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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
08/25/201613:30:00Vivendi Posts Decline in Core Earnings
08/25/201608:14:00ITV Scraps Offer to Acquire Entertainment One
08/24/201617:30:00Viacom May Tighten Reins on Paramount
08/23/201618:02:04Statement of Changes in Beneficial Ownership (4)
08/22/201611:00:00Netflix Teams with Northwood Entertainment on New TV Series ANNE...
08/22/201611:00:00Netflix Teams with Northwood Entertainment on New TV Series ANNE...
08/19/201612:06:07Statement of Changes in Beneficial Ownership (4)
08/19/201607:46:00ネットフリックスがエンセオとの契約を拡大し、ホスピタリティ業界でのサービスを拡充
08/17/201612:05:00Netflix Aumenta su Oferta en Hospitalidad a través de la Ampliación d...
08/17/201612:02:00Netflix vergrößert Gastgewerbeangebot durch erweiterten Enseo-Vertrag
08/17/201611:56:00Netflix étend son offre pour l’hôtellerie grâce à un accord élarg...
08/17/201607:10:00Netflix Expands Hospitality Offering Through Expanded Enseo Agreement
08/10/201618:25:49Statement of Changes in Beneficial Ownership (4)
08/10/201606:10:00ITV Bid Rejected by Peppa Pig-Owner Entertainment One
08/03/201617:45:53Statement of Changes in Beneficial Ownership (4)
07/27/201607:40:00Comcast Revenue Tops Estimates as Video Subscriber Losses Improve
07/26/201619:10:00Akamai Stumbles as Silicon Valley Giants Wean Themselves Off...
07/26/201605:40:00Vivendi Backs Away From Buying Italy's Mediaset Premium
07/25/201619:55:40Statement of Changes in Beneficial Ownership (4)
07/25/201617:14:20Statement of Changes in Beneficial Ownership (4)

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