The tech sector is trading just lower today, ahead of larger losses in the broader market. Semiconductors are showing in-line weakness in the tech space with the Philly Semi Index trading 0.15% lower. Among chips in the index, Micron Technology (MU -1.7%) is a notable laggard. Among other major indices, the S&P 500 is trading 0.4% lower while the NASDAQ is trading 0.2% lower. The QQQ is also trading 0.2% lower. Among tech bellwethers, Intel Corp (INTC +0.4%) is showing strength, while Oracle Corp (ORCL -1.6%) is under pressure.
In earnings, late last night Shanda Games Limited (GAME -2.2%) reported a beat and raise. In news, Google (GOOG -0.1%) announced that it Google detected and has disrupted this campaign to take users' passwords and monitor their emails. In M&A, we are hearing Dell (DELL +1.1%) for Brocade Communications Systems (BRCD +5.8%) speculation from Canaccord.
Among the more notable analyst upgrades this morning, Standpoint Research upgraded Microsoft (MSFT -0.5%) to Buy. In downgrades this morning, Check Point Software Technologies (CHKP -0.3%) was downgraded to Neutral at Davenport.
VeriFone Systems (PAY -0.3%) is the notable tech name set to report results today after the close.






