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Last Update: 18-Jan-12 12:56 ET
S&P Tech Sector up 1.5%, Well Ahead Of The Broader Market
The tech sector is trading higher today, ahead of gains in the broader market. Semiconductors are showing relative strength in the tech space, however, with the Philly Semi Index trading 4.8% higher. NXPI (+11.3%) and POWI (+11.0%) are standouts in the chip index. Among other major indices, the S&P 500 is trading 0.7% higher, while the NASDAQ is trading 1.1% higher and the QQQ is 1.0% higher on the session. Among tech bellwethers, ORCL (+2.1%) is showing strength, while VZ (-0.3%) and MSFT (-0.3%) are notable underperformers.
In earnings, LLTC (+9.4%) reported a roughly inline Q2, but guided higher. This morning, APH (+10.2%) posted a Q4 beat and guided FY12 ahead of consensus.
In news, YHOO (+2.7%) announced that Jerry Yang has resigned from its Board of Directors. Among rumors, we are hearing Samsung is not interested in RIMM (-2.9%) following yesterday's reports the two might working together.
Among notable analyst upgrades this morning, CHKP (-0.2%) was upgraded to Outperform from Market Perform at Raymond James. Among downgrades, GOOG (+0.1%) was downgraded to Market Perform at Wells Fargo.
EBAY (-1.1%) and SANM (+2.9%) are two notable names in tech scheduled to report results today after the close.
The tech sector is trading higher today, ahead of gains in the broader market. Semiconductors are showing relative strength in the tech space,