Still, let's focus on the positive news for the moment. For the week ended June 8, 2012, the biggest winner in our stock index was Red Hat (NYSE: RHT, +11.74%): The open source software company launched CloudForms, a cloud management platform for enterprises and cloud services providers. Known mostly as an IaaS play, some pundits think CloudForms will compete with OpenStack, CloudStack, VMware Cloud Foundry and Windows Azure.
Other big weekly winners in the Talkin' Cloud Stocks Index included:
- Concur Technologies (NASDAQ: CNQR, +10.71%)
- Athena Health (NASDAQ: ATNH, +9.21%)
- Citrix Systems (NASDAQ: CTXS, +8.94%)
Overall, cloud computing and cloud services stocks are up nearly 20 percent so far in 2012, but Q2 performance has been turbulent. Next up, investors are worried about Moody's Investors Service potentially announcing downgrades of global banks' bond ratings. If downgrades occur, it could put more pressure on financial markets.
Elsewhere, some cloud computing companies are expected to announce news at this week's Cloud Computing Expo in New York (June 11-14, New York). And developers will converge on Microsoft TechEd (June 11-14, Orlando, Fla.) and Apple Worldwide Developer Conference (June 11-15, San Francisco).
Each of those events should reveal new trends in cloud computing and cloud services software development.
We'll be back to update the Talkin' Cloud Stocks Index again after U.S. markets close on Friday, June 15. We don't make buy, sell or hold recommendations. Rather, we use the stock index to analyze trends in cloud computing and cloud services.