In tech earnings, CNQR (+2.6%) issued downside Q2 sales guidance and inline EPS guidance this morning. In news, DISH (-6.9%) proposed a merger with S (+14.1%) for $25.5 bln. S shareholders would receive $7.00 per share ($4.76 per share in cash and 0.05953 DISH shares per S share). Meanwhile, PCS (-3.7%) amended agreement to combine with T-Mobile USA (DTEGY -2.2%); under the revised agreement, PCS stockholders will continue to receive an immediate $1.5 bln aggregate cash payment. Elsewhere, PLT (-1.9%) announced its President/CEO is taking temporary leave of absence. Among notable analyst upgrades this morning in the tech space, RBC upgraded GIB (+0.7%) to Outperform. Among downgrades, OPEN (-4.9%) was downgraded to Neutral at JP Morgan, TSM (-1.3%) was downgraded to Equal-Weight at Morgan Stanley and INFY (-2.4%) was downgraded to Neutral at BofA/Merrill. There are no notable names in tech scheduled to report quarterly results today after the close.
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