Here’s Why These Four Stocks Fell Like Rocks Today

Werner Enterprises, Inc. (NASDAQ:WERN) is off by 4.6% in afternoon trading after the logistics company reported third quarter earnings of $0.44 per share on revenues of $534.5 million, beating earnings estimates by $0.01 per share but missing revenue expectations by $14.81 million. Average revenues per-tractor per-week, net of fuel surcharge rose by 2.1% year-over-year while average-mile-per-truck declined by 0.7% year-over-year. The driver recruiting market remains challenging, as there is a shortage of qualified drivers given the U.S economy is nearing full employment. The shortage is both an opportunity and a threat. The shortage constrains available truck supply, which decreases competition, but at the same time increases the company’s expenses, which decreases profits. Shares trade at a reasonable 15-times forward earnings.

Hedge funds were mixed on Werner Enterprises, Inc. (NASDAQ:WERN) in the time period from April 1 to June 30. Although the number of funds long Werner decreased to 17 from 20, the total value of their holdings in the stock increased to $96.65 million from $83.82 million.

Amsurg Corp (NASDAQ:AMSG), which operates ambulatory surgery centers, is off by 9.45% in late-day trading because hospital operator Community Health Systems (NYSE:CYH) released weak preliminary third quarter data due to weak volumes and lower-than-expected sales caused by a deterioration in revenue payer mix. For the quarter, Community Health Systems (NYSE:CYH) expects to realize total revenues of $4.8 billion, adjusted EBITDA of $661 million, and EPS from continuing operations of $0.56. Analysts had been expecting$0.88 in EPS on revenues of $4.99 billion. Same-store admissions declined by 2.1% year-over-year, while same-store net revenue per adjusted admission rose by 1% year-over-year. Because the same fundamental factors affect health service firms across the industry, investors fear Amsurg Corp (NASDAQ:AMSG)’s results will be soft as well.

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