Today's 3 Worst Stocks in the S&P 500http://www.fool.com/investing/general/2014/01/28/todays-3-worst-stocks-in-the-sp-500.aspx John Divine
January 28, 2014
Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.
For two out of three stocks and nine out of 10 sectors, Tuesday brought something the stock market hasn't seen much of in 2014: gains. As you might have guessed, this article will be ignoring those companies entirely, instead focusing on the three largest laggards in the entire S&P 500 Index (INDEX: ^GSPC). As fate would have it, they all hail from the same beleaguered sector: technology. Tech slumped 0.9% as a whole, watching helplessly as the S&P 500 added 10 points, or 0.6%, to end at 1,792.
Shares of data storage company Seagate Technology PLC (NASDAQ: STX) were the most abject losers in the entire index, cratering 11.3% after reporting subpar results for its second quarter of the fiscal year. Seagate Technology is one of many companies that's evolved to embrace the cloud computing revolution, offering data solutions on the cloud for businesses. This is a proactive focus, no doubt, but Wall Street was particularly disappointed with the company's inability to execute and cash in on their timely efforts. Despite the earnings miss, Wall Street analysts remain