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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
01/23/201714:21:08Amended Statement of Ownership (sc 13g/a)
01/17/201712:58:00Cisco's Chambers Sees Trump Presidency Good for U.S. Business
01/16/201723:30:00Ericsson and Cisco to Overhaul Network of Vodafone Hutchison...
01/16/201704:29:00Ericsson-Cisco Partnership Gets Vodafone Hutchison Australia...
01/09/201700:00:00Genpact and Cisco Launch Global Center of Excellence in Jaipur...
12/28/201603:02:00Ahead of the Tape: Trump Gives 'Dogs of the Dow' Pause -- WSJ
12/27/201616:28:00Donald Trump Dogs Dow Strategy -- Ahead of the Tape
12/23/201616:56:02Statement of Changes in Beneficial Ownership (4)
12/22/201616:33:42Current Report Filing (8-k)
12/21/201618:00:00Red Hat CFO to Depart, Profit Rises 45%
12/15/201603:02:00Silicon Valley Finds Gentler Tone in the Tower -- WSJ
12/15/201603:02:00GE's Software Future Starts With Hardware -- WSJ
12/14/201622:08:00Top Tech Executives to Meet Trump to Talk Jobs, Regulations...
12/14/201618:05:00Jury Rules for Arista in Cisco Copyright Case--Update
12/14/201617:09:19Statement of Changes in Beneficial Ownership (4)
12/14/201617:07:19Statement of Changes in Beneficial Ownership (4)
12/14/201617:04:15Statement of Changes in Beneficial Ownership (4)
12/14/201617:02:54Statement of Changes in Beneficial Ownership (4)
12/14/201617:00:44Statement of Changes in Beneficial Ownership (4)
12/14/201616:59:17Statement of Changes in Beneficial Ownership (4)

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