Ten companies fell sharply on Thursday, amid a series of company-specific developments, including lackluster earnings, profit-taking, and fundraising programs, among others.
Meanwhile, Wall Street’s main indices finished mixed, with the Dow Jones the only loser, down 0.07 percent. The S&P 500 and the tech-heavy Nasdaq grew 0.11 percent and 0.22 percent, respectively.
In this article, we spotlight the 10 worst-performers during the previous trading session and break down the reasons behind their drop.
To come up with the list, we focused exclusively on stocks with a $2 billion market capitalization and 5 million shares in trading volume.
Photo by Tima Miroshnichenko on Pexels
10. Micron Technology Inc. (NASDAQ:MU)
Micron Technology dropped for a third straight session on Thursday, shedding 3.21 percent to close at $226.65 apiece, as investors digested plans to officially drop its consumer memory brand, Crucial, after 29 years in business.
In a statement during the day, Micron Technology Inc. (NASDAQ:MU) said that the divestment was in line with plans to shift its focus to the faster-growing enterprise and commercial segments amid the rapidly expanding artificial intelligence industry.
In line with the decision, shipments for all Crucial-branded consumer products would only be available until the end of February 2026. However, Micron Technology Inc. (NASDAQ:MU) assured its customers that it would continue providing warranty services and support to the brand’s customers.
“The AI-driven growth in the data center has led to a surge in demand for memory and storage. Micron has made the difficult decision to exit the Crucial consumer business in order to improve supply and support for our larger, strategic customers in faster-growing segments,” said Micron Technology Inc. (NASDAQ:MU) Chief Business Officer Sumit Sadana.
In other developments, the stock earned a higher price target of $270 from Mizuho Securities, versus $265 previously, while maintaining an “outperform” rating.
9. Macy’s Inc. (NYSE:M)
Macy’s extended its losing streak to a third straight day on Thursday, shedding 0.62 percent to close at $22.32 apiece as investors took path from its earnings performance in the third quarter of the year.
At intra-day trading, the stock dropped by as much as 3.6 percent.
In an updated report, Macy’s Inc. (NYSE:M) said net income dwindled by 60.7 percent to $11 million from $28 million in the same period last year, while net sales and total revenues ended flat at $4.7 billion and $4.9 billion, respectively.
Net sales, however, exceeded the company’s previous guidance range of $4.5 billion to $4.6 billion.
It can be recalled that Macy’s Inc. (NYSE:M) announced earlier plans to close 150 underperforming stores by the end of 2026. Of the total, 50 were planned for this year.
Looking ahead, the company raised its full-year guidance for full-year 2025 to a range of $21.475 billion to $21.625 billion from its previous outlook of $21.15 billion to $21.45 billion.
Adjusted EBITDA is also targeted to grow higher at a range of 7.8 percent to 8 percent, versus 7.4 percent to 7.9 percent previously. Adjusted EPS is pegged at $2 to $2.20 versus $1.70 to $2.05 prior.
For the fourth quarter alone, net sales are projected at $7.35 billion to $7.50 billion, while adjusted EPS is expected at $1.35 to $1.55.
Following the results, Macy’s Inc. (NYSE:M) earned a higher price target of $21 from TD Cowen, versus $17 previously, while maintaining a “hold” recommendation on the stock.
8. Hecla Mining Company (NYSE:HL)
Hecla Mining extended its losses for a second day on Thursday, shedding 3.11 percent to close at $16.82 apiece, mirroring the decline in silver prices while digesting a hedge fund’s lukewarm reception for its stock.
At intra-day trading, the stock dropped as much as 4.15 percent.
As of writing, spot prices of silver were down by 2.49 percent at $57.0298 per troy ounce, as investors appeared to have taken profits following last week’s surge.
In other developments, Hecla Mining Company (NYSE:HL) was likewise dampened by comments from former hedge fund manager and Mad Money host Jim Cramer, saying he does not think the company is a high-quality mine.
Cramer instead recommended shares of Pan American Silver Corp. and Agnico Eagle for gold.
“Those are the two. Not going away,” he noted.
Earlier this week, Hecla Mining Company (NYSE:HL) said that its subsidiary, Klondex Aurora Mine Inc., officially secured the green light of the US Forest Service to kick off its Polaris Exploration Project in Mineral County, Nevada. Exploration activities are set to commence in 2026.
“We are excited to begin our 2026 exploration program at Aurora, which produced some of the highest-grade gold and silver ore in Walker Lane during its historic operations. We appreciate the thorough review conducted by the USFS and the collaboration with local stakeholders throughout this process,” the company said.
7. The Kroger Co. (NYSE:KR)
Kroger fell for a third day on Thursday, slashing 4.62 percent to close at $63.14 apiece, as investor sentiment was dampened by a steep net loss and lower sales guidance for the full year. At intra-day trade, shares were down as much as 7.9 percent.
In an updated report, The Kroger Co. (NYSE:KR) said that it swung to a net loss of $1.32 billion from a $618 million net income in the same period last year.
Sales, which included $387 million from Kroger Specialty Pharmacy sales, finished at $33.8 billion, or flat from $33.6 billion year-on-year. Excluding fuel and Kroger Specialty Pharmacy, sales increased by 2.6 percent from the same comparable period.
Looking ahead, The Kroger Co. (NYSE:KR) provided a weak outlook for key growth metrics for the rest of the year, with identical sales without fuel now projected to grow by 2.8 percent to 3 percent, versus the 2.7 percent to 3.4 percent previously.
Guidance for operating profit was maintained at a range of $4.8 billion to $4.9 billion, while earnings per share slightly inched up to a range of $4.75 to $4.80, versus at least $4.70 previously.
The Kroger Co. (NYSE:KR) is one of the leading supermarket and retail operators in the US.
6. First Majestic Silver Corp. (NYSE:AG)
First Majestic declined by 4.27 percent on Thursday to close at $15.02 apiece as investor sentiment was dampened by plans to raise up to $350 million in fresh funds from the issuance of convertible notes, while also digesting the drop in spot prices of silver during the day.
During intra-day trading, the company dropped by as much as 5.4 percent.
As of writing, spot prices of silver were down by 2.49 percent at $57.0298 per troy ounce, as investors appeared to have taken profits following last week’s surge.
In other developments, First Majestic Silver Corp. (NYSE:AG) officially kicked off the issuance of convertible senior notes due 2031 with an aggregate principal amount of $300 million and an overallotment option of up to $50 million.
Under the terms, the notes will carry a cash interest of 0.125 percent per annum, payable semi-annually. Before the maturity date, noteholders will have the option to convert their notes.
First Majestic Silver Corp. (NYSE:AG) said that every $1,000 note will be convertible to 44.7227 common shares, equivalent to an initial conversion price of $22.36 apiece, or a premium of approximately 42.50 percent over its closing price of $15.69.
The offer is expected to close on Monday, December 8, subject to customary closing conditions.
5. LyondellBasell Industries NV (NYSE:LYB)
LyondellBasell extended its losing streak to a fourth straight day on Thursday, losing 6.24 percent to close at $43.16 apiece as investors unloaded portfolios following the ex-dividend and record dates to receive its next quarterly dividends.
At intra-day trade, the stock fell by as much as 6.7 percent.
On Monday, December 8, shareholders of LyondellBasell Industries NV (NYSE:LYB) as of December 1 record would be able to receive $1.37 per share of dividends.
The dividends followed the results of its earnings performance in the third quarter of the year. During the period, LyondellBasell Industries NV (NYSE:LYB) swung to a net loss of $890 million from a $573 million net income in the same period last year, primarily dragged by $1.2 billion of identified items such as non-cash asset write-downs, costs incurred for transactions, the Cash Improvement Plan, and discontinued operations.
Sales and other operating revenues also declined by 10 percent to $7.727 billion from $8.604 billion in the same period last year.
“LYB continues to navigate a challenging market environment while remaining focused on delivering long-term value,” LyondellBasell Industries NV (NYSE:LYB) CEO Peter Vanacker said.
“Our Cash Improvement Plan is on track to achieve our $600 million target in 2025 and a minimum of $1.1 billion by the end of 2026, by reducing fixed costs, managing working capital, and optimizing capital investment to strengthen free cash flow,” he added.
4. Intel Corporation (NASDAQ:INTC)
Intel snapped a two-day rally on Thursday, shedding 7.45 percent to close at $40.50 apiece as investors resorted to profit-taking to take advantage of the previous day’s record high.
At intra-day trading, the stock fell by as much as 8.3 percent.
Earlier this week, investors loaded on shares of Intel Corporation (NASDAQ:INTC) amid brewing reports that it may supply chips anew to technology giant Apple Inc.
TF International Securities analyst Ming-Chi Kuo said in a market report that Apple Inc. could tap Intel Corp. (NASDAQ:INTC) to supply its lowest-end M-series chips in the next two years.
The two firms previously worked on chips used on MacBook laptops and desktops before Apple Inc. switched to its own design, manufactured by Taiwan Semiconductor Manufacturing Company.
Kuo said that the latest industry surveys indicate that “visibility on Intel Corporation (NASDAQ:INTC) becoming an advanced-node supplier to Apple has recently improved significantly.”
Intel Corp. (NASDAQ:INTC) has been luring Apple Inc. to invest in the company since September this year, as part of its turnaround and revival efforts.
and went in a wait-and-see mode for more catalysts to boost buying.
Intel Corporation (NASDAQ:INTC) is set to participate in the Barclays Global Technology Conference on Wednesday, December 10, where investors will closely watch out for cues on business developments and deals with other technology giants.
3. Lumen Technologies, Inc. (NYSE:LUMN)
Lumen Technologies snapped an eight-day winning streak on Thursday, slashing 8.31 percent to close at $8.77 apiece as investors resorted to profit-taking.
The previous days’ surge was bolstered by a combination of product launch and overall market optimism ahead of the last Federal Open Market Committee meeting for the year, where economists are placing bets on a 25-basis point rate cut.
Also on Tuesday, Lumen Technologies, Inc. (NYSE:LUMN) launched a new advanced cybersecurity product aimed at detecting and blocking threats before they cause harm.
Called the Lumen Defender Managed Rules for AWS Network Firewall, the product enables action before a breach activity occurs and features high-confidence signals that minimize false positives and drive focused responses. It also provides actionable insights about indicators of compromise, helping security teams understand threat type, severity, and confidence.
“As cyber threats grow more automated and distributed, organizations need visibility that reaches beyond their own perimeter,” said Martin Nystrom, Vice President of Black Lotus Labs and Product Security at Lumen Technologies, Inc. (NYSE:LUMN).
“Because Lumen operates one of the world’s most deeply connected global networks, our Defender threat intelligence delivers an upstream view into malicious infrastructure before it targets customers. By integrating this intelligence directly into AWS Network Firewall, we enable earlier detection and disruption of botnets, malware, and nation-state activity—helping organizations strengthen their defenses at the network edge,” he noted.
2. Snowflake Inc. (NYSE:SNOW)
Snowflake snapped a four-day winning streak on Thursday, losing 11.41 percent to close at $234.77 apiece as investors resorted to profit-taking while already pricing in a strong earnings performance in the third quarter of fiscal year 2026.
In an updated report on Wednesday, Snowflake Inc. (NYSE:SNOW) said that it narrowed its net loss by 9.3 percent to $293.9 million from $324.2 million in the same period last year.
Revenues, on the other hand, surged by 29 percent to $1.2 billion from $942 million year-on-year, primarily driven by a 29 percent growth in product revenues.
“Snowflake is the cornerstone for our customers’ data and AI strategies, driving real business impact at scale,” said Snowflake Inc. (NYSE:SNOW) CEO Sridhar Ramaswamy.
“Snowflake Intelligence, our enterprise AI agent, saw the fastest adoption ramp in Snowflake history and is transforming how businesses interact with their data, delivering real-time, actionable intelligence. Combined with our strategic partnerships with the world’s leading AI model providers, clouds, and application platforms, Snowflake is supercharging the entire data lifecycle with AI-driven capabilities,” he added.
Encouraged by the results, Snowflake Inc. (NYSE:SNOW) said it expects the product revenues to jump by 27 percent to a range of $1.195 billion to $1.2 billion in the fourth quarter of the year.
1. Symbotic Inc. (NASDAQ:SYM)
Symbotic fell sharply on Thursday, shedding 17.40 percent to close at $60.48 apiece as investor sentiment was dampened by plans to raise funds from the issuance of 10 million new shares.
In a statement, Symbotic Inc. (NASDAQ:SYM) said that it would sell 6.5 million Class A shares, while SoftBank Group Corp. would dispose of 3.5 million of the shares it owns.
The official price has yet to be divulged, albeit based on its closing price, it could rake in more than $500 million from the offer.
Symbotic Inc. (NASDAQ:SYM) said it would only raise funds from the 6.5 million shares, with net proceeds expected to be used for general corporate purposes.
SoftBank Group, on the other hand, will take all earnings from the 3.5 million shares.
In line with the offer, Symbotic Inc. (NASDAQ:SYM) would grant its underwriters a 30-day option to purchase up to an additional 1.5 million shares at the public offering price.
In other developments, the company on Tuesday earned a “sell” recommendation from Goldman Sachs, alongside a new price target of $47.
According to Goldman, the revision was based on its concerns for Symbotic Inc.’s (NASDAQ:SYM) customer base and cash flow projects.
Goldman said that while Symbotic Inc.’s (NASDAQ:SYM) technology was well received by retailing giant Walmart, with the latter securing systems for all 42 of its regional distribution centers, its number of independent customers has become limited in the past few years.
While we acknowledge the potential of SYM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SYM and that has 100x upside potential, check out our report about the cheapest AI stock.
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