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From Briefing.com: The rout continued for oil today, falling 4% as it led broad markets lower. The S&P fell 1.6%, while the Technology Sector posted similar losses (XLK -1.5%). It is little surprise then, that there were no industry groups within the Tech Sector able to post gains. The worst performing industry groups were Communications Equipment (-2%) and Technology Hardware, Storage & Peripherals (-1.89%)

Top performing large caps, bucking a down market today:

Broadcom Corp (BRCM 42.68 +0.03) - The semiconductor company received several positive analyst ratings today, including a Buy reiteration at Brean Capital with a raised price target to $53 from $46. Additionally, Susquehanna reiterated its positive rating on BRCM, also raising its price target to $52 from $45. BRCM also announced after the close yesterday that it is raising its dividend 17% to $0.14 per share, and that it has authorized a $1 billion buy back for next year.

Amphenol (APH 53.82 -0.06) - RBC Capital reiterated APH is a Top Pick, also raising its price target to $59 from $54.

Alliance Datasys (ADS 277.29 +0.20) - Today the company announced that it has completed the acquisition of Conversant. The acquisition is expected to be complimentary to APH's current operations, allowing for more effective targeted marketing programs in addition to other benefits.

Worst performing large caps:

Alibaba (BABA 103.88 -3.60) - No news, but we note that there was an unconfirmed rumor today that there was a security breach at BABA. Again, BABA has not confirmed this news, but it may have affected the stock price today.

Netease (NTES 96.56 -3.34) - No news.

Lam Research (LRCX 79.70 -2.58) - Although Stifel reiterated its Buy rating for the stock yesterday, it was still unable to post gains, potentially bogged down by a bearish broad market.

Fleetcor Technologies (FLT 143.90 -4.80) - No news.

It was a relatively quite day in regards to news from the Tech Sector, but here are a couple noteworthy stories.

Apple (AAPL 111.95 -2.17) - Apple and International Business Machines (IBM 160.51 -2.48) released the first made-for-business app supporting cloud services allowing for big data and analytics capabilities on the iPhone and iPad.

Trimble Navigation (TRMD 27.00 -1.03) - The FAA has granted TRMD an exemption for its unmanned aircraft system. This could bode well for some other stocks as well like Amazon (AMZN 305.84 -6.66), and GoPro (62.76 -5.74), both of which have reportedly been interested in their own drone initiatives.

Facebook (FB 76.18 -0.66) - The social media company reported today that one of its platforms, Instagram, reported 300 million users.

LiveDeal (LIVE 2.89 +0.11) - The marketing solution provider announced that its expanded national advertising campaign increased traffic 570% compared to the same period in November, far surpassing the Company's expectations.

Other movers in the sector Electronic Arts (EA 44.76 -0.82), Skyworks Solutions (SWKS 68.52 -0.70), Sandisk (SNDK 102.02 -2.77), Mobileye (MBLY 42.82 -3.07), Splunk (SPLK 59.52 -3.09), First Solar (FSLR 43.07 -1.99), Zillow (Z 114.11 -3.92), Avago Technologies (AVGO 99.25 -3.39)

4:33 pm Sigma Designs beats by $0.03, beats on revs (SIGM) : Reports Q3 (Oct) adj. earnings of $0.04 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.01; revenues fell 1.1% year/year to $53.78 mln vs the $53.19 mln consensus.
Recent Highlights include

"We have successfully ramped volume shipments of our UXL DTV SoC as well as our latest smart TV products, the SX6 SoC and FRCX frame-rate conversion processor, which allow our customers to launch new 4K TVs with improved video quality along with BOM cost reductions."

4:32 pm Diodes sees Q4 revs of $220-228 mln (narrowed from $217-231 mln) vs $224.56 mln Capital IQ Consensus Estimate (DIOD) : Co provided updated guidance for the fourth quarter ending December 31, 2014. The Company is narrowing its revenue range and currently expects fourth quarter revenue to range between $220 million and $228 million (vs $224.56 mln Capital IQ Consensus Estimate), or down 6 percent to 2 percent sequentially, compared to its original guidance of between $217 million and $231 million, or down 7 to 1 percent sequentially. Diodes is maintaining its guidance for gross profit margin to be 31.6 percent, plus or minus 2 percent, operating expenses to be approximately 22.2 percent of revenue, plus or minus 1 percent, income tax rate to be 25 percent, plus or minus 3 percent, and shares used to calculate GAAP earnings per share to be approximately 49.0 million.

4:18 pm Altera: Sees 2015 Gross Margin in the range of 67-69% (Q4 expected to be between 66-67%); Sees CapEX of approx $28 mln (ALTR) :

Gross Margin 67% to 69%
Research and Development Approximately $441 million
SG&A $319 million Other Income/Expense Expense of $3 to $6 million Tax Rate 13% to 14% Diluted Share Count (Wt. Avg.) 300 million Capital Expenditures $28 million

4:11 pm Closing Market Summary: Energy Sector Leads Stocks Lower (:WRAPX) : The major averages ended the Wednesday session on a broadly lower note. The S&P 500 lost 1.6% with all ten sectors ending in the red while the Russell 2000 (-2.1%) underperformed.

For the second day in a row, the major averages slumped at the start, but unlike yesterday, the key indices could not stage a comeback with a big drop in the energy sector (-3.1%) keeping the market under pressure throughout the session.

The energy sector widened its fourth-quarter loss to 15.9% with crude oil settling lower by 4.5% at $60.92/bbl. Today's slide took place after China reported its lowest year-over-year growth in CPI (1.4%) and OPEC cut its demand forecast. In addition, crude stockpiles showed an unexpected build. Following today's drop, the energy component is down 33.4% since the end of the third quarter.

However, the recent slump among commodities has not been isolated to just oil, but the weakness factored in more prominently today as misgivings about the pace of global economic growth and the potential spillover effect for the U.S. fueled a sense that the market has come too far too fast. Accordingly, today's selling interest hit far and wide with nine sectors losing more than 1.0%.

Similar to energy, the materials sector (-2.1%) spent the day at the bottom of the leaderboard. Growth concerns weighed on steelmakers, which sent Market Vectors Steel ETF (SLX 36.28, -1.29) lower by 3.4%.

Elsewhere, the industrial sector (-1.9%) slumped under the weight of Boeing (BA 124.64, -5.02). The Dow component lost 3.9% and fell below its 50-, 100-, and 200-day averages. The underperformance of the influential sector component masked the relative strength among airlines after International Air Transport Association's projection that the airline industry's collective global net profit after tax will increase to $25.00 billion in 2015 from an estimated $19.00 billion in 2014. Jetblue Airways (JBLU 15.15, +0.11), Southwest Airlines (LUV 41.48, +0.75), and United Continental (UAL 63.69, +1.17) jumped between 0.7% and 1.9%, helping the Dow Jones Transportation Average (-1.4%) finish a little ahead of the market.

Also of note, the consumer discretionary sector (-1.4%) settled ahead of the market, but that was no thanks to Yum! Brands (YUM 70.53, -4.69). The stock tumbled 6.2% after issuing disappointing guidance. In a way, the guidance from Yum! echoed global growth concerns. The company said that sales at its China division have not recovered from bad publicity over the summer as fast as the company had expected.

Growth concerns were also visible in the foreign exchange market with the Dollar Index (88.25, -0.45) recording its third consecutive decline. Notably, the retreat in the dollar gave a big boost to the yen and pressured the dollar/yen pair below yesterday's low (118.00).

Safe haven demand boosted Treasuries with the 10-yr yield falling six basis points to 2.16%.

The selloff invited above-average participation with more than 890 million shares changing hands at the NYSE floor.

Economic data was limited to the MBA Mortgage Index and the Treasury Budget:


The weekly MBA Mortgage Index spiked 7.3% to follow last week's 7.3% decline The Treasury budget showed a deficit of $56.80 billion in November, down from a deficit of $135.2 billion in November 2013. The Treasury data are not seasonally adjusted, and the November data cannot be compared to the $121.7 billion deficit in October The Briefing.com Consensus expected a budget deficit of $59.0 billion The November deficit was slightly smaller than the CBO's forecast of a $59.0 billion deficit Tomorrow, weekly Initial Claims (Briefing.com consensus 295K), November Retail Sales (consensus 0.4%), and November Import/Export prices will be reported at 8:30 ET while the Business Inventories report for October (consensus 0.2%) will be released at 10:00 ET.
Nasdaq Composite +12.2% YTD
S&P 500 +9.6% YTD
Dow Jones Industrial Average +5.8% YTD Russell 2000 UNCH YTD1:51 pm Notable movers of interest (:SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).

Large Cap Gainers

GMCR (140.2 +5.42%): A Director bought 7,600 shares at $133.10 worth ~$1.0 mln; target was also raised to $151 from $131 at Williams Capital Group.
UAL (65.83 +5.29%): Upgraded to Overweight from Underweight at Barclays; tgt raised to $76 from $52.
BKW (33.7 +3.72%): Upgraded to Outperform at RBC Capital Mkts; tgt raised to $38.

Large Cap Losers

S (4.36 -4.59%): Downgraded to Underperform from Perform at Oppenheimer.
WYNN (148.69 -5.07%): Weakness in resort & casino stocks after FBR reduced their estimates and lowered their price targets on a number of companies in the industry; WYNN tgt lowered to $165 from $195 (MPEL & LVS also lower).
YUM (71.6 -4.81%): Sees FY15 adjusted EPS growth of at least 10% (vs Capital IQ Consensus Estimate of approx +17.3%); Tgt lowered at RBC Capital Markets, Stifel, others.

Mid Cap Gainers

BDC (80.16 +6.99%): Announced an agreement to acquire Tripwire for $710 mln; transaction is instantly accretive with an expected impact to adjusted income from continuing operations per diluted share of $0.65 in 2015.
AEO (13.1 +4.72%): Upgraded to Outperform from Market Perform at BMO Capital Mkts.
BURL (44.85 +2.87%): Price target raised to $50 from $44 at Telsey Advisory Group.

Mid Cap Losers

OIBR (0.43 -2.34%): Oi SA's Board of Directors approved the sale of shares of PT Portugal (PT) to Altice S.A.
TOL (33.2 -4.57%): Reported Q4 (Oct) earnings of $0.71 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.73; revenues rose 29.3% year/year to $1.35 bln vs the $1.35 bln consensus.
DDD (30.94 -3.7%): Initiated with an Underperform at Longbow. 1:48 pm Stock indices slide under intraday range troughs to set new session lows -- Dow -196, S&P -21, Nasdaq Comp -41 (:TECHX) :

11:50 am Stocks/ETFs that traded to new 52 week highs/lows this session - New lows (280) outpacing new highs (163) (:SCANX) : Stocks that traded to 52 week highs: AAP, ABMD, ACAD, ACNB, AEC, AERI, AFSI, AIRT, ALCO, ALL, APH, AVB, AVX, AWK, AYR, BABY, BDC, BFAM, BG, BMRN, BMS, BWLD, CALA, CATO, CEMP, CEV, CFG, CHFN, CHKE, CHSP, CLDT, CMN, CMPR, CMS, CODE, COST, CSS, CY, DEPO, DG, DMB, EIX, ENFC, EOT, EQR, ESPR, ESS, EVM, EXAM, EXAS, FAF, FCNCA, FE, FFIV, FII, FOLD, FTNT, GPI, GSIG, GTS, HAWK, HAWKB, HCN, HCT, HMN, HNI, HR, IBKR, IDA, IDCC, IEC, IFNA, INCR, INFI, IP, ISSI, JBSS, JJSF, KITE, KR, KTWO, LFUS, LHCG, LNT, LOW, LPSB, LWAY, MAC, MACK, MDXG, MEI, MHK, MKTX, MMSI, MRGE, MSCC, MTSI, NAVI, NBH, NBIX, NEWM, NHC, NKX, NPF, NQM, NSAM, NTRI, NU, NWE, NXR, NXTM, OGS, OSIS, OSUR, OVBC, PCG, PCQ, PEOP, PFPT, PMCS, PNM, POR, PPS, PTRY, RAND, RECN, RIC, RKT, RLJ, SAM, SCI, SHO, SLG, SLM, SO, SQBK, ST, STE, STR, SUI, TEG, TREC, TRK, TSRA, TTPH, UBA, UHT, UIL, UTHR, VCV, VIRC, VTR, WDC, WDFC, WEC, WR, WSTC, WY, XEL, XENT, XOXO, ZAYO, ZNH

Stocks that traded to 52 week lows: ABCO, ACP, ADGE, AGM.A, AKO.A, ALLT, AM, AMD, AMFW, AMID, APL, AR, ARCI, AREX, ASPN, ATLS, ATW, AVAL, AVH, AWX, AXX, BAS, BBG, BBL, BBVA, BCX, BGMD, BGR, BGX, BKJ, BP, BTE, BXE, CAK, CASI, CBB, CBI, CBT, CERE, CFRX, CLD, CMLP, CNQ, CPG, CTHR, CVE, CVEO, CVRR, CVX, CXO, CZZ, DAKP, DGI, DHF, DNR, DPM, DRA, DSE, E, EAC, EBR.B, EC, ECA, EDF, EDS, EFR, EGY, EHIC, EMCB, EMD, EMITF, ENBL, ENLC, EPAX, ERF, EROC, ESCR, ESTE, ESV, FELP, FES, FET, FLS, FMSA, FSAM, FSD, FST, FTI, GASS, GBSN, GDO, GEL, GER, GGB, GGM, GLF, GLMD, GLP, GLPI, GMZ, GNBC, GPOR, GPRK, GRH, GTE, GULTU, HCCI, HELI, HES, HHY, HMG, HNW, HOS, HSBC, HUSA, HYB, HYF, HYT, HYZD, ICEL, INVT, IRR, IVH, JEC, JHI, JLS, JMEI, JMLP, KMM, KMM, KNM, KOF, KOP, KOS, KST, KST, KTOS, LAQ, LDF, LINE, LNCO, LODE, LOV, LPI, LRE, LVS, MCC, MCF, MDR, MEET, MELA, MEOH, MFRI, MHR, MHY, MIL, MILL, MIND, MPEL, MRC, MRO, MSN, MT, MTLS, MTSL, MUR, MXF, NBG, NBL, NBR, NDP, NE, NES, NGL, NGLS, NHS, NKA, NOA, NOG, NOV, NRP, NVFY, NWPX, NYMX, OAS, OCIP, OHAI, OIS, OKE, OKS, ONP, OPTT, OPWR, ORIG, OXY, PACD, PBIB, PCI, PCYO, PEO, PERI, PES, PKD, PRGN, PTEN, PTNT, PWE, PXD, QKLS, QLTY, QTWW, RDC, RDS.A, RDS.B, REE, REN, RGSE, RIG, RIO, RLOG, RNF, ROIA, ROIAK, ROSE, RRC, S, SALT, SCL, SD, SEAC, SEAS, SFL, SGL, SID, SLB, SLH, SM, SMT, SNR, SPN, SPP, SQNS, SRV, SSL, SSN, STN, STO, STRL, SU, SWN, SWSH, SZC, TAS, TAT, TBIO, TCK, TECU, TGA, TITN, TLI, TLP, TOPS, TOT, TRF, TRUP, TS, UNT, UPL, VALE, VALE.P, VET, VGI, VIEW, VIP, VLT, VTG, WATT, WFT, WLL, WYNN

ETFs that traded to 52 week highs: ICF, XLU

ETFs that traded to 52 week lows: AFK, BNO, DBC, DIG, EWY, EWZ, FXC, GSG, HYG, IEO, IGE, IXC, IYE, JNK, OIH, OIL, RSX, SLX, UGA, USCI, USO, XES, XLE, XOP

8:01 am First Solar and Clean Energy Collective announced that they have formed a strategic partnership to develop and market community solar offerings to residential customers and businesses directly on behalf of client utilities (FSLR) : Co and Clean Energy Collective announced that they have formed a strategic partnership to develop and market community solar offerings to residential customers and businesses directly on behalf of client utilities. Through the agreement, the two companies will jointly pursue opportunities in the community solar market. As part of the deal, First Solar has made a strategic investment in CEC and obtained an equity interest, and First Solar's CEO, Jim Hughes, and Vice President of Strategic Marketing, Marc van Gerven, will join the CEC board. Terms of the deal were not disclosed.