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Last Update: 25-Jan-12 11:20 ET
S&P Tech Sector Up Modestly, While S&P 500 Is In The Red
The tech sector is trading slightly higher today, outpacing losses in the broader market. Semiconductors are showing relative weakness in the tech space, however, with the Philly Semi Index trading 0.1% lower. AMD (+2.8%) is a standout, while RBCN (-11.2%) is a notable laggard in the chip index. Among other major indices, the S&P 500 is trading 0.2% higher, while the NASDAQ is trading 0.4% higher and the QQQ is 0.6% higher on the session. Among tech bellwethers, AAPL (+6.6%) is the lone name showing strength, while GOOG (-2.0%) is a notable underperformer.
In earnings last night, AAPL (+6.6%) posted a blowout Q1 in which the company beat the Street on every metric. Elsewhere, CA (+10.3%) posted a beat, upside guidance and raised its dividend, ALTR (-0.3%) posted a beat with downside guidance, AMD (+2.8%) reported a mixed qtr, YHOO (-0.7%) posted a slight miss with inline guidance, FIO (-17.0%) reported a top and bottom line beat margins eroded, and NVDA (-3.4%) issued a downside preannouncement. This morning, SAP (-0.4%) reported a beat, while ERIC (-15.8%) missed.
In news, GWRE (+32.6%) priced its 8.85 mln share IPO at $13.00 per share, up from 7.5 mln shares expected to price in the $10-12 range. Among rumors, we are hearing RMBS (+2.7%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, TSS (+4.8%) was upgraded to Underperform from Sell at Credit Agricole. Among downgrades, NVDA (-3.4%) was downgraded to Underperform at JMP Securities Macquarie downgrades ORCL (-1.5%) to Neutral.
SYMC (+1.2%) and SNDK (+0.6%) are the notable names in tech scheduled to report results today after the close.
In earnings last night, AAPL (+6.6%) posted a blowout Q1 in which the company beat the Street on every metric. Elsewhere, CA (+10.3%) posted a beat, upside guidance and raised its dividend, ALTR (-0.3%) posted a beat with downside guidance, AMD (+2.8%) reported a mixed qtr, YHOO (-0.7%) posted a slight miss with inline guidance, FIO (-17.0%) reported a top and bottom line beat margins eroded, and NVDA (-3.4%) issued a downside preannouncement. This morning, SAP (-0.4%) reported a beat, while ERIC (-15.8%) missed.
In news, GWRE (+32.6%) priced its 8.85 mln share IPO at $13.00 per share, up from 7.5 mln shares expected to price in the $10-12 range. Among rumors, we are hearing RMBS (+2.7%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, TSS (+4.8%) was upgraded to Underperform from Sell at Credit Agricole. Among downgrades, NVDA (-3.4%) was downgraded to Underperform at JMP Securities Macquarie downgrades ORCL (-1.5%) to Neutral.
SYMC (+1.2%) and SNDK (+0.6%) are the notable names in tech scheduled to report results today after the close.
