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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
05/20/201517:12:50Quarterly Report (10-q)
05/20/201512:15:10What Is the S&P 500 Index?
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05/19/201517:00:113 Reasons Cisco Systems, Inc Stock Could Fall
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05/15/201516:48:41Form 13f Holdings Report (13f-hr)
05/15/201516:18:14Initial Statement of Beneficial Ownership (3)
05/15/201510:25:023 Reasons Cisco Systems, Inc. Stock Could Rise
05/15/201509:19:02Why 1 Wall Street Firm Dropped the Hammer on Cisco Systems Inc.
05/14/201517:21:34MARKET SNAPSHOT: S&P 500 Closes At Record High, Shaking Off Week's...
05/14/201515:02:33MARKET SNAPSHOT: U.S. Stocks Higher On Week As Dow Flirts With...
05/14/201512:09:08U.S. Stocks Advance
05/14/201510:42:22U.S. Stocks Advance
05/14/201510:29:35MARKET SNAPSHOT: U.S. Stocks Gain, Dow Flirts With Record
05/14/201509:31:08MARKET SNAPSHOT: U.S. Stocks On Track For Higher Open
05/14/201509:22:38U.S. Stock Futures Rise

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