The tech sector is trading lower today along with losses in the broader market. Semiconductors are showing relative weakness in the tech space with the Philly Semi Index trading 2.3% lower. MU (-6.2%) is a notable laggard in the chip index. Among other major indices, the S&P 500 is trading 1.6% lower, while the NASDAQ is trading 1.5% lower and the QQQ is trading 1.7% lower on the session. Among tech bellwethers, INTC (-1.6%) and AAPL (-1.8%) are notable underperformers.
In earnings this morning, TIVO (+4.1%) reported a Q3 beat, while STV (-13.9%) issued Q4 guidance revenue below single the single estimate.
In news, NOK (-1.4%) Siemens announced the layoff of 17,000 employees globally in attempt to save EUR 1 bln by the end of 2013 and GOOG (-1.1%) is eliminating seven services including Google Wave, according to a Google blog post.
There are no notable tech names reporting tonight after the close.






