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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 Cisco Systems (CSCO)
DateTimeHeadline
07/01/201511:00:02Cisco Systems Inc.: Spending $635 Million to Join the Best Internet...
06/30/201519:49:38Cisco to Buy Network Security Company OpenDNS -- Update
06/30/201514:33:24Cisco to Buy Network Security Company OpenDNS -- Update
06/30/201510:50:30Cisco to Buy Network Security Company OpenDNS
06/30/201509:40:07Cisco to Buy Network Security Company OpenDNS
06/30/201509:21:21Cisco to Buy Network Security Company OpenDNS
06/22/201517:42:03Exclusive: Red Hat Inc. CEO On Q1 Results, Internet of Things...
06/22/201512:22:44Why Polycom Inc. Stock Dropped Today
06/22/201509:10:16Red Hat Names Calderoni Financial Chief
06/20/201515:15:03The Internet of Things and Cisco Systems Inc: A Match Made in...
06/19/201518:09:51Statement of Changes in Beneficial Ownership (4)
06/19/201518:09:06Statement of Changes in Beneficial Ownership (4)
06/19/201516:18:07Securities Registration: Employee Benefit Plan (s-8)
06/18/201516:45:24Current Report Filing (8-k)
06/18/201507:04:06Cisco Plans to Invest $60 Million in India, CEO Says
06/17/201508:30:03Cisco Unveils $10 Billion China Plan
06/17/201508:02:59Cisco Unveils $10 Billion China Plan
06/15/201519:41:19Statement of Changes in Beneficial Ownership (4)
06/15/201519:40:51Statement of Changes in Beneficial Ownership (4)
06/15/201519:39:57Statement of Changes in Beneficial Ownership (4)

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