Twitter Trolls Are Affecting the Company's Bottom Line. Here's How.

Tech stocks are down again today, but which companies on the Entrepreneur Index™ were up?

learn more about Andrew Osterland

By Andrew Osterland

SOPA Images | Getty Images

Opinions expressed by Entrepreneur contributors are their own.

An end of week rally in the stock market this morning petered out, with the Dow index posting a small gain while the S&P 500 and Nasdaq 100 indexes ended up in the red. The Entrepreneur Index™ was down 0.45 percent. Real estate investment trusts (REITs) and financial service companies were up on the day, while tech stocks fell again.

The battle with the bots is taking a toll on Twitter. The social media network has been busy closing automated accounts on its network that propagate messages on behalf of a variety of interests and causes. The latest have been pumping messages in support of Saudi Arabia and Crown Prince Mohammed bin Salman in the wake of the apparent murder of journalist Jamal Khashoggi.

Twitter shares have struggled since the company announced that monthly users on the network had dropped in the second quarter -- largely because of the company's efforts to clean house. Shares were down 1.57 percent today and have fallen by nearly a third since early July. The stock is still up 21 percent for the year.

Technology stocks as a group have been the most volatile sector in the market of late. The Nasdaq 100 was down just 0.12 percent today but most tech stocks on the Entrepreneur Index™ posted declines.

Graphics chip-maker NVIDIA, despite or because of its high growth trajectory, has been among the most volatile stocks on the index this week. It was down 4.33 percent today -- the biggest decline on the index. Netflix was a close second, falling 4.05 percent. Alphabet Inc. (0.78 percent) and Cognizant Technology (0.19 percent) were the only tech stocks on the index to post gains today.

Homebuilder D.R. Horton continued its recent slide. The shares were down 3.91 percent. Rising interest rates and deteriorating housing market statistics have knocked 30 percent off the stock price this year.

Apparel manufacturers also got a dressing down today. Ralph Lauren fell 2.5 percent and Under Armour was off 2.26 percent. L Brands -- maker of Victoria's Secret lingerie -- fell 3.77 percent, in part from growing concerns about Walmart's recent purchase of lingerie competitor Bare Necessities. That company will continue to operate independently but Walmart will sell its products online. Walmart was up 1.02 percent today.

Not every company is getting punished after posting good earnings results. J.M. Smucker had a sweet 2.02 percent gain on the strength of third quarter earnings that beat estimates by two cents.

A mix of other stocks on the index posted gains on the day. Financial services companies continued to shine. Capital One Financial was up 1.42 percent, while investment bank Jefferies Financial Group rose a more modest 0.23 percent. Mutual fund giant Franklin Resources was up 2.06 percent, the biggest gain on the index today. REITs Simon Property Group (0.96 percent), Equity Residential (0.71 percent) and Essex Property Trust (0.61 percent) were all up for the second consecutive day.

FedEx bounced off a bad day yesterday to rise 1.16 percent and Jack Daniels-maker Brown-Forman Corp., which has suffered from rising tariffs this year, was up 1.28 percent. It is still down 12 percent on the year.

Andrew Osterland

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business News

A Mississippi News Anchor Is Under Fire for Quoting Snoop Dogg

WLBT's Barbara Bassett used the rapper's "fo shizzle" phrase during a live broadcast, causing the station to let her go.

Career

Thinking of a Career Change? Here Are 4 Steps You Can Take To Get There.

Author Joanne Lipman on what experience and science tell us about successful job pivots.

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.