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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
08/27/201515:03:00Netflix Signs Lease at Hudson Pacific Properties’ ICON Office T...
08/26/201519:35:00Netflix Viewership Finally Gets a Yardstick
08/26/201517:39:13Statement of Changes in Beneficial Ownership (4)
08/26/201517:36:22Statement of Changes in Beneficial Ownership (4)
08/24/201520:29:00Merger Monday Rolls Ahead; Whiplash For Netflix Holders
08/24/201504:30:00Netflix, SoftBank Partner in Japan
08/17/201517:37:59Statement of Changes in Beneficial Ownership (4)
08/13/201511:50:09HBO Strikes Deal for 'Sesame Street'
08/13/201511:29:51HBO Strikes Deal for 'Sesame Street'
08/07/201517:01:45Statement of Changes in Beneficial Ownership (4)
08/07/201517:01:45Statement of Changes in Beneficial Ownership (4)
08/06/201513:00:00Netflix Original Documentary Winter on Fire: Ukraine's Fight...
08/06/201513:00:00Netflix Original Documentary Winter on Fire: Ukraine's Fight...
08/05/201518:57:04Statement of Changes in Beneficial Ownership (4)
08/05/201514:28:25Netflix's Unlimited Parental Leave Is a Surprising Gift for Workers...
08/05/201508:10:11Time Warner Earnings Tops Views
08/03/201518:24:55Statement of Changes in Beneficial Ownership (4)
07/29/201509:05:00Coverage of CATV Systems Equities -- Netflix, Liberty Global...
07/24/201518:17:24Statement of Changes in Beneficial Ownership (4)
07/23/201520:12:00Angelina Jolie Pitt To Direct First They Killed My Father, An...

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