Tech shares falling out of favor

September 29, 2011: 2:10 PM ET

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NEW YORK (CNNMoney) -- Stocks rallied Thursday on better-than-expected U.S. economic readings and Germany's vote of approval for expanding the eurozone's bailout fund.

But the opening strength was short-lived for the technology sector, with the Nasdaq Composite (COMP) flip flopping on either side of breakeven.

Netflix (NFLX) plunged another 9%, bringing its monthly performance to -49%.

Baidu (BIDU) (the biggest Chinese search engine) and Sina (SINA) (the Biggest Chinese social network) lost more than 7% of their market cap this morning on news that the U.S. Department of Justice is assisting a Securities and Exchange Commission. probe of accounting irregularities among U.S. listed Chinese ADRs.

Shares of Advanced Macro Devices (AMD, Fortune 500) dropped more than 12% to a new 52-week low after the global semiconductor giant lowered its third-quarter revenue guidance due to slowing demand.

These are some of the popular themes on StockTwits, Thursday:

JBTrades: Will $NFLX ever find a bottom?? Remember when the CEO used to say anyone who shorted their stock was plain crazy?? Not anymore.

ReformedBroker: Netflix looks like they went subtitles-only with their film inventory $NFLX

lamonicabuzz: Germany may need to approve bailout for $AMD too. Chipmaker guts forecasts, cites production problem at Dresden plant. Down 11% pre-market.

VonTrading: Chinese internet stocks $BIDU $SINA $YOKU $DANG all lower by large amounts on DOJ investigation into chinese accounting fraud

Simpletrade Funds: are loading up on $SINA this morning. To own $SINA now is like own $BIDU in 2008.

bespokeinvest:Weird market so far today. Dow up 200+ but most of the Nasdaq momentum stocks are getting crushed. $$ $PCLN $GMCR $AAPL  To top of page

Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
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