UPDATE: Software stocks get crunched with Zoom, Okta among biggest losers

RLJ Lodging Trust

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RLJ-A RLJ Lodging Trust

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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap ValueCompany profile

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of September 6, 2018, the Company owned 152 hotels with 29,490 rooms, located in 26 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel. Its hotels' brand affiliations include Residence Inn, Courtyard, SpringHill Suites, Fairfield Inn & Suites, Marriott, Renaissance, Hilton Garden Inn, Hampton Inn/Hampton Inn & Suites, Embassy Suites, DoubleTree, Homewood Suites, Hilton, Hyatt House, Hyatt Place and Hyatt/Hyatt Centric. Its operating partnership is RLJ Lodging Trust, L.P. Its properties include Courtyard San Francisco, Courtyard Boulder Longmont, Residence Inn Longmont Boulder, DoubleTree Grand Key Resort, Courtyard Atlanta Buckhead, Courtyard Chicago Southeast Hammond, Courtyard Louisville Northeast, DoubleTree Hotel Columbia and Residence Inn Detroit Novi.

UPDATE: Software stocks get crunched with Zoom, Okta among biggest losers

10:57 am ET July 29, 2019 (MarketWatch) Print

Shares of software names are getting pummeled in Monday morning trading in the wake of a recent rally, after the iShares Expanded Tech-Software Sector ETF (IGV) closed at an all-time high on Friday. Several recent initial public offerings are among the biggest decliners, with Zoom Video Communications Inc. shares down 8.1% and CrowdStrike Holdings Inc. shares (CRWD) off 6%. Other names showing weakness in the session include Okta Inc. (OKTA), down 6.9%, Roku Inc. (ROKU), down 6.2%, Atlassian Corp. (TEAM), down 7.4%, Smartsheet Inc. (SMAR), down 6.2%, and Shopify Inc. (SHOP.T), down 5.5%. Larger software stocks including Salesforce.com Inc. (CRM), Adobe Systems Inc. (ADBE), and Workday Inc. (WDAY) are down as well. The First Trust Cloud Computing ETF (SKYY) is off 2.6% in the session, while the Global X Cloud Computing ETF (CLOU) is off 3.2% and the more software-focused iShares Expanded Tech-Software Sector ETF is down 2.5%. Barron's warned of a software bubble (http://www.marketwatch.com/articles/soaring-software-stocks-show-signs-of-a-bubble-51564188580) in its weekend issue. The S&P 500 is only off 0.3% in Monday trading.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 29, 2019 10:57 ET (14:57 GMT)