ServiceNow Stock Sinks 12% on Gloomy CEO Comments

147
11
Favorite

ServiceNow Stock Sinks 12% on Gloomy CEO Comments

InvestorPlace2022-07-13

ServiceNow stock dropped 12% after an interview from the company’s CEO.Bill McDermott outlined a pretty stark view of various macroeconomic headwinds.This view has shifted investor sentiment for the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

147

Report

Comment（11）

No comments yet

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1113644012?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-07-13 08:20","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1113644012","market":"us","top_or_hot":-1,"title":"ServiceNow Stock Sinks 12% on Gloomy CEO Comments","media":"InvestorPlace","content":"<div>\n<p>ServiceNow stock dropped 12% after an interview from the company’s CEO.Bill McDermott outlined a pretty stark view of various macroeconomic headwinds.This view has shifted investor sentiment for the ...</p>\n\n<a href=\"https://investorplace.com/2022/07/servicenow-now-stock-sinks-12-on-gloomy-ceo-comments/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ServiceNow Stock Sinks 12% on Gloomy CEO Comments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nServiceNow Stock Sinks 12% on Gloomy CEO Comments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-13 08:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/07/servicenow-now-stock-sinks-12-on-gloomy-ceo-comments/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ServiceNow stock dropped 12% after an interview from the company’s CEO.Bill McDermott outlined a pretty stark view of various macroeconomic headwinds.This view has shifted investor sentiment for the ...</p>\n\n<a href=\"https://investorplace.com/2022/07/servicenow-now-stock-sinks-12-on-gloomy-ceo-comments/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NOW","symbol_name":"ServiceNow","start_time":0,"source_url":"https://investorplace.com/2022/07/servicenow-now-stock-sinks-12-on-gloomy-ceo-comments/","article_id":"1113644012","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1113644012","pubTimestamp":1657671612,"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"ServiceNow stock dropped 12% after an interview from the company’s CEO.Bill McDermott outlined a pre","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NOW":"ServiceNow"},"translate_title":"ServiceNow股价因CEO悲观评论而下跌12%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NOW":0.9},"content_text":"ServiceNow stock dropped 12% after an interview from the company’s CEO.Bill McDermott outlined a pretty stark view of various macroeconomic headwinds.This view has shifted investor sentiment for the stock, which has held up relatively well thus far this year.ServiceNow stock has sunk more than 12% today after CEO Bill McDermott gave aninterviewin which he warned about agloomy macroeconomic environmentmoving forward.Now, most investors are aware of the macro headwinds facing this market. We have inflation not seen in four decades. The Federal Reserve is on overdrive ramping up interest rates. Accordingly, U.S. dollar strength could hurt companies with overseas sales. Geopolitical concerns are higher than they have been in a generation, with the Russian invasion of Ukraine. And renewed Chinese Covid-19 restrictions are hampering global supply chains further.In short, there’s not much to like about this market.However, it seems that McDermott’s warnings of how these headwinds could impact the company have startled investors. While investors know these risks exist, how they pertain to specific companies like ServiceNow are noteworthy. Let’s dive into why investors are in selling mode today.NOW Stock Drops on Gloomy CEO CommentsOut of all the factors mentioned, it appears ServiceNow’s CEO is most concerned with the strong U.S. dollar. While demand appears to remain robust for IT spending, if those sales are originated in foreign currency, it means less U.S. dollars for the company. This is the case with many multinational tech companies.Indeed, the strong U.S. dollar is a headwind which is starting to get more attention right now. The dollar’s strength has been on display, with recent reports that theUSD and euro have now reached parity. Such a move hasn’t happened in two decades, and indicates the flight to safety global markets are seeing.For U.S. importers and consumers of imported goods, this can be a good thing. However, those selling their services to a global clientele may experience weakness. Right now, investors appear to be calculating what the dollar impact could be for this upcoming quarter (or quarters, should this continue).","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":true,"newsSizeData":{"likeSize":147,"commentSize":11,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}