In a yawn-inducing finish, 2011 closed out almost exactly flat with where it started. With such a low hurdle, it was easy for a positive start in 2012 to leave investors with a better gain in the first week of the year than they got from all of last year. The week-one gains didn't come without positive economic news, including a better-than-expected jobs report that showed 200,000 payroll additions and dragged the unemployment rate down to 8.5%.
The Dow Jones Industrial Average
The 3 Worst-Performing Sectors
Russell 3000 Sector
Weekly Price Change
Month-to-Date Price Change
Source: S&P Capital IQ. Weekly price change is Dec. 30-Jan. 6. Monthly price change is Dec. 30-Jan. 6.
Is Eastman Kodak
Bookseller Barnes & Noble
The 10 Worst-Performing Russell 3000 Companies
Weekly Price Change
|Barnes & Noble||(22.7%)|
Source: S&P Capital IQ. Weekly price change is Dec. 30-Jan. 6.
Also among the week's worst performers were Integra LifeSciences and AVEO Pharmaceuticals. Between late October and last week, Integra investors have now endured two episodes of forecast cutting from the company's management. In dropping full-year earnings-per-share expectations from a range of $2.88 to $2.96 to a range of $2.74 to $2.79, management's adjustment was really more of a tweak than a slash, but don't tell that to investors. Antsy shareholders made a mad dash for the exits after the announcement, leaving the stock down more than 20% for the week.
AVEO, meanwhile, had a bout of adjusting expectations of its own during the week. While not specifically financial -- a late-stage trial of the company's kidney-cancer drug didn't show nearly the advantage over competition as was expected -- the news has the potential to lead to very real financial consequences in the future. Many investors declined to stick around to find out how the long term will play out, and the stock fell nearly 19% for the week.
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