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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 Intel (INTC)
DateTimeHeadline
06/24/201616:46:37Annual Report of Employee Stock Plans (11-k)
06/23/201613:20:00Comcast Agrees to Acquire Startup Icontrol Networks
06/22/201603:07:00Deal Set for 'Clash of Clans' -- WSJ
06/21/201609:40:00Samsung to Invest $1.2 Billion in 'Internet of Things' Startups...
06/21/201606:00:00Intel Security Study Reveals Millennials Are More Likely to Unplug...
06/20/201607:55:00Active Equities to Watch in the Technology Sector - Intel, Advanced...
06/16/201610:40:00ASML Paying $3.09 Billion to Buy Taiwan Chip-Tech Firm Hermes...
06/15/201623:40:00Cavium to Buy Networking Products Company QLogic
06/14/201600:41:00McAfee Labs Report Reveals New Mobile App Collusion Threats
06/07/201608:00:00Technology, Public Safety, and Telecommunication Leaders Unite...
06/02/201616:38:35Statement of Changes in Beneficial Ownership (4)
06/02/201616:13:00Intel CEO Takes Heat for Donald Trump Event, Now Canceled
06/02/201610:30:00Tech Industry Research Suggest Bright Future for Augmented and...
06/01/201615:40:00Microsoft to Make Virtual-Reality Software Available to Others
05/30/201620:50:00Trial Set to Open in Legal Battle Pitting H-P, Oracle
05/26/201614:27:00Intel Buys Computer Vision Specialist Itseez
05/26/201613:10:00Intel Capital Restructuring, Won't Sell Portfolio
05/26/201612:58:00Intel Capital Restructuring, Won't Sell Portfolio
05/26/201600:30:00Regeneron Named as Science Talent Search Sponsor
05/25/201616:05:51Statement of Changes in Beneficial Ownership (4)

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