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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
07/29/201616:39:03Securities Registration: Employee Benefit Plan (s-8)
07/29/201616:17:32Current Report Filing (8-k)
07/26/201617:50:00Juniper Networks Reports Lower Profit
07/25/201608:58:00Organizations Look To Video To Tackle 'Digital Dislocation' In...
07/25/201607:40:00Ericsson Chief Departs After Profit Plunge
07/22/201617:02:50Statement of Changes in Beneficial Ownership (4)
07/14/201612:40:00Microsoft Wins Appeals Ruling on Data Searches
07/01/201616:40:00Hyperloop One Replaces Co-Founder Brogan BamBrogan with Josh...
06/30/201608:00:00IBM and Cisco Tap the Power of IBM Watson and Cisco Spark to...
06/28/201614:42:00Cisco to Buy Cloud-Security Provider CloudLock -- Update
06/28/201611:10:00Cisco to Buy Cloud-Security Provider CloudLock
06/28/201611:03:00Cisco to Buy Cloud-Security Provider CloudLock $293 Million
06/27/201616:30:30Current Report Filing (8-k)
06/27/201612:21:00Industry Weapon Announces Partnership With Cisco
06/24/201617:06:01Statement of Changes in Beneficial Ownership (4)
06/24/201611:52:00ITC Issues Split Determination in Arista/Cisco Patent Dispute...
06/23/201620:50:00ITC Issues Split Determination in Arista/Cisco Patent Dispute
06/23/201616:33:30Current Report Filing (8-k)
06/22/201618:22:38Statement of Changes in Beneficial Ownership (4)
06/22/201618:20:52Amended Statement of Beneficial Ownership (3/a)

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