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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
03/26/201504:55:30Pfizer Is An Outright Buy - Cramer's Lightning Round (3/25/15)
03/25/201519:55:48'X-Files' Return Coming At Right Time For Fox And Its Investors
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03/25/201513:25:02Forget Hollywood: How to Invest in the Box Office Itself
03/25/201512:37:27Streaming TV: What's the Big Deal About Netflix's Special Networks?
03/25/201512:00:02Streaming TV: What's the Big Deal About Netflix's Special Networks?
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03/24/201521:25:04The Downbeat Report That Boosted Netflix Shares
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03/23/201518:50:01Read This Before You Quit on Cable
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03/23/201511:10:00Netflix To Premiere Chris Tucker's First-Ever Stand-Up Comedy...
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03/22/201508:45:02You'll Never Believe How Many People Are Stealing Netflix and...
03/22/201507:59:02The Average American Spends This Much on Cable TV: How Do You...
03/21/201516:09:02Why Americans Are Giving Up on Cable TV but Not Cutting the Cord
03/21/201508:32:02Why Netflix Yada Yada Yada'd Seinfeld
03/20/201517:04:02Will Apple Inc.'s Streaming TV Efforts Move Ahead Without Comcast...

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