In tech earnings last night, CBEY (-9.4%) posted a miss and BSFT (-26.2%) reported a slight beat but guided well below consensus. This morning, EPAM (-2.6%) posted a slight beat and guided to the upside, while NIHD (-7.4%) reported a large Q4 miss. Among rumors, P (-5.2%) will cap free mobile listening at 40 hours/month, according to reports. Also, we are hearing chatter related to a potential deal between BBRY (+2.1%) and MSFT (+0.1%). Among notable analyst upgrades this morning in the tech space, INXN (+2.9%) was upgraded to Buy at Goldman. Among downgrades, AMAP (-2.0%) was downgraded to Neutral at Goldman, RVBD (-4.4%) was downgraded to Neutral at Sterne Agee and BSFT (-26.2%) was downgraded at a host of firms. CRM (+1.0%), SPLK (+0.3%), and PANW (+0.1%) is a notable name in tech scheduled to report quarterly results today after the close.
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