3 S&P 500 Tech Stocks Weighing on the Index: Netflix, Micron, Computer Sciences
The S&P 500 (NYSEARCA:SPY) is down by 0.25% today and stands at 1,341.54. Here are three stocks getting hammered on bad news.
Netflix Inc. (NASDAQ:NFLX) is down on concerns that Verizon (NYSE:VZ) and Coinstar (NASDAQ:CSTR) are creating a joint venture of video streaming. David Ernst of Hudson Square Research believes that Verizon/Coinstar won’t be able to match Netflix’s content, but the market is still concerned. NFLX shares recently traded at $128.47, up $2.04, or 1.61%. They have traded in a 52-week range of $62.37 to $304.79. Volume today was 6,872,760 shares versus a 3-month average volume of 8,516,020 shares. The company’s trailing P/E is 29.63, while trailing earnings are $4.26 per share.
Micron Technology Inc. (NASDAQ:MU): Tragedy struck Micron on Friday, as CEO Steve Appleton passed away. Micron was the only company Appleton worked for. MU shares recently traded at $7.84, down $0.11, or 1.38%. They have traded in a 52-week range of $3.97 to $11.95. Volume today was 19,981,039 shares versus a 3-month average volume of 31,262,200 shares. The company’s trailing earnings are $-0.17 per share.
Computer Sciences Corporation (NYSE:CSC): A dozen analysts are expecting a drop in earnings per share compared to the previous quarter. The stock broke through its 90 day moving average last week. CSC shares recently traded at $27.49, down $0.58, or 2.07%. They have traded in a 52-week range of $22.80 to $56.61. Volume today was 923,261 shares versus a 3-month average volume of 2,320,110 shares. The company’s trailing earnings are $-14.73 per share.