Last Week's Worst-Performing Stocks: Are These 11 Large-Cap Stocks In Your Portfolio? (April 14-20, 2024)
Portfolio Pulse from Mohit Manghnani
Last week saw significant declines in several large-cap stocks, with Arm Holdings plc and ASML Holding N.V. leading the downturn due to poor quarterly results and downgrades. Other notable declines were seen in MicroStrategy Inc, Coinbase Global Inc, Prologis, Inc., Tesla Inc, Equifax Inc., Bruker Corp, Live Nation Entertainment, Inc., Arista Networks Inc., J.B. Hunt Transport Services, Inc., and Albemarle Corp, attributed to various factors including market volatility, poor earnings, and regulatory concerns.
April 22, 2024 | 12:32 am
News sentiment analysis
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NEGATIVE IMPACT
Albemarle Corp stock shed 9% in value last week due to lithium price volatility.
Albemarle's stock decline, driven by lithium price volatility, suggests a negative short-term impact for its investors.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Arista Networks Inc. fell 10.69% after a Rosenblatt analyst double-downgraded the stock to "Sell".
Arista Networks' stock decline following a double downgrade suggests a negative short-term impact due to analyst skepticism.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Arm Holdings plc stock plummeted 31.08% following a downgrade by Exane BNP Paribas and poor performance alongside ASML.
The significant drop in ARM's stock price, influenced by a downgrade and its association with ASML's poor results, suggests a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
ASML Holding N.V. reported worse-than-expected first-quarter FY24 results, affecting its stock performance.
ASML's disappointing quarterly results directly contributed to its stock's poor performance, indicating a negative short-term outlook.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Bruker Corp lost 11.90% in value after announcing the acquisition of NanoString Technologies for $392.6 million.
Bruker's stock decline post-acquisition announcement indicates market concerns over the deal, suggesting a negative short-term impact.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Coinbase Global Inc stock lost 15% last week due to the volatility in Bitcoin's price.
Coinbase's stock decline, driven by Bitcoin's price volatility, indicates a negative short-term impact for its investors.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Equifax Inc. stock decreased 13.54% after reporting worse-than-expected first-quarter sales results.
Equifax's significant stock decline following disappointing sales results suggests a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
J.B. Hunt Transport Services, Inc. fell 10.47% after its Q1 FY24 earnings missed consensus estimates.
J.B. Hunt's earnings miss and the subsequent stock decline indicate a negative short-term impact on investor sentiment.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Live Nation Entertainment, Inc. was down 11.76% following a report of an impending antitrust lawsuit by the Justice Department.
The anticipated antitrust lawsuit against Live Nation suggests significant legal challenges ahead, negatively impacting its stock in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 85
NEGATIVE IMPACT
MicroStrategy Inc's stock fell 20.07% due to Bitcoin volatility, affecting crypto-related stocks.
The decline in MSTR's stock price, tied to Bitcoin's volatility, suggests a negative short-term impact for investors focused on crypto-related assets.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Prologis, Inc. declined 13.73% after missing Q1 FY24 rental revenue consensus and lowering its FY24 outlook.
Prologis's stock decline following a missed revenue consensus and lowered outlook suggests a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Tesla Inc fell 13.6% amid falling EV demand, a Cybertruck recall, employee layoffs, and price cuts.
Tesla's multiple challenges last week, including falling demand and a recall, indicate a strong negative short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 95