This morning in earnings:
SOHU (-9.83%) reported Q2 earnings beat and inline rev; guides Q3 inline
CYOU (-18.6%) posted Q2 bottom line beat and was inline on top line; guides Q3 below consensus
DSPG (-3.2%) beat on EPS and rev
In news, ZBRA (-0.36%) announced the release of the MotionWorks Sports Solution, a sports statistics, event and visualization platform. NLST (+3%) has received a notice of allowance from the USPTO in a patent application claiming key functions in non-volatile DIMMs. The patent application is directed to controlled transfer of critical information from volatile memory to non-volatile memory in response to events such as power disruption or failure.
After a busy week, there are no IPOs to open for trading today, nor are there any IPOs expected to price tonight
In M&A, DELL (-1.35%) In a letter issued to the co on Monday, Icahn and Southeastern Asset Management defended the "Unaffiliated Stockholder Approval" as "one of the most important" protections to shareholders of the personal computer maker. Last week, founder Michael Dell and Silver Lake Partners unveiled a "best and final proposal" to buy out the struggling PC company and take it private. The deal values Dell at $13.75 per share.
In rumors, AAPL (+1.4%) there is a story in the Taipei Times that supplier Hon Hai has hired 90K workers to help shipments making the rounds. BBRY (-1.9%) and NOK (-1%) will not introduce 5-inch or larger smartphones this year, according to reports.
Among notable analyst upgrades in tech this morning, QSII (+3.6%) upgraded from Neutral to Buy at Sterne Agee, MTD (+0.82%) raised from Hold to Buy at Cantor Fitzgerald
In downgrades, CYOU (-18.6%) downgraded from Buy to Neutral at BofA/Merrill, RVBD (-1.9%) cut to Market Perform from Outperform at Northland Capital, FLIR (-0.3%) downgraded to Underweight from Neutral at JP Morgan, FTNT (-1.2%) cut to Market Perform from Outperform at Northland Capital
ADVS (+0.1%), RATE (+0.7%), CGNX (-0.8%), NATI (+0.5%), PMCS (+0.4%), FIRE (+0.12%), SONS (+0.6%) are the notable names in tech scheduled to report after the close. ADS (-0.05%), CVLT (-1.9%), GLW (+0.85%), FIS (-0.4%), HRS (+0.2%), S (+0.17%), VSH (+0.0%) report tomorrow before the open.