Slow Job Recovery Means Slow Talkin’ Cloud Stock Index
The 20 cloud and SaaS providers that make up the Talkin’ Cloud Stock Index are subject to the same stock market forces that affect every other industry traded on the floor. So when a weak U.S. job report depresses the market all over for the week ending June 3, 2011, it’s no surprise the Talkin’ Cloud Stock Index fell along with it.
Of those 20 cloud companies, only two posted a gain. But before we take a closer look at winners and losers, here’s our standard warning: Talkin’ Cloud doesn’t offer specific financial advice, and how you handle your investment portfolio is up to you. We only maintain the Talkin’ Cloud Stock Index to match cloud hype against real-world financial performance.
- Google (GOOG) had a 0.42 percent boost from last week to $523.08 per share on the back of analyst hype around the Google Wallet POS solution.
- But the big winner of the week was SaaS PR management solution vendor Vocus (VOCS), which surged 1.92 percent to $27.06/share amidst the countdown to the grand opening of its new corporate headquarters in Maryland.
- The top of the bottom this go-round was Kenexa (KNXA), which fell a startling 10.53 percent to $27.96 per share after analyst Longbow Research downgraded the HR solution provider to “neutral.”
- Marketing specialist Constant Contact (CTCT) continued to prove last week’s “downtrend” call prudent with a 6.51 percent slide to $22.12/share by market’s close.
- Intriguingly, employee spend management solution developer Concur Technologies (CNQR) had a sharp spike in its stock price in the middle of the week after analysts identified an upturn trend. But then it looks as though short sellers stepped in, reducing its stock price to $47.19 per share by Friday’s end. That’s an overall 4.63 percent dip.
Come back next week to find out if the Talkin’ Cloud Stock Index has some good news to share.