Last Week's 3 Worst Performing Stockshttp://www.fool.com/investing/general/2013/01/20/last-weeks-3-worst-performing-stocks.aspx John Maxfield
January 20, 2013
It's safe to say that last week was unusually eventful one for many of the stocks on the Dow Jones Industrial Average (INDEX: ^DJI). All of its financial components reported earnings, its aerospace company watched as its new and highly anticipated aircraft was grounded by aviation authorities around the world, and its high-yielding chipmaker was sent to the pillory after reporting earnings that confirmed fears of an anemic personal-computer market.
The worst performers of the bunch
On Thursday, the bank reported earnings for the final quarter of 2012. While I believe its figures were actually quite auspicious, the market didn't agree. For the quarter, B of A earned a mere $732 million. To put that in perspective, its two closest rivals, JPMorgan Chase and Wells Fargo, earned $5.7 billion and $5.1 billion, respectively.
With these comparison figures in mind, it's easy to see why the market was disappointed. But in B of A's case, there's more to the story. Namely, it recorded two massive legal settlements during the quarter that impaired its bottom line by a staggering $4 billion -- and that's not counting a number of additional nonoperational charges that negatively affected it. Without those, in other words, B of A would have been in the same ballpark. To read more about this, check out my column on B of A's earnings by clicking here.
The runner-up in terms of poor performance was Intel (NASDAQ: INTC), which closed the week down by 3.6%. Like B of A, Intel was hit by a viscous case of the earnings blues. Following the closing bell on Thursday, the Silicon Valley giant informed analysts and investors that its fourth-quarter profit fell by 27% compared to the same time period in 2011.
Over the past year, analysts have grown increasingly concerned about the state of the personal-computer market, and Intel's performance merely fueled the proverbial fire. Revenue from its PC client g