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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
04/16/201417:14:51MARKET SNAPSHOT: U.S. Stocks Rally; S&P 500 Positive For The...
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04/16/201413:42:24U.S. Hot Stocks: Hot Stocks to Watch
04/15/201418:10:14Asian Morning Briefing: U.S. Stocks Gain
04/15/201416:50:07Intel's Profit Slides as PC Market Shrinks
04/15/201415:52:11MARKET SNAPSHOT: Stocks Bounce Back As Ukraine Worries Ease
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04/15/201413:57:11MARKET SNAPSHOT: Stock Losses Deepen As Ukraine Tensions Escalate
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04/13/201417:19:33Kenyan Telecom Uses Free Wi-Fi on Minibuses to Get Consumers...
04/13/201408:46:33MARKET SNAPSHOT: Google, Intel, IBM Outlooks To Trump Earnings...
04/11/201419:36:07Riding the Tech Roller Coaster
04/07/201417:30:30Intel Unveils Changes to Financial Reporting Structure

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