Last Week’s 3 Worst Performing Stocks: Bank of America Corp (BAC), Intel Corporation (INTC), American Express Company (AXP)

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It's safe to say that last week was unusually eventful one for many of the stocks on the Dow Jones Industrial Average (INDEXDJX:.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 Bank of America CorporationOf all the companies on the Dow, however, the one that had the worst week was unquestionably Bank of America Corp (NYSE:BAC), the nation's second largest bank by assets, which saw its shares lose more than 4% over the past five days.

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 & Co. (NYSE:JPM) and Wells Fargo & Company (NYSE:WFC), 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 Corporation (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 group fell by 6% on a year-over-year basis. And to make matters worse, the chipmaker announced plans to spend roughly $13 billion in the upcoming year on new factories and other capital expenditures. The Wall Street Journal summed the market's sentiment perfectly with an article titled "Intel's Aggressive 2013 Spending Plan Spooks Investors."

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