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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
12/01/201412:00:04TECH STOCKS: Tech Stocks Take A Cyber Monday Beating
11/25/201417:03:12MARKET SNAPSHOT: S&P 500, Dow Skid To A Halt, Over Oil, Falling...
11/25/201415:56:07MARKET SNAPSHOT: U.S. Stocks Struggle To Rally In Choppy Trade
11/25/201415:46:06MARKET SNAPSHOT: U.S. Stocks Under Pressure After November Consumer...
11/18/201411:57:58TECH STOCKS: GoPro Gains Stand Out In Tech's Advance
11/12/201417:09:28TECH STOCKS: Weak Tech Action Ahead Of Cisco's Earnings
11/11/201412:24:31TECH STOCKS: Juniper Networks Tops Tech Decliners On CEO Switch
11/11/201411:56:57TECH STOCKS: Tech Stocks Inch Higher In Mild Session
11/07/201416:27:21TECH STOCKS: Zynga Gains In Mildly Upbeat Tech Session
11/07/201411:28:53TECH STOCKS: Zynga Zooms Higher As Tech Mostly Struggles
11/03/201420:27:08Google Renews Its Cloud Efforts
11/03/201419:05:22Google Nexus Player Review
10/23/201411:10:27TECH STOCKS: Tech Stocks Rise Ahead Of Microsoft, Amazon Earnings
10/16/201417:06:24MARKET SNAPSHOT: U.S. Stocks End Marginally Higher; Small Caps...
10/16/201414:43:08MARKET SNAPSHOT: U.S. Stocks Rebound; Small Caps Rally
10/16/201411:58:40MARKET SNAPSHOT: U.S. Stocks Trim Losses In Choppy Trade
10/16/201410:18:34TECH STOCKS: Netflix Losses Stand Out As Techs Swoon
10/16/201409:44:37U.S. Hot Stocks: Hot Stocks to Watch
10/16/201409:16:38MARKET SNAPSHOT: U.S. Stocks: Futures Slide; Jobless Claims Drop
10/16/201408:09:07MARKET SNAPSHOT: U.S. Stocks: Futures Slide Around 1%

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