The tech sector is trading higher today, just ahead of gains in the broader market. Semiconductors are showing relative strength in the tech space with the Philly Semi Index trading 1.6% higher. Among chips in the index, MRVL (+3.4%) and AMD (+4.3%) are notable leaders. Among other major indices, the S&P 500 is trading 1.3% higher while the NASDAQ is trading 1.2% higher. The QQQ, meanwhile, is trading 1.8% higher. Among tech bellwethers, AAPL (+2.6%) and HPQ (+1.6%) are showing strength.
In earnings, RENN (-2.9%) narrowed its Q1 net loss, compared to last yr (no Q1 ests), and reported Q2 revs in-line.
Among the more notable analyst ratings changes this morning, RIMM (+5.4%) was downgraded to Neutral at Credit Suisse and MMI (-3.9%) was downgraded to Underperform from at Credit Suisse. Also, SNCR (+4.3%) was added to the Conviction Buy list at Goldman.
ADBE (+2.6%) and JBL (+2.6%) are the notable tech names set to report results today after the close.






