Rebounding from yesterday’s steep decline, the S&P 500 Index bounced back today on news of an unprecedented stimulus program in Japan. With jobless claims rising unexpectedly, investors wait with bated breath for tomorrow’s official Labor Department employment figures. Meanwhile, these three S&P laggards didn’t have to wait long to earn the ire of Wall Street, and logged some of the worst performances in the index today:
Ohio-based data solutions company Teradata Corporation (NYSE:TDC) was the victim of Morgan Stanley (NYSE:MS)‘s influence today, falling 7.5% after the investment bank removed the stock from its “Best Ideas” list. The drop seems especially steep, given the fact that the rationale behind the negativity stemmed from concerns over the stock’s momentum, a factor that longer-term investors are not usually inclined to weigh heavily. Teradata Corporation (NYSE:TDC) is set to report quarterly results later this month, on April 29.
Independent oil and gas operator EOG Resources Inc (NYSE:EOG) saw shares slip 2.6% in another example of how truly interconnected the world’s economy has become. Crude oil futures fell 1.3%, as more worries from Europe weighed on the outlook for energy demand. European Central Bank President Mario Draghi sent shivers through energy markets with his candid remarks today, insinuating that the continent’s economy remains on unsure footing.
Of course, when the demand for energy is in question, companies that supply drilling equipment, like National-Oilwell Varco, Inc. (NYSE:NOV) , suffer, as well. Shares lost 1.7% today as a result of the declining price of oil. The more oil exploration companies – like EOG Resources Inc (NYSE:EOG)– can get for a barrel of their wares, the more they’ll need the equipment needed to extract those extra profits from the ground. Although these businesses will always be somewhat beholden to global energy markets, you still have to excel at what you do to grow sales by 36%, as National-Oilwell Varco, Inc. (NYSE:NOV) did in 2012.
The article Today’s 3 Worst Stocks originally appeared on Fool.com is written by John Divine.
Fool contributor John Divine has no position in any stocks mentioned. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool recommends National Oilwell Varco and Teradata. The Motley Fool owns shares of National Oilwell Varco.
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