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.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Campaign Against Huawei Runs Aground in an Exploding Tech MarketThe Chinese company’s low prices outweigh spying concerns for many countries ramping up 5G spending, in particular the pivotal internet economy of India. “The perception here is that the U.S. action is more a matter of foreign policy.” recall Trump just so happened to 'miss' India on his Asia-wide trip. Given the history of the PRC Govt and their policies to interfere, pressurize private enterprises, dealing with any telco products designed, developed and sold by any PRC based organization comes at a very high risk. PMOIndia should not under estimate that risk
Source: WSJ - 🏆 98. / 63 Read more »