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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
09/21/201618:39:17Statement of Changes in Beneficial Ownership (4)
09/21/201618:37:46Statement of Changes in Beneficial Ownership (4)
09/21/201609:15:00You're Still Hooked and Netflix Knows Why
09/21/201609:15:00You're Still Hooked and Netflix Knows Why
09/21/201609:15:00You're Still Hooked and Netflix Knows Why
09/17/201603:02:00Netflix Faces Lawsuit -- WSJ
09/16/201618:26:0021st Century Fox Sues Netflix for Poaching Employees-- 2nd Update
09/16/201616:47:0021st Century Fox Sues Netflix for Poaching Employees--Update
09/16/201616:00:0021st Century Fox Sues Netflix for Poaching Employees
09/16/201615:50:0021st Century Fox Sues Netflix for Poaching Employees
09/14/201617:00:00Netflix to Announce Third-Quarter 2016 Financial Results
09/14/201610:59:00Netflix To Be On Liberty Global Set-Top Boxes -- 2nd Update
09/14/201610:50:00Netflix To Be On Liberty Global Set-Top Boxes -- Update
09/14/201610:37:00Netflix To Be On Liberty Global Set-Top Boxes
09/08/201619:00:00FCC's Tom Wheeler Unveils His Plan to Open Up Market for Set-Top...
09/08/201617:17:28Statement of Changes in Beneficial Ownership (4)
09/08/201616:01:00Netflix Chief Financial Officer to Present at the Goldman Sachs...
09/07/201617:38:45Statement of Changes in Beneficial Ownership (4)
09/07/201614:30:00EQUITY ALERT: Finkelstein & Krinsk LLP Announces Investigation...
09/06/201618:48:16Statement of Changes in Beneficial Ownership (4)

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