In tech earnings, ADBE (+3.7%) posted a Q1 beat with strong Creative Cloud metrics.
In news, ADBE's (+3.7%) CTO left the company to join AAPL (-1.0%). Also, software IPO MODN (+2.4%) opened for trading at $20.40 after pricing at $15.50.
Among rumors, there are reports out discussing VOD (-0.9%) comments on potential lower debt ratings and acquisition pursuit. Also, we are hearing ORCL (-0.7%) for MLNX (+1.3%) chatter making the rounds.
Among notable analyst upgrades this morning in the tech space, PLCM (+6.1%) was upgraded to Buy at Goldman, SPRD (+7.4%) was upgraded to Buy at Jefferies, BBRY (+5.7%) was upgraded to Overweight at Morgan Stanley and SYNT (+5.0%) was upgraded to Neutral at Susquehanna.
Among downgrades, ZNGA (-4.0%) was downgraded to Neutral at BofA/Merrill, Oppenheimer downgraded SYMC (+1.1%) to Perform and ADBE (+3.7%) was downgraded to Hold at Stifel.
JBL (+0.2%) and ORCL (-0.7%) are the notable names in tech scheduled to report quarterly results today after the close.
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