The tech sector is trading slightly lower today, just ahead of losses in the broader market. Semiconductors are showing relative weakness in the tech space with the Philly Semi Index trading 0.7% lower. RBCN (-6.5%) is a notable drag in that index. Among other major indices, the S&P 500 is trading 0.5% lower, while the NASDAQ is trading 0.2% lower. The QQQ, meanwhile, is trading 0.1% lower. Among tech bellwethers, AAPL (+2.0%) is again showing notable strength, while CSCO (-1.0%) is a laggard.
In earnings, KNXA (+10.2%) announced it expects Q3 financial results to be at or above high-end of previously issued guidance.
In news, ARRS (-2.3%) will acquire BBND (+74.0%) for a purchase price of $2.24 per share in cash. Among rumors, there are reports that investors are pushing RIMM (+3.4%) to explore options. Also, there's renewed AKAM (-1.9%), and separately NVLS (+0.1%), takeover chatter making the rounds.
Among notable analyst upgrades this morning, ARMH (-1.1%) was upgraded to Buy at Citigroup and SYNA (+5.1%) was upgraded to Buy at Collins Stewart. In downgrades, RBCN (-6.5%) and VECO (-3.0%) were downgraded at Piper Jaffray and STM (-5.0%) was downgraded to Sell at Citigroup.
No notable names in tech are set to report results today after the close.






