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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
07/11/201415:12:41MARKET SNAPSHOT: U.S. Stocks Pick Up; Amazon Rallies
07/11/201411:21:46MARKET SNAPSHOT: U.S. Stocks: Genworth, Fastenal Losses Weigh...
07/11/201410:47:50TECH STOCKS: Amazon Rallies; Microsoft, IBM Slip
07/11/201409:28:55MARKET SNAPSHOT: U.S. Stocks: Futures Rebound; Wells Fargo Meets...
07/11/201408:10:33MARKET SNAPSHOT: U.S. Stocks: Futures Rebound; Wells Fargo Earnings...
07/11/201408:08:21China Labels iPhone a Security Threat
07/10/201416:28:12TECH STOCKS: Apple, LinkedIn Lead Tech Retreat
07/10/201412:04:35TECH STOCKS: Apple, Yahoo Lead Tech Retreat
07/08/201416:38:30TECH STOCKS: Google, Twitter, Facebook Lead Tech Retreat
07/08/201416:13:03TECH STOCKS: Google, Twitter And Facebook Lead Tech Retreat;...
07/08/201400:30:50New Tech Group Joins Crowded Field to Set Rules for 'Internet...
07/07/201417:15:59MARKET SNAPSHOT: U.S. Stocks End Lower; Biotechs, Internet Stock...
07/07/201416:41:44TECH STOCKS: Apple, Applied Materials Rise; Twitter, Facebook...
06/26/201416:42:53Correction to Apple IPod Touch Story
06/26/201416:40:47Apple Cuts Prices on IPod Touch
06/26/201412:54:11Taiwan Central Bank Keeps Key Interest Rates Unchanged -- 2nd...
06/25/201416:45:11TECH STOCKS: Google, Zulily Lead Tech Gains
06/25/201416:21:33Czech O2 to Renew iPhones Sales After Refusing to Stock Apple...
06/25/201416:20:26TECH STOCKS: Google, Zulily Gain In Mixed Day For Tech Stocks
06/25/201405:59:33Hon Hai in Talks to Make Smartphones for Photo-App Developer

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