The tech sector is trading higher today, ahead of losses in the broader market. Semiconductors are showing relative strength in the tech space with the Philly Semi Index trading 2.0% higher. WFR (+5.3%) is a notable leader in that index. Among other major indices, the S&P 500 is trading 0.4% lower, while the NASDAQ is trading 0.8% higher. The QQQ, meanwhile, is trading 0.5% higher. Among tech bellwethers, CSCO (+1.1%) is showing notable strength.
In earnings, MSPD (+3.7%) lowered its Q4 guidance. In news, AAPL (+0.9%) is expected to unveiled its newest iPhone today at 1 ET.
Among rumors, there's renewed YHOO (+5.0%) takeover chatter making the rounds. There are also rumors of RIMM (+2.9%) exploring strategic alternatives.
Among notable analyst upgrades this morning, ERIC (+1.3%) was upgraded to Buy at Citigroup and PLCM (+10.8%) and SHOR (+8.3%) were upgraded to Overweight at Barclays. In downgrades, QSII (-3.1%) was downgraded to Neutral at Piper Jaffray and RVBD (-4.4%) was downgraded to Equal Weight at Barclays.
No notable names in tech set to report results today after the close.






