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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
10/28/201420:30:40Office-Burnout Cure: Mini Sabbaticals
10/26/201417:03:17Germany Bets on 'Smart Factories' to Keep Its Manufacturing Edge
10/15/201411:04:00TECH STOCKS: Intel, Netflix In The Red As Tech Stocks Retreat
10/15/201409:51:04U.S. Hot Stocks: Hot Stocks to Watch
10/15/201407:52:36MARKET SNAPSHOT: U.S. Stocks: Futures Drift Lower As Bank Of...
10/15/201406:15:17MARKET SNAPSHOT: U.S. Stocks: Futures Flat Ahead Of Bank Of America...
10/14/201418:01:48TECH STOCKS: Tech Stocks Rise; Intel Tops Estimates
10/14/201417:42:02TECH STOCKS: Tech Stocks Up With Intel's Earnings On Tap
10/12/201405:53:30MARKET SNAPSHOT: Earnings Under Pressure From Stronger U.S. Dollar
10/01/201418:40:52Chip Designer ARM Holdings Unveils Operating System
09/26/201405:25:08Intel Invests in Chinese Chip Maker -- Update
09/22/201416:01:29Costa Rica to Accelerate VAT Reform After Downgrade--Update
09/09/201402:05:58Intel Unveils Latest Xeon Server Chip -- Update
09/09/201402:00:31Intel Unveils Latest Xeon Server Chip
09/03/201409:40:05EU Fines for Smart Card Price Fixing
09/03/201408:59:21EU Fines Smart Card Chip Producers Over Cartel -- Update
08/12/201416:47:33TECH STOCKS: Twitter Among Few Gainers In Weak Tech Session
08/11/201415:11:27Intel Details New 14-Nanometer Chip -- 2nd Update
08/11/201413:48:12Intel Details New 14-Nanometer Chip -- Update
08/11/201413:20:07Intel Details New Chip Aimed at Tablets

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