Ten companies performed poorly on Wednesday, mostly dragged down by disappointing earnings results and a pessimistic outlook, among other factors.
The companies mirrored two of Wall Street’s main indices, which ended in the red during the session, with the Dow Jones dropping 0.38 percent, and the S&P 500 declining 0.12 percent. In contrast, the tech-heavy Nasdaq grew 0.15 percent.
In this article, we name Wednesday’s 10 worst-performing stocks and break down the reasons behind their drop.
To compile the list, we focused on stocks with more than $2 billion in capitalization and 5 million shares in trading volume.
Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels
10. Novo Nordisk A/S (NYSE:NVO)
Novo Nordisk extended its losing streak to a third straight day on Wednesday, dropping 7.25 percent to close at $50.03 apiece after earning a stock downgrade from Bank of America.
In a market note, the investment firm said it downgraded Novo Nordisk A/S (NYSE:NVO) to “neutral” from “buy” previously and lowered its price target to 375 Danish kroner from 550 Danish kroner.
The revision followed the company’s pessimistic outlook for the rest of the year which would pose a challenge for its new chief executive.
In a statement earlier this week, Novo Nordisk A/S (NYSE:NVO) said it now expects full-year sales to grow between 8 and 14 percent, down from the 13 to 21 percent projected previously, as well as annual operating income growth to slow down at 10 to 16 percent as compared with the 16 to 24 percent prior.
Novo Nordisk A/S (NYSE:NVO) said the new guidance was due to an expected weaker second half sales growth forecast for its blockbuster Wegovy and Ozempic drugs.
“For Wegovy in the US, the sales outlook reflects the persistent use of compounded GLP-1s, slower-than-expected market expansion, and competition,” Novo Nordisk A/S (NYSE:NVO).
Meanwhile, the company welcomed company veteran Maziar Mike Doustdar as its new CEO, effective August 7, 2025. He will replace ousted CEO Lars Fruergaard Jørgensen.
9. TMC the metals company Inc. (NASDAQ:TMC)
Shares of TMC the metals company Inc. (NASDAQ:TMC) fell for a fourth day on Wednesday, shedding 7.56 percent to close at $6.11 apiece, amid uncertainties over its deep-sea mining intentions in the international seabed.
This followed growing criticisms from members of the International Seabed Authority (ISA) and deep-sea advocates after the company immediately announced its intention to mine in international waters, following the industry’s gaining the backing of President Donald Trump.
According to members of the ISA, TMC the metals company Inc. (NASDAQ:TMC)—being an originally Canadian company and with Canada a member of the organization—has bypassed the ISA.
In its defense, the submission was filed through its US subsidiary, leveraging the United States’ non-membership in the ISA.
Earlier this year, TMC the metals company Inc. (NASDAQ:TMC) argued that the ISA “does not have an exclusive mandate to regulate seabed mining activities in the Area, and there are existing claims outside of UNCLOS.”
“UNCLOS membership is not universal…The freedom to mine the deep seabed, like the freedom of navigation, is a high seas freedom enjoyed by all nations,” it noted.
8. GE HealthCare Technologies Inc. (NASDAQ:GEHC)
GE HealthCare declined by 7.82 percent on Wednesday to close at $71.64 apiece as investors turned cautious over its market share loss and slow order growth despite recording an impressive earnings performance for the second quarter of the year.
In its earnings release, GE HealthCare Technologies Inc. (NASDAQ:GEHC) said attributable net income during the period dropped by 13.5 percent to $486 million from $428 million in the same period last year. Revenues, on the other hand, inched up by 3.5 percent to $5 billion from $4.8 billion year-on-year.
Total company orders also increased by 3 percent, the softest as compared with its competitors.
For the six-month period, attributable net income increased by 31 percent to $1.05 billion from $802 million, while revenues grew by 59 percent to $9.78 billion from $9.49 billion.
For the full-year 2025, GE HealthCare Technologies Inc. (NASDAQ:GEHC) expects organic revenue growth to grow by 3 percent year-on-year, as compared with the 2-3 percent projected previously.
7. Nextracker Inc. (NASDAQ:NXT)
Nextracker dropped its share prices by 9.28 percent on Wednesday to end at $58.88 apiece as investors appeared to have already priced in an optimistic growth outlook for the full fiscal year 2026 amid the anticipated expiration of tax credits by the end of 2025.
In a statement, Nextracker Inc. (NASDAQ:NXT) raised its net income growth outlook for the fiscal year ending March 2026 to a range of $496 million to $543 million with revenues between $3.2 billion and $3.45 billion.
Analysts previously expected that companies benefiting from tax solar credits would see a surge in sales through the end of the year as customers rush to take advantage of the credits before the expiration date.
“Our outlook assumes the current US policy environment remains in effect, and in addition, that permitting processes and timelines will remain consistent with historical levels,” Nextracker Inc. (NASDAQ:NXT) said.
Nextracker Inc. (NASDAQ:NXT) also posted a strong earnings performance in the first quarter of fiscal year 2026, ending June, having grown its net income by 25.6 percent to $157 million from $125 million in the same period last year.
Revenues also increased by 20 percent to $864 million from $720 million year-on-year.
6. Freeport-McMoRan Inc. (NYSE:FCX)
Freeport-McMoran dropped its share prices for a third consecutive day on Wednesday, shedding 9.46 percent to close at $39.14 apiece as investors sold off positions following President Donald Trump’s imposition of 50 percent tariffs on copper imports.
Effective Friday, August 1, the US will slap a 50-percent levy on copper import products such as copper pipes, wires, rods, sheets, and tubes, as well as copper-intensive derivative products such as pipe fittings, cables, connectors, and electrical components.
Trump said that the imposition was aimed at addressing the effects of copper imports on America’s national security.
While headquartered in the US, Freeport-McMoRan Inc. (NYSE:FCX) was not spared from the new policies, having two mining sites in Peru and Chile, and one in Indonesia.
In other news, Freeport-McMoRan Inc. (NYSE:FCX) saw its net income attributable to shareholders increase by 25 percent in the second quarter of the year, to $772 million from $616 million in the same period last year.
Revenues increased by 14 percent to $772 million from $616 million year-on-year.
5. Old Dominion Freight Line, Inc. (NASDAQ:ODFL)
Old Dominion dropped for a fourth consecutive day on Wednesday, slashing 9.66 percent to close at $146.46 apiece following a disappointing earnings performance in the second quarter of the year.
In its updated report, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) said that net income fell by 16.6 percent to $268.6 million from $322 million in the same period last year. Total revenues dipped by 6.1 percent to $1.4 billion from $1.5 billion year-on-year, due to a 9.3-percent decrease in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight.
In the six-month period, net income dropped by 14.8 percent to $523 million from $614 million, while revenues dipped by 6 percent to $2.78 billion from $2.96 billion.
“Old Dominion’s financial results in the second quarter reflect the ongoing softness in the domestic economy. While the challenging macroeconomic backdrop created demand headwinds for our business during the quarter, our market share remained relatively consistent and our team continued to execute on our long-term strategic plan,” said Old Dominion Freight Line, Inc. (NASDAQ:ODFL) President and CEO Marty Freeman.
4. Unum Group (NYSE:UNM)
Unum Group declined by 12.18 percent on Wednesday to finish at $71.11 apiece following a disappointing earnings performance in the second quarter of the year.
In its financial statement, Unum Group (NYSE:UNM) said net income dropped by 13.8 percent to $335.6 million from $389.5 million in the same period last year.
Total revenues, on the other hand, grew by 3.9 percent to $3.36 billion from $3.23 billion year-on-year.
“During the quarter, we made meaningful progress against our strategic priorities, despite earnings results that did not meet our expectations,” Unum Group (NYSE:UNM) President and CEO Richard McKenney said.
“Core fundamentals remain solid, and we continued to deliver strong premium growth in our capital-efficient, high-return businesses. We continue to execute on our risk management and capital deployment priorities, returning substantial capital to shareholders through dividends and share repurchases while closing our long-term care reinsurance transaction,” he added.
By August 15, shareholders of Unum Group (NYSE:UNM) as of July 25 will receive a $0.46 quarterly dividend per common share held.
3. O-I Glass, Inc. (NYSE:OI)
O-I Glass saw its share prices fall by 12.5 percent on Wednesday to end at $12.67 apiece after swinging to a net loss in the second quarter of the year.
In its updated report, O-I Glass, Inc. (NYSE:OI) said it recorded a $5 million attributable net loss during the period, a reversal of the $57 million net income in the same period last year.
Attributable net loss also ended at $20 million in the first six months of the year, reversing a $129-million net profit year-on-year.
Net sales for both the second quarter and first half amounted to $1.7 billion and $3.2 billion, respectively, flat from the same periods last year.
According to O-I Glass, Inc. (NYSE:OI), net sales benefited from favorable currency translation, but were offset by slightly lower selling prices and an approximately 3 percent decline in shipment volume.
Despite the dismal performance, O-I Glass, Inc. (NYSE:OI) expects its full-year adjusted earnings per share to grow between $1.3 and $1.55, versus the $1.2 to $1.5 guidance previously.
2. Entegris, Inc. (NASDAQ:ENTG)
Entegris nosedived by 14.46 percent on Wednesday to close at $79.34 apiece as investors soured on its dismal earnings performance and shunned a highly confident outlook for the current quarter of the year.
In its updated report, Entegris, Inc. (NASDAQ:ENTG) said that net income dropped by 22 percent in the second quarter of the year to $52.8 million from $67.7 million in the same period last year.
Net sales also dipped by 2.5 percent to $792.4 million from $812.7 million year-on-year.
“Semiconductor industry trends are largely unchanged. AI-enabled applications are driving significant growth in advanced logic and HBM. However, elsewhere, fab activity remains subdued. And in the short term, the uncertainty around trade policies and the macroeconomic environment will continue to have an impact on semiconductor demand,” said Entegris, Inc. (NASDAQ:ENTG) President and CEO Bertrand Loy.
Despite the disappointing figures, Loy said that the company is highly optimistic about its business outlook for the rest of the year.
“Looking further ahead, nothing has changed in our long-term view of the industry. We remain very optimistic and continue to have high confidence in the strong long-term growth outlook for the market and Entegris,” he noted.
1. Silgan Holdings Inc. (NYSE:SLGN)
Silgan Holdings tumbled by 15.23 percent on Wednesday to close at $47.3 apiece as investor sentiment as investors soured on a lower growth outlook for this year, despite recording a strong earnings performance in the second quarter of the year.
In its financial statement, Silgan Holdings Inc. (NYSE:SLGN) lowered its adjusted net income per diluted share for 2025 to $3.85 to $4.05 from the $4.00 to $4.20 previously.
“The revision in the company’s estimate of adjusted net income per diluted share is primarily the result of lower volume expectations for specialty closures products for the North American beverage markets and the expected impact associated with a recent customer bankruptcy in the North American Metal Containers business,” it said.
Meanwhile, the company added that the third quarter is expected to be impacted by lower volumes for specialty closure products for the North American beverage market and by a recent customer bankruptcy in the North American Metal Containers business.
In its recent earnings report, Silgan Holdings Inc. (NYSE:SLGN) said net income increased by 17 percent to $89 million in the second quarter from the $76.1 million in the same period last year.
Net sales also increased by 8.7 percent to $1.5 billion from $1.38 billion year-on-year.
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