Today's 3 Worst Stocks

Stocks ended sideways Wednesday after Federal Reserve minutes from the June policy meeting failed to bring anything groundbreaking to attention. Top members of the central bank seem to be at odds with one another about when to curb the $85 billion monthly bond-buying program; some think an immediate pullback is needed, while others think the economy should prove its stability first. The S&P 500 Index (SNPINDEX: ^GSPC  ) yawned at the release and traded roughly even, adding just 0.3 points, or -- if we're rounding -- 0%. Still, three S&P components managed to find ways to struggle big time.

In this respect, drilling contractor Nabors Industries (NYSE: NBR  ) was a standout, losing 6.3% Wednesday. The company gave a heads-up to investors today, warning that second-quarter results would probably disappoint. Considering that those results come out in less than two weeks, Wall Street took the company at its word, and Goldman Sachs took the stock off its Conviction Buy list.

Micron Technology (NASDAQ: MU  ) shares have the ominous distinction today of posting back-to-back horrendous days, after showing up on this very list yesterday. Stock in the memory-chip maker shed 4.5% today, after Gartner reported a continuation of declining PC sales in the second quarter. The nearly 11% fall in global shipments makes for a fifth straight quarter of falling personal-computer sales, the worst streak the industry has ever seen.

Lastly, oil refiner Tesoro (NYSE: TSO  ) slumped 4.5%, one of three refiners among the S&P's 10 worst stocks Wednesday. Today's warning from the Organization of Petroleum Exporting Countries, or OPEC, that oil supply probably won't keep up with demand in the coming year is bad news for refineries, which may not be able to run at full capacity with dwindling supply. Middle East tensions, with Egypt's volatile political situation in the foreground, threaten to stem global production.


Read/Post Comments (0) | Recommend This Article (1)

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: 2531308, ~/Articles/ArticleHandler.aspx, 10/31/2014 2:38:08 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