On July 14, Workday fell 7.81% in regular trading, trading at $135.28/share, with turnover of $130 million. The decline was driven by a broad selloff across the software sector triggered by IBM's disappointing preliminary earnings release.

IBM plunged over 25% after guiding Q2 revenue at $17.2 billion, well below the analyst consensus of $17.9 billion. IBM CEO Arvind Krishna noted that some clients are redirecting capital expenditure toward servers, storage, and memory hardware, squeezing software procurement budgets. Analysts characterized the report as potentially devastating for the software and services sector, as investors fear a structural shift in enterprise spending away from software.

The selloff swept across application software names broadly, with ServiceNow and Figma falling over 7%, Workday over 6% in pre-market before extending losses in regular hours, and Intuit, Adobe, SAP, and Duolingo each declining over 4%. Workday had rebounded 5.01% just one session prior, recovering losses from a July 9 sector-wide selloff, but those gains were entirely erased. The enterprise software sector has suffered cumulative declines exceeding 35% year-to-date amid persistent concerns that AI is disrupting traditional software business models.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)