S&P Information Tech sector trading lower by -0.3% The tech sector is trading higher today, along with gains in the broader market. Semiconductors are showing relative strength as well with the SOX trading 0.9% higher. Within the chip index, XLNX (+3.1%) is a notable standout. Among other major indices, the SPY is trading 0.5% higher today, while the QQQ and the NASDAQ are trading 0.4% higher on the session. Among tech bellwethers, CSCO (+1.5%) is showing notable strength, while AAPL (-1.1%) is under pressure.

In tech earnings this morning, WIN (-1.4%) posted a Q4 miss and offered inline guidance, YNDX (-11.3%) reported a mixed Q4 with muted guidance, and ELNK (-10.8%) posted a mixed Q4 and guided below consensus. In news, DGIT (-23.4%) announced the conclusion of Special Committee review of strategic alternatives. The Special Committee is not recommending any transaction or other strategic alternative to the Board. Among rumors, SNE's (+2.2%) upcoming PS4 console will stream games, according to reports. Among notable analyst upgrades this morning in the tech space, XLNX (+3.1%) was upgraded to Buy at BofA/Merrill and Needham upgraded ATML (+2.0%), RVBD (+2.0%) and CY (+2.0%). Among downgrades, TRLA (-6.7%) was downgraded to Hold at Deutsche Bank, VECO (-1.6%) was downgraded to Neutral at JP Morgan and VOD (-2.6%) was downgraded to Underperform at Bernstein. Also, Goldman was out cautious on BIDU (-1.2%) this morning. ADI (+1.5%) and DELL (+0.1%) are a couple notable names in tech scheduled to report quarterly results today after the close.

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