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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
04/17/201520:00:03Can Netflix, Inc. Stock Really Rise to $900?
04/17/201516:59:55Quarterly Report (10-q)
04/17/201509:03:02How Can YouTube Persuade Users to Pay Up?
04/17/201508:06:02AMC Entertainment & Disney Just Gave Dolby Vision Much-Needed...
04/17/201505:58:08Netflix's Hold Rating Reaffirmed at Argus (NFLX)
04/16/201518:40:21Netflix Gets Star Treatment From Broadband Providers Abroad
04/16/201517:07:36U.S. Stocks Edge Lower
04/16/201517:01:35MARKET SNAPSHOT: U.S. Stocks Finish Lower Amid Mixed Economic...
04/16/201516:20:02The Cloud Battle Heats Up Between Amazon.com Inc, Google Inc...
04/16/201515:17:32U.S. Stocks Trade Higher
04/16/201514:35:51MARKET SNAPSHOT: U.S. Stocks Edge Higher Amid Mixed Economic...
04/16/201514:35:07MARKET SNAPSHOT: U.S. Stocks Edge Higher As Economic Data, Earnings...
04/16/201513:34:30Netflix Price Target Increased to $585.00 by Analysts at Raymond...
04/16/201513:34:26Netflix PT Raised to $665.00 (NFLX)
04/16/201513:03:40Netflix Price Target Raised to $475.00 (NFLX)
04/16/201513:03:38Oppenheimer Raises Netflix Price Target to $610.00 (NFLX)
04/16/201512:32:22U.S. Stocks Slip Amid Declines in European Markets
04/16/201512:18:49MARKET SNAPSHOT: U.S. Stocks Wrestle With Mixed Economic Data...
04/16/201512:10:15Netflix Inc. Q1 Report Pushes Stock Up Today
04/16/201512:01:09Netflix, Inc. Q1 Report Pushes Stock Up Today

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