EmailThe tech sector is trading higher today, in-line with the broader market. Semiconductors are showing relative weakness in the tech space, however, with the Philly Semi Index trading 0.3% higher. Among chips in the index, XLNX (-2.3%) is a notable laggard. Among other major indices, the S&P 500 is trading 0.5% higher, while the NASDAQ is trading 0.6% higher. The QQQ, meanwhile, is trading 1.0% higher. Among tech bellwethers, AAPL (+2.5%) is outperforming, while CSCO (+0.2%) is under pressure.
In earnings this morning, XLNX (-2.3%) lowered its Q2 rev guidance.
In news last night, MLNX (-10.1%) announces a 3 mln ordinary share offering.
Among notable analyst upgrades this morning, The Benchmark Company upgraded ARMH (+3.8%) to Buy and SAP (+1.4%) was upgraded to Outperform at Wells Fargo. Among notable downgrades, PLXS (-4.9%) was downgraded to Sell at Ticonderoga and LOGI (-4.5%) was downgraded to Sell at Goldman.
ORCL (-0.6%) is the notable name in tech set to report results today after the close.
