The tech sector is trading just lower today, outpacing greater losses the broader market. Semiconductors are showing relative strength in the tech space, however, with the Philly Semi Index trading 0.3% higher. Among chips in the index, STM (+5.8%) is a notable leader, while TSM (-2.6%) lags. Among other major indices, the S&P 500 is trading 0.8% lower, while the NASDAQ is trading 0.3% lower. The QQQ, meanwhile, is trading 0.4% lower. Among tech bellwethers, VZ (-0.9%) is under notable pressure, while CSCO (+0.5%) and AAPL (+0.5%) are showing strength.
In earnings this morning, LSCC (+2.2%) lowered its Q3 guidance. In news, DELL (+1.0%) authorized an additional $5 billion for stock repurchase. Elsewhere, EBAY (-1.0%) is reportedly being probed by the DOJ over alleged criminal activity regarding Craigslist.
Among rumors, we are hearing renewed RVBD (+0.1%) takeover chatter making the rounds.
Among analyst ratings changes this morning of significance, ORCL (-0.1%) was upgraded to Positive at Susquehanna.
No notable names in tech are set to report results today after the close.






