Tech earnings were ugly Wednesday night and the companies that reported are getting crushed

HP shares tanked 16 percent on Wednesday. Box lost one-fifth of its value. Booking plunged more than 8 percent, wiping out over $7 billion in market value.

They aren't alone. Fitbit plummeted 12 percent on Wednesday and software company Elastic lost 10 percent on their reported numbers. None of the companies are big enough to dramatically drag down the broader market, which fell only slightly, but the reports did surface concerns about the strength of the global economy, trade disputes and a potential slowdown that goes beyond company-specific issues.

Booking CEO Glen Fogel cited a slowdown in Europe, where the online travel company does the majority of its business. Germany, in particular, is being hurt"from trade arguments throughout the world," he said.

Thoughts & Prayers buttercups.

HPQ, A, HPE Hewlett Packard has been a domestic slo-motion train wreck since the 1970's.

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Fonte: WSJ - 🏆 98. / 63 Leggi di più »