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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
03/29/201711:00:00Intel Appoints Chief Strategy Officer
03/24/201711:27:53Current Report Filing (8-k)
03/23/201718:41:09Initial Statement of Beneficial Ownership (3)
03/23/201718:25:43Initial Statement of Beneficial Ownership (3)
03/23/201718:10:00Correction to Intel New Drives Story on March 19
03/23/201709:18:20Current Report Filing (8-k)
03/23/201709:05:00Intel Declares Quarterly Cash Dividend
03/23/201709:00:00Intel Elects Two New Members to Board of Directors
03/21/201714:55:00Intel Tips Off NCAA® March Madness® with Multiyear Exclusive P...
03/19/201712:23:00Correction to Chip Designers Story
03/19/201706:29:00Intel Looks to Gain From Data Explosion With New Drives
03/16/201708:08:00Watch now: BizWireTV Spotlights a Big Debut at This Year’s S...
03/16/201703:02:00Intel Deal Faces Stiff Test -- WSJ
03/15/201718:44:16Statement of Changes in Beneficial Ownership (4)
03/15/201712:51:00Deal for Mobileye Puts Intel's Spotty Record of Big Acquisitions...
03/15/201703:02:00Big Tech Reshapes Automotive Sector -- WSJ
03/14/201714:49:00Intel Deal for Mobileye Fuels Israel's Drive to Become Automotive...
03/14/201708:35:00Wind River Transforms Future of Industrial IoT with Breakthrough...
03/14/201707:24:00Big Tech Reshaping Auto Supply Chain With Latest Deals
03/14/201707:06:00Today's Top Supply Chain and Logistics News From WSJ

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