The tech sector is trading higher today, inline with gains in the broader market. Semiconductors are showing relative weakness in the tech space, however, with the Philly Semi Index trading 0.7% higher. MU (-1.2%) is a notable laggard in that index. Among other major indices, the S&P 500 is trading 1.0% higher, while the NASDAQ is trading 1.2% higher. The QQQ, meanwhile, is trading 1.0% higher. Among tech bellwethers, CSCO (+2.5%) is again showing notable strength, while AAPL (-0.5%) lags.
In earnings, OCZ (+13.5%) posted a mixed quarter, but raised guidance.
In news, AAPL's (-0.8%) Chairman Steve Jobs has sadly passed away. Elsewhere, GLW (+6.0%) announced it increased its dividend 50% and a $1.5 billion stock buyback. Among rumors, there continued CMTL (+9.6%) takeover chatter making the rounds. Also, there is a report shooting down speculation that MSFT (+1.5%) is interested in buying YHOO (-3.5%).
Among notable analyst ratings changes this morning, WBMD (+9.4%) was upgraded to Equal Weight at Barclays and PLCM (+4.3%) was upgraded to Buy at Argus.
No notable names in tech are set to report results today after the close.






