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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
02/05/201618:32:00Media Alert: Intel to Outline Path to 5G at Mobile World Congress...
02/04/201609:00:00EU Clears Western Digital's SanDisk Acquisition
02/03/201617:38:34Statement of Changes in Beneficial Ownership (4)
01/29/201613:00:00Intel Promotes Two Corporate Officers, Elects Six New Corporate...
01/28/201618:00:00IBM CEO Getting $4.5 Million Bonus
01/28/201617:12:23Statement of Changes in Beneficial Ownership (4)
01/28/201605:50:00Samsung Braces for Further Profit Weakness
01/27/201621:50:00EU Plans New Tax Rules for Companies
01/27/201618:55:38Statement of Changes in Beneficial Ownership (4)
01/27/201618:53:49Statement of Changes in Beneficial Ownership (4)
01/27/201618:52:10Statement of Changes in Beneficial Ownership (4)
01/27/201617:26:19Initial Statement of Beneficial Ownership (3)
01/27/201608:00:00Wind River Teams With IBM to Accelerate Edge-to-Cloud IoT Deployments...
01/26/201618:34:35Statement of Changes in Beneficial Ownership (4)
01/26/201618:33:40Statement of Changes in Beneficial Ownership (4)
01/26/201608:00:00Industry's First 5G Algorithm Innovation Competition Will Help...
01/26/201606:01:35Current Report Filing (8-k)
01/25/201617:11:12Statement of Changes in Beneficial Ownership (4)
01/25/201608:00:00Altera PowerSoC DC-DC Step-down Converter Delivers Industry-leading...
01/22/201609:00:00Intel Declares Quarterly Cash Dividend

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