Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why E*Trade Financial Corporation, KeyCorp, and Micron Technology Inc. Are Today's 3 Worst Stocks

The stock market retreated today, pulling back from Wednesday's record highs as investors assumed a more cautious tone, bidding bonds higher. "Cautious" probably isn't the best way to describe Wall Street's attitude toward E*Trade Financial Corporation (NASDAQ: ETFC  ) , KeyCorp (NYSE: KEY  ) , and Micron Technology (NASDAQ: MU  ) , as the three stocks ended near the bottom of the S&P 500 Index (SNPINDEX: ^GSPC  ) today. The S&P, for its part, lost 8 points, or 0.5%, to end at 1,888 today. 

Shares of E*Trade Financial Corporation logged 3.4% losses today, as the discount broker reported a slump in daily average revenue trades, or DARTs. The company reports stats monthly on metrics ranging from the number of its brokerage accounts to overall customer security values, but April's numbers did not impress. DARTs slumped 13% from March's figures, lowering the expectations of E*Trade investors in the process.

Wednesday was tough for the financial sector, which took a 0.8% haircut today. KeyCorp joined E*Trade as one of the many underperforming financial stocks of the day, shedding 3.3%. KeyCorp, which is a regional U.S. bank operating in the Midwest, saw shares slump as analysts at Nomura initiated coverage of the stock with a "neutral" rating and a $14 price target. Interest rates ticked lower today, creating headwinds for regional banks like KeyCorp, which hold variable-rate loans that turn larger profits when rates advance. 

Source: Micron Technology website

Lastly, shares of Micron Technology dipped 2.8% today as it lost its spot as the world's number two DRAM chip maker. Micron, which makes its bread and butter in the dynamic random access memory, or DRAM, market, saw its global market share eclipsed by the South Korea-based SK hyinx, according to specialty research firm DRAMeXchange. While that's not good news for Micron, the research outfit also reported that, despite giving up market share, Micron's global DRAM revenue in the first quarter was second only to Samsung. Micron stock remains near 52-week highs, which it reached yesterday.

The biggest thing to come out of Silicon Valley in years
If you thought the iPod, the iPhone, and the iPad were amazing, just wait until you see this. One hundred of Apple's top engineers are busy building one in a secret lab. And an ABI Research report predicts 485 million of them could be sold over the next decade. But you can invest in it right now, for just a fraction of the price of Apple stock. Click here to get the full story in this eye-opening new report.

Read/Post Comments (2) | Recommend This Article (2)

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.

Add your comment.

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: 2958173, ~/Articles/ArticleHandler.aspx, 8/31/2015 4:02:44 PM

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...

John Divine

Fool since 2012, unique fingerprints since birth. Age 7: Put lifetime savings ($18.37!) in the bank, became disillusioned with low interest, and a fascination with the stock market was born.

Today's Market

updated Moments ago Sponsored by:
DOW 16,571.09 -71.92 -0.43%
S&P 500 1,975.47 -13.40 -0.67%
NASD 4,786.79 -41.53 -0.86%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/31/2015 3:52 PM
^GSPC $1975.47 Down -13.40 -0.67%
S&P 500 INDEX CAPS Rating: No stars
ETFC $26.39 Down -0.14 -0.53%
E*TRADE Financial… CAPS Rating: ***
KEY $13.80 Up +0.02 +0.11%
KeyCorp CAPS Rating: ***
MU $16.46 Up +0.50 +3.13%
Micron Technology,… CAPS Rating: ****