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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
08/18/201416:54:38TECH STOCKS: Apple, Netflix Help Tech Stocks Start Week With...
08/18/201412:03:10TECH STOCKS: Apple, Netflix Among Tech Stocks On The Rise
08/14/201418:40:19Icahn Discloses New Stake in Gannett
08/11/201417:10:47TECH STOCKS: Priceline Among Gainers As Tech Stocks Rally
08/08/201416:35:08TECH STOCKS: Nvidia's Gains Stand Out Among Tech Stocks
08/07/201417:20:32TECH STOCKS: Tech Sector Ends Day In The Red
08/07/201416:50:57MARKET SNAPSHOT: Dow Drops To Close At 3-month Low
08/07/201416:28:55MARKET SNAPSHOT: U.S. Stocks Fall As Investors Seek Treasurys...
08/07/201411:55:38TECH STOCKS: Tech Stocks Try To Cling To Early Gains
08/06/201416:46:17TECH STOCKS: Groupon, Sprint Losses Stand Out Among Tech
08/06/201410:46:39TECH STOCKS: Groupon Slumps After Earnings
08/05/201419:06:16TECH STOCKS: Yahoo 'materially Undervalued,' Says UBS
08/05/201411:29:49TECH STOCKS: Tech Stocks Trying To Shake Off Losses
08/01/201416:35:13TECH STOCKS: LinkedIn, Expedia Rise In Otherwise Weak Tech Session
07/29/201416:39:57TECH STOCKS: Tech Stocks Ease Ahead Of Twitter Earnings
07/29/201411:26:21TECH STOCKS: Tech Stocks Gain Ahead Of Twitter Earnings
07/28/201416:32:27TECH STOCKS: Zillow's $3.5 Billion Trulia Buy Leads Tech Action
07/22/201411:06:33TECH STOCKS: Apple, Microsoft On The Rise With Earnings On Tap
07/22/201409:46:18U.S. Hot Stocks: Hot Stocks to Watch
07/21/201417:10:46Netflix Earnings More Than Double

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