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From Briefing.com: 4:13 pm Cisco Systems beats by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs below consensus (CSCO) :

Reports Q1 (Oct) earnings of $0.59 per share, $0.03 better than the Capital IQ Consensus of $0.56; revenues rose 3.6% year/year to $12.68 bln vs the $12.65 bln Capital IQ Consensus.Gross margin and product gross margin were 63.2% and 62.3% respectively.Operating expenses were $4.1 billion, down 1%, and at 32.7% of revenueCo issues downside guidance for Q2, sees EPS of $0.53-0.55 vs. $0.56 Capital IQ Consensus Estimate; sees Q2 revs +0-2% YoY, equates to roughly $11.94-12.17 bln vs. $12.54 bln Capital IQ Consensus Estimate."We guided to solid growth in Q2. Our guidance reflects lower than expected order growth in Q1, driven largely by the uncertainty of the macro environment and currency impacts. Despite these headwinds, I believe we are executing very well. We are moving very fast to capture new opportunities and I feel good about how we are positioned for the second half of the year.

4:11 pm Seagate Tech forms a new business, Seagate Government Solutions, to address government data-mgmt needs (STX) : The new Seagate entity will focus on the federal government's big data, high performance computing, and security needs

4:07 pm Applied Materials reports EPS in-line, misses on revs; guides Q1 EPS in-line, revs in-line (AMAT) :

Reports Q4 (Oct) earnings of $0.29 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.29; revenues rose 4.6% year/year to $2.37 bln vs the $2.4 bln Capital IQ Consensus. Co issues in-line guidance for Q1, sees EPS of $0.23-0.27, excluding non-recurring items, vs. $0.25 Capital IQ Consensus Estimate; sees Q1 revs -2 to -9% QoQ ~$2.15-2.32 bln vs. $2.28 bln Capital IQ Consensus Estimate.

Tech Stocks Market Report: The broader market closed the session near lows of the day as a sell-off at the close took all three major indices down. The Dow Jones Industrial Average closed with the worst losses, shedding 254.15 points (-1.44%) to 17448.07. The S&P 500 was not far behind, losing 29.03 points on the day (-1.40%) to 2045.97. The Nasdaq Composite rounded out the bunch lower by 61.94 points (-1.22%) to 5005.08. Reported market data today was Initial Claims and JOLTS. Initial Claims were unchanged from the prior week at 276,000, while continuing claims for the week ending October 31 rose by 5,000 to 2.174 million from an upwardly revised 2.169 million. The September Job Openings and Labor Turnover Survey showed that job openings insreased to 5.526 million from 5.377 million.

For its part, the Technology (XLK 43.22, -0.38 -0.87%) sector posted modest losses, finishing at lows of the day though as the broader market also sold off into the close. Names in the space which posted losses included STX -5.65%, HPQ -4.38%, MA -2.58%, WU -2.54%, FLIR -2.09%, RHT -2.03%, GLW -2.00%. Other sectors finished as follows XLE -2.27%, XLB -2.01%, XLV -1.73%, XLF -1.51%, XLI -1.36%, XLP -1.35%, XLU -0.95%, XLY -0.93%, XLK -0.87%, IYZ -0.85%.

Semiconductors (SOX 649.77, -8.51 -1.29%) were again under pressure as component SunEdison (SUNE 4.53, -0.37 -7.45%) was downgraded to Sell at Axiom Capital. SUNE also reported mixed earnings on November 10, with a beat on the top line and a miss on the bottom, resulting in subsequent cautious analyst views in the days since that time. Other names in the sector under pressure today were SWKS -4.12%, CREE -4.08%, ON -3.34%, TER -2.63%, MRVL -2.38%, CAVM -2.36%, QRVO -2.36%, NXPI -2.34%, LRCX -1.80%, TXN -1.61%.

Bucking the broader market trend today was the Social Media (SOCL 19.58, -0.06 -0.31%) sector, which posted modest gains as names like DMD +6.54%, YELP +3.68%, WB +2.51%, NTES +2.18%, CYOU +2.01%, RENN +1.71%, YY +1.63% outperformed. The story of the day actually came after the close yesterday, as InterActiveCorp (IACI 65.24, -0.07 -0.11%) bid for Angie's List (ANGI 8.97, +1.05 +13.26%) at $8.75 per share. IAC has also indicated its willingness to consider a combination of ANGI with IAC's HomeAdvisor business through a tax-free stock-for-stock exchange.

In the S&P 500 Information Technology sector (727.92, -6.71 -0.91%), action also ended near lows of the day as the broader market dragged down IT. Only three components managed the close the session with gains EA +0.50%, JNPR +0.30%, CSCO +0.11% as selling pressure ran from bell to bell.

Other notable news items among sector components:

H.B. Fuller (FUL 37.99, -1.35 -3.43%) announced it has been awarded $12.8 million in arbitration case against Accenture (ACN 104.32, -0.78 -0.74%). The arbitrator also ruled the company does not owe $1.4 million in fees.

IBM (IBM 133.04, -1.98 -1.47%) and HCL Technologies announced a strategic partnership to jointly build hybrid cloud solutions to help enterprises drive their digital transformations.

Western Digital (WDC 62.40, -0.20 -0.32%) updated on transaction with Unisplendour, received two regulatory approvals, transaction expected to close between 4Q15-1Q16.

HP (HPQ 13.31, -0.61 -4.38%) declared a regular quarterly cash dividend of $0.124 per share following separation of Hewlett Packard Enterprise (HPE 13.70, -0.41 -2.98%).

Juniper Networks (JNPR 29.65, +0.09 +0.30%) appointed Kevin Walker as Security Chief Technology Officer.

Computer Sciences (CSC 66.38, -0.72 -1.07%) confirmed it has sent a letter to Xchanging plc's (XCNGF) Board, making an offer to acquire the company for 170 pence per share.

Elsewhere in the technology space:

Angie's List (ANGI) received a proposed takeover offer from InterActiveCorp (IACI) for $8.75 per share.

NCR Corp (NCR 26.43, -0.35 -1.31%) announced an $820 million investment from Blackstone (BX), which it will use to fund a $1 billion dutch auction for common shares, between $26 and $29.50 per share.

Vringo (VRNG 0.33, +0.01 +1.70%) reported a favorable ruling in Romania and China regarding its litigation with ZTE (ZTCOF 2.25 flat).

Anadigics (ANAD 0.33, +0.09 +41.17%) to be acquired by GaAS Labs for $0.35 per share. The company also announced Q3 results with an EPS loss of $0.06 per share on revenues of $12.12 million.

Net 1 UEPS Techs (UEPS 15.78, -0.02 -0.13%) reported the closure of an investigation by the Serious Economic Offences Unit of the South African Police Service into corruption allegations.

Nokia (NOK 7.28, -0.03 -0.41%) announced that the French Stock Market Authority has approved the company's public exchange offer for the securities of Alcatel Lucent (ALU 3.94, -0.02 -0.63%) and delivered its visa on Nokia's offer document.

In reaction to quarterly results:

Netease.com (NTES 153.34, +3.27 +2.18%) reported Q3 EPS and revenues which beat expectations at $2.44 and $1.05 billion, respectively.

Digital Ally (DGLY 5.84, -1.67 -22.24%) reported Q3 GAAP EPS of ($0.45) on revenues which rose 9.2% YoY to $5.1 million. The company also noted it does not expect total 2015 revenues to reach original goal of $25 million.

MAXIMUS (MMS 53.61, -15.03 -21.90%) reported mixed Q4 results with better than expected EPS of $0.53 on worse than expected revenues of $578.7 million. The company also lowered guidance for FY16 with EPS of $2.40-2.70 from $2.85-3.05. MMS also reaffirmed FY16 revenues guidance of $2.4-2.5 billion.

Determine (DTRM 3.24, -0.88 -21.36%) reported a miss on the top and bottom lines of Q2. EPS came in at a loss of $0.32 per share on revenues which rose 30.8% YoY to $6.8 million.

Himax Tech (HIMX 6.15, +0.04 +0.65%) reported Q3 EPS in-line with expectations at $0.01 on revenues which beat and fell 25.5% YoY to $165.6 million. HIMX also guided Q4 EPS of $0.01-0.03 on revenues of flat to +5% sequentially to about $165-172 million.

Companies scheduled to report quarterly results tonight/tomorrow morning: AMAT, AVNW, CSCO, MXPT, RPD/MTLS

Analyst action:

MGIC was upgraded to Overweight from Equal Weight at Barclays,
GIB was upgraded to Buy from Hold at Societe Generale,
ANGI was upgraded to Mkt Perform from Underperform at Raymond James,
KKPNY was upgraded to Buy from Hold at HSBC Securities;
SUNE was downgraded to Sell from Neutral at Axiom Capital,
DOX was downgraded to Equal Weight from Overweight at Barclays,
CACI was downgraded to Hold from Buy at Noble Financial

4:10 pm : The stock market could not avoid its second consecutive retreat on Thursday with the S&P 500 (-1.4%) falling below its 200-day moving average (2,064). The benchmark index retreated throughout the session while the Nasdaq Composite (-1.2%) settled a step ahead.

Equity indices faced selling pressure from the get-go with the early weakness following a cautious session in Europe where markets in France, Germany, and Spain lost between 1.2% and 2.3%. Things did not improve by the start of the New York Session, which led to opening losses in nine of ten sectors.

Most notably, the energy sector (-2.4%) struggled from the start and the significant underperformance in the growth-sensitive group set the tone for a down day. The sector widened this week's decline to 5.4% while crude oil fell 2.7% to $41.78/bbl.

Similar to energy, the materials sector (-2.0%) finished at the bottom of the leaderboard while other groups posted slimmer losses. For instance, the top-weighted technology sector (-0.9%) outperformed throughout the session, which prevented a bigger decline from unfolding.

Elsewhere on the cyclical side, the consumer discretionary space (-1.0%) settled ahead of the broader market thanks to gains in select apparel retailers after Kohl's (KSS 45.82, +2.66) reported better than expected results. Shares of KSS spiked 6.2% while the SPDR S&P Retail ETF (XRT 44.05, -0.57) could not stay out of the red, falling 1.3%.

Moving to the countercyclical side, the utilities sector (-1.2%) held a slim gain at the start, but could not hold its ground into the afternoon. The rate-sensitive group settled just ahead of the S&P 500 while consumer staples (-1.4%) and health care (-1.8%) registered wider losses. Biotechnology contributed to the underperformance in health care with the iShares Nasdaq Biotechnology ETF (IBB 320.11, -6.74) dropping below its 50-day moving average (325.10). The high-beta ETF fell 2.1%, extending this week's decline to 3.1%.

Unlike stocks, Treasuries spent the day in the green, forcing the 10-yr yield lower by a basis point to 2.32%.

Today's participation was essentially in line with recent averages as 850 million shares changed hands at the NYSE floor.

Economic data included Initial Claims, JOLTS, and the Treasury Budget:

Weekly initial claims were unchanged from the prior week at 276,000 (Briefing.com consensus 269,000) while continuing claims for the week ending October 31 rose by 5,000 to 2.174 million (Briefing.com consensus 2.155 mln) from an upwardly revised 2.169 million (from 2.163 million)
Initial claims have ranged primarily between 250,000 and 300,000 since July 2014, so there was nothing out of the ordinary about the latest claims report, which wasn't influenced by any special factors
The four-week moving average for initial claims increased by 5,000 to 267,750, which is near levels seen in April 2000
The September Job Openings and Labor Turnover Survey showed that job openings increased to 5.526 million from 5.377 million
The Treasury Budget statement for October showed a deficit of $136.00 billion (Briefing.com consensus -$130.00 billion)
The Treasury data are not seasonally adjusted so the October deficit cannot be compared to the $91.10 billion surplus recorded in September

Tomorrow, October PPI (Briefing.com consensus 0.1%) and October Retail Sales (consensus 0.3%) will be reported at 8:30 ET while September Business Inventories (expected 0.0%) and the preliminary reading of the Michigan Sentiment Index for November (consensus 92.0) will be released at 10:00 ET.

Nasdaq Composite +5.7% YTD
S&P 500 -0.6% YTD
Dow Jones Industrial Average -2.1% YTD
Russell 2000 -4.0% YTD

DJ30 -254.15 NASDAQ -61.94 SP500 -29.03 NASDAQ Adv/Vol/Dec 644/1.66 bln/2281 NYSE Adv/Vol/Dec 564/855.3 mln/2518

3:40 pm :

The dollar index remained in the red this afternoon, but this didn't do much for some commodities
WTI crude oil remained in the red today, closing the session -2.7% at $41.78/barrel
Dec nat gas gained +0.4% at $2.27/MMBtu, but mostly remained consolidated
Gold recovered off of today's low, finishing the session -0.4% at $1081/oz. Dec silver fell -0.4% to $14.24/oz
Copper remained near today's LoD, closing -2.3% at $2.17/lb

12:32 pm Stocks/ETFs that traded to new 52 week highs/lows this session - New lows (272) outpacing new highs (37) (SCANX) : Stocks that traded to 52 week highs: ABCD, ANGI, BECN, CSWI, DNBF, EBS, EDU, EFII, FBNK, FCVA, FNWB, FRBA, FRBK, GBNK, GDDY, GDEN, GE, GENC, IBCP, LGF, LMCA, LMCK, MANU, NTES, PAM, PAR, PCBK, PFPT, PULB, SMBC, SPHS, TAP, TGS, TOWR, UHAL, VRSN, XRS

Stocks that traded to 52 week lows: AA, AAMC, ACTG, ADM, ADUS, AEG, AEGR, AGI, AJRD, ALQA, AMAG, AMDA, AMFW, AMRS, ANGO, ARGS, ARLP, ARPI, ASPN, ATI, ATLS, AVNW, AVP, AXPW, AYA, BBL, BBVA, BEP, BGG, BGX, BHP, BID, BIOD, BNTC, BOBE, BOOM, BOOT, BPT, BSL, BVN, BWEN, CBIO, CC, CDI, CEN, CGG, CHS, CKH, CLMS, CMI, CMLS, CNL, CNV, COSI, CQH, CROX, CTIC, CVA, CVGI, CXW, CYAN, DAR, DB, DCO, DDC, DDD, DECK, DSCI, DSX, DV, DYN, ECPG, EFF, EGLE, EMG, EMMS, ENBL, ENLC, ENOC, ENPH, ENVA, EQT, ERA, ESMC, ETE, ETRM, EVAR, EVEP, EVRI, FAC, FEI, FEN, FINL, FLOW, FMI, FMO, FOSL, FRPT, FSTR, FTD, FUEL, GEO, GFI, GG, GLOW, GLRE, GNRT, GNT, GPRO, GRH, GSI, GSM, GULTU, HAIN, HCN, HDNG, HIBB, HIFR, HKTV, HNW, HSGX, HY, IBM, IMN, INOV, IPHS, IPI, JCS, JGW, JHS, JMLP, KED, KLXI, KMF, KMI, KONA, KOOL, KTCC, KYN, LCI, LF, LGCY, LMNR, LRN, LTRX, LUK, LWAY, MARA, MCUR, MEMP, MIE, MIFI, MMS, MSB, MT, MW, NES, NFEC, NFG, NML, NMM, NMRX, NOR, NRF, NRP, NSAM, NSPH, NSPR, NTK, NVS, NVTA, NWPX, OI, OKE, OMCL, ONCS, OPGN, ORN, OTIV, OXBR, PAA, PAGP, PERF, PFMT, PHI, PLTM, PMTS, PQ, PRAA, PRTK, PSG, PSO, QUAD, R, RAS, RBCN, RCKY, REE, RESI, REXI, RICE, RNET, ROKA, RRMS, RTK, RUN, SB, SBLK, SCVL, SEMG, SGMS, SGNL, SJT, SKUL, SLM, SMM, SMRT, SMT, SNH, SNTA, SPXC, SRF, SSYS, STRP, SUNE, SVVC, SWIR, SWN, SXC, SXCP, SYNL, SYRX, TAS, TAT, TC, TERP, TEU, TGA, TGH, TGI, THR, TIME, TINY, TK, TLN, TLYS, TOO, TRGP, TTGT, TU, TWIN, UAE, UAN, UPL, URBN, URG, VAC, VALE, VCLT, VGGL, WGP, WILN, WLH, WPG, WPT, WRES, WRN, WTT, WYY, X, XGTI, ZHNE

ETFs that traded to 52 week highs: none

ETFs that traded to 52 week lows: DJP, GLD, GSG, IAU, JJC, PPLT, UHN, XME


10:01 am Solar3D raises FY15 sales guidance (SLTD) :

Co is increasing its guidance to $48-$52 million from its previously issued guidance of $40-$45 million. The guidance does not include revenue from acquisitions yet to be completed this year. The increase in market guidance is based on the Company's recently released sales figures, as well as its extensive sales backlog. With a sales backlog of nearly $30 million, the Company is confident in its continued sales success, allowing Company leadership to focus on identifying profitable solar companies to add to its portfolio of operation divisions.

8:34 am Pericom Semi announces that proxy firm Glass Lewis has recommended shareholders vote in favor of the pending merger w/ Diodes (DIOD) (PSEM) :

8:31 am Anadigics to be acquired by GaAS Labs for $0.35/share, announces Q3 results (shares halted) (ANAD) :

The co announced it has entered into a definitive agreement and plan of merger with affiliates of GaAs Labs to be acquired for $0.35 per share through a cash tender offer, representing a premium of 38.2% percent based on the average closing price of ANADIGICS' shares of common stock during the 30-day trading period ended November 11, 2015.

The co also reported Q3 (Sep) loss of $0.06 per share, $0.01 better than the Capital IQ Consensus of ($0.07); revenues fell 35.8% year/year to $12.12 mln vs the $12.22 mln Capital IQ Consensus.

8:06 am EZchip confirms the postponement of vote on merger with Mellanox (MLNX) and revised agreement to allow 30-day go-shop period and waiver of termination fee (EZCH) :


8:01 am Juniper Networks appoints Kevin Walker Security Chief Technology Officer (JNPR) : Walker most recently served as VP and assistant chief information security officer at Walmart.com

7:49 am SunPower guides FY16 revs above consensus ahead of analyst day (SPWR) :

Co sees FY16 non-GAAP revs $3.3-3.5 bln vs $2.85 bln Capital IQ Consensus Estimate; sees 2016 gross margin of 13-15%, EBITDA of $515-565 mln. Fiscal year 2016 financial guidance reflects the impact of planned project sales to 8point3 Energy Partners. On a non-GAAP basis, the company expects gross margin from these project sales to be partially deferred beyond 2016. On a GAAP basis, the company expects revenue and gross margin from the sale of these projects to be deferred beyond 2016. Co is holding its Analyst Day today.