From Briefing.com: The Technology sector (XLK 44.32, +0.05 +0.11%) ended Wednesday on a spike to the upside. The sector traded up and down today, ending in a flurry of buying pressure as the broader market also posted a spike at the close. Other sectors closed XLU +0.52%, XLI -0.27%, XLF -0.29%, XLP -0.42%, XLV -0.44%, XLB -0.59%, XLY -0.65%, IYZ -0.66%, XLE -0.90% with only Utilities joining Tech as outperformers.
Broader market action closed with a spike to the upside, albeit all three major US indices ended below flat lines. The S&P 500 closed with the most noticeable losses, shedding 7.48 points (-0.35%) to 2102.31. The Dow Jones Industrial Average lost 50.57 points (-0.28%) today to close 17867.58. The Nasdaq Composite lost 2.65 points (-0.05%) to 5142.48. Market data today came in the form of ADP National Employment, which revealed the nonfarm private business sector rose by 182,000 in October. Also, the US Trade Deficit narrowed in September to $40.80 billion from an upwardly revised $48.00 billion (from $48.30 billion). Finally, ISM Services index data jumped to 59.1 in October from 56.9 in September.
Notably weaker today were Social Media (SOCL 19.65, -0.09 -0.46%) names. Ahead of Facebook's (FB 103.94, +1.36 +1.33%) quarterly results, the sector traded lower, breaking the two-session winning streak. Other names in the space which underperformed included GRPN -26.30%, UNTD -10.77%, DNACF -4.71%, DMD -3.99%, P -3.36%.
Networking (IGN 38.41, -0.56 -1.44%) names were the worst performing on the session as component Ixia (XXIA 12.94, -1.43 -9.95%) reported a beat on the top and bottom lines of expectations, yet traded significantly lower today. Other names in the space which displayed weakness included MSI -8.58%, COMM -2.89%, JNPR -1.89%, FFIV -1.57%.
From Briefing.com: In the S&P 500 Information Technology space (747.06, +0.69 +0.09%), a spike to the upside rescued the sector from closing below flat lines. The sector spent the majority of the session in the green, and took the spike in technology toward the end of the session in stride to edge higher. Names which held down the sector included XRX -1.03%, QCOM -1.00%, CA -0.90%, WU -0.82%, PYPL -0.79%, AMAT -0.76%, ACN -0.74%, CSCO -0.49%, AAPL -0.47% while outperformers came in the form of EA +3.32%, RHT +2.10%, QRVO +1.88%, FIS +1.66%, AVGO +1.61%, SWKS +1.39%.
Other notable news items among sector components:
Tesla Motors (TSLA 231.63, +23.28 +11.17%) confirmed Jason Wheeler as CFO, Jon McNeill as President of Global Sales and Services. Wheeler joins TSLA after 13 years at Alphabet's (GOOG 728.11, +5.95 +0.82%) Google.
Microsoft (MSFT 54.40, +0.25 +0.46%) announced that Microsoft Software & Systems Academy, which provides IT career training to eligible active-duty U.S. service members, is expanding from three locations to nine and will be servicing 12 military installations.
MSFT also announced that Halo 5 has topped $400 million in sales a week after launching; the franchise now has over $5 billion lifetime sales.
Solera Holdings' (SLH 54.84, +0.18 +0.33%) subsidiary Hollander, signed a five-year extension of its business partnership with eBay (EBAY 29.30, +0.40 +1.38%) in North America through 2020.
Elsewhere in the technology space:
FARO Techs (FARO 24.34, -10.91 -30.95%) in addition to reporting quarterly results, announced that President and CEO Jay Freeland plans to step down from his role; a subcommittee has been formed to search for a successor.
Checkpoint Systems (CKP 5.97, -1.72 -22.37%) in addition to reporting quarterly results, discovered financial statement errors attributable to the accounting for its quarterly income tax provision. The company said various previous financial statements should no longer be relied upon.
Fleetmatics (FLTX 57.90, +4.05 +7.52%) acquired SAAS fleet management solutions firm Visirun S.p.A. Terms of the deal were not disclosed.
NIC Inc (EGOV 19.05, +0.03 +0.16%) declared a special cash dividend of $0.55 per share payable on January 4 to stockholders of record as of the close of business on November 13.
OmniVision (OVTI 28.77, +0.12 +0.42%) elected to extend the termination date specified in its Merger Agreement until January 31, 2016.
Everi (EVRI 4.57, -0.42 -8.42%) commenced the exchange offer up to $350 million in aggregate principal amount of 10.00% Senior Unsecured Notes due 2022.
xG Technology (XGTI 0.66, +0.01 +2.29%) entered into a Settlement Agreement and Mutual Release with certain holders of its pre-funded Series B Warrants to purchase common stock.
Intricon (IIN 7.93, -0.02 -0.25%) acquired assets of PC Werth. Per the deal, the company expects $4.5 to $5.5 million in annual revenue generation and accretion to EPS.
Ericsson (ERIC 9.96, +0.03 +0.30%) announced that it has signed a multi-year news captioning contract with ANC, Australia's leading 24-hour multi-channel, multi- platform news service provider. Ericsson will provide live captioning services for SKY NEWS LIVE and SKY NEWS BUSINESS, which are broadcast to 2.8 million subscribing homes across Australia on subscription television provider Foxtel.
Sierra Wireless (SWIR 25.23, -0.16 -0.63%) announced that Itron has selected AirPrime HL Series modules to enable cellular connectivity in its latest line of smart gas meters. The point-to-point residential meters will begin shipping later this quarter to support smart metering initiatives across Europe, beginning with a deployment in Italy.
Attunity (ATTU 12.76, -0.14 -1.09%) announced the extension of its OEM distribution agreement with Microsoft (MSFT).
Booz Allen Hamilton (BAH 29.00, -0.86 -2.88%) announced a secondary offering of 13 million shares of Class A common stock by an affiliate of The Carlyle Group (CG 20.55, +0.13 +0.64%).
Proofpoint (PFPT 71.56, +0.73 +1.03%) acquired social media compliance firm Socialware for $9 million in cash.
Relm Wireless (RWC 4.54, +0.11 +2.48%) received an $860K purchase order from Alberta Health Services for P25 800MHz portable radios and accessories.
GSI Group (GSIG 13.30, +0.13 +0.99%) to acquire the assets of Lincoln Laser Company for $11 million.
United Online (UNTD 10.27, -1.24 -10.77%) announced President and CEO Francis Lobo will resign effective November 18.
RigNet (RNET 31.16, -0.30 -0.95%) to acquire TECNOR. Financial terms of the deal were not disclosed.
GigaMedia (GIGM 0.53, +0.01 +1.72%) to seek shareholder approval to effect a reverse stock split, anticipated at a ratio of 1-5.
In reaction to quarterly results:
MaxLinear (MXL 16.79, +3.66 +27.88%) reported Q3 EPS which beat expectations at $0.40 on revenues which were mostly in-line at $95.2 million. The company guided Q4 revenues better than expected at $95-100 million.
Five9 (FIVN 5.54, +0.95 +20.70%) reported Q3 loss per share and revenues which were better than anticipated. EPS came in ($0.08), while revenues were $32.29 million. Also, FIVN guided for Q4 EPS better than expected of ($0.09)-($0.07) on revenues which were guided in-line at $32.5-33.5 million.
Paycom Software (PAYC 45.73, +6.58 +16.81%) reported Q3 EPS and revenues which were better than expected. EPS for the period was $0.08 on revenues of $55.3 million. PAYC guided for Q4 revenues better than expected at $59.5-61.5 million.
WebMD Health (WBMD) beat the top and bottom lines of expectations for Q3; the company reported EPS of $0.32 on revenues of $152.6 million. WBMD guided Q4 revenues in-line with expectations at $181-191 million.
FARO Techs (FARO) reported mixed Q3 results with EPS coming in above expectations at $0.38 on revenues which were worse than expected at $72.51 million. The company also added $20 million to the buyback authorization and announced plans to reduce the workforce by 8%.
Wi-LAN (WILN 1.39, -0.52 -27.23%) reported EPS in-line and a miss on revenues for the Q3 period. GAAP EPS for Q3 was $0.01 on revenues of $21.44 million. The company also announced the restructuring of 30% of the workforce and plans to spin out the R&D unit. The company also announced the postponement of the CEO's retirement.
Checkpoint Systems (CKP) reported Q3 EPS and revenues which missed expectations on EPS of $0.07 with revenues of $145.9 million. The company also lowered FY15 revenues guidance to in-line at $575-600 million.
Zillow (ZG) reported Q3 EPS of $0.07 on revenues of $176.8 million.
Analyst actions:
WBMD was upgraded to Buy from Hold at Stifel,
GTT was upgraded to Buy from Hold at Drexel Hamilton,
GIB was upgraded to Buy from Hold at Desjardins,
PERI was upgraded to Buy from Neutral at Chardan Capital;
SWI was downgraded to Mkt Perform from Outperform at FBR Capital,
HPQ was downgraded to Neutral from Overweight at JP Morgan,
FARO was downgraded to Perform from Outperform at Oppenheimer,
OIIM was downgraded to Market Perform from Outperform at Northland Capital
4:47 pm Microchip beats by $0.03, beats on revs; guides Q3 EPS in-line, revs in-line (MCHP) :
Reports Q2 (Sep) earnings of $0.66 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.63; revenues rose 2.4% year/year to $559.4 mln vs the $552.58 mln Capital IQ Consensus. On a non-GAAP basis: gross margins of 57.9% Co raised guidance on Sept 8: EPS to $0.60-0.66 from $0.58-0.66; rev to $545-563 mln from $532-569 mlnCo issues in-line guidance for Q3, sees EPS of $0.58-0.64 vs. $0.63 Capital IQ Consensus Estimate; sees Q3 revs of $539.7-563.5 vs. $559.76 mln Capital IQ Consensus Estimate.
4:12 pm Axcelis Tech beats by $0.01, beats on revs; guides Q4 EPS below consensus, revs below consensus (ACLS) :
Reports Q3 (Sep) earnings of $0.05 per share, $0.01 better than the Capital IQ Consensus of $0.04; revenues rose 105.9% year/year to $79.32 mln vs the $78.13 mln Capital IQ Consensus. Co issues downside guidance for Q4, sees EPS of breakeven vs. $0.03 Capital IQ Consensus Estimate; sees Q4 revs of $60-65 mln vs. $71.01 mln Capital IQ Consensus Estimate. Gross margin in the fourth quarter is expected to be approximately 33-34%. Fourth quarter operating profit is forecasted to be approximately $1 million with breakeven earnings per share. Cash and cash equivalents at the end of the fourth quarter are expected to be approximately $80 million.
4:12 pm Coherent beats by $0.26, reports revs in-line (COHR) :
Reports Q4 (Sep) earnings of $1.25 per share, $0.26 better than the Capital IQ Consensus of $0.99; revenues rose 2.1% year/year to $209.6 mln vs the $208.73 mln Capital IQ Consensus.
4:08 pm Qualcomm beats by $0.05, beats on revs; guides Q1 EPS below consensus, revs in-line (QCOM) :
Reports Q4 (Sep) earnings of $0.91 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.86; revenues fell 18.5% year/year to $5.46 bln vs the $5.21 bln Capital IQ Consensus. Co issues guidance for Q1, sees EPS of $0.80-0.90, excluding non-recurring items, vs. $1.08 Capital IQ Consensus Estimate; sees Q1 revs of $5.2-6.0 bln vs. $5.74 bln Capital IQ Consensus Estimate. Sees MSM chip shipments down 9-17% YoY.4:05 pm : The stock market snapped its two-day streak on Wednesday, but the midweek pullback was fairly modest in scope. The S&P 500 shed 0.4% while the Nasdaq Composite (-0.1%) outperformed, settling just below its flat line.
Equity indices began the day on a modestly higher note, but the slight early strength faded quickly, sending the major averages into the red during the opening hour. In addition, investors heard from Fed Chair Janet Yellen who addressed the House Financial Services Committee to discuss regulation and supervision of financial institutions; however, the Q&A portion drifted towards questions about the upcoming December policy meeting with Fed Chair Yellen reiterating that a rate hike could happen in December if economic data shows improvement.
Eight sectors ended the day in negative territory with energy (-1.0%) spending the bulk of the session behind the remaining nine groups. It is worth noting that today's slide followed a 5.0% gain over the past two days and the sector also had to contend with selling in the commodity market where crude oil fell 3.4%, ending the pit session at $46.32/bbl.
Unlike energy, the remaining decliners posted slimmer losses than 0.7%, but relative weakness among the likes of consumer discretionary (-0.6%) and health care (-0.5%) kept the market in negative territory until the close.
The discretionary sector underperformed with apparel retailers ending mostly lower, which overshadowed a better than expected earnings report from Michael Kors (KORS 42.58, +3.26). Shares of KORS spiked 8.3% after better than expected results and upbeat fiscal-year 2016 guidance overshadowed a cautious outlook for Q3. Elsewhere in the sector, media names also lagged even though CBS (CBS 47.96, -0.28) and Time Warner (TWX 72.19, -5.11) reported better than expected results.
On the upside, the technology sector (+0.1%) outperformed, spending the trading day in the neighborhood of its flat line, which prevented a larger pullback from taking shape. Large cap components ended the day on a mixed note while chipmakers outperformed with the PHLX Semiconductor Index climbing 0.3%.
Similar to stocks, Treasuries retreated with the 10-yr yield rising two basis points to 2.23%.
Today's participation was ahead of average as more than 900 million shares changed hands at the NYSE floor.
Economic data included ADP Employment, Trade Balance, and ISM Services:
The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 182,000 in October while the Briefing.com consensus expected a reading of 180,000
The September reading was revised down to 190,000 from 200,000
The U.S. trade deficit narrowed in September to $40.80 billion from an upwardly revised $48.00 billion (from -$48.30 bln) in August while the Briefing.com consensus expected a reading of $43.00 billion
Notably, the September trade deficit was not that far off from the BEA's estimate of -$40.60 billion that was embedded in the advance Q3 GDP report. Accordingly, revisions to net exports shouldn't have much bearing on the second estimate for Q3 GDP
The improvement in September was owed to imports being $4.20 billion less than August imports and exports being $3.00 billion more than August exports
The ISM Services index jumped to 59.1 in October from 56.9 in September while the Briefing.com consensus expected a reading of 56.6
The October reading was the second-highest mark this year, preceded only by the 60.3 reading in July, which was the highest level since August 2005
Tomorrow, weekly Initial Claims (Briefing.com consensus 262,000) and preliminary Q3 Productivity/Unit Labor Cost data will be reported at 8:30 ET.
Nasdaq Composite +8.6% YTD
S&P 500 +2.1% YTD
Dow Jones Industrial Average +0.3% YTD
Russell 2000 -1.1% YTD
11:52 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (110) outpacing new lows (53) (SCANX) : Stocks that traded to 52 week highs: ADBE, AEGN, AIZ, AMRK, AMZN, ANSS, ATHN, ATO, AVD, AZZ, BABY, BGSF, BNCN, BOCH, BSFT, BSQR, BYD, CACI, CDW, CHMT, CIA, CMN, CNCE, CONE, CPS, CTRP, DEI, DHR, DRAD, DY, EVC, FFG, FLTX, FMX, GOOGL, HA, HSIC, IM, INGR, IOSP, IRMD, JCOM, JNPR, LANC, LB, LDL, LDOS, LII, LMCA, LOXO, LXFT, MANH, MAS, MBTF, MCRI, MENT, MGM, MNP, MSFT, MTN, MXL, MYGN, NBBC, NEWR, NFX, NOW, NP, NTGR, NTI, NVX, NXTM, NYRT, OCFC, OCLR, OFLX, OLBK, ONFC, PAC, PAYC, PCLN, PEGA, PFGC, PFPT, PNQI, POOL, PPBI, PSX, QQQ, RDI, RH, RHT, RNG, ROCK, RTEC, SBGI, SHEN, SOCB, STE, SVBI, TCBK, TSO, TTS, VG, VRTU, WD, WFBI, WST, WTR, XIN, YDKN
Stocks that traded to 52 week lows: BEP, BGG, BLMN, BRFS, CKP, CLH, COSI, DAKP, DAVE, DDD, DSW, DXYN, EMMS, ENPH, ESCR, ETSY, EYEG, FARO, FDEU, FREE, GNK, GOGL, GRPN, HF, HSNI, IPHS, KVHI, LLEX, LSBG, MCUR, NM, NTK, OIIM, OPGN, PAGP, PCTI, PHI, QUAD, RDN, REGI, RLOC, RTIX, SALT, SBLK, SEMG, SNH, SQQQ, STKS, TGH, THR, TST, UCP, WILN
ETFs that traded to 52 week highs: IGV, QQQ, XLK, XLY
ETFs that traded to 52 week lows: COW
7:11 am Motorola Solutions beats by $0.09, reports revs in-line; guides Q4 EPS below consensus, revs below consensus (MSI) :
Reports Q3 (Sep) earnings of $0.82 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.73; revenues fell 1.0% year/year to $1.42 bln vs the $1.41 bln Capital IQ Consensus. Co issues downside guidance for Q4, sees EPS of $1.45-1.50, excluding non-recurring items, vs. $1.58 Capital IQ Consensus Estimate; sees Q4 revs declining 6-8% YoY, which calculates to $1.68-1.71 bln vs. $1.81 bln Capital IQ Consensus Estimate.
AI
Market Data 
Markets 
