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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
12/08/201617:30:00Broadcom Gives a Rosy Outlook, Doubles Quarterly Dividend
12/08/201609:20:00Streaming Again Boosts Warner Music
12/08/201604:00:00Microsoft and Qualcomm Team Up on Tablets
12/07/201611:40:00Pebble to Shut Down as Fitbit Acquires Team
12/07/201604:00:00Apple Supplier Foxconn Plans Expansion in U.S.
12/07/201603:03:00Samsung Award to Apple Set For Review -- WSJ
12/07/201601:50:00Donald Trump Sold All His Stockholdings in June
12/06/201621:26:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201617:27:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201613:50:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201613:40:00Chinese Group Reports More Apple iPhone Battery Problems
12/06/201613:30:00Chinese Group Reports More Apple iPhone Battery Problems
12/06/201611:46:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201611:20:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201611:11:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201610:59:00Supreme Court: Lower Court Should Reconsider What Samsung Owes...
12/06/201607:02:00Imagination Revenue Up On Currency, Connectivity, Shares Jump
12/05/201618:46:00Correction to Trump Warns of Penalties to U.S. Firms Story on...
12/04/201619:40:00Apple Signals Interest in Self-Driving Software
12/04/201615:34:00Apple Signals Interest in Self-Driving Software

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