US software stocks flicker back to life after bruising selloff

Zscaler

19/05/2026 10:25

** Shares of U.S. software firms gain premarket, looking to extend rally after showing signs of life in the last few sessions

** Workday WDAY.O rises 1.9%, Salesforce CRM.N gains 1.5%

** Zscaler ZS.O and ServiceNow NOW.N add 1.6% and 3.6%, respectively

** Intuit INTU.O advances 1.2% and iShares Expanded Tech‑Software Sector ETF IGV.P climbs 0.6%

** The gains suggest a reprieve for a beaten-down sector after a prolonged stretch of pressure, when concerns that AI could disrupt their business models sparked a selloff in shares of software companies

** Chipmakers dip premarket: Nvidia NVDA.O, Marvell Technology MRVL.O and Intel INTC.O down between 0.2% and 0.7% each

** The IGV ETF has dropped 12.2%, while the Philadelphia SE Semiconductor Index .SOX has jumped 59.6% YTD as of last close

 (Reporting by Niket Nishant in Bengaluru)

 ((Niket.Nishant@thomsonreuters.com))