Enterprise tech momentum plays have an ugly day

|By:, SA News Editor

Today's rout in tech momentum names (the latest in a string) has been especially harsh on enterprise cloud software, security, and big data/analytics plays.

Major cloud software decliners: NOW -11%. WDAY -9.6%. N -6.5%. CNQR -7.2%. SAAS -6.3%. TXTR -6.3%. ULTI -5.5%. DWRE -8%. MKTO -6.2%. CSLT -9%. RALY -7.2%.

Salesforce (CRM -4.1%) is following the group lower after announcing plans to offer industry-specific cloud software solutions. Pac Crest thinks Salesforce's top-line will benefit, but is cutting its EPS estimates on margin concerns.

Security decliners: FEYE -10.3%. PANW -8.2%. KEYW -5.7%.

Big data/analytics decliners: DATA -7.4%. SPLK -6.9%. QLIK -4.1%. Splunk's selloff comes in spite of a two-notch CLSA upgrade to Outperform.