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Monday Sector Laggards: Technology & Communications, Utilities

By Preferred Stock Channel Staff, Monday, April 15, 2:46 PM ET
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Looking at the sectors faring worst as of midday Monday, shares of Technology & Communications companies are underperforming other sectors, showing a 1.2% loss. Within that group, Salesforce Inc (NYSE:CRM) and Enphase Energy Inc. (NASDAQ:ENPH) are two of the day's laggards, showing a loss of 6.5% and 3.5%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (NYSE:XLK), which is down 1.5% on the day, and up 5.31% year-to-date. Salesforce Inc, meanwhile, is up 4.70% year-to-date, and Enphase Energy Inc., is down 14.55% year-to-date. Combined, CRM and ENPH make up approximately 3.1% of the underlying holdings of XLK.

The next worst performing sector is the Utilities sector, showing a 0.8% loss. Among large Utilities stocks, AES Corp (NYSE:AES) and Constellation Energy Corp (NASDAQ:CEG) are the most notable, showing a loss of 2.2% and 2.1%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is down 0.8% in midday trading, and up 1.39% on a year-to-date basis. AES Corp, meanwhile, is down 13.52% year-to-date, and Constellation Energy Corp is up 60.75% year-to-date. Combined, AES and CEG make up approximately 7.6% of the underlying holdings of XLU.

Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:

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Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Monday. As you can see, none of the sectors are up on the day, while nine sectors are down.

Sector% Change
Healthcare-0.2%
Consumer Products-0.3%
Services-0.5%
Industrial-0.5%
Financial-0.7%
Materials-0.7%
Energy-0.7%
Utilities-0.8%
Technology & Communications-1.2%


This Article's Word Cloud:   Among   Change   Combined   Communications   Comparing   Constellation   Consumer   Corp   Dividend   ENPH   ETFs   Energy   Enphase   Financial   Giants   Healthcare   Held   Here   Industrial   Looking   Materials   Monday   NYSE   Products   SPDR   Salesforce   Sector   Select   Technology   Utilities   approximately   basis   date   down   faring   holdings   loss   make   meanwhile   midday   respectively   sector   sectors   showing   stocks   trading   underlying   which   worst   year

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