Markets were filled with relatively little drama Wednesday, a day where some of the biggest news was the U.S. Postal Service's announcement that it will be suspending Saturday deliveries -- wait for it -- without Congress' permission! While the S&P 500 Index (SNPINDEX:^GSPC) barely rose, gaining less than 0.1% today, the following three companies weren't so lucky.
Freight shipper and U.S. logistics company C.H. Robinson Worldwide (NASDAQ:CHRW) took a nasty 9.7% tumble after failing to meet analyst earnings expectations. Increasing competition contributed to the unimpressive quarter, which caused several analysts to downgrade the stock. That said, investment firms such as UBS and FBR Capital maintained their outperform ratings on C.H. Robinson stock, so don't count it out just yet.
Life insurance company Genworth Financial (NYSE:GNW) is our second-largest loser today, falling 2.9% as the CEO expressed outwardly his disappointment with its long-term care insurance business. His disappointment was understandable, as profits in that area came in at just a quarter of what they were in the year-ago period. Yikes.
Oil and natural gas drilling company National Oilwell Varco (NYSE:NOV) rounds out the last of our losers, dropping 2.4%. Shares have fallen nearly 10% in the last five trading days alone. That's not to say that it's not still poised for profits in today's hectic energy market. After all, offshore drillers should only ramp up their demand for equipment as exploration moves to more remote and less welcoming waters. Luckily for National Oilwell Varco shareholders, this type of equipment is exactly what the company has in spades. That day in the sun just wasn't today.
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