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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
04/17/201417:12:18TECH STOCKS: SanDisk, Weibo Gains Pace Tech Stocks
04/17/201411:10:53TECH STOCKS: IBM Losses Can't Hold Back Tech Gains
04/15/201413:58:33NBCUniversal Plans Big Digital Video Push
04/11/201419:36:07Riding the Tech Roller Coaster
04/11/201416:40:18TECH STOCKS: Nasdaq Slips Below 4,000; Yahoo, Twitter Fall
04/11/201416:32:17MARKET SNAPSHOT: U.S. Stocks Extend Fall; S&P On Pace For 2...
04/11/201411:36:49TECH STOCKS: Yahoo, Twitter Weigh On Techs; Zynga Rises
04/11/201411:27:09MARKET SNAPSHOT: U.S. Stocks Extend Fall; S&P Set For 2% Weekly...
04/11/201408:19:49Canada Government Disables More Online Services On Heartbleed...
04/10/201406:20:08A Race To Plug Internet Hole
04/09/201416:58:11TECH STOCKS: Facebook Rises As Internet Stocks Lead Tech Gains
04/08/201416:56:29TECH STOCKS: Pandora, EBay, Netflix Pace Tech Gains
04/08/201413:51:42TECH STOCKS: Tech Stocks Find Ways Toward Some Gains
04/08/201410:20:16Amazon: Prime Video Streams Nearly Tripled Year-Over-Year
04/07/201417:00:22TECH STOCKS: Netflix, Facebook Among The Few Tech Gainers
04/07/201414:18:10MARKET SNAPSHOT: U.S. Stocks Extend Losses Ahead Of Quarterly...
04/07/201413:16:22TECH STOCKS: Netflix, Microsoft Rare Gainers In Weak Tech Action
04/07/201411:01:38TECH STOCKS: Netflix, Facebook Rise In Erratic Tech Trade
04/07/201411:01:37TECH STOCKS: Netflix, Facebook Rise In Erratic Trade
04/02/201413:02:24EU to Vote on Web Traffic Regulation

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