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From Briefing.com: The stock market turned in another losing session, accented by modest losses for each of the major indices.

Macro issues seemed to win out as a deterrent for buyers, with Greece's recalcitrant stance on bailout renegotiations, a weaker than expected trade report out of China, and ongoing turmoil in the Russia-Ukraine standoff holding sway.

The S&P 500 information technology sector (-0.2%) lost some ground Monday in an otherwise uneventful day of trading that was light on meaningful corporate news.

Notable items from the S&P 500 information technology sector included:

Accenture (ACN 87.36, -0.79, -0.9%) : Announced Accenture Federal Services has agreed to acquire Agilex Technologies, a provider of digital solutions for the U.S. federal government; terms not disclosed

Apple (AAPL 119.72, +0.79, +0.7%): AppleInsider discusses AAPL's Macbook Air refresh which will feature

Intel (INTC 32.93, -0.36, -1.10%) Broadwell chips

Motorola Solutions (MSI 67.78, +3.12, +4.8%): Rallied on a Bloomberg article suggesting Motorola Solutions might be considering a possible sale

Qualcomm (QCOM 67.11, +0.76, +1.2%) News reports suggested the company may be close to agreeing to pay a $1 billion China antitrust fine

Seagate Technology (STX 60.40, +0.46, +0.8%): CEO sold 100K shares at $60.10 worth ~$6.0 mln Elsewhere in the technology arena:

Alibaba (BABA 86.00, +0.32, +0.4%): Announced it has agreed to invest $590 million for a minority stake in Meizu, a Chinese smartphone manufacturer.

Changyou.com (CYOU 24.16, -5.05, -17.3%): Reported Q4 (Dec) earnings of $0.25 per share which was weaker than analysts' average expectation. Revenues rose 10.8% year/year to $215.9 mln, which was ahead of estimates. For Q1, sees EPS of $0.08-0.09 and revenues of $195-200 million. The Company also announced the appointment of Jasmine Zhou as Chief Financial Officer.

PMC-Sierra (PMCS 8.97, -0.02, -0.2%): Announced that its Board has authorized a new share repurchase program for up to $75 mln of its common stock. This new program will increase the total remaining repurchase authorization to $102 million, including the $27 million that remains available for repurchases under the $275 million 2012 share repurchase authorization.

Priceline (PCLN 1033.15, +10.73, +1.1%): Announced conversion of its outstanding 1.25% Convertible Senior Notes due 2015 to be paid in cash

Sohu.com (SOHU 51.62, -4.27, -7.6%): Reported Q4 (Dec) loss of $0.36 per share, which may not have been comparable consensus estimates. Revenues rose 23.8% year/year to $477.2 million. For Q1, sees EPS of ($1.05)-($0.95) and revenues of $425-440 million.

Analyst Action:

Alcatel-Lucent (ALU 3.62, -0.03, -0.8%): downgraded to Hold from Buy at Societe Generale

Apple (AAPL 119.72, +0.79, +0.7%): target raised to $145 from $135 at Canaccord Genuity; Buy

Broadcom (BRCM 43.37, -0.42, -1.0%): target raised to $52 from $48 at Argus; Buy

Harris (HRS 75.64, -0.54, -0.7%): upgraded to Buy from Neutral at Sterne Agee... Barclays raised its target to $76 from $71

LinkedIn (LNKD 267.43, +4.03, +1.5%): Wunderlich raised its target to $300 from $250... target raised to $315 from $250 at CRT Capital; Buy

Priceline (PCLN 1033.15, +10.73, +1.1%): RBC Capital Markets lowered its target to $1300 from $1400.

Symantec (SYMC 24.75, -0.02, -0.1%): target lowered to $23 from $25.50 at Topeka Capital Markets

Twitter (TWTR 47.32, -0.69, -1.4%): target raised to $50 from $45 at Wunderlich; Buy

Yelp (YELP 42.17, -2.97, -6.5%): MKM Partners lowers its target to $65 from $86

4:10 pm : The stock market kicked off the new week on a sleepy note with the S&P 500 (-0.4%) spending the day in a 15-point range. The benchmark index settled ahead of the Dow (-0.5%), but that was a small victory considering the S&P 500 finished near its session low. Above all, today's trading volume was well below average with just 760 million shares changing hands at the NYSE floor.

Equity indices faced some pressure at the start, brought on by lingering concerns about the eurozone. Yesterday, Greek Prime Minster Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against eurozone's austerity measures. The continued defiance towards requests of the troika has led to increased chatter about a forced Greek exit from the single currency bloc. Meanwhile, Germany's Economic Affairs Minister Sigmar Gabriel called the tone of Mr. Tsipras' speech 'regrettable.' Greece's Athens General Index tumbled 4.8% in response while the Greek 10-yr note sold off to send its yield higher by 64 basis points to 10.75%.

The concerns contributed to a lower start, but the S&P 500 did not go down without a fight. The index tried to reclaim its flat line, and was able to do so briefly on the third attempt; however, the third time was hardly the charm as a slide to a fresh session low followed. Nine sectors registered losses with countercyclical health care (-1.1%) and utilities (-0.9%) ending at the bottom of the leaderboard. The utilities sector widened its February loss to 4.6% while health care lagged even as biotechnology names displayed intraday strength. The iShares Nasdaq Biotechnology ETF (IBB 313.35, -2.24) spent the bulk of the day in the green, but slumped during afternoon action to end lower by 0.7%.

Elsewhere, another countercyclical group-consumer staples (-0.7%)-also finished behind the broader market while the six cyclical groups settled in-line with or ahead of the S&P 500.

Most notably, the energy sector surrendered the bulk of its intraday gain during the final hour, but still ended ahead of others with crude oil underpinning the relative strength. The energy component gained 2.6% and finished the pit session at $52.99/bbl. On a related note, the Baltic Dry Index fell to a new all-time low, sliding below its worst level from August 1986.

Similar to energy, the technology sector (-0.2%) settled near its flat line. The largest sector by weight enjoyed support from a handful of influential components like Apple (AAPL 119.70, +0.77), Oracle (ORCL 43.40, +0.42), and Qualcomm (QCOM 67.11, +0.76) while chipmakers struggled, evidenced by a 1.1% decline in the PHLX Semiconductor Index.

Treasuries ended the day with slim gains after a daylong slide from overnight highs. The 10-yr yield slipped one basis point to 1.95%.

Tomorrow, the Wholesale Inventories report for December (Briefing.com consensus 0.2%) and December Job Openings and Labor Turnover Survey will be reported at 10:00 ET.

Nasdaq Composite -0.2% YTD
Dow Jones Industrial Average -0.5% YTD
S&P 500 -0.6% YTD
Russell 2000 -0.7% YTD

DJ30 -95.08 NASDAQ -18.39 SP500 -8.73 NASDAQ Adv/Vol/Dec 1047/1.52 bln/1801 NYSE Adv/Vol/Dec 1261/758.9/1839

3:35 pm :

Baltic Dry Index falls 5 points to its all time low of 554, initially hit in August 1986
However, this collapse is different vs the 2008 collapse
The 2008 collapse was largely demand driven. This current collapse if both supply and demand driven, but more supply driven (oversupply of vessels)
Related stocks include
DRYS, GNK, PRGN, DSX, FREE, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, SHIP, DCIX.
WTI crude oil futures rallied today and rose as high as $53.99/barrel
By the end of today's session, Mar crude has rallied $1.32 to $52.99/barrel
Natural gas futures were modestly higher all day after selling off from overnight low of $2.69/MMBtu
Apr gold and Mar silver ended the day with modest gains.

4:27 pm Cascade Microtech beats by $0.08, reports revs in-line; guides Q1 below consensus (CSCD)

Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of $0.18; revenues rose 7.6% year/year to $36.6 mln vs the $36.63 mln consensus.
Co issues downside guidance for Q1, sees EPS of $0.07-0.13, excluding non-recurring items, vs. $0.14 Capital IQ Consensus Estimate; sees Q1 revs of $32.0-35.0 mln vs. $35.25 mln Capital IQ Consensus Estimate.

4:22 pm Rudolph Tech announced U.S. District Court ruling in Rudolph's patent infringement case against Camtek (CAMT) (RTEC) : The court denied Camtek's (CAMT) motion for a new trial on damages and granted Rudolph's motion for final judgment and reinstatement of the original damages awarded at trial in 2009.Including interest, these damages now exceed $14mln. Further, the District Court enjoined Camtek from "making, using, selling and offering to sell any of its Falcon machines and any machines that are colorable imitations thereof in the United States, intended for sale and use within the United States, until the expiration of the '6,298 patent. Camtek is enjoined from:

i. Communicating with third parties for the purposes of offering to sell Falcon machines or machines that are colorable imitations thereof, where the contemplated destination of the machine is within the United States. ii. Advertising or marketing the Falcon machines or machines that are colorable imitations thereof in the United States unless it is made clear on the marketing or advertisements that Camtek's Falcon machines or machines that are colorable imitations thereof are not for sale or use in the United States. iii. Providing operator training for Falcon machines or machines that are colorable imitations thereof within the United States.iv. Reconstructing the Falcon machines sold and delivered prior to March 5, 2009 located within the United States, which includes substantially improving or otherwise substantially changing such machines relative to the state in which they were originally accepted by the customer.

4:14 pm Newport beats by $0.02, reports revs in-line; guides Q1 EPS in-line, revs in-line (NEWP) : Reports Q4 (Dec) earnings of $0.38 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.36; revenues rose 2.9% year/year to $158.7 mln vs the $157.73 mln consensus.

Co issues in-line guidance for Q1, sees EPS of $0.27-0.34 vs. $0.33 Capital IQ Consensus Estimate; sees Q1 revs of $147-154 mln vs. $153.18 mln Capital IQ Consensus Estimate.

4:10 pm Amkor beats by $0.24, beats on revs; guides Q1 EPS in-line, revs in-line (AMKR) : Reports Q4 (Dec) earnings of $0.38 per share, $0.24 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 13.0% year/year to $853 mln vs the $781.54 mln consensus.

Guidance: Co issues in-line guidance for Q1, sees EPS of $0.04-$0.14 vs. $0.10 Capital IQ Consensus Estimate; sees Q1 revs of $715-$765 mln vs. $739.68 mln Capital IQ Consensus Estimate.

Co states: "We also expect full year 2015 capital expenditures of around $600 million, including around $150 million of spending for our new K5 factory and R&D center in Incheon, Korea."

4:02 pm Qualcomm reaches a resolution with China's National Development and Reform Commission regarding its investigation of Qualcomm under China's Anti-Monopoly Law; co fined $975 mln and raises low end of FY15 guidance (QCOM) : The NDRC has issued an Administrative Sanction Decision finding that Qualcomm has violated the AML. Qualcomm will not pursue further legal proceedings contesting the NDRC's findings. Qualcomm has agreed to implement a rectification plan that modifies certain of its business practices in China and that fully satisfies the requirements of the NDRC's order.

Qualcomm will offer licenses to its current 3G and 4G essential Chinese patents separately from licenses to its other patents and it will provide patent lists during the negotiation process. If Qualcomm seeks a cross license from a Chinese licensee as part of such offer, it will negotiate with the licensee in good faith and provide fair consideration for such rights. For licenses of Qualcomm's 3G and 4G essential Chinese patents for branded devices sold for use in China, Qualcomm will charge royalties of 5% for 3G devices (including multimode 3G/4G devices) and 3.5% for 4G devices that do not implement CDMA or WCDMA, in each case using a royalty base of 65% of the net selling price of the device. Qualcomm will give its existing licensees an opportunity to elect to take the new terms for sales of branded devices for use in China as of January 1, 2015.

Qualcomm will not condition the sale of baseband chips on the chip customer signing a license agreement with terms that the NDRC found to be unreasonable or on the chip customer not challenging unreasonable terms in its license agreement. However, this does not require Qualcomm to sell chips to any entity that is not a Qualcomm licensee, and does not apply to a chip customer that refuses to report its sales of licensed devices as required by its patent license agreement.

Co raises FY15 EPS to $4.85-5.05 from $4.75-5.05 vs. $4.96 consensus; raises rev to $26.3-28.0 bln from $26-28 bln vs. $27.2 bln consensus.

12:53 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

VALE (7.75 +5.44%): Positive view profiled in Barron's over the weekend.
STO (19.54 +5.43%): Upgraded to Overweight from Equal-Weight at Morgan Stanley.
MSI (67.66 +4.64%): Reports out that the company is considering a possible sale of itself.

Large Cap Losers

AA (15.67 -5.43%): Downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $18.50 from $20.
UAL (64.71 -4.25%): Airlines weak as WTI continues its recovery from multi-year lows, jumping 3% on the day to $52.25/bbl (AAL, DAL also lower).
ABBV (56.07 -1.47%): Initiated with a Sell at Citigroup; tgt $53.

Mid Cap Gainers

HAS (60.48 +8.5%): Missed Q4 consensus EPS estimates by $0.02, missed on revs; raised dividend, announced additional stock buyback.
IPGP (87.02 +6.25%): Raised guidance for Q4 (Dec) to EPS of $1.06-1.07 including $0.03 F/X benefit vs prior guidance of $0.86-1.01 vs. $0.96 Capital IQ Consensus Estimate; raises Q4 (Dec) revs of $207 mln from $190-205 mln vs. $196.66 mln Capital IQ Consensus Estimate.
DO (34.8 +3.57%): Beat Q4 consensus EPS estimates by $0.07, reported revs in-line; decided not to declare a special dividend; maintained quarterly dividend.

Mid Cap Losers

TAHO (12.65 -10.35%): Tahoe and Rio Alto Mining (RIOM) announced that they have entered into a definitive agreement to combine their respective businesses.
CENX (23.11 -8.55%): Downgraded to Underweight from Neutral at JP Morgan.
SOHU (52.7 -5.71%): Reported Q4 (Dec) loss of $0.36 per share, may not be comparable to the Capital IQ Consensus Estimate of ($0.24); revenues rose 23.8% year/year to $477.2 mln vs the $471.21 mln consensus; Guide Q1 revs in-line.

11:52 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (76) outpacing new lows (44) (:SCANX) : Stocks that traded to 52 week highs: ABMD, AFH, AMC, AMPH, AMWD, AOS, AYI, BCC, BKMU, CERU, CHFN, CHRS, COTY, CPRT, CSGS, CSTE, CTB, CUBI, DM, DRIV, DST, DY, EMAN, ESPR, EXLS, FBP, FBR, FLWS, FNWB, FSS, GFF, GK, HAS, HCSG, HOFT, HTLF, IBCA, ICCC, ICE, INFY, INT, IPGP, KCG, KSS, LBY, LEN, MAS, MHLD, MOFG, MPC, MRGE, MSI, NEU, NOC, NVS, OPK, ORA, OSBC, PFBC, PGZ, PLUS, PSCD, PVTB, RDUS, RIOM, RLH, RTEC, SCHL, SIMO, SIX, SLGN, SLWD, SNA, TREX, TW, VSEC

Stocks that traded to 52 week lows: AES, ANF, ARTW, CAE, CASM, CBD, CIG, COCO, DEA, EBR.B, FSC, FXEN, GEOS, GOL, HSON, HTS, IMI, KERX, KT, LEU, MDVX, MTGE, MTLS, MVC, NKA, OMEX, ONTY, PFBX, PHT, PRXI, PTNT, PVH, SHAK, SHG, SIF, SLWD, SPDC, SYMX, SYPR, VPCO, WHX, WILC, XXII, YELP

ETFs that traded to 52 week highs: none

ETFs that traded to 52 week lows: UNG

9:00 am PMC-Sierra announces that its Board has authorized a new share repurchase program for up to $75 mln of its common stock (PMCS) : This new program will increase the total remaining repurchase authorization to $102 million, including the $27 million that remains available for repurchases under the $275 million 2012 share repurchase authorization.