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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
09/18/201418:44:45TECH STOCKS: Apple, Amazon Lead Broad Tech Gains
09/16/201400:51:26TECH STOCKS: Tech Stocks Fall; Microsoft Among Decliners
09/16/201400:49:59MARKET SNAPSHOT: U.S. Stocks End Lower; Tech And Small-caps Lead...
09/16/201400:38:07MARKET SNAPSHOT: U.S. Stocks Fall As Nasdaq Sinks Nearly 1%
09/16/201400:23:51MARKET SNAPSHOT: U.S. Stocks Open Lower; Yahoo Rises
09/15/201419:54:26MARKET SNAPSHOT: U.S. Stocks: Futures Flat As Investors Wait...
09/15/201409:44:04MARKET SNAPSHOT: U.S. Stocks: Futures Nudge Lower As Investors...
09/12/201416:40:35TECH STOCKS: Apple, EBay Gains Can't Blunt Other Tech Losses
09/11/201421:30:23Brett Icahn Drops Plan to Start Hedge-Fund Firm
09/11/201411:53:21TECH STOCKS: JDSU, Pandora Buck Tech's Weak Performance
09/07/201406:17:43MARKET SNAPSHOT: Stock-picking Gains Traction As Volatility Looms
08/28/201414:13:56TECH STOCKS: Tech Stocks Retreat Amid Market's Ukraine Fears
08/27/201417:46:22TECH STOCKS: Facebook Leads Tech Stocks Lower
08/22/201416:27:06TECH STOCKS: Salesforce, GameStop Lead Tech Stocks
08/18/201416:54:38TECH STOCKS: Apple, Netflix Help Tech Stocks Start Week With...
08/18/201412:03:10TECH STOCKS: Apple, Netflix Among Tech Stocks On The Rise
08/14/201418:40:19Icahn Discloses New Stake in Gannett
08/11/201417:10:47TECH STOCKS: Priceline Among Gainers As Tech Stocks Rally
08/08/201416:35:08TECH STOCKS: Nvidia's Gains Stand Out Among Tech Stocks
08/07/201417:20:32TECH STOCKS: Tech Sector Ends Day In The Red

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