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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
09/01/201521:29:00Intel Overhauls Chips in Bid to Revive PC Sales
09/01/201521:00:00Introducing 6th Generation Intel® Core™, Intel’s Best Processor Ever...
09/01/201508:00:00Stratecast | Frost & Sullivan Recognizes the Contribution of...
09/01/201500:01:00McAfee Labs Report Reviews Five Years of Hardware and Software...
08/28/201508:10:00Swedish Card-Reader Startup iZettle Raises More Cash -- Update
08/26/201521:10:00Intel Invests More than $60 Million in Drone Maker
08/26/201520:46:00Intel Invests More than $60 Million in Drone Maker
08/25/201515:01:00Atmel Shares Soar After Strategic Review Acknowledgment
08/25/201507:30:00Intel and BlueData Collaborate to Simplify Big Data Infrastructure;...
08/24/201510:00:00Intel Security Appoints Richard Steranka to Lead Global Partner...
08/24/201500:50:00Intel to Lead $100 Million Investment into Mirantis
08/24/201500:30:00Intel to Lead $100 Million Investment into Mirantis
08/19/201516:07:10Statement of Changes in Beneficial Ownership (4)
08/19/201516:05:27Statement of Changes in Beneficial Ownership (4)
08/19/201507:00:00Leading Equipment Manufacturer Selects JVX7300RF-W for Process...
08/18/201515:50:00$1 Million Prize to be Awarded to the Top Inventor in New “America’s Gre...
08/18/201513:30:00Intel Expands Developer Opportunities as Computing Expands Across...
08/14/201519:05:00Photo of Intel Engineer Jolene Begay Announcing the Company’s I...
08/11/201516:07:58Current Report Filing (8-k)
08/11/201509:15:00Collaborative New Offerings - Report on Intel Corporation

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