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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
08/26/201618:45:16Statement of Changes in Beneficial Ownership (4)
08/26/201618:43:18Statement of Changes in Beneficial Ownership (4)
08/26/201618:41:58Statement of Changes in Beneficial Ownership (4)
08/25/201610:30:00China Moves to Ease Foreign Concerns on Cybersecurity Controls
08/24/201618:19:39Statement of Changes in Beneficial Ownership (4)
08/24/201618:18:23Statement of Changes in Beneficial Ownership (4)
08/17/201619:20:00Cisco Plans to Cut 5,500 Workers -- 2nd Update
08/17/201617:10:00Cisco Plans to Cut 5,500 Workers
08/17/201617:06:00Cisco Plans to Cut 5,500 Workers--Update
08/17/201616:54:00Cisco Announces Plans to Cut 5,500 Workers
08/17/201616:31:00Security Experts Say NSA-Linked Hacking Effort Was Itself Compromised
08/17/201616:13:04Current Report Filing (8-k)
08/15/201622:57:00Group Claims to Have U.S. Government Hacking Tools for Sale
08/15/201621:27:00Group Claim to Have U.S. Government Hacking Tools for Sale
08/15/201604:42:00MARKET SNAPSHOT: This Is The Chance Of A Stock-market Hangover
08/13/201614:41:00MARKET SNAPSHOT: This Is The Chance Of A Stock-market Hangover
08/13/201611:00:00MARKET SNAPSHOT: This Is The Chance Of A Stock-market Hangover
08/13/201610:45:00MARKET SNAPSHOT: Will Stock-market Hangover Follow Record Highs?
08/13/201608:15:00MARKET SNAPSHOT: Will Stock-market Hangover Follow Record Highs?
08/10/201616:40:07Form 13f Holdings Report (13f-hr)

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