Regeneron Pharma, Super Micro Computer And Global Payments Are Among Top 10 Large Cap Losers Last Week (Sept 23-Sept 27): Are The Others In Your Portfolio?
Portfolio Pulse from Lekha Gupta
Several large-cap stocks experienced significant declines last week, with notable downgrades and investigations impacting their performance. Key companies affected include Summit Therapeutics, MakeMyTrip, Medpace Holdings, Regeneron Pharmaceuticals, Global Payments, Affirm Holdings, Super Micro Computer, TechnipFMC, First Citizens BancShares, and ServiceNow.
September 29, 2024 | 5:25 pm
News sentiment analysis
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NEGATIVE IMPACT
Affirm Holdings stock lost 8.39% last week without any company-specific news.
The decline without specific news suggests broader market factors or sentiment may be affecting the stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
First Citizens BancShares stock lost 6.09% after a downgrade by Wedbush from Outperform to Neutral.
The downgrade by Wedbush suggests a less favorable outlook, likely impacting the stock negatively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
TechnipFMC stock fell 6.10% amid reports of potential increased crude oil output by Saudi Arabia.
The potential increase in crude oil output by Saudi Arabia could impact oil prices, affecting TechnipFMC's stock negatively.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Global Payments shares dived 8.74% after guiding FY25 EPS growth below estimates and receiving multiple downgrades.
The lower EPS growth guidance and multiple downgrades indicate a challenging outlook, leading to a negative impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 95
NEGATIVE IMPACT
Medpace Holdings stock fell 9.37% after Jefferies downgraded it from Buy to Hold and cut its price target from $415 to $345.
The downgrade and reduced price target by Jefferies are likely to negatively impact investor sentiment and the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
MakeMyTrip Limited stock plummeted 12.46% with no specific news reported.
The significant drop in stock price without specific news suggests market sentiment or external factors may be influencing the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ServiceNow stock fell 5.93% due to pressure from the DOJ’s Carahsoft investigation.
The DOJ investigation creates uncertainty, likely leading to a negative impact on ServiceNow's stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Regeneron Pharmaceuticals stock lost 8.94% after Leerink Partners downgraded it from Outperform to Market Perform and lowered its price target.
The downgrade and reduced price target by Leerink Partners suggest a less optimistic outlook, impacting the stock negatively.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Super Micro Computer shares dipped 8.21% following a DOJ probe related to a short report by Hindenburg Research.
The DOJ probe following a short report is likely to create uncertainty and negatively impact the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 95
NEGATIVE IMPACT
Summit Therapeutics shares fell 14.37% after Citigroup downgraded the stock from Buy to Neutral, despite raising the price target from $19 to $23.
The downgrade from Buy to Neutral by Citigroup is a significant factor in the stock's decline, indicating reduced confidence in the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90