Cantor Morning News | Tech/Media/Telco

Even though S&Ps failed to take out a resistance level at 1100 yesterday was a decent day for the market, especially for tech stocks. Semiconductors continued upward momentum while gaming stocks (ATVI, ERTS & TTWO) enjoyed modest gains after S&P upgraded TTWO. Sprint (S +4.4%) rallied on upbeat comments from Deutsche Bank while RIMM closed down 1.14% after a number of sell-side comments about an uneventful BlackBerry Torch launch. After the close ADI delivered solid Q3 results & guided higher, stock was trading up 1% last night after the release. Continuing with the chip theme Asian chip packaging firms (Advanced Semiconductor Engineering & Siliconware) are seeing sales rebounding in August after a weak July numbers.

In media land a number of stories today highlighting the challenge of how content creators market and control their content. The cable companies seem better prepared than the music and newspaper industry are, while GOOG is the wild card, as it tends to shoot first, aim later…. (they’ve launched substantial businesses without first figuring out how to get compensated).

Macro/Technicals

Leaders: XRIT +11.6%, PLNR +9%, MTSN +8%, SMOD +8%
Laggards: ENWV -7.7%, LNET -6%, OVTI -6%, ORBC -4%

Active Names

Enterprise/Service/ SW: BR, CACI, MSFT, RNWK, ARBA, CMVT

PCs/Devices/Net: BIDU, DELL, YHOO, MOT, HPQ, UNTD, MOT, RIMM

Semis/Circuits: Storage: MTSN, LTXS, NVLS, SYNA, EMC, WDC, STX

Network Products: CSCO, BRCD, PLCM, FTR

Telco: CVC, GNCMA, ETM, VZ, T, TWX, ROIAK, VSAT

Electronic components: APH, TNB, ENS, AVX, ENTG, CREE

Media: AOL, CVC, SIRI, PLA, VMED

Smaller Caps: BDE, ADPT, LNET, EFII, CRNT, QTM, GUID

Sector News, M&A, Capital Raises

PTEC to be acquired by Marlin Equity Partners for $3.85/share in cash

GOOG having trouble getting TV networks to sign on for Google TV – WSJ

GOOG Chrome web app store to launch in October - TechCrunch

TWX HBO to start streaming programing onto mobile devices within six months - The Wrap

CBS CBS Corporation, Reliance Broadcast Network announce 50-50 JV to launch TV channels in India

MVIS secures $60M committed equity financing facility

WDC names Tim Leyden COO and Wolfgang Nickl as Senior VP and CFO

Semi equip: July orders for Japanese semi manufacturing equipment rise 186%- Nikkei

RIMM may be closing in on deal in India - NY Times

Research Away

RIMM maintained outperform at Oppenheimer after checks, px tgt to $58 from $69

CREE maintanied Buy at Wunderlich, px tgt $85

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