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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
07/29/201410:00:07Apple Cuts Price on MacBook Pro by $100
07/29/201401:40:24Huawei Smartphone Shipments Rise
07/28/201416:32:27TECH STOCKS: Zillow's $3.5 Billion Trulia Buy Leads Tech Action
07/28/201412:15:03TECH STOCKS: Zillow Falls On $3.5 Billion Trulia Acquisition
07/28/201411:46:50TECH STOCKS: Zillow Rises On Trulia Acquisition
07/24/201409:21:25MARKET SNAPSHOT: U.S. Stocks: Futures Up; Jobless Claims Tumble
07/24/201407:17:12MARKET SNAPSHOT: U.S. Stocks: Futures Up As Ford, Facebook Rise...
07/24/201406:16:16MARKET SNAPSHOT: U.S. Stocks: Futures Up With Eyes On Ford, Facebook
07/23/201419:42:43Have Big-Screen Smartphones Crashed the Tablet Party?
07/23/201416:38:22MARKET SNAPSHOT: S&P 500 Closes At Record On Strong Earnings
07/23/201412:07:40MARKET SNAPSHOT: U.S. Stocks Rise; S&P 500 Sets Intraday Record
07/23/201411:29:13TECH STOCKS: Apple, Microsoft Fuel Broad Tech Gains
07/23/201410:20:13MARKET SNAPSHOT: U.S. Stocks Inch Higher; Boeing Weighs On Dow
07/23/201409:50:41MARKET SNAPSHOT: U.S. Stocks Open Higher; S&P 500 At Record
07/23/201409:42:33MARKET SNAPSHOT: U.S. Stocks: Futures Higher After Strong Earnings
07/23/201407:03:16MARKET SNAPSHOT: U.S. Stocks: Futures Higher; Boeing Ahead
07/23/201406:01:52MARKET SNAPSHOT: U.S. Stocks: Futures Track Global Gains; Boeing...
07/22/201421:37:10Amazon Fire Phone Review: Full of Gimmicks, Lacking Basics
07/22/201416:21:01MARKET SNAPSHOT: U.S. Stocks End Higher; Herbalife Gain Best...
07/22/201416:15:51MARKET SNAPSHOT: U.S. Stocks Close Up; Herbalife Gain Best Ever

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