In tech earnings last night, CRM (+4.8%) reported a solid Q4 beat and guided inline, SPLK (+4.8%) posted beat with upside guidance, OVTI (-12.6%) topped Q3 estimates but guided well below consensus, and PANW (+0.3%) reported a slight beat and guided inline. In news, FB (-1.4%) confirmed its purchase of MSFT's (-0.8%) Atlas Advertiser Suite. Among notable analyst upgrades this morning in the tech space, ADSK (+1.0%) was upgraded to Buy at Jefferies and ALU (-1.5%) was upgraded to Mkt Perform at Bernstein. Among downgrades, MCRS (-2.2%) was downgraded to Hold at Jefferies and OVTI (-12.7%) was downgraded to Mkt Perform at Raymond James. There are no notable names in tech scheduled to report quarterly results today after the close.
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