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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
12/02/201612:00:00FCC Raises Fresh Concerns Over 'Zero-Rating' by AT&T, Verizon
11/28/201616:10:00TiVo and Netflix Enter Into Product and Intellectual Property...
11/28/201616:01:00Netflix Chief Content Officer to Present at the UBS 44th Annual...
11/21/201609:50:00Oracle to Buy Web Service Provider Dyn
11/17/201616:10:00Amazon Readying Launch of Global Streaming Video Service
11/14/201617:53:41Statement of Changes in Beneficial Ownership (4)
11/10/201617:09:40Statement of Changes in Beneficial Ownership (4)
11/09/201608:40:00Trump Victory Throws Doubt on AT&T-Time Warner Deal, Net Neutrality
11/08/201602:00:00FBI Warns Internet Online Attacks on Private Industry Will Continue
11/03/201617:11:38Statement of Changes in Beneficial Ownership (4)
11/03/201617:11:07Statement of Changes in Beneficial Ownership (4)
11/03/201617:11:07Statement of Changes in Beneficial Ownership (4)
11/03/201617:10:13Statement of Changes in Beneficial Ownership (4)
11/03/201617:10:12Statement of Changes in Beneficial Ownership (4)
11/03/201617:09:48Statement of Changes in Beneficial Ownership (4)
11/03/201617:09:20Statement of Changes in Beneficial Ownership (4)
11/03/201617:09:20Statement of Changes in Beneficial Ownership (4)
11/03/201617:09:00Statement of Changes in Beneficial Ownership (4)
11/03/201617:09:00Statement of Changes in Beneficial Ownership (4)
11/03/201617:09:00Statement of Changes in Beneficial Ownership (4)

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