Technology Stocks Decline Amidst Market Volatility

Strategic Insights -

The tech sector is experiencing a downturn, with major stocks like Microsoft, International Business Machines, and FireEye experiencing losses amidst market volatility. The Dow Jones Industrial Average has slipped 91 points, or 0.6%, to 16,239, while the S&P 500 has declined 0.4%. The Computer Software & Services industry is currently down 0.6%, with Oracle Corporation bucking the trend by rising 0.8%. TheStreet would like to highlight the three stocks that are contributing to the decline of the Computer Software & Services industry.

Key Takeaways:

  • FireEye, Inc. is down $1.72 (-4.9%) to $33.59 on heavy volume, with 4.0 million shares exchanged hands compared to its average daily volume of 5.3 million shares. FireEye provides cybersecurity solutions for detecting, preventing, and resolving cyber-attacks. The company has a market cap of $5.9 billion and is part of the technology sector. Shares are up 11.8% year-to-date as of the close of trading on Tuesday.
  • International Business Machines Corporation is down $1.60 (-1.1%) to $142.83 on light volume, with 1.1 million shares exchanged hands compared to its average daily volume of 4.2 million shares. IBM provides information technology (IT) products and services worldwide. The company has a P/E ratio of 9.7, below the S&P 500 P/E ratio of 24.8. Shares are down 10.0% year-to-date as of the close of trading on Tuesday.
  • Microsoft Corporation is down $0.26 (-0.6%) to $43.64 on light volume, with 7.9 million shares exchanged hands compared to its average daily volume of 34.7 million shares. MSFT develops, licenses, and supports software products, services, and devices worldwide. The company has a market cap of $352.8 billion and is part of the technology sector. Shares are down 5.5% year-to-date as of the close of trading on Tuesday.

Statistics:

  • The Dow Jones Industrial Average has slipped 91 points, or 0.6%, to 16,239.
  • The S&P 500 has declined 0.4%.
  • The Computer Software & Services industry is currently down 0.6%, with Oracle Corporation bucking the trend by rising 0.8%.
  • FireEye's market cap is $5.9 billion.
  • IBM's market cap is $143.5 billion.
  • Microsoft's market cap is $352.8 billion.
  • FireEye has 14 analysts that rate it a buy, 1 analyst rates it a sell, and 8 rate it a hold.
  • IBM has 4 analysts that rate it a buy, 1 analyst rates it a sell, and 8 rate it a hold.
  • Microsoft has 14 analysts that rate it a buy, 2 analysts rate it a sell, and 8 rate it a hold.

Sources:

  • TheStreet Wire
  • Oracle Corporation (ORCL)
  • International Business Machines Corporation (IBM)
  • Microsoft Corporation (MSFT)
  • iShares S&P NA Tech Software Idx (IGV)
  • ProShares Ultra Short Technology (REW)
  • TheStreet Ratings Reports (FEYE, IBM, MSFT)