The tech sector is trading higher today, and topping gains in the broader market. Semiconductors are showing strength in the tech space with the Philly Semi Index trading 1.9% higher. Among chips in the index, MU (+5.8%) is a notable leader. Among other major indices, the S&P 500 is trading 1.6% higher, while the NASDAQ is trading 2.0% higher. The QQQ, meanwhile, is trading 1.8% higher. Among tech bellwethers, ORCL (+3.1%) is showing relative strength, while VZ (+0.3%) is lagging.
In news, YOKU (+6.9%) and DreamWorks Animation entered an online distribution agreement for KungFu Panda Films in China. Also, Facebook plans to shut down online deal programs.
In rumors, we are hearing CVG (+3.2%) M&A potential making the rounds. Separately, there's AAPL (+1.6%) for EK (+4.5%) chatter.
There were few notable analyst calls this morning in tech. Of note, Barrington Research initiated SQI (-1.1%) with an Outperform.
There are no notable tech names set to report results today after the close.






