With August in the rearview mirror and Labor Day here, the second half of 2019 is very much under way.
Barron’s is starting September by examining some of the best and worst performing stocks of the year so far. Below, we’ll highlight the three worst performing tech stocks in the S&P 500, as well as some other notable tech performances.
The S&P 500 is up 18% in 2019 through last week, while the Nasdaq Composite is up 21%.
DXC Technology stock (ticker: DXC) is down 35% this year through Labor Day. The company, formed by the 2017 merger of CSC and the Hewlett Packard Enterprise ’s (HPE) enterprise-services division, helps companies move to the cloud. In August, the company said fiscal first-quarter sales and earnings fell year-over-year.
TripAdvisor stock (TRIP) has fallen 30% in 2019. The review-and-booking website operator’s shares have fallen as investors have worried about competition in the hotel business and growth at its experiences and dining business—though some analysts believe it’s due for a rebound.
CenturyLink stock (CTY) has lost 25% this year. The wireline telecommunications company recently announced plans to invest millions in “edge computing” as part of a push to offer cloud and other services to clients. That has buoyed the shares somewhat, though the company has broader issues.
Other notable tech stocks
Imaging, printing, and solutions company HP (HPQ) is down 11% through August.
Virtual private networking and cloud solutions company Citrix Systems (CTXS) has fallen 9%.
Network equipment maker F5 Networks (FFIV) has slumped 20%, while Juniper Networks (JNPR) was down 14%.
Storage and data management company NetApp (NTAP) was down 19% through August.