Twitter Trolls Are Affecting the Company’s Bottom Line. Here’s How.

Tech stocks are down again today, but which companies on the Entrepreneur Index™ were up?

3 min read

Opinions expressed by Entrepreneur contributors are their own.

An end of week rally in the stock market this morning petered out, with the Dow index posting a small gain while the S&P 500 and Nasdaq 100 indexes ended up in the red. The Entrepreneur Index™ was down 0.45 percent. Real estate investment trusts (REITs) and financial service companies were up on the day, while tech stocks fell again.

The battle with the bots is taking a toll on Twitter. The social media network has been busy closing automated accounts on its network that propagate messages on behalf of a variety of interests and causes. The latest have been pumping messages in support of Saudi Arabia and Crown Prince Mohammed bin Salman in the wake of the apparent murder of journalist Jamal Khashoggi.

Twitter shares have struggled since the company announced that monthly users on the network had dropped in the second quarter — largely because of the company’s efforts to clean house. Shares were down 1.57 percent today and have fallen by nearly a third since early July. The stock is still up 21 percent for the year.

Technology stocks as a group have been the most volatile sector in the market of late. The Nasdaq 100 was down just 0.12 percent today but most tech stocks on the Entrepreneur Index™ posted declines.

Graphics chip-maker NVIDIA, despite or because of its high growth trajectory, has been among the most volatile stocks on the index this week. It was down 4.33 percent today — the biggest decline on the index. Netflix was a close second, falling 4.05 percent. Alphabet Inc. (0.78 percent) and Cognizant Technology (0.19 percent) were the only tech stocks on the index to post gains today.

Homebuilder D.R. Horton continued its recent slide. The shares were down 3.91 percent. Rising interest rates and deteriorating housing market statistics have knocked 30 percent off the stock price this year.

Apparel manufacturers also got a dressing down today. Ralph Lauren fell 2.5 percent and Under Armour was off 2.26 percent. L Brands — maker of Victoria’s Secret lingerie — fell 3.77 percent, in part from growing concerns about Walmart‘s recent purchase of lingerie competitor Bare Necessities. That company will continue to operate independently but Walmart will sell its products online. Walmart was up 1.02 percent today.

Not every company is getting punished after posting good earnings results. J.M. Smucker had a sweet 2.02 percent gain on the strength of third quarter earnings that beat estimates by two cents.

A mix of other stocks on the index posted gains on the day. Financial services companies continued to shine. Capital One Financial was up 1.42 percent, while investment bank Jefferies Financial Group rose a more modest 0.23 percent. Mutual fund giant Franklin Resources was up 2.06 percent, the biggest gain on the index today. REITs Simon Property Group (0.96 percent), Equity Residential (0.71 percent) and Essex Property Trust (0.61 percent) were all up for the second consecutive day.

FedEx bounced off a bad day yesterday to rise 1.16 percent and Jack Daniels-maker Brown-Forman Corp., which has suffered from rising tariffs this year, was up 1.28%. It is still down 12 percent on the year.

Source link

more recommended stories

  • 4 Ways to Successfully Turn Your Day Job into a #SideHustle That Earns You #PassiveIncome from #ThePowerofPassiveIncome

    Find out which key moves you.

  • J.M. Smucker Is Up, But Rest of Stock Market Soft After Minutes of Last Fed Meeting Released

    The stock market wasn’t sure what.

  • The 10 Most Reliable Ways to Fund a Startup

    Every funding decision is a complex.

  • The Most Important Career Lessons Are the Ones You Learn From Your Mistakes

    Instead of being embarrassed by your.

  • 7 Steps to a Perfectly Written Business Plan

    February 20, 2019 7 min read.

  • Must-Reads for List-Makers, Disrupters, and Social Entrepreneurs

    Inspired by our own personal goals.

  • 3 Fast Ways To Get Good Press

    Whether you’re a publicist or a.

  • 9 Questions to Ask Candidates’ References

    February 18, 2019 5 min read.

  • Are Your Goals Too Small? Here’s How to Know.

    See your life transform by setting.

  • 5 Partnership Lessons From Bill Belichick and Tom Brady

    Neither would be wearing so many.

  • Learning From Kevin Hart’s Social Media Mistakes

    He lost his gig at the.

  • Breaking Through on the PGA Tour After 187 Tries

    PGA Tour player Ken Duke shares.

  • Learn How to Practice Mindfulness at Work for Less Than $40

    Make the ancient, stress-relieving discipline more.

  • Why Your Next Startup Should Focus on Healthcare

    Breakdowns exist in the healthcare system,.

  • Market Up as Government Shutdown Averted, but FAANG Stocks Still Down

    The government shutdown drama is over.

  • 9 Business Ideas Under $1,000 You Can Run From Anywhere

    February 15, 2019 11 min read.

  • How to Make Your Wealth Last for Generations

    Hone your financial literacy and sustain.

  • Bed Bath & Beyond (Up 49 Percent This Year) Continues to Rise, but the Market Falls Flat

    Stocks were not feeling the love.

  • This Startup Raised $30 Million. Now, Its Founder Is Accused of Fraud.

    This promising Mexican startup closed its.

  • Corporate America Needs Understand These 4 Keys to Working With Millennials

    Millennials have a bad reputation that.

  • Government Shutdown and Trade Talks Still in Limbo but Market Up Slightly

    The stock market didn’t seem overly.

  • Jack Dorsey Picks Elon Musk as ‘Most Exciting’ User, Amazon Buys Eero and Prices Spike at Whole Foods (60-Second Video)

    Here are three things entrepreneurs should.

  • This CEO Says That Second-Guessing Your Business Is Natural

    The big decision for this Canadian.

  • The Government Shutdown Wasn’t So Bad for the Stock Market — But Avoiding a Shutdown Would Be Even Better

    The Entrepreneur Index™ was up big.

  • Mars Trip Could Cost You Less Than $500K or Even $100K

    The prices would be ‘low enough.

  • Chipotle Shoots for the Stars, Hires Oscar Winner to Produce Ad

    The burrito chain the had biggest.

  • Could These Companies Be the Next $1 Billion Unicorns?

    A new study looks ahead at.

  • Stop Hitting the Snooze Button and Start Intentionally Building Your Life and Business

    Don’t beat yourself up for hitting.

  • Get Exclusive Access to Silicon Valley Trailblazers for Less Than $10

    The CEOs of Redfin, Nextdoor, SurveyMonkey,.

  • Entrepreneurial Lessons From ‘Game of Thrones’ and the Super Bowl

    Step one is investing in creative.

  • 10 Simple Productivity Tips for Organizing Your Work Life

    February 8, 2019 5 min read.

  • 13 Secrets for Making Your Cleaning Business a Success

    Get the inside scoop from established.