The tech sector is trading higher today, but trails gains in the broader
market. Semiconductors are showing relative weakness in the tech space with the
Philly Semi Index trading 0.2% lower. Among chips in the index, CREE (+2.7%) is
a notable leader, while ALTR (-2.9%) is under pressure. Among other major
indices, the S&P 500 is trading 1.0% higher, while the NASDAQ and the QQQ are
trading 0.6% higher. Among tech bellwethers, ORCL (+1.4%) is showing relative
strength, while T (-4.3%) is under pressure following reports that the Dept. Of
Justice will block T's acquisition of T-Mobile (DTEGY -6.5%).
Elsewhere in news, HPQ (+0.2%) plans to temporarily resume tablet production. In
rumors, we are hearing AOL (+4.5%) takeover chatter making the rounds.
Separately, we are hearing CSCO (+0.3%) for JDSU (-1.7%).
In earnings last night, SNDA (-4.9%) posted a Q2 miss. This morning, LTXC
(-18.5%) also reported a quarterly miss.
Among notable analyst calls this morning, TQNT (-5.5%) was downgraded to Equal
Weight at Barclays.
SAI (+1.4%) is the notable tech name set to report results today after the
close.






