EmailStory Stocks®
Archive
Last Update: 27-Oct-11 12:07 ET
S&P Tech Sector Up Almost Three Percent, In-line With the S&P 500
The tech sector is trading higher today along with gains in the broader market. Semiconductors are showing relative strength in the tech space, however, with the Philly Semi Index trading 3.2% higher. VECO (+10.5%) and NVLS (+10.5%) are notable leaders in that chip index. Among other major indices, the S&P 500 is trading 2.7% higher, while the NASDAQ is trading 2.5% higher The QQQ, meanwhile, is trading 2.1% higher on the session. Among tech bellwethers, CSCO (+4.8%) is a notable outperformer.
In another busy night of earnings, AKAM (+14.7%) and BMC (-12.8%) reported better-than-expected quarters with in-line guidance. Elsewhere, TQNT (-27.3%) posted a beat, but it was inline with its preannouncement and the co guided lower, while LSI (+6.2%) and SYMC (-4.7%) reported inline quarters and issued downside guidance. Also, NVLS (+10.6%) reported a mixed quarter with in-line guidance. This morning, LOGI (+16.3%) reported an inline quarter and offered upside guidance and CTXS (+15.1%) posted a beat and upside guidance.
Among rumors, there are rumblings that AKAM's (+14.7%) CEO, who resigned yesterday, is slated to be the next CEO of YHOO (+2.1%).
Among notable analyst upgrades this morning, CSCO (+4.8%) was upgraded to Buy at UBS and APKT (+20.9%) was added to buy list at Deutsche Bank. In downgrades, Stifel Nicolaus downgraded FIO (+3.5%) to Hold.
AMD (+5.0%), BIDU (+4.6%), ERTS (+0.9%), IM (+2.4%), and KLAC (+4.2%) are the notable names in tech set to report results today after the close.
In another busy night of earnings, AKAM (+14.7%) and BMC (-12.8%) reported better-than-expected quarters with in-line guidance. Elsewhere, TQNT (-27.3%) posted a beat, but it was inline with its preannouncement and the co guided lower, while LSI (+6.2%) and SYMC (-4.7%) reported inline quarters and issued downside guidance. Also, NVLS (+10.6%) reported a mixed quarter with in-line guidance. This morning, LOGI (+16.3%) reported an inline quarter and offered upside guidance and CTXS (+15.1%) posted a beat and upside guidance.
Among rumors, there are rumblings that AKAM's (+14.7%) CEO, who resigned yesterday, is slated to be the next CEO of YHOO (+2.1%).
Among notable analyst upgrades this morning, CSCO (+4.8%) was upgraded to Buy at UBS and APKT (+20.9%) was added to buy list at Deutsche Bank. In downgrades, Stifel Nicolaus downgraded FIO (+3.5%) to Hold.
AMD (+5.0%), BIDU (+4.6%), ERTS (+0.9%), IM (+2.4%), and KLAC (+4.2%) are the notable names in tech set to report results today after the close.
