Currently, the Nasdaq has been relatively flat, the S&P 500 has declined 0.2% and the Dow has fallen 0.5%. The technology sector is a category of stocks relating to the research, development and/or distribution of technologically based goods and services. This sector contains businesses revolving around the manufacturing of electronics, creation of software, computers or products and services relating to information technology. The technology sector offers a wide arrange of products and services for both customers and other businesses. Consumer goods like personal computers, stereos and televisions are continually improved and upgraded, offering the latest technology to all users. Businesses receive information and services from software and database systems, which allow the companies to make strategic business decisions.
On a quiet day for the market overall so far, the Technology sector (XLK) has slipped 0.1% and its biggest movers are currently:
|Company||Market Cap||Percentage Change|
|ESCO Technologies (NYSE:ESE)||$1.01 billion||-7.9%|
|NXP (Nasdaq:NXPI)||$6.16 billion||-5.8%|
|Kayak (Nasdaq:KYAK)||$1.27 billion||-5.4%|
|Avnet (NYSE:AVT)||$4 billion||-5.1%|
|Qlik Technologies (Nasdaq:QLIK)||$1.73 billion||+5%|
|Arrow Electronics (NYSE:ARW)||$3.66 billion||-4.5%|
|Ellie Mae (NYSE:ELLI)||$648.2 million||+3.6%|
Broker Summary: TD Ameritrade Thinkorswim
ESCO Technologies (NYSE:ESE) is trading at $34.63 per share, down 7.9%. So far today, 143,085 shares of the company's stock have changed hands. Yesterday, volume was only 82,162 shares. Price change alone is not enough to know how a stock is doing. Volume is an important secondary indicator used to confirm trends suggested by price movement.
After a decline of 5.8%, NXP (Nasdaq:NXPI) has hit a share price of $23.05. The company's volume is currently 1.8 million shares for the day, 1.3 times its current daily average. If a stock is trading on low volume, then there is not much interest in the stock. On the other hand, if a stock is trading on high volume, then there is a lot of interest in the stock.
Kayak (Nasdaq:KYAK) is currently trading at a share price of $31.26, a 5.4% decline. So far today, the company's volume is 21,439 shares. If a stock price moves on high volume, this means that the change is a significant one.
Currently trading at $27.12 per share, Avnet (NYSE:AVT) has fallen 5.1%. At 3.3 million shares, the company's volume so far today is 2.3 times the average volume over the last three months. Volume is also used as a secondary indicator to help confirm what the price movement is suggesting.
Increasing 5%, Qlik Technologies (Nasdaq:QLIK) is trading at $21.29 per share. The company's volume is currently 1.2 million shares. This is on pace to reach yesterday's trading volume of 2.4 million shares. A stock's volume conveys how excited investors are about it.
Arrow Electronics (NYSE:ARW) has fallen 4.5% and is currently trading at $32.17 per share. So far today, the company's volume is one million shares, 1.1 times the current daily average. Volume is also used as a secondary indicator to help confirm what the price movement is suggesting.
Ellie Mae (NYSE:ELLI) is up 3.6% to reach a current price of $26.65 per share. The company is currently trading a volume of 181,243 shares. Volume is used to evaluate how meaningful the price movement of a stock is.
The Bottom Line On any given day, a particular stock may see positive or negative change in its share price. Paying close attention to the previous ratios will help you identify key times to adjust your strategy. Tools like valuation ratios and profit margins, however, are only as useful as the context you put them in; remember to take historical data and competitor performance into account.