Why Advanced Micro Devices (AMD) Stock Is Up Today

NEW YORK (TheStreet) -- Advanced Micro Devices  (AMD) recovered slightly on Tuesday after NetNames opened a data center based on AMD's server technology.

NetNames, a European leader in online brand protection and digital asset management, based the center on AMD's SeaMicro SM15000™ server. NetNames expects to save more than $1.5 million annually in operating cost savings as a result of the use of AMD's technology.

NetNames also reduction its physical server rack space by 83% and consolidated 500 servers into four SM15000 servers. Finally, the company reduced ongoing operating expense by 75%.

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AMD stock was up 1.72% to $3.85 at 11 a.m.

Separately, TheStreet Ratings team rates ADVANCED MICRO DEVICES as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ADVANCED MICRO DEVICES (AMD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including relatively poor performance when compared with the S&P 500 during the past year and generally higher debt management risk."

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