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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
08/25/201610:30:00China Moves to Ease Foreign Concerns on Cybersecurity Controls
08/25/201607:06:00Today's Top Supply Chain and Logistics News From WSJ
08/24/201603:04:00Chip Rivals Make New Challenge on Intel -- WSJ
08/23/201616:31:00IBM, AMD and Others Plan Assault on Intel's Chip Dominance
08/22/201603:03:00HP Prepares Long-Term Wagers -- WSJ
08/18/201608:40:00Samsung Shares Hit Record High
08/17/201617:10:00Cisco Plans to Cut 5,500 Workers
08/17/201616:10:00Intel Unveils Plans for Artificial-Intelligence Chips
08/17/201616:06:00Intel Unveils Plans for Artificial-Intelligence Chips
08/16/201619:20:00Facebook's Point System Fails to Close Diversity Gap
08/16/201614:40:00Intel Shows Off 'Project Alloy' Virtual-Reality Headset
08/16/201614:34:00Intel Shows Off 'Project Alloy' Virtual-Reality Headset
08/11/201618:30:00Nvidia Tops Sales Guidance, Gives Strong Outlook
08/10/201617:55:00Diversity at Intel Is a Work in Progress
08/10/201603:03:00Intel Deal Shows Pull Of Artificial Intelligence -- WSJ
08/09/201616:40:00Intel, Apple Add to Artificial-Intelligence Deal Wave
08/09/201616:29:00Intel, Apple Add to Artificial-Intelligence Deal Wave
08/03/201620:37:00Intel Recalls Basis Peak Smartwatches Due to Overheating
08/01/201616:40:05Quarterly Report (10-q)
07/27/201618:59:38Statement of Changes in Beneficial Ownership (4)

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