Today's 3 Worst Stocks

A day after its worst single day in more than three months, the S&P 500 Index (SNPINDEX: ^GSPC  ) rebounded on encouraging housing data and testimony from Fed Chairman Ben Bernanke that signaled bond-buying measures would continue. Despite the positive macro news, today's three worst-performing S&P 500 stocks all had troubles with their own earnings, driving shares lower. 

Logistics company Expeditors International of Washington (NASDAQ: EXPD  ) was Tuesday's biggest laggard, dropping 7.3% as earnings declined at a double-digit rate from the year before and air freight revenue disappointed big time. The $0.40 EPS figure came in below $0.43 EPS estimates, and with operating cash flows coming in nearly $90 million lower than the year-ago period, there wasn't much for investors to applaud today.

First Solar (NASDAQ: FSLR  ) shareholders were also unenthused Tuesday. The stock closed 4.2% lower during normal hours, but fell as much as 10% after hours. The dramatic decline was due to horrendous revenue projections for the first quarter. Wall Street expected $822 million in sales, yet the company projected between $650 million and $750 million for the period today. On top of that, First Solar missed earnings expectations for the fourth quarter and projected weak cash flow moving forward. In short, absolutely nothing to be excited about for shareholders today. 

Lastly, natural gas utilities company ONEOK (NYSE: OKE  ) slumped 4% today, even though it beat earnings expectations. However, as the current valuation of a company is based on the expectations of its future success, ONEOK, like First Solar, was also the victim of lowered guidance. You just can't revise full-year earnings expectations from the $405 million-$500 million range to the $350 million-$400 million range and expect shares not to take a significant hit.

Investors and bystanders alike have been shocked by First Solar's precipitous drop over the last 12 months, and now the stakes have never been higher for the company. Are they done for good or ready for a rebound? If you're looking for continuing updates and guidance on the company whenever news breaks, we've created a brand new report that details every must know side of this stock. To get started, just click here now.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2280562, ~/Articles/ArticleHandler.aspx, 11/27/2014 9:23:54 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement