Mon. Oct 21st, 2019

Software stocks slide ahead of Salesforce earnings

Image result for Software stocks slide ahead of Salesforce earningsShares of software stocks are getting crunched in Monday afternoon trading, as investors await Inc.’s CRM, -3.66% earnings report after the bell. Okta Inc.’s stock OKTA, -7.95% is among the biggest losers in Monday’s session, down more than 8%. Atlassian Inc. TEAM, -5.62% shares are down roughly 6%, while Veeva Systems Inc. VEEV, -4.16% Splunk Inc. SPLK, -5.01% and Workday Inc. WDAY, -5.24% shares are all down about 5%. Nutanix Inc. NTNX, -0.56%shares dropped again following a downgrade at Raymond James. The SPDR S&P Software & Services ETF XSW, -1.98% is off 2.8% in Monday trading. It has gained 15.5% over the past three months, while the S&P 500 SPX, -0.39% has risen 2.9%.