|Bid||225.15 x 1100|
|Ask||226.38 x 1000|
|Day's Range||225.80 - 229.07|
|52 Week Range||158.98 - 229.57|
|PE Ratio (TTM)||10.85|
|Beta (3Y Monthly)||1.14|
|Expense Ratio (net)||0.47%|
Stocks slice through support levels on their fourth straight day of declines. Where do traders buy the dip? Yahoo Finance's Jared Blikre and Myles Udland break down the technicals, including Anchored VWAP, in the SPDR S&P 500 ETF (SPY). Also explored are the Philadelphia Semiconductor Index and the iShares Expanded Tech-Software ETF (IGV).
Shares of MicroStrategy Inc. tumbled 9.1%, on track for the biggest one-day selloff in nearly four years, after the business analytics software company disclosed that two of its 7-member executive team had resigned, and that it will search for a new chief financial officer. The stock was by far the biggest decliner in the iShares Expanded Tech-Software Sector ETF , which fell 0.8% with 81 of 95 components losing ground. MicroStrategy said in a filing with the Securities and Exchange Commission that Kevin Norlin, senior executive vice president of worldwide sales, and Stephen Holdridge, senior executive vice president of worldwide services, tendered resignations. Current CFO Phone Le will assume their duties, effective immediately, and the company will search for a new CFO to allow Le to spend more time on his new responsibilities. The company said in its annual report filed in February that it had "material weaknesses" in its internal controls over financial reporting. The stock, on track for the biggest one-day drop since it fell 14.3% on Oct. 27, 2015, has now slipped 0.4% year to date, while the software ETF has soared 29% and the S&P 500 has gained 19%.
Chip-related stocks lead the broader tech sector higher following a truce in the trade war with China, which threatens to drag heavily on suppliers of semiconductors.
Salesforce.com agreed to buy big data firm Tableau Software for $15.3 billion in an all-stock deal. This has put the spotlight on ETFs having large exposure to Salesforce.
The iShares North American Tech-Software ETF (IGV) soared 1.5% higher on Wednesday after one of its largest holdings, cloud software company Salesforce, reported better-than-expected earnings for its first quarter of the 2020 fiscal year. "I am thrilled with our results this quarter, and I am especially excited to have delivered record revenue in Q1 and operating cash flow of almost $2 billion, up 34% year-over-year," said Marc Benioff, chairman and co-CEO, Salesforce. "Our strong revenue growth in the quarter reflects the strength of our business and the tremendous demand we're seeing from customers worldwide," said Keith Block, co-CEO, Salesforce.
Salesforce.com Inc. stock advanced in the extended session Tuesday after the customer-relationship-management software company reported that earnings topped Wall Street estimates and raised its outlook for the year.
Technology sector took a hit badly in yesterday's trading session on antitrust scrutiny concerns that wiped out more than $133 billion from the market value of the four technology giants.
Twilio Inc. shares declined in the extended session Wednesday after the cloud-computing company announced a secondary offering of its stock. Twilio shares declined 3% after hours, following a 2.8% decline to close the regular session at $129.17. The company said it will offer $750 million of its Class A stock with an option for underwriters to sell an additional $112.5 million in shares, or a total of about 6.7 million shares at Wednesday's closing price. The company has about 126 million shares outstanding. J.P. Morgan and Goldman Sachs are joint book-running managers for the offering. For the year, Twilio shares are up 45%, compared with an 11% rise in the S&P 500 index and a 20% rise in the iShares Expanded Tech-Software Sector ETF
The stock market bounced from session lows to close mixed Thursday, but the high-flying software sector suffered a forgettable day.
While winners are spread across many corners of the tech space, we have highlighted seven tech ETFs that hit all-time highs in the last trading session.
ETFdb.com is recommending a new short position for the month ahead. This short recommendation is based around preparing for a potential pullback in a high-beta corner of the market that appears vulnerable after a nearly-vertical recovery since the December 2018 lows. Below, we outline our investment thesis and outlook for the new recommendation.
We have presented a bunch of top-performing ETFs of the 10-year bull market that will continue to outperform in the coming months given that these have a Zacks ETF Rank 1 (Strong Buy) or 2 (Buy).
Investors looking for an ETF to play the host software sector can look to iShares Expanded Tech-Software Sector, up about 17% this year.