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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
07/27/201607:40:00Comcast Revenue Tops Estimates as Video Subscriber Losses Improve
07/26/201619:10:00Akamai Stumbles as Silicon Valley Giants Wean Themselves Off...
07/26/201605:40:00Vivendi Backs Away From Buying Italy's Mediaset Premium
07/25/201619:55:40Statement of Changes in Beneficial Ownership (4)
07/25/201617:14:20Statement of Changes in Beneficial Ownership (4)
07/25/201609:00:00Netflix And 20th Century Fox Television Distribution Announce...
07/25/201609:00:00Netflix And 20th Century Fox Television Distribution Announce...
07/20/201612:01:00MARKET SNAPSHOT: S&P, Dow On Track For Record Closing Highs As...
07/20/201610:27:00MARKET SNAPSHOT: Dow On Track For 7th Record As Tech Rallies
07/19/201617:34:29Quarterly Report (10-q)
07/19/201603:03:00Netflix Misses Subscriber Goal; Shares Plunge -- WSJ
07/18/201620:45:00Netflix Reports Sharp Slowdown in User Growth -- 4th Update
07/18/201617:29:00Netflix Reports Sharp Slowdown in User Growth--3rd Update
07/18/201617:09:00Netflix Reports Sharp Slowdown in User Growth--2nd Update
07/18/201617:00:00Netflix Reports Sharp Slowdown in User Growth
07/18/201616:59:00Netflix Reports Sharp Slowdown in User Growth--Update
07/18/201616:06:44Current Report Filing (8-k)
07/18/201616:01:00Netflix Releases Second-Quarter 2016 Financial Results
07/18/201612:08:00MARKET SNAPSHOT: Dow On Track For Record Closing High As Tech...
07/18/201609:00:00Netflix To Beam New CBS "Star Trek" Television Series In 188...

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