Rebounding from yesterday's steep decline, the S&P 500 Index (SNPINDEX: ^GSPC ) bounced back today on news of an unprecedented stimulus program in Japan. With jobless claims rising unexpectedly, investors wait with bated breath for tomorrow's official Labor Department employment figures. Meanwhile, these three S&P laggards didn't have to wait long to earn the ire of Wall Street, and logged some of the worst performances in the index today:
Ohio-based data solutions company Teradata (NYSE: TDC ) was the victim of Morgan Stanley's influence today, falling 7.5% after the investment bank removed the stock from its "Best Ideas" list. The drop seems especially steep, given the fact that the rationale behind the negativity stemmed from concerns over the stock's momentum, a factor that longer-term investors are not usually inclined to weigh heavily. Teradata is set to report quarterly results later this month, on April 29.
Independent oil and gas operator EOG Resources (NYSE: EOG ) saw shares slip 2.6% in another example of how truly interconnected the world's economy has become. Crude oil futures fell 1.3%, as more worries from Europe weighed on the outlook for energy demand. European Central Bank President Mario Draghi sent shivers through energy markets with his candid remarks today, insinuating that the continent's economy remains on unsure footing.
Of course, when the demand for energy is in question, companies that supply drilling equipment, like National Oilwell Varco (NYSE: NOV ) , suffer, as well. Shares lost 1.7% today as a result of the declining price of oil. The more oil exploration companies – like EOG Resources – can get for a barrel of their wares, the more they'll need the equipment needed to extract those extra profits from the ground. Although these businesses will always be somewhat beholden to global energy markets, you still have to excel at what you do to grow sales by 36%, as National Oilwell Varco did in 2012.
National Oilwell Varco is perhaps the safest investment in the energy sector, due to its industry-dominating market share. This company is poised to profit in a big way; its customers are both increasing the number of new drilling rigs, and updating aging fleets of offshore rigs. To help determine if it could be a good fit for your portfolio, you're invited to check out The Motley Fool's premium research report featuring in-depth analysis on whether NOV is a buy today. For instant access to this valuable investor's resource, simply click here now to claim your copy.