Computer Software & Services Industry Struggles Amid Global Economic Volatility

Strategic Insights -

The Computer Software & Services industry is experiencing turbulence, with two major stocks in the sector, International Business Machines (IBM) and Microsoft (MSFT), trading down on light volume. Infosys (INFY) is one of the companies pushing the industry lower, with a 0.9% decline in its stock price. The industry is down 0.7% versus the S&P 500, which remains unchanged.

Key Takeaways:

  • International Business Machines (IBM) is down 0.8% to $137.47 on light volume, with 1.3 million shares exchanged hands compared to its average daily volume of 4.6 million shares.
  • Microsoft (MSFT) is down 0.5% to $53.97 on light volume, with 8.8 million shares exchanged hands compared to its average daily volume of 35.3 million shares.
  • Infosys (INFY) is down 0.9% to $16.09 on light volume, with 771,260 shares exchanged hands compared to its average daily volume of 4.4 million shares.
  • The industry is experiencing weakness due to global economic volatility, with the S&P 500 unchanged and the Computer Software & Services industry down 0.7%.
  • TheStreet Ratings rate Infosys as a buy, with 3 analysts rating the company a buy, no analysts rating it a sell, and 7 rating it a hold.
  • TheStreet Ratings rate International Business Machines as a hold, with 6 analysts rating the company a buy, 2 analysts rating it a sell, and 8 rating it a hold.
  • TheStreet Ratings rate Microsoft as a buy, with 14 analysts rating the company a buy, 1 analyst rating it a sell, and 6 rating it a hold.

Statistics:

  • The change in stock price for IBM is -$1.13 (-0.8%) to $137.47.
  • The change in stock price for MSFT is -$0.28 (-0.5%) to $53.97.
  • The change in stock price for INFY is -$0.15 (-0.9%) to $16.09.
  • The industry is down 0.7% versus the S&P 500, which remains unchanged.
  • 1.3 million shares of IBM were traded as of noon, compared to its average daily volume of 4.6 million shares.
  • 8.8 million shares of MSFT were traded as of noon, compared to its average daily volume of 35.3 million shares.
  • 771,260 shares of INFY were traded as of noon, compared to its average daily volume of 4.4 million shares.

Sources:

  • TheStreet.com, "Infosys (INFY) Stock Quote and Chart - Yahoo Finance"
  • TheStreet.com, "International Business Machines (IBM) Stock Quote and Chart - Yahoo Finance"
  • TheStreet.com, "Microsoft (MSFT) Stock Quote and Chart - Yahoo Finance"
  • TheStreet.com, "iShares S&P NA Tech Software Idx (IGV) Stock Quote and Chart - Yahoo Finance"
  • TheStreet.com, "ProShares Ultra Short Technology (REW) Stock Quote and Chart - Yahoo Finance"