Which is better Amazon or Cognizant
Cognizant Technology Solutions Corp.
The New York stock exchanges closed inconsistently on Friday. After clear gains in early trading, technology stocks were once again high on investors' sell lists on Wall Street. The US stock exchanges thus recorded a very weak trading week.
At the end of the week, the Dow Jones rose 131.06 units or 0.48 percent to 27,665.64 points. The S&P 500 Index, which consists of 500 selected US companies, gained a moderate 0.05 percent to 3,340.97 points. The technology index Nasdaq Composite Index, however, lost 0.60 percent to 10,853.55 points after showing an increase of more than one percent over the course of the year.
On a weekly basis, the technology exchange Nasdaq had to post a minus of more than four percent. According to the US financial intelligence service CNBC, this means the weakest trading week since March. The Dow fell by 1.7 percent in the past week.
The day before, the shares of technology companies were under selling pressure. In the Dow Jones, Apple lost a further 1.3 percent in price at the end of the week. Microsoft fell 0.7 percent and Salesforce.com came back 1.9 percent.
On the Nasdaq, the shares of Google parent Alphabet fell by 0.7 percent. Amazon shares lost 1.9 percent.
In the weak environment of technology stocks, Nikola’s papers collapsed by almost another 15 percent. After the price jump from Tuesday to a high since July of 54.56 dollars, the hybrid truck developer's papers have now collapsed by more than 40 percent.
One of the few exceptions were the papers of the IT service provider Cognizant, which gained four percent in the Nasdaq 100. A buy recommendation from the Bank of America, which accounts for increasing business dynamism, gave a boost here.
Papers from Oracle pulled almost the entire price gains from early trading in the amount of almost eight percent and went with plus 0.3 percent into the weekend. The pandemic-induced trend towards working from home gave the SAP rival a boost in the last fiscal quarter. In the three months to the end of August, net income climbed five percent year-on-year. CEO Safra Catz spoke of a "fantastic" quarter for Oracle because business was better than expected by financial experts.
Current inflation figures hardly had any noticeable impact on the stock market. US consumer prices rose slightly more than expected in August. The annual inflation rate rose from 1.0 percent to 1.3 percent. Economists had calculated on average with a rate of 1.2 percent.
steISIN US78378X1072 US6311011026 US2605661048
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