• Sat. Feb 24th, 2024

ServiceNow shares drop 12% after CEO warns of fierce macro headwinds in interview


Jul 12, 2022 , ,
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ServiceNow Inc.’s stock tumbled 12% on Tuesday following an interview in which its chief executive, Bill McDermott, warned of some serious macro headwinds. “You’re at 41-year high inflation. The dollar right now is the highest it’s been in over two decades. We have interest rates rising. People worried about security. You’ve got a war in Europe. So, the mood is not great,” McDermott said in a “Mad Money” segment on CNBC that aired after markets closed Monday. “You’re going to see the headwind of the dollar right now against well-known technology brands. No one’s going to outrun the currency right now.” McDermott’s comments…

Image and article originally from www.marketwatch.com. Read the original article here.