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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
12/01/201609:20:00Siemens' Shuffles Management in Bid to Expand its Software Capabilities
12/01/201609:13:00Siemens' Shuffles Management in Bid to Expand its Software Capabilities
11/28/201618:21:22Statement of Changes in Beneficial Ownership (4)
11/23/201620:20:00Avaya Weighing Bankruptcy Filing, Sale of Call-Center Software...
11/22/201618:41:36Statement of Changes in Beneficial Ownership (4)
11/22/201618:40:06Statement of Changes in Beneficial Ownership (4)
11/22/201617:08:58Quarterly Report (10-q)
11/22/201606:04:09Notice of Exempt Solicitation. Definitive Material. (px14a6g)
11/17/201609:45:00U.S. Hot Stocks: Hot Stocks to Watch
11/17/201603:03:00Cisco Warns on Outlook As Challenges Mount Cisco Systems Inc...
11/16/201619:13:00Cisco Shows Signs of Pressure
11/16/201617:00:00Cisco Shows Signs of Pressure
11/16/201616:47:00Cisco Shows Signs of Pressure
11/16/201616:10:32Current Report Filing (8-k)
11/15/201617:22:56Statement of Changes in Beneficial Ownership (4)
11/15/201611:50:00General Electric to Buy Two Tech Startups
11/09/201618:03:00Silicon Valley Braces for Uncertainty After Donald Trump's Victory--Update
11/09/201617:04:15Statement of Changes in Beneficial Ownership (4)
11/09/201614:10:00Silicon Valley Braces for Uncertainty After Trump's Victory
11/09/201613:59:00Silicon Valley Braces for Uncertainty After Donald Trump's Victory

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