Genuine Parts Company, Universal Health Services, And TopBuild Are Among Top 10 Large Cap Losers Last Week (Oct 21-Oct 25): Are The Others In Your Portfolio?
Portfolio Pulse from Lekha Gupta
Several large-cap stocks experienced significant declines last week, with ICON plc, Genuine Parts Company, and Newmont Corporation among the top losers. These declines were primarily due to worse-than-expected financial results and subsequent analyst downgrades.
October 26, 2024 | 3:00 pm
News sentiment analysis
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NEGATIVE IMPACT
TopBuild Corp. stock lost 11.48% as homebuilding stocks were affected by Hurricane Milton's impact.
TopBuild's stock decline is linked to sector-wide impacts from Hurricane Milton, indicating a negative short-term effect.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Carlisle Companies fell 11.45% last week due to worse-than-expected Q3 performance.
Carlisle's stock decline is directly related to its poor Q3 performance, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Comfort Systems USA stock declined 11.27% after reporting worse-than-expected Q3 sales results.
The decline in Comfort Systems USA's stock is directly related to its poor Q3 sales performance, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Genuine Parts Company stock fell 20.21% after mixed Q3 results and a cut in FY24 EPS, with analysts lowering price targets.
Genuine Parts Company's stock decline is attributed to mixed earnings and reduced EPS guidance, prompting analyst downgrades, which negatively affect short-term stock performance.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
HCA Healthcare stock fell 12.51% after worse-than-expected Q3 results, with ongoing impacts from Hurricane Helene.
HCA's stock decline is due to disappointing Q3 results and anticipated future impacts from Hurricane Helene, suggesting a negative short-term outlook.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
ICON plc shares dropped 25.95% after reporting worse-than-expected results, leading to analyst price target cuts.
The significant drop in ICON plc's stock price is directly linked to its poor financial performance and subsequent analyst downgrades, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Newmont Corporation shares dipped 15.97% following Q3 financial results, leading to analyst price target reductions.
Newmont's stock decline is due to disappointing Q3 results and subsequent analyst downgrades, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Teradyne stock declined 11.34% after reporting Q3 financial results, with analysts trimming price targets.
Teradyne's stock decline is due to disappointing Q3 results and analyst downgrades, suggesting a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tenet Healthcare stock lost 14.71% amid a broader decline in healthcare stocks, possibly in sympathy with HCA Healthcare's earnings.
Tenet Healthcare's stock decline is likely influenced by sector-wide sentiment following HCA's earnings, suggesting a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Universal Health Services stock fell 14.33% after reporting Q3 financial results.
The decline in UHS stock is directly related to its Q3 financial performance, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100