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Last Update: 27-Jan-12 10:51 ET
S&P Tech Sector Just Under Unchanged Level
The tech sector is trading slightly higher today, ahead of losses in the broader market. Semiconductors are showing relative strength in the tech space, however, with the Philly Semi Index trading 0.4% higher. KLAC (+4.6%) is a standout, while CRUS (-5.5%) is a notable laggard in the chip index. Among other major indices, the S&P 500 is trading 0.3% lower, while the NASDAQ is trading 0.1% higher and the QQQ is 0.05% higher on the session. Among tech bellwethers, GOOG (+1.0%) is showing strength, while CSCO (-1.5%) is a notable underperformer.
In earnings last night, JNPR (-8.4%), SYNA (+3.6%), and RVBD (-21.5%) posted slight quarterly beats, but offered downside guidance. CRUS (-5.5%) and KLAC (+4.8%) posted beat and raises. VRSN (0.1%) reported a slight miss, but issued upside guidance. Elsewhere, FSL (+2.0%) reported a mixed quarter, QLGC (+4.3%) posted a beat, CLS (+6.0%) posted a mixed quarter with slightly downside guidance, and FICO (-10.7%) posted a beat and reaffirm.
Among notable analyst upgrades this morning, LOGI (+2.1%) was upgraded to Neutral at Citigroup, Needham upgraded SYNA (+3.6%) to Buy. Among downgrades, JNPR (-8.4%) was downgraded at Morgan Keegan, Auriga, and Stifel Nicolaus.
In earnings last night, JNPR (-8.4%), SYNA (+3.6%), and RVBD (-21.5%) posted slight quarterly beats, but offered downside guidance. CRUS (-5.5%) and KLAC (+4.8%) posted beat and raises. VRSN (0.1%) reported a slight miss, but issued upside guidance. Elsewhere, FSL (+2.0%) reported a mixed quarter, QLGC (+4.3%) posted a beat, CLS (+6.0%) posted a mixed quarter with slightly downside guidance, and FICO (-10.7%) posted a beat and reaffirm.
Among notable analyst upgrades this morning, LOGI (+2.1%) was upgraded to Neutral at Citigroup, Needham upgraded SYNA (+3.6%) to Buy. Among downgrades, JNPR (-8.4%) was downgraded at Morgan Keegan, Auriga, and Stifel Nicolaus.
