Broadcom (BRCM), Micron (MU), Nvidia (NVDA), Ciena (CIEN) Dragged Down on Weak Semi Day

Broadcom (BRCM), Micron Technology (NASDAQ:MU), Nvidia (NASDAQ:NVDA) and Ciena (NASDAQ:CIEN) were all dragged down with the overall sector, as Wells Fargo (NYSE:WFC) downgraded the overall semiconductor sector from "Overweight" to "Market Weight."

Other tech stocks falling were AMD (NYSE:AMD) and Intel (NASDAQ:INTC).

The worst performer was Ciena, which in addition to the overall sector weakness, gave disappointing guidance. The company closed at $25.98, down $2.83, or 9.82 percent.

Good news in the sector was a unique event in which Western Digital (NYSE:WDC) announced they were acquiring Hitachi Global Storage Technologies (AMEX:GST) for 4.3 billion. Western Digital closed at $34.68, gaining $4.67, or 15.56 percent.