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● The close is about 13.5% below the 52-week high of $78.35 and more than three times the low of $18.94.
Three software heavyweights stumbled together on Monday, September 28, as Meta (NASDAQ:META)'s enterprise AI push collided with surging bond yields.
Corning (NYSE:GLW), Coherent (NYSE:COHR) and Lumentum (NASDAQ:LITE) fell hard on Monday, September 28, as doubts about AI spending and a jump in bond yields hit the companies that wire the world's data centers.
● nCino (NCNO) closed near $18.60 on Monday, down about 4.2% from $19.41, and about 13% below its September 17 close.
● About 6.6 million shares changed hands, far above the roughly 725,000 traded on Friday, according to exchange data.
● Cable One (CABO) traded down about 11.5% at $12.96 in Monday's afternoon session, from a $14.65 Friday close.
● DigitalOcean (DOCN) closed at $136.29 on Monday, down about 2.5% from $139.75, as cloud and software stocks retreated.
● Agilysys (AGYS) closed at $97.10 on Monday, down about 2.6% from $99.64, and about 11% below its September 14 close.
The rebound follows an unusual first half. First Trust calculated that the Magnificent 7 made up 33.4 percent of the S&P 500 at mid-year, yet three of the seven posted negative returns through June. Microsoft (NASDAQ:MSFT) fell 22.5 percent, Meta 14.5 percent and Tesla …
Advanced Micro Devices (NASDAQ:AMD) joined Nvidia, Broadcom and Micron as the fourth US chipmaker valued at USD 1 trillion, after shares reached a record close near USD 607 on September 21. The trigger was a 10 percent price increase across AI accelerators, consumer GPUs …
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