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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
09/21/201609:00:00Printed Circuit Boards and Electronics Manufacturing Services...
09/20/201603:05:00Telit Communications Collaborates With Intel Machine Control
09/20/201603:03:00Intel Appoints Finance Executive -- WSJ
09/19/201622:00:00Intel Hires Bob Swan as Finance Chief
09/19/201620:20:00Correction to Intel's new CFO article
09/19/201619:57:00Intel Hires Bob Swan as Finance Chief
09/19/201617:20:00Former eBay CFO Bob Swan Named New Intel Finance Chief
09/19/201616:07:25Current Report Filing (8-k)
09/19/201616:01:00Intel Appoints Bob Swan Executive Vice President and Chief Financial...
09/19/201610:10:00John McAfee's MGT Capital Subject to SEC Subpoena
09/19/201609:52:00John McAfee's MGT Capital Subject to SEC Subpoena
09/17/201603:02:00Intel Raises Its Outlook -- WSJ
09/16/201615:39:00Intel Raises Third-Quarter Guidance on PC Improvement--2nd Update
09/16/201612:15:00Intel Raises Third-Quarter Guidance on PC Improvement--Update
09/16/201610:20:00Intel Raises Quarterly Guidance
09/16/201610:08:00Intel Raises Third-Quarter Guidance on PC Improvement
09/16/201609:12:06Current Report Filing (8-k)
09/16/201609:00:00Intel Raises Third-Quarter Revenue Expectations
09/15/201620:40:00Globalfoundries Plans Big Investment in New York State Chip Plant
09/15/201618:30:00Globalfoundries Plans Big Investment in New York State Chip Plant

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