Shares of digital advertising platform Magnite (NASDAQ:MGNI) fell 14.5% in the afternoon session after disappointing fourth-quarter results from industry bellwether Gartner sparked widespread concerns about a slowdown in the sector.
A number of stocks fell in the morning session after disappointing fourth-quarter results from industry bellwether Gartner sparked widespread concerns about a slowdown in the sector. The research and advisory firm reported that revenue in its Consulting segment fell 12.8%. This weak performance from a major industry player appeared to validate broader market fears about the health of the IT services and consulting industry. The negative sentiment spread quickly, with shares of other major companies like Accenture and Intuit also falling sharply. The market now seems concerned about a potential slowdown in the sector's growth rate, compounded by uncertainty over the long-term impact of artificial intelligence on existing business models.
Shares of performance marketing company QuinStreet (NASDAQ:QNST) fell 7.9% in the morning session after disappointing fourth-quarter results from industry bellwether Gartner sparked widespread concerns about a slowdown in the sector.
A number of stocks fell in the morning session after disappointing fourth-quarter results from industry bellwether Gartner sparked widespread concerns about a slowdown in the sector.
A number of stocks fell in the morning session after disappointing fourth-quarter results from industry bellwether Gartner sparked widespread concerns about a slowdown in the sector.
A number of stocks fell in the morning session after a broad sell-off swept through the software sector, driven by growing concerns about the impact of artificial intelligence.
