The tech sector is trading just higher today, ahead of losses in the broader market. Semiconductors are trading roughly inline with the tech space with the Philly Semi Index trading 0.4% higher. Among chips in the index, NETL (+1.7%) and SNDK (+4.1%) are a notable leaders, while POWI (-4.8%) is underperforming. Among other major indices, the S&P 500 is trading 0.3% lower, while the NASDAQ is trading 0.1% higher. The QQQ, meanwhile, is trading 0.3% higher. Among tech bellwethers, INTC (+0.7%) is showing relative strength, while CSCO (-0.8%) is under pressure.
In earnings last night, OPEN (-6.4%) reported a mixed quarter and announced the hiring of a new CEO. Elsewhere, SFSF (+15.7%), JCOM (+17.2%), and TRMB (+14.3%) posted beats and upside guidance and SIMG (+25.7%) reported a beat with inline guidance. In news, RMKR (+10.2%) disclosed a vendor service agreement with MSFT (-0.04%).
Among notable analyst upgrades this morning, FISV (+0.9%) was upgraded to Outperform at Robert W. Baird, SIMG (+25.9%) was upgraded to Buy at Merriman, Canaccord Genuity upgraded TRMB (+14.3%) to Buy, and S (+2.3%) was upgraded to Neutral at Macquarie In downgrades this morning, PCS (-1.7%) and LEAP (-3.3%) were downgraded to Neutral at Robert W. Baird and Sterne Agee downgraded DIOD (-3.6%), ADI (+0.6%), and TXN (-0.1%) to Neutral.
AVTI (+0.5%.) and ONNN (+0.8%) are the notable tech name set to report results today after the close.






