In tech earnings, LSCC (+8.4%) raised its Q1 guidance this morning. Also, FDS (-3.5%) reported disappointing Q2 results and guidance. In news, EA (-8.3%) announced CEO Riccitiello has stepped down. In conjunction, EA lowered guidance. ARMH (-2.7%) announced that its CEO retiring. Also, CHTR (+1.1%) and LMCA (+0.7%) confirmed an agreement for investment. Among rumors, BX (+0.3%) considering outbidding Silver Lake for DELL (+0.7%). Among notable analyst upgrades this morning in the tech space, EBAY (+1.8%) was upgraded to Buy at Cantor Fitzgerald, TEF (+1.5%) and AMX (+2.2%) were upgraded to Overweight at Morgan Stanley, INFN (+4.5%) was upgraded to Neutral at Goldman and Chardan upgraded SPRD (+4.6%) to Buy. Among downgrades, JNPR (-4.5%) was downgraded to Sell at Goldman, Needham downgraded EA (-8.2%) to Hold, ERIC (+0.3%) was downgraded to Hold at Nordea and AEIS (-2.4%) was downgraded to Underperform at Pacific Crest. ADBE (-0.1%) is the notable name in tech scheduled to report quarterly results today after the close.
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