Last Week's Worst-Performing Stocks: Are These 15 Large-Cap Stocks In Your Portfolio? (April 28-May 4, 2024)
Portfolio Pulse from Lekha Gupta
Last week, several large-cap stocks experienced significant declines. CVS Health Corporation led the losses with an 18.2% drop after missing Q1 sales and EPS estimates and cutting FY24 guidance. Skyworks Solutions and Starbucks Corporation also saw notable declines of 16.8% and 15.2%, respectively, due to disappointing financial results and lowered analyst price targets. Other companies like Super Micro Computer, Bruker Corporation, Stellantis N.V., and DoorDash reported mixed financial results or revenue misses, contributing to their stock price decreases.
May 06, 2024 | 12:48 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
CVS Health Corporation shares fell 18.2% after missing Q1 sales and EPS estimates, alongside a cut in FY24 guidance.
The significant miss on both sales and EPS estimates, coupled with a downward revision in FY24 guidance, likely eroded investor confidence, leading to a sharp decline in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Starbucks Corporation shares fell 15.2% following disappointing Q2 FY24 earnings results.
Disappointing Q2 FY24 earnings results led to a negative market reaction, with multiple analysts lowering price targets, contributing to the stock's decline.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Skyworks Solutions shares dropped 16.8% after Q2 financial results and Q3 revenue guidance disappointed investors.
The company's Q2 financial performance and below-estimate Q3 revenue guidance likely led to a negative investor reaction, reflected in the stock's significant price drop.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90