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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
05/22/201517:47:28Statement of Changes in Beneficial Ownership (4)
05/22/201507:17:035 Things The Walt Disney Co's Management Wants You To Know
05/21/201517:45:57Statement of Changes in Beneficial Ownership (4)
05/20/201516:00:024 Things Comcast Corp. CEO Brian Roberts Wants You to Know
05/20/201515:20:02Resurgent Hulu Threatens Netflix, Inc.
05/20/201515:00:15Why I'm Glad Apple Inc. Killed Its Smart TV Plans
05/20/201515:00:03The 3 Best Stocks for Investing in Hollywood
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201519:22:02Read This Before You Sell Netflix, Inc. Stock
05/19/201518:40:11Statement of Changes in Beneficial Ownership (4)
05/19/201518:40:11Statement of Changes in Beneficial Ownership (4)
05/19/201518:39:44Statement of Changes in Beneficial Ownership (4)
05/19/201518:05:02What Is Kevin Spacey's Net Worth?
05/19/201516:17:29Notice of Exempt Solicitation. Definitive Material. (px14a6g)
05/19/201510:07:02FinTech on the Rise: How Millennials Could Set New Precedents...
05/19/201508:06:02The Next Growth Frontier for Netflix Inc: China?
05/18/201519:06:02Twenty-First Century Fox Inc: 5 Things Management Wants You to...
05/18/201518:00:135 Things Netflix Inc's Content Boss Ted Sarandos Wants You to...
05/18/201516:00:02Is Netflix Inc. Really Worth $100 Billion?
05/17/201512:45:10Here's the Latest Evidence That Cord-Cutting Is Accelerating

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