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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)
11/23/201518:28:03CBS Prepares to Enter the Final Frontier With Its Streaming Service
11/23/201517:13:27Statement of Changes in Beneficial Ownership (4)
11/22/201514:24:02Netflix CEO Reed Hastings Just Told Cable How to Beat Netflix
11/22/201508:09:022016 Will Also Be the Year of FANG
11/20/201513:44:03Cord-Cutters Rejoice: Walt Disney Co. Is Entering the Subscription...
11/19/201518:55:31Statement of Changes in Beneficial Ownership (4)
11/19/201518:55:31Statement of Changes in Beneficial Ownership (4)
11/19/201518:53:03Time Warner's Daring Plan to Stop Cord Cutters
11/19/201516:01:00Netflix Chief Content Officer to Present at the UBS 43rd Annual...
11/17/201515:25:09It's Way Too Late to Put the Netflix Genie Back in the Bottle
11/17/201510:02:023 Reasons Why Netflix Soared 7% Yesterday
11/17/201510:02:023 Reasons Why Netflix Soared 7% Yesterday
11/17/201510:02:023 Reasons Why Netflix Soared 7% Yesterday
11/17/201510:02:023 Reasons Why Netflix Soared 7% Yesterday
11/16/201519:00:53Do Netflix, Inc. and Time Warner's HBO Care If You Share Passwords?
11/16/201508:09:03Netflix and Amazon Should Be Excited About Nov. 20
11/15/201515:18:04Millennials Are Investing More in Stocks Than You May Think
11/15/201512:00:09How Many Netflix Subscribers Are There?
11/15/201510:00:02Here's How HBO Expects to Knock Off Netflix
11/14/201514:00:02Here's How Pay-TV Providers Are Changing the Way You Watch Television

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