The tech sector is trading higher today, outperforming the broader market. Semiconductors are outperforming the rest of the tech space with the Philly Semi Index trading 2.0% higher. Among chips in the index, CREE (+1.0%) and TSM (+2.9%) are notable leaders, while VECO (-3.2%) is under pressure. Among other major indices, the S&P 500 is trading 0.5% higher, while the NASDAQ is trading 0.5% higher. The QQQ is also trading 0.8% higher. Among tech bellwethers, AAPL (+1.8%) is a leader while NFLX (-5.1%) is lagging.
In earnings RIMM (-17.7%) missed by $0.09 on EPS and guided FY12 EPS at the low end of the previous range. In news, QPSA (+3.6%) and myYearbook reaffirmed commitment to completing merger.
Among notable ratings calls this morning, Wedbush upgraded EBAY (+4.3%) to Outperform, JMP downgraded ADBE (-1.7%) to Market Perform, and Caris downgraded NFLX (-5.1%) to Average.
There are no notable tech names set to report tonight after the close.






