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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
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
07/21/201416:34:43MARKET SNAPSHOT: U.S. Stocks End Lower Amid Geopolitical Tensions
07/21/201414:05:14MARKET SNAPSHOT: U.S. Stocks Pare Opening Losses
07/21/201411:23:22TECH STOCKS: Netflix, EMC Lead Tech Gainers
07/21/201410:05:04MARKET SNAPSHOT: U.S. Stocks Open Lower; Gaza, Russia Headlines...
07/21/201409:10:39MARKET SNAPSHOT: U.S. Stocks: Futures Fall On Gaza, Russia Headlines
07/21/201408:02:36MARKET SNAPSHOT: U.S. Stocks: Futures Drop On Gaza, Russia Headlines
07/21/201406:06:46MARKET SNAPSHOT: U.S. Stocks: Futures Dip On Gaza, Russia Headlines
07/21/201406:03:12MARKET SNAPSHOT: U.S. Stocks: Futures Dip On Israel, Russia Headlines
07/21/201403:20:37MARKET SNAPSHOT: Small Caps' Slump, Ukraine Fears May Hold Up...
07/18/201418:53:57TECH STOCKS: Google Spurs Tech Gains Following Earnings
07/14/201418:36:37TECH STOCKS: Techs Gain Broadly; Apple Rises On Analyst Upgrade
07/01/201416:30:38MARKET SNAPSHOT: U.S. Stocks: S&P 500, Dow Set Fresh Records
07/01/201411:54:45MARKET SNAPSHOT: U.S. Stocks Keep Climbing After Manufacturing...
07/01/201410:10:23MARKET SNAPSHOT: U.S. Stocks Advance After PMI Data

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