The tech sector is trading lower today, roughly in line with losses in the broader market. Semiconductors are also trading inline with weakness in the tech space with the Philly Semi Index trading 0.8% lower. RBCN (-9.1%) is showing relative weakness in the SOX. Among other major indices, the S&P 500 is trading 0.7% lower, while the NASDAQ and the QQQ are trading 0.6% lower. Among tech bellwethers, GOOG (-2.2%) is showing notable weakness.
In earnings, VTSS (-10.2%) and AUDC (-13.1%) lowered guidance. In news, ACIW (-5.1%) raised its deal for SONE (+1.0%) to $9.55 per share. In M&A, Alibaba's CEO stated an interest in acquiring YHOO (+4.5%).
Among notable analyst upgrades this morning, NTAP (+2.1%) and MOBI (+4.9%) were upgraded to Buy at Citigroup and DMAN (-0.5%) was upgraded to Outperform at JMP Securities. In downgrades, Needham downgrades AEIS (-3.9%) to Hold and NEWP (-5.3%) was downgraded to Neutral at Longbow.
No notable names in tech are set to report results today after the close.






