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TECH STOCKS: AMD Leads Tech Retreat, But Netflix, Apple Gain

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- The tech sector stood in negative territory in early post-holiday trading, as shares of Advanced Micro Devices headed south after Sterne Agee downgraded its rating to neutral. AMD (AMD) shed nearly 3% to $5.86 on Thursday, ranking as one of the worst performers within the S&P 500 index. Analyst Vijay Rakesh cut his rating on the chipmaker, citing expectations for a slowing personal computer market. "We believe the slowing PC market limits upside," Rakesh wrote. "While AMD continues to execute, material upside to consensus might be limited given PC transition and competitive headwinds." The Philadelphia Semiconductor Index (SOX) fell 2%, while the Nasdaq Composite Index (RIXF) slipped a fraction to 2,960. Within the Dow Jones Industrial Average, tech components Intel Corp. (INTC) and Cisco Systems (CSCO) were among the top decliners, as Wall Street reacted to the European Central Bank president's comments on downside risks to euro-area growth. On the upside, shares of Netflix Inc. (NFLX) jumped more than 8% to $78.22, while Yelp Inc. (YELP) saw its stock gain about 10% to $27.20. Shares of Apple Inc. (AAPL) were also up, gaining nearly 1% at $604.75 in the early going.

Stock News for Apple (AAPL)
DateTimeHeadline
04/21/201417:31:21MARKET SNAPSHOT: Stocks Rise; S&P 500 In Longest Win Streak In...
04/21/201417:24:18TECH STOCKS: AMD, Netflix Gain In Late Tech Action
04/21/201417:21:12Nokia to Close Sale of Handset Business to Microsoft on Friday...
04/21/201417:20:30TECH STOCKS: AMD Climbs; Netflix Slips Ahead Of Earnings
04/21/201417:20:09MARKET SNAPSHOT: U.S. Stocks Edge Up; Halliburton Rallies
04/21/201417:08:40MARKET SNAPSHOT: U.S. Stocks Pare Gains; Halliburton Rallies
04/21/201415:53:35MARKET SNAPSHOT: U.S. Stocks Rise As Results From Halliburton...
04/20/201420:19:19Apple, Google Vie to Offer Exclusive Game Apps
04/20/201406:17:33MARKET SNAPSHOT: Long View On Stocks Is Best During Weak Earnings...
04/17/201417:12:18TECH STOCKS: SanDisk, Weibo Gains Pace Tech Stocks
04/17/201411:10:53TECH STOCKS: IBM Losses Can't Hold Back Tech Gains
04/16/201421:22:37Home Depot Joins the Shale Rush
04/16/201403:30:51Burberry Expects Currency Movements to Hurt Profit
04/15/201423:31:29Columnist Joanna Stern answers readers' technology questions
04/15/201415:45:12TECH STOCKS: Twitter Rallies 8% As Nasdaq Reclaims 4,000
04/15/201411:57:09Twitter Buys Data Partner Gnip -- 3rd Update
04/15/201411:33:26TECH STOCKS: Nasdaq Back Below 4000; Apple, Google Fall
04/14/201418:36:08Samsung Executive Testifies in Patent Case Against Apple
04/14/201410:58:23TECH STOCKS: Nasdaq Back Above 4,000 As Tech Plays Rally
04/11/201422:11:43Samsung Leans on Google for Aid in Apple Suit

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