Wednesday, March 02, 2016

Fidelity Writes Down Value of Corporate Software Startups - Bloomberg Business

Actual results may vary...

"Fidelity's markdowns of corporate software startups came after a brutal month for their publicly traded peers. International Business Machines Corp. and VMware Inc. reported disappointing earnings forecasts in January. Many technology companies said they expected a tough IT climate for 2016 and often cited a deteriorating macroeconomic environment as a factor.
The Standard and Poor's 500 Index was down 5.1 percent in January, but several enterprise software companies were well below that. Box Inc., a Dropbox rival, plunged 23 percent. Workday Inc. fell 21 percent. Salesforce.com Inc. dropped 13 percent."
Fidelity Writes Down Value of Corporate Software Startups - Bloomberg Business
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