Bits: The Stock Market Carnage Cometh for Tech

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Friday, August 21, 2015
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The Stock Market Carnage Cometh for Tech | Nearly everything on the stock market fell on Thursday, with some tech companies taking particularly hard hits.

Most notably, Twitter dropped back to its initial public offering price of $26, after continued questions about whether the service can keep attracting new users. Netflix plunged nearly 8 percent, while Facebook fell 5 percent and LinkedIn declined 4 percent.
The carnage kept on going even after the market closed. Hewlett-Packard slipped in after-hours trading when the Silicon Valley company posted dismal quarterly results in its last earnings report before it splits into two separate entities on Nov. 1. Intuit, the maker of tax and small-business software, also tumbled after hours following quarterly results in which the company said it would divest its Quicken, Demandforce and QuickBase businesses.
There was at least one bright spot in this downward trend. Salesforce, the business software company, unveiled earnings that exceeded Wall Street expectations. In response, its shares jumped after hours.


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