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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 Netflix (NFLX)
DateTimeHeadline
06/22/201617:26:24Statement of Changes in Beneficial Ownership (4)
06/20/201618:57:42Statement of Changes in Beneficial Ownership (4)
06/17/201615:00:00Netflix to Announce Second-Quarter 2016 Financial Results
06/16/201615:14:00Netflix Finds Fans of Orange is the New Black Are Repeat Offenders
06/16/201612:55:00Activision Blizzard's First In-House TV Series to Air on Netflix
06/15/201603:03:00Court Upholds Net-Neutrality Rules -- WSJ
06/10/201617:18:19Current Report Filing (8-k)
06/09/201601:50:00Vodafone's New Zealand Unit to Merge With Sky Network Television
06/08/201609:05:00Netflix And Binge: New Binge Scale Reveals TV Series We Devour...
06/08/201609:05:00Netflix And Binge: New Binge Scale Reveals TV Series We Devour...
06/06/201600:30:00Netflix Announces First Original Series From India In Partnership...
06/03/201617:46:14Statement of Changes in Beneficial Ownership (4)
06/03/201617:45:45Statement of Changes in Beneficial Ownership (4)
06/03/201617:45:17Statement of Changes in Beneficial Ownership (4)
06/03/201617:44:49Statement of Changes in Beneficial Ownership (4)
06/03/201617:44:21Statement of Changes in Beneficial Ownership (4)
06/03/201617:43:50Statement of Changes in Beneficial Ownership (4)
06/03/201617:42:24Statement of Changes in Beneficial Ownership (4)
06/03/201617:41:55Statement of Changes in Beneficial Ownership (4)
06/03/201617:41:27Statement of Changes in Beneficial Ownership (4)

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