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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
02/27/201510:34:30MARKET SNAPSHOT: U.S. Stocks Trade Lower But Eyeing Monthly Gain
02/27/201509:23:51Icahn Investments Hit by Energy, Posts First Annual Loss Since...
02/27/201509:21:28MARKET SNAPSHOT: U.S. Stocks: Futures Trim Losses After Better-than-expected...
02/27/201509:21:19MARKET SNAPSHOT: U.S. Stocks: Futures Trim Losses After GDP Data
02/27/201508:57:45Ericsson Sues Apple for Patent Infringement -- 2nd Update
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02/27/201508:16:15MARKET SNAPSHOT: U.S. Stocks: Wall St. Struggles For Direction...
02/27/201506:31:31MARKET SNAPSHOT: U.S. Stocks: Wall Street Waits For GDP, Sentiment...
02/27/201505:15:09Ericsson Sues Apple for Patent Infringement -- Update
02/27/201503:14:00Ericsson Says It Is Suing Apple for Infringing 41 Patents
02/26/201517:16:29U.S. Stocks End Mostly Lower; Nasdaq Gains
02/26/201515:34:22U.S. Stock Prices Slightly Lower
02/25/201522:03:22Homegrown Technology Startups Take Root in Tehran
02/25/201521:02:46Three Brooklyn Men Accused of Plot to Join ISIS -- Update
02/25/201519:39:09Apple Throws a Wrench Into Nasdaq's Gearbox
02/25/201518:50:23Magna Keeps The Door Open On New Plant
02/25/201510:26:56Apple Ordered To Pay $533 Million In Patent Case -- 2nd Update
02/25/201509:42:00Apple Ordered To Pay $533 Million In Patent Case -- Update
02/25/201509:40:13Apple Ordered To Pay $533 Million In Patent Case
02/25/201505:45:54StarHub 4Q Net Profit Rises 10% on iPhone Demand

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