Ten stocks ended on a bloodbath on Tuesday, recording double-digit declines in their share prices amid a combination of dismal earnings and a lower growth outlook, among others.
The companies dropped in line with Wall Street’s main indices, which all finished in the red during the session. The Dow Jones was down by 0.46 percent, the S&P 500 fell 0.30 percent, and the tech-heavy Nasdaq declined by 0.38 percent.
In this article, let us explore the names of the 10 worst performers on Tuesday alongside the reasons behind their decline.
To compile the list, we focused on stocks with more than $2 billion in capitalization and 5 million shares in trading volume.
A man in long sleeves looking at stock market data. Photo by Tima Miroshnichenko on Pexels
10. Brown & Brown, Inc. (NYSE:BRO)
Brown & Brown fell to a new all-time low on Tuesday, as investors sold off positions following a dismal earnings performance in the second quarter of the year.
At intra-day trading, Brown & Brown, Inc. (NYSE:BRO) dropped to its lowest 52-week price of $91.55 before slight buying pushed the company’s shares higher to end the day just down by 10.4 percent at $91.91 apiece.
In a statement, Brown & Brown, Inc. (NYSE:BRO) said attributable net income declined by 10 percent to $231 million from $257 million in the same period last year, despite revenues increasing by 9 percent to $1.285 billion from $1.178 billion year-on-year. Total expenses increased by 17 percent to $974 million from $832 million.
In the first half, attributable net income inched up by 2.4 percent to $563 million from $550 million year-on-year, while revenues grew by 10 percent to $2.689 billion from $2.435 billion. Total expenses also increased by 13 percent to $1.951 billion from $1.723 billion.
Commenting on the performance, Brown & Brown, Inc. (NYSE:BRO) President and CEO J. Powell Brown said that he was pleased with the company’s earnings during the quarter, “and have good momentum as we head into the second half of the year.”
9. United Parcel Service, Inc. (NYSE:UPS)
United Parcel Service extended its losing streak to a third consecutive day on Tuesday, shedding 10.57 percent to close at $90.84 apiece as investor sentiment was dampened by a dismal earnings performance and cautious business outlook.
In its financial statement, United Parcel Service, Inc. (NYSE:UPS) said that net income dropped by 8.9 percent to $1.283 billion from $1.409 billion in the same period last year. Consolidated revenues dipped by 2.7 percent to $21.2 billion from $21.8 billion year-on-year.
For full year 2025, United Parcel Service, Inc. (NYSE:UPS) posted a more cautious stance, failing to provide revenue and operating profit guidance amid macroeconomic uncertainties.
However, United Parcel Service, Inc. (NYSE:UPS) hinted at a $1-billion share buyback program and paying as much as $5.5 billion in cash dividends to its shareholders. Distribution remains subject to the approval of its board of directors.
“Our second quarter results reflect both the complexity of the landscape and the strength of our execution. We are making meaningful progress on our strategic initiatives, and we’re confident these actions are positioning the company for stronger long-term financial performance and enhanced competitive advantage,” said United Parcel Service, Inc. (NYSE:UPS) CEO Carol Tomé.
8. Carrier Global Corporation (NYSE:CARR)
Carrier Global declined by 10.61 percent on Tuesday to close at $71.67 apiece as investors soured on the company’s dismal earnings performance in the second quarter of the year.
During the period, Carrier Global Corporation (NYSE:CARR) said net income attributable to shareholders fell by 75 percent to $591 million from $2.337 billion in the same period last year, while total net sales inched up by 3 percent to $6.113 billion from $5.934 billion in the same period last year.
In the first six months of the year, net income attributable to shareholders declined by 61 percent to $1 billion from $2.6 billion year-on-year. Total net sales ended flat at $11.3 billion.
Despite the figures, Carrier Global Corporation (NYSE:CARR) maintained its full-year guidance of around $23 billion in sales, adjusted operating margin of 16.5-17 percent, as well as adjusted earnings per share of $3 to $3.10, or a year-on-year growth of 17-21 percent.
7. TMC the metals company Inc. (NASDAQ:TMC)
TMC fell for a third day on Tuesday, losing 11.28 percent to end at $6.61 apiece, as investors turned even more cautious about its deep-sea mining intentions in the international waters.
At the International Seabed Authority (ISA) assembly in Jamaica last week, Palau President Surangel Whipps Jr. criticized TMC the metals company Inc. (NASDAQ:TMC) for lobbying mining in the international waters, saying that it has promised riches to small island developing states like mine and huge returns to investors, but which have “proven false.”
It can be learned that TMC the metals company Inc. (NASDAQ:TMC), through its US subsidiary, filed its intention to engage in deep-sea mining beyond US waters immediately after President Donald Trump issued an order to ramp up deep-sea mining.
Being originally a Canadian company, and with Canada being a member of the ISA, member nations claimed that TMC the metals company Inc.’s (NASDAQ:TMC) was bypassing the ISA, not to mention its dual approach, given its retention of ISA-issued licenses.
In its defense, TMC the metals company Inc. (NASDAQ:TMC) issued a statement earlier this year saying 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.
6. Spotify Technology S.A. (NYSE:SPOT)
Spotify Technology snapped a three-day winning streak on Tuesday, shedding 11.55 percent to close at $620.01 apiece as investors sold off positions following a disappointing earnings performance in the first half of the year.
In a statement, Spotify Technology S.A. (NYSE:SPOT) said it swung to an attributable net loss of 86 million euros from a net income of 274 million euros in the same period last year, despite revenues increasing by 10 percent to 4.19 billion euros from 3.8 billion euros year-on-year.
Heading into the third quarter, Spotify Technology S.A. (NYSE:SPOT) expects revenues to end at 4.2 billion euros, assuming a 490-basis point headwind to year-on-year growth due to foreign exchange movements.
However, it expects total premium subscribers to increase by 5 million to end at 281 million.
“People come to Spotify and they stay on Spotify. By constantly evolving, we create more and more value for the almost 700 million people using our platform,” said Spotify Technology S.A. (NYSE:SPOT) founder and CEO Daniel Ek. “This value not only benefits users but it’s attracting more people to streaming and as a result, it’s also boosted the industries of music, podcasts, and audiobooks.”
5. Webull Corp. (NASDAQ:BULL)
Webull declined by 12.91 percent on Tuesday to close at $13.69 apiece as the stock appears to be in a correction phase following last week’s surge.
For four days in a row, shares of Webull Corp. (NASDAQ:BULL) were on a decline after touching a one-month high of $17.91, with investors appearing to have taken profits.
In recent news, Webull Corp. (NASDAQ:BULL) sealed a deal with Sharesight, an online portfolio tracking services provider, for the syncing of trades across Australian, US, Hong Kong, and Chinese financial markets.
Through a Sharesight premium subscription on the Webull platform, Webull Corp.’s (NASDAQ:BULL) customers will now be able to see real-time information about key performance metrics, dividend payments, franking credits and tax obligations.
“This partnership is made for investors who are serious about their portfolio. By working with Sharesight, we’re giving Webull users the clarity and control they need to stay on top of both performance and tax; no spreadsheets needed,” says Rob Talevski, CEO of Webull Securities Australia.
Meanwhile, Webull Corp. (NASDAQ:BULL) said that it was scheduled to announce the results of its second quarter earnings performance after market close on August 28.
4. Whirlpool Corporation (NYSE:WHR)
Whirlpool Corp. fell by 13.43 percent to close at $84.76 apiece as investor sentiment was dampened by its dismal earnings performance in the second quarter of the year.
In a statement, Whirlpool Corporation (NYSE:WHR) said attributable net income fell by 70.1 percent to $65 million from $219 million in the same period last year, while net sales decreased by 5.4 percent to $3.77 billion from $3.99 billion year-on-year.
“As expected, the second quarter continued to be impacted by competitors’ stockpiling Asian imports into the US. Despite this, we are well-positioned in North America with a robust pipeline of new products, the industry’s leading US manufacturing footprint, and favorable housing demand fundamentals,” said Whirlpool Corporation (NYSE:WHR) Chairman and CEO Marc Bitzer.
“We are confident in our long-term strategy and believe that evolving tariff policies will ultimately support domestic manufacturers,” he noted.
For full-year 2025, Whirlpool Corporation (NYSE:WHR) expects soft demand to continue, with net sales projected to drop by 4.8 percent to $15.8 billion from $16.6 billion in 2024.
3. QuantumScape Corporation (NYSE:QS)
QuantumScape extended its losing streak to a fifth consecutive day on Tuesday, slashing 15.48 percent to close at $9.28 apiece as investors continued to unload positions following an $11.6-million insider selling transaction.
On Friday, QuantumScape Corporation (NYSE:QS) co-founder and Chief Scientific Advisor Fritz Prinz sold off 1 million shares in the company at an average price of $11.6175 apiece.
The disposition of shares effectively dropped Prinz’s ownership in the company by 85 percent to just over 161,343 shares, or about $1.87 million.
Investors typically take insider selling in a negative light especially without any reason to justify the sale, and given the hefty drop in their remaining stake.
In its latest earnings release, QuantumScape Corporation (NYSE:QS) said it narrowed its net loss attributable to shareholders by 6.8 percent to $114.7 million from $123 million in the same period last year. Net loss for the first semester of the year also shrank by 6 percent to $229 million from $243.6 million year-on-year.
Loss from operations came in at $123 million during the quarter, lower by 8 percent than the $134 million in the same period last year. This put its first-half loss from operations down by 7 percent to $247 million from $266 million year-on-year.
2. Exelixis, Inc. (NASDAQ:EXEL)
Exelixis nosedived by 16.78 percent on Tuesday to close at $36.94 apiece as investors took path from a dismal earnings performance in the second quarter of the year.
In its earnings release, Exelixis, Inc. (NASDAQ:EXEL) said net income during the period dropped by 18 percent to $185 million from $226 million in the same period last year.
Revenues, on the other hand, dropped by 10.8 percent to $568 million from $637 million year-on-year.
For the full-year period, Exelixis, Inc. (NASDAQ:EXEL) expects total revenues to end between $2.25 billion and $2.35 billion, while net product revenues are projected to settle at a range of $2.05 billion to $2.15 billion.
Commenting on the performance, Exelixis, Inc. (NASDAQ:EXEL) said that the company “continued to execute on our corporate objectives in the second quarter of 2025, delivering on key commercial, development, and pipeline milestones.”
1. Novo Nordisk A/S (NYSE:NVO)
Novo Nordisk fell by 21.83 percent on Tuesday to end at $53.94 apiece as investors unloaded positions following the company’s pessimistic outlook for the rest of the year and the naming of a new chief executive.
In a statement, 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 who will replace ousted CEO Lars Fruergaard Jørgensen.
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