Ten stocks were heavily rattled on Friday, alongside Wall Street’s major indices, as investors panicked and sold off positions to minimize risks following President Donald Trump’s imposition of new levies on US imports.
Among Wall Street’s indices, the tech-heavy Nasdaq was the most severely battered, dropping 2.24 percent, followed by the S&P 500, which fell 1.6 percent, and the Dow Jones, down 1.23 percent.
In this article, we focus on the 10 worst-performing mid-cap companies on Friday and break down the reasons behind their declines.
To compile the list, we focused on stocks with more than $2 billion in capitalization and 5 million shares in trading volume.
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10. Roku Inc. (NASDAQ:ROKU)
Shares of Roku Inc. fell by 15.06 percent on Friday to finish at $79.98 apiece amid a combination of profit-taking and broader market pessimism from President Donald Trump’s new wave of tariffs on all US imports.
On the same day, Roku Inc. (NASDAQ:ROKU) released the results of its earnings performance for the second quarter of the year, where it swung to a $10.5 million net income from a $33.9 million net loss in the same period last year. Total net revenues increased by 14.8 percent to $1.1 billion from $968 million in the same period last year, driven by the strong performance in video advertising and the successful acquisition of Frndly.
In the first half, Roku Inc. (NASDAQ:ROKU) remained at a net loss of $16.9 million, albeit lower by 80 percent versus the $84.8 million in the same period last year. Total revenues grew by 15 percent to $2.13 billion from $1.85 billion year-on-year.
Looking ahead, Roku Inc. (NASDAQ:ROKU) said it expects to book $10 million in net income and $1.205 billion in revenues in the third quarter of the year, and $20 million in net income and $4.65 billion in revenues full year 2025.
9. Newell Brands Inc. (NASDAQ:NWL)
Newell Brands extended its losses for a fifth consecutive day on Friday, shedding another 15.15 percent to close at $4.76 apiece as investor sentiment was weighed down heavily by its pessimistic outlook and dismal performance for the first half of the year.
In an updated report, Newell Brands Inc. (NASDAQ:NWL) said net income in the first six months dwindled by 75 percent to only $9 million from the $36 million in the same period last year, as net sales decreased by 5 percent to $3.5 billion from $3.7 billion year-on-year.
In the second quarter alone, net income inched up by 2.2 percent to $46 million from $45 million in the same period last year, while net sales decreased by 4.8 percent to $1.9 billion from $2.03 billion year-on-year, reflecting a core sales decline, unfavorable foreign exchange, and business exits.
Looking ahead, Newell Brands Inc. (NASDAQ:NWL) updated its third-quarter and full-year 2025 outlook to reflect its estimates from the current tariff scenario.
Core and net sales in the current quarter are now expected to decline between 2-4 percent versus the 1-3 percent previously.
For the full year, core and net sales were pegged to decline between 2-3 percent year-on-year.
8. Avantor, Inc. (NYSE:AVTR)
Avantor dropped for a third consecutive day on Friday, shedding 15.48 percent to end at $11.36 apiece as investor sentiment was dented by a broader market pessimism and a dismal earnings performance in the second quarter of the year.
In its updated report, Avantor, Inc. (NYSE:AVTR) said net income during the period decreased by 30 percent to $64.7 million from the $92.9 million reported in the same period last year. Net sales dipped by 1 percent to $1.68 billion from $1.7 billion year-on-year, primarily due to a 3-percent negative impact from a recent M&A, which resulted in flat organic sales.
In the first half, net profit decreased by 15.7 percent to $129.2 million from $153.3 million year-on-year, while net sales ended at $3.26 billion, lower by 3.5 percent year-on-year.
In other news, Avantor, Inc. (NYSE:AVTR) announced that it is soon to be led by Emmanuel Ligner as its new president and chief executive officer, replacing Michael Stubblefield, who will step down from the post, as well as a director of the company.
7. Lumen Technologies, Inc. (NYSE:LUMN)
Lumen Technologies saw its share prices decline for a third straight day on Friday, slashing 16.63 percent to close at $3.71 apiece after a disappointing earnings performance in the second quarter of the year.
In its earnings release, Lumen Technologies, Inc. (NYSE:LUMN) said it widened its net loss by 1,767 percent to $915 million from the $49 million in the same period last year. Revenues decreased by 5 percent to $3.09 billion from $3.27 billion year-on-year.
According to the company, the wider net loss was primarily due to the refinancing of certain debt instruments and credit facilities during the past two quarters, among others.
In the first half, Lumen Technologies, Inc. (NYSE:LUMN) swung to a net loss of $1.1 billion from an $8 million net profit in the first six months of 2024, while revenues also declined by 4 percent to $6.27 billion from $6.56 billion.
Kate Johnson, Lumen Technologies, Inc.’s (NYSE:LUMN) president and CEO, said that the firm is currently building a stronger and more modern company.
“With the sale of our consumer fiber business, successful debt refinancing, and continued modernization gains, we’re laying our foundation for future revenue growth,” she noted.
6. Coinbase Global, Inc. (NASDAQ:COIN)
Coinbase Global fell by 16.7 percent on Friday to close at $314.69 apiece as investors sold off positions amid the broader market pessimism that heavily spilled over to cryptocurrency prices and crypto trading platforms.
Coinbase Global, Inc. (NASDAQ:COIN) dropped in line with Bitcoin prices, which, as of writing, were down by 1.79 percent at the $113,000 level.
In other developments, Coinbase Global, Inc. (NASDAQ:COIN) reported an impressive earnings performance in the second quarter of the year, which soared by 3,869 percent to $1.4 billion from only $36 million in the same period last year.
Net revenues also inched up by 2.9 percent to $1.42 billion from $1.38 billion year-on-year. However, total transaction revenue was notably lower by 2 percent at $764.3 million versus the $780.9 million year-on-year amid a muted trading during the second quarter as a result of a more cautious market environment.
5. EchoStar Corporation (NASDAQ:SATS)
EchoStar dropped its share prices by 17.37 percent on Friday to close at $26.93 apiece as investors soured on the company’s dismal earnings performance in the second quarter and first half of the year.
In an updated report, EchoStar Corporation (NASDAQ:SATS) said that net loss attributable to shareholders widened by 49 percent to $306 million from $205 million in the same period last year. Revenues declined by 5 percent to $3.7 billion from $3.9 billion year-on-year.
In the first half, net loss also increased by 62 percent to $508.8 million from the $312.97 million registered year-on-year. Revenues decreased by 4.77 percent to $7.59 billion from $7.97 billion.
In terms of business segment, Pay TV remained EchoStar Corporation’s (NASDAQ:SATS) largest revenue contributor, followed by the wireless segment, and then broadband and satellite services.
However, both Pay TV and broadband and satellite revenues posted notable declines in both the second quarter and the first half of the year.
Despite the downturn, EchoStar Corporation (NASDAQ:SATS) President and CEO Hamid Akhavan said that the company’s performance “was in line with our high performance expectations.”
4. Riot Platforms, Inc. (NASDAQ:RIOT)
Riot Platforms extended its losing streak to a sixth straight day on Friday, slashing 17.75 percent to close at $11.03 apiece as investors soured on the company’s disappointing first-half earnings performance and unloaded positions amid the broader market pessimism.
During the period, Riot Platforms, Inc. (NASDAQ:RIOT) remained at a net loss of $76.9 million, versus a $127 million net income in the same period last year, despite posting a $219-million net income in the second quarter, reversing an $84 million net loss in the same period last year.
Total revenues for the second quarter amounted to $153 million, marking a 118 percent jump from the $70 million registered in the same period a year ago.
On Friday, Riot Platforms, Inc. (NASDAQ:RIOT) also dropped alongside the prices in Bitcoin after President Donald Trump announced the imposition of tariffs on US imports.
As of this writing, the prices of Bitcoin were down by 1.79 percent at the $113,000 level.
3. Eastman Chemical Company (NYSE:EMN)
Eastman Chemical fell to a new low on Friday, extending a five-day losing streak, as investor sentiment was dented by a disappointing earnings performance and lower growth outlook for the rest of the year.
At intra-day trading, the company fell to its lowest price of $56.78 before slight buying pushed its shares higher to end the day just down by 19.03 percent at $58.79.
Based on its financial statement, Eastman Chemical Company (NYSE:EMN) dropped its attributable net income by 39 percent to $140 million from $230 million in the same period last year, as sales dipped by 3 percent to $2.29 billion from $2.36 billion year-on-year due to lower sales volume, dragged by weak primary demand in key end markets, including building and construction and automotive OEM production.
In the first half, attributable net income declined by 18 percent to $322 million from $395 million, while revenues decreased by 2 percent to $4.58 billion from $4.67 billion year-on-year.
Looking ahead, Eastman Chemical Company (NYSE:EMN) recognized that certain macroeconomic uncertainties will continue to impact its financials and operations negatively, thus expecting volumes to continue to decline due to trade disputes impact.
“We project third-quarter adjusted earnings per share to be around $1.25. We expect to generate a full-year operating cash flow of ~$1 billion as declines in cash earnings will be partially offset by a release of working capital. We are in a solid financial position in an industry that is going on four years of significant challenges,” said Eastman Chemical Company (NYSE:EMN) CEO Mark Costa.
2. Enovix Corporation (NASDAQ:ENVX)
Enovix fell for a fourth consecutive day on Friday, losing 20.11 percent to close at $10.7 apiece, as investors appeared to have been dampened by the broader market pessimism, selling off positions and shunning its improved earnings performance in the second quarter of the year.
In its financial statement, Enovix Corporation (NASDAQ:ENVX) said it narrowed its attributable net loss by 79 percent to $23.5 million from $115.9 million in the same period last year, as revenues climbed by 98 percent to $7.47 million from $3.77 million in the same period last year.
Looking ahead, Enovix Corporation (NASDAQ:ENVX) expects revenues to grow sequentially in the third quarter of the year, although it projects a slight increase in net operating loss.
In other news, Enovix Corporation (NASDAQ:ENVX) advised its warrant holders that its share price has already traded above the $10.5 price for nine consecutive days in a row, and that it may trigger an early expiration if the stock continues to trade above the said level for 20 consecutive days.
Warrant holders are advised to exercise their warrants before the early expiration, with their warrants now at a potential upside of $1.96 from the exercise price of $8.75 apiece.
1. Fluor Corporation (NYSE:FLR)
Fluor Corp. snapped a two-day winning streak on Friday, shedding 27.04 percent to close at $41.42 apiece as investors soured on its lower growth outlook for the rest of the year, coupled with a broader market pessimism.
In a statement, Fluor Corporation (NYSE:FLR) reduced its adjusted EBITDA guidance for full-year 2025 to $475-$525 million versus the $575-675 million previously.
Adjusted EPS was also pegged at $1.95-$2.15, lower than the $2.25-$2.75 projected previously.
In the second quarter of the year, attributable net earnings jumped by 1,355 percent to $2.46 billion from only $169 million in the same period last year. Total revenues dropped by 5.9 percent to $3.98 billion from $4.23 billion previously.
In the six-month period, attributable net income climbed by 873 percent to $2.2 billion from $228 million, while total revenues were flat at $7.9 billion.
“Unfortunately, our results for the quarter were impacted by three long-standing infrastructure projects and a shift in expected capital spending from some clients. We view this shift as temporary and believe that our long-term strategy centered around disciplined project delivery in growth markets will continue to benefit our clients and our shareholders,” said Fluor Corporation (NYSE:FLR) CEO Jim Breuer.
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