Among the companies that have reported quarterly results so far, 76% have reported earnings that are higher than the mean estimate, and 46% have reported revenues above the mean estimate. But there are some stocks that had a tough quarter and have continued to struggle through the month of October.
Of October’s 10 worst-performing S&P 500 stocks, four are energy stocks, three are in health care and three are technology stocks.
10. Akamai Technologies Inc. (NASDAQ: AKAM) posted a decline of 11.9% in October and closed the month on Friday at $60.82, down about 0.5% on the day. Shares of the cloud services and content delivery network operator were trading more than 9% higher for the month until last Wednesday, when Akamai reported solid results paired with lower guidance. The stock’s 52-week trading range is $56.85 to $78.44.
9. Stericycle Inc. (NASDAQ: SRCL) specializes in disposing hazardous materials, including medical waste. Shares dropped 12.9% in October and closed Friday at $121.37, in a 52-week range of $110.56 to $151.57. The company’s earnings report last week was a disappointment and its outlook for the fourth quarter was worse.
8. Southwestern Energy Co. (NYSE: SWN) is an independent oil and gas producer that has suffered from the low prices for both commodities. Shares dropped 13% in October, and the stock posted a new 52-week low of $10.25 on Friday, before closing up 2.4% for the day at $11.04. The 52-week high is $37.26.
7. NRG Energy Inc. (NYSE: NRG) dropped 13.2% in the month of October and posted a new 52-week low last week at $12.62, before closing Friday at $12.89, unchanged on the day. The utility company announced in September that it would split itself into a fossil-fuel company and a green energy company, and that leaves investors wondering if either new company can thrive. The stock’s 52-week high is $33.92.
ALSO READ: 6 BioPharma Movers That Cannot Be Ignored
6. Endo International PLC (NASDAQ: ENDP), a generic and branded pharmaceutical maker, closed the month of October down 13.4%, after posting a 52-week low of $46.66 on October 22. Endo was caught up in the specialty pharmacy controversy that hammered Valeant. Endo’s 52-week high is $96.58. Shares closed Friday at $59.99, down about 0.7% on the day.
5. Tenet Healthcare Corp. (NYSE: THC) stock dropped about 15% in October to close Friday down 1.8% on the day at $31.37. The company reports third-quarter results next week, and on October 22 Tenet reaffirmed its EBITDA outlook for the quarter. Shares posted a new 52-week low of $26.62 on the same day. The 52-week high is $60.93.
4. Seagate Technology PLC (NASDAQ: STX) also saw its stock drop about 15% in October. Shares posted a new 52-week low of $36.80 on October 21, against a 52-week high of $69.40. Even a 17% dividend increase announced that day couldn’t buoy the share price. Shares closed Friday at $38.06, unchanged on the day.
3. Western Digital Corp. (NASDAQ: WDC) posted a new 52-week low of $66.08 on Friday, before closing the day down about 1.5% at $66.82. The computer storage device maker announced a $19 billion acquisition of SanDisk on October 21, and the stock has dropped more than $5 a share since then. The stock’s 52-week high is $114.69, and shares lost 16% in the month of October.
ALSO READ: 5 Companies That Failed Shareholders This Past Week
2. Quanta Services Inc. (NYSE: PWR) provides infrastructure services to the electric power and oil and gas industries worldwide. The company’s stock dropped of 17% in October and hit a new 52-week low of $18.46 on October 19. Shares closed up 1.3% on Friday at $20.11, and the 52-week high is $35.33.
1. CONSOL Energy Inc. (NYSE: CNX) posted a drop of 32% in October. The coal and natural gas producer was whipsawed by low prices for both its products. Shares closed up about 2.6% on Friday at $6.66, after posting a new 52-week low of $6.38 earlier in the day. The stock’s 52-week high is $42.26.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
