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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
01/13/201718:46:32Statement of Changes in Beneficial Ownership (4)
01/12/201709:00:00Tom Brady Stars in Intel Commercial Airing During Super Bowl...
01/11/201714:31:00Computer Chips Evolve to Keep Up With Deep Learning
01/06/201708:08:00CES 2017 Is Offering New Tech for Smarter Living & Autonomous...
01/05/201718:53:20Statement of Changes in Beneficial Ownership (4)
01/04/201721:12:00Intel Jump Starts CES 2017 With News and Experiences
01/04/201718:57:00Intel Announces 5G Modem Chip
01/04/201716:33:23Statement of Changes in Beneficial Ownership (4)
01/04/201709:45:00BMW Group, Intel and Mobileye Will Have Autonomous Test Vehicles...
01/04/201703:02:00Intel Buys Into Auto Technology -- WSJ
01/03/201720:44:00Correction to Qualcomm Article
01/03/201718:51:00Qualcomm Looks Beyond Smartphones With New Chip -- Update
01/03/201717:29:00Qualcomm Looks Beyond Smartphones With New Chip
01/03/201714:30:00Intel Buying 15% Stake in Here, German Auto Makers' Digital-Map...
01/03/201713:00:00Intel to Acquire 15 Percent Ownership of HERE
01/03/201711:10:00Intel Seeks Approval to Invest in German Auto Makers' Digital-Mapping...
01/03/201706:45:00Intel Seeks Approval to Buy Stake in HERE
12/16/201617:27:07Current Report Filing (8-k)
12/16/201617:00:00Intel's 2.95 Percent Junior Subordinated Convertible Debentures...
12/15/201603:02:00Silicon Valley Finds Gentler Tone in the Tower -- WSJ

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