It's called the "SaaSpocalypse"... Software stocks crashed so hard that some investors thought it was the end of the world.

Mixed Signals in Software Stocks By Joe Austin, senior analyst, Chaikin Analytics It's called the "SaaSpocalypse"... Software stocks crashed so hard that some investors thought it was the end of the world. SaaS refers to "Software as a Service," the subscription model software companies use. It means you rent software instead of buying something that comes in a box. From September 2025 through April 2026, the State Street SPDR S&P Software and Services Fund (XSW) fell 34%. Over that same time, the S&P 500 Index stayed roughly flat. It was a rough wake-up call for tech investors who thought software stocks could only go up. Since then, XSW has recovered. But the fall we saw over the past 12 months is just part of a longer-term trend. A common way to value software companies is the price-to-sales (P/S) ratio. At the end of 2024, the median P/S ratio across public software companies was 6.2 times. By the end of 2025, that had declined to 4.9 times. At the end of March this year, it declined to 3.3 times. The reason, of course, was AI. The last leg down occurred as Anthropic released Claude Cowork, an AI tool that can run multistep software tasks on its own. But the negative sentiment may have gone too far. The software industry still showed some great results. According to Pitchbook, earnings before interest, taxes, depreciation, and amortization ("EBITDA") margins will increase from 20.0% last year to 22.6% this year. That's up from 17.4% in 2024. In the first five months of this year, global software deal value rose 41% versus the first five months of last year. That puts software mergers and acquisitions on track for their second-best year ever. But on Wall Street, the truth rarely gets in the way of a good gloom-and-doom story, especially one built on AI. Software still drives a lot of innovation in our economy. And the Power Gauge recently turned positive on XSW. So let's see what's going on in these stocks. Recommended Links: TOMORROW: 'The Opportunity That Made Me Millions in 1999 Is Reopening' CNBC dubbed Whitney Tilson "The Prophet," largely thanks to his stunning predictions in 2000 and 2008. Tomorrow, he's sharing an urgent new prediction, which he says could make you as much as 1,000% multiple times – if you're fast. Click here to learn more (includes two free recommendations). This Market Is Much More Dangerous Than You Think The numbers don't lie: GDP... inflation... employment... consumer sentiment – all are very ugly. The federal debt is spiraling. The biggest threat: the bursting bubble of manic AI valuations and the debt-fueled build-out. You don't have to "sit out" – but you absolutely MUST move at least some money into the single best defensive strategy we know... one that's poised to explode when everything else hits the fan. This is your No. 1 financial move to make today. The Power Gauge Sees a Shift Take a look at the one-year chart of XSW... Late last year, the Power Gauge turned negative. And along the way, the system put out seven sell signals. But XSW's trend reversed in the summer – it has gotten four buy signals since mid-July. Money flow and relative performance turned positive, too. A turnaround like that can mean a big shift in market sentiment. The simplest way to play this trend is to buy the ETF. This isn't a terrible strategy – XSW has more than quadrupled the return of the S&P 500 in the past three months. That's great for a short-term trade. But an index ETF buys everything, winners and losers alike, and not every stock in this ETF deserves your attention. Take a closer look, and you'll find that there are plenty of great software companies to buy. You just have to be picky...   How to Find the Software Winners The industry standard for judging software companies is the "Rule of 40." It gives us a baseline to compare individual names. You calculate it by adding a company's revenue growth to a measure of profit, like free cash flow margin or EBITDA margin. If a company balances growth and profitability well, the two should add up to at least 40. I used our new screener to help me run a similar analysis. I screened for software companies in the Russell 3000 that the Power Gauge rates "bullish" or "very bullish." I also limited the screen to companies with at least $1 billion in market cap. As of last week, that was 72 companies. Then I calculated the Rule of 40 for each one. Half – 36 companies – cleared the bar. For the others, revenue growth plus free cash flow margin added up to less than 40. I then looked at valuation. The first thing I noticed is that you're paying up for a strong Rule of 40 score. The best names tend to carry the richest price tags. In software, a P/S ratio above 10 is usually a sign of success. It also means the market has high hopes... And when expectations are that high, the stock can get bumpy. Of the 12 companies that trade above 10 times sales, 10 of them cleared the Rule of 40. Two didn't. I also checked debt levels, a newer worry in software. Traditionally, software businesses didn't run on debt. Now companies borrow more, usually to buy other companies. In any business, debt changes the bet. You're trusting management to borrow money and spend it well. And if interest rates rise, that debt gets heavier. Out of the 72, nine had debt-to-equity ratios above 2 times, and another nine were lower but still above 1 times. Fourteen of the 72 companies grew their debt 20%-plus over three years. But seven of these still cleared the Rule of 40. So it's an even score as to whether the debt is helping or hurting. Last, I went through the Power Gauge's take on every stock. I looked for strong Money Flow, strong relative strength, and buy signals. Based on that analysis, there were 12 names with really great charts. There were 10 more with favorable characteristics, but fewer buy signals. That's just my take based on reading the Power Gauge at a particular point in time. If you're hunting for buy ideas, that's plenty to chew on. But this is out of 72 companies – not the 100-plus in XSW that includes many companies the Power Gauge doesn't like. The Power Gauge, though, does have a favorable view of the software industry group these days. You just have to know where to look. And that's what the Power Gauge does best. Good investing, Joe Austin Marc Chaikin is speaking at our corporate affiliate Stansberry Research's upcoming 24th annual conference in Las Vegas. And he would love for all his readers to see his presentation... Click here for a discounted Livestream Virtual Pass so you can watch Marc LIVE from your phone or laptop – in the comfort of your own home. Market View Major Indexes and Notable Sectors     # Hld:     Bullish     Neutral       Bearish Dow 30 -1.13% 8 14 8 S&P 500 -0.55% 105 244 148 NASDAQ -0.08% 22 56 21 Small Caps -0.45% 515 981 394 Bonds -0.01%   Oil, Gas and Consumable Fuels +1.68% 33 16 2 — According to the Chaikin Power Bar, Small Cap stocks remain somewhat more Bullish than Large Cap stocks. Major indexes are mixed. *  *  *  * Sector Tracker Sector movement over the last 5 days Information Technology +2.30% Utilities +2.09% Industrials +0.98% Communication +0.58% Financial +0.17% Energy +0.00% Materials -0.25% Real Estate -0.32% Discretionary -0.52% Staples -1.44% Health Care -2.64% *  *  *  * Industry Focus Oil & Gas Equipment Services 8 19 6 Over the past 6 months, the Oil & Gas Equipment Services subsector (XES) has underperformed the S&P 500 by 1.61%. However, its Power Bar ratio which measures future potential is Strong, with more Bullish than Bearish stocks. It is currently ranked #13 of 21 subsectors. Top Stocks FET Forum Energy Technologies, Inc. FTI TechnipFMC plc INVX Innovex International, Inc. *  *  *  * Top Movers Gainers LITE +11.04% INTC +9.05% HPE +7.75% GLW +7.56% COHR +7.10% Losers HWM -10.70% AMGN -10.08% SYK -8.81% GDDY -8.32% EXPE -7.88% *  *  *  * Earnings report Earnings Surprises BRZE Braze, Inc. Q2 $0.19 Beat by $0.03 UNFI United Natural Foods, Inc. Q4 $0.69 Beat by $0.07 ABM ABM Industries Incorporated Q3 $1.04 Beat by $0.03 *  *  *  * You have received this e-mail as part of your subscription to PowerFeed. If you no longer want to receive e-mails from PowerFeed, click here. You're receiving this e-mail at STEVENMAGALLANES520.NIMS@BLOGGER.COM. For questions about your account or to speak with customer service, call +1 (877) 697-6783 (U.S.), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. Please note: The law prohibits us from giving personalized financial advice. © 2026 Chaikin Analytics, LLC. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Chaikin Analytics, LLC. 201 King Of Prussia Rd., Suite 650, Radnor, PA 19087. www.chaikinanalytics.com. Any brokers mentioned constitute a partial list of available brokers and is for your information only. Chaikin Analytics, LLC, does not recommend or endorse any brokers, dealers, or investment advisors. Chaikin Analytics forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Chaikin Analytics, LLC (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation. This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

USAO - Texas, Western - Attorney Vacancies News Update

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🏈 The top games of Week 2

Plus, Week 1's true freshman standouts, and Florida State fans are fed up.

Wednesday, September 09, 2026 If this email was forwarded to you, please subscribe. College Football 1 The Top 10 games of Week 2 Week 1 wrapped with more drama than expected, capped by a controversial finish between Michigan and Western Michigan. Week 2 brings one game that dwarfs everything else on the schedule, plus the first taste of conference play in a few spots. Here's a snapshot from Wilson Alexander's Top 10 Games of the Week.   7. Tennessee at Georgia Tech (Saturday, 7 p.m. ET, ESPN) Tennessee freshman quarterback Faizon Brandon earned SEC freshman of the week honors after a five-touchdown debut against Furman, and linebacker Arion Carter is back from suspension as the Volunteers head to Atlanta as heavy favorites. Georgia Tech needs a response after last week's late collapse against Colorado, especially from a run game that mustered just 51 yards with sacks included.   1. Ohio State at Texas (Saturday, 7:30 p.m. ET, ABC) Ohio State heads into Austin for the season's first top five matchup, with early College Football Playoff positioning on the line. Texas has dropped its last two meetings with the Buckeyes, but Steve Sarkisian gets this one at home, and the game showcases quarterbacks Arch Manning and Julian Sayin alongside wide receivers Jeremiah Smith and Cam Coleman. Texas is a slight favorite, according to Polymarket.   Wilson Alexander ranked the other eight best games of Week 2 below, including a marquee matchup that has one starting quarterback's job in question and a rivalry renewal that won't happen again for another decade. SEE THE FULL SLATE → College Football 2 True Freshman Standouts from Week 1 Week 1 delivered a wave of standout true freshman performances across the country, with several top-rated prospects looking every bit the part in their college debuts. Nebraska RB Jamal Rule earned True Freshman of the Week honors, racking up three total touchdowns and more than 160 all-purpose yards in a breakout debut. Charles Power breaks down four more true freshmen who turned heads in Week 1, including a five-star name that already has a signature play to his credit. FULL STORY → College Football 3 Florida State put its fans in purgatory, and all they can do for now is boo Florida State's home crowd turned openly hostile toward Mike Norvell throughout Monday night's loss to SMU, booing stalled drives, a timeout, and every setback in between. The Seminoles rallied to tie it before falling 27-24, and Andy Staples argues that some fans may have welcomed the result given where the program stands financially heading into 2027. Norvell addressed the boos head-on after the game, and Staples explains why "better play" might not be enough to pull Florida State out of its current purgatory. COLUMN FROM ANDY STAPLES → 4 College Football Louisiana politicians call out SEC hypocrisy amid league's 'ridiculous' threat to expel LSU "I and a lot of other people in the United States Congress will be on them like a hobo on a ham sandwich. LSU hasn’t done anything wrong," said one Louisiana Senator. Read More → 5 College Football Dabo Swinney gets chippy with reporter after Clemson roster construction question Dabo Swinney continues to face immense criticism following Clemson's embarrassing 51-10 loss at No. 11 LSU. But rather than taking responsibility for the demoralizing defeat, Swinney instead flipped the script on a local reporter. Read More → 4 College Football Louisiana politicians call out SEC hypocrisy amid league's 'ridiculous' threat to expel LSU "I and a lot of other people in the United States Congress will be on them like a hobo on a ham sandwich. LSU hasn’t done anything wrong," said one Louisiana Senator. Read More → 5 College Football Dabo Swinney gets chippy with reporter after Clemson roster construction question Dabo Swinney continues to face immense criticism following Clemson's embarrassing 51-10 loss at No. 11 LSU. But rather than taking responsibility for the demoralizing defeat, Swinney instead flipped the script on a local reporter. Read More → Also Trending 6 Iowa band member taken off life support after collapsing during Saturday’s game 7 LSU finalizes 2026 roster, eliminates possibility for Dae'Quan Wright and Zxavian Harris to join team 8 ESPN ranks Top 25 teams with highest chance to make College Football Playoff after Week 1 9 2026 college football rankings: Danny Kanell releases wild Top 12 rankings after Week 1 10 Georgia Southern DB Aaron Sears likes his team's chances vs. Clemson in Week 2 Not subscribed? Get On3 | Rivals National + Team All-Access Get The App Unsubscribe Privacy Policy On3.com © 2026 On3 | Rivals. All rights reserved. 2970 Foster Creighton Drive, Nashville, TN 37204