Ten stocks were sold down on Friday, defying a wider market optimism, as investors were disheartened by a flurry of negative corporate developments and dismal earnings performance.
Meanwhile, the Dow Jones was up by 0.47 percent, the S&P 500 increased by 0.40 percent, while the tech-heavy Nasdaq grew by 0.24 percent.
In this article, we name Friday’s 10 worst performers and detail the reasons behind their drop.
To compile the list, we focused exclusively on stocks with at least $2 billion in market capitalization and over 5 million shares in trading volume.
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10. Flagstar Financial Inc. (NYSE:FLG)
Flagstar Financial dropped its share prices by 5.48 percent on Friday to finish at $11.39 apiece as investor sentiment was dampened by news that it was merging with its banking subsidiary, but with the latter the surviving entity.
In a statement, Flagstar Financial Inc. (NYSE:FLG) said that its board of directors approved on Thursday the company’s proposed merger with Flagstar Bank, N.A. However, it will continue to trade on the New York Stock Exchange under the same ticker symbol.
Flagstar Financial Inc. (NYSE:FLG) said that the reorganization was aimed at further reducing costs, simplifying organizational structure, streamlining managerial, operational, and administrative functions throughout the bank, eliminating redundant corporate activities and duplicative supervision and regulation.
The reorganization is subject to both regulatory and shareholder approval.
In other news, Flagstar Financial Inc. (NYSE:FLG) said it narrowed its net loss attributable to shareholders for the first half of the year by 72 percent to $186 million from $668 million in the same period last year.
Net interest income after provision for credit losses increased by 44 percent to $686 million from $476 million year-on-year.
Additionally, Flagstar Financial Inc. (NYSE:FLG) announced the distribution of quarterly cash dividends amounting to $0.01 for every common share to stockholders as of September 7. The dividends are payable on September 17.
9. SharpLink Gaming, Inc. (NASDAQ:SBET)
SharpLink Gaming extended its losing streak to a third consecutive day on Friday, shedding 5.7 percent to close at $21.99 apiece as investors turned cautious while in a wait-and-see mode following the appointment of a BlackRock executive as the company’s co-CEO.
In a statement, SharpLink Gaming, Inc. (NASDAQ:SBET) welcomed Joseph Chalom as its new co-CEO effective on Thursday, July 24.
Chalom boasts of 20 years of experience in digital finance innovations at BlackRock, including the launch of the iShares Ethereum Trust (ETHA), the largest Ethereum exchange-traded product with over $10 billion in current assets.
Rob Phythian, SharpLink Gaming, Inc.’s (NASDAQ:SBET) current CEO, will transition to the role of president over the next quarter and remain a board member.
The drop in shares of SharpLink Gaming, Inc. (NASDAQ:SBET) may have been influenced by a cautious market sentiment until the company elaborates on its plans following the appointment.
8. Teck Resources Limited (NYSE:TECK)
Teck Resources dropped its share prices by 6.04 percent on Friday, the third day, to close at $33 apiece as investor sentiment was dampened by a lower revised outlook for the rest of the year.
In a statement following the release of its second quarter earnings performance, Teck Resources Limited (NYSE:TECK) reduced its production outlook for copper and molybdenum amid challenges on tailings management facility (TMF) development work, which largely impacts its production performance.
For the rest of the year, Teck Resources Limited (NYSE:TECK) said that annual copper production guidance was lowered to 470,000-525,000 tons from 490,000-565,000 tons previously.
Meanwhile, annual molybdenum production was lowered markedly to 3,800-5,400 from 5,100-7,400 tons prior.
In the second quarter of the year, Teck Resources Limited (NYSE:TECK) expanded its net income from continuing operations attributable to shareholders by 881 percent to CA$206 million from CA$21 million in the same period last year.
Revenues increased by 12 percent to CA$2.02 billion from CA$1.8 billion year-on-year.
7. Healthpeak Properties, Inc. (NYSE:DOC)
Healthpeak Properties declined by 6.73 percent on Friday to close at $17.6 apiece following a steep drop in its earnings performance in the second quarter of the year.
In its earnings release, Healthpeak Properties, Inc. (NYSE:DOC) said net income attributable to shareholders during the period fell by 78 percent to $31.5 million from $145.8 million in the same period last year, dragging its first half figures by 51 percent to $73.9 million from $152 million year-on-year.
Revenues for the quarter ended flat at $694 million, while revenues for the first half dropped by 7 percent to $1.397 billion from $1.3 billion year-on-year.
Following the performance, Healthpeak Properties, Inc. (NYSE:DOC) lowered its growth guidance for full-year 2025, with diluted earnings per common share now pegged at 25-31 cents from 30-36 cents previously.
On July 31, shareholders as of July 18 will receive dividends worth $0.10167 for each common share held.
Another dividend with the same amount will be paid on August 29, for shareholders as of the August 18 record.
6. Intel Corporation (NASDAQ:INTC)
Intel Corp. dropped its share prices by 8.53 percent on Friday to close at $20.7 apiece as investor sentiment was weighed down by its dismal earnings performance, workforce reduction, and termination of plans to build new chip facilities in Europe.
In a statement, Intel Corporation (NASDAQ:INTC) said attributable net loss widened by 81 percent to $2.1 billion from $1.6 billion in the same period last year, with revenues ending flat at $12.9 billion.
Additionally, the company announced plans to cut its workforce further by 15 percent and terminate plans to build new chip facilities in Europe as part of its corporate restructuring initiatives to claw back to profitability.
Intel Corporation (NASDAQ:INTC), which was recently led by its new CEO, Lip-Bu Tan, has turned aggressive on its corporate restructuring with layoffs, cutting stakes in companies it previously invested in, and rejecting new projects generating less than 50 percent of gross margin.
5. AST SpaceMobile, Inc. (NASDAQ:ASTS)
AST SpaceMobile dropped its share prices by 9.53 percent on Friday to close at $54.33 apiece as investors soured on its plans to raise $500 million through convertible senior notes.
In a statement, AST SpaceMobile, Inc. (NASDAQ:ASTS) said that the notes will carry a 2.375 percent yield payable semiannually in arrears on April 15 and October 15 of each year, beginning on April 15, 2026. The notes are set to mature on October 15, 2032, unless earlier converted, redeemed, or repurchased.
If a conversion is to be exercised, the notes will be converted to the company’s Class A common shares at a price of $72.07 apiece.
The price represents a premium of approximately 20 percent to the last reported sale price of AST SpaceMobile’s Class A common stock on July 24, 2025.
AST SpaceMobile, Inc. (NASDAQ:ASTS) also granted initial buyers of the notes to purchase up to $75 million of notes within 13 days from the start of the offer.
AST SpaceMobile, Inc. (NASDAQ:ASTS) said it plans to use the proceeds for general corporate purposes and pay the cost of the capped call transactions.
4. Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)
Pinnacle fell back below the $100 territory on Friday after six straight days of losses, as investors soured on its planned $8.6-billion all-stock merger with Synovus Financial Corp.
In Friday’s session alone, Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) slashed 12.10 percent of its share price to finish at $91.56 apiece.
Under the transaction, shares of Synovus and Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share.
Additionally, Synovus Chairman, CEO, and President Kevin Blair will serve as the combined entity’s president and CEO, while Terry Turner, president and CEO of Pinnacle, will serve as the chairman of the combined entity’s board of directors.
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) said that the transaction is expected to close in the first quarter of 2026, subject to regulatory and shareholders’ approvals.
3. Lufax Holding Ltd (NYSE:LU)
Lufax Holding fell by 12.24 percent on Friday to close at $2.94 apiece as investors sold off positions while waiting for fresh catalysts to boost buying appetite.
In recent news, Lufax Holding Ltd (NYSE:LU) entered into an agreement with Shenzhen China Merchants Ping An Asset Management for the sale of 469 million yuan worth of non-performing debts for a consideration of 36.44 million yuan. The transaction was made through Lufax Holding Ltd’s (NYSE:LU) subsidiary Ping An Consumer Finance.
The transaction will effectively rid Lufax Holding Ltd (NYSE:LU) of its hefty non-performing loans and help reduce its credit risk.
Lufax Holding Ltd. (NYSE:LU) is a dual-listed financial services company based in China, whose trading remains suspended on the Hong Kong Stock Exchange pending regulatory issues.
2. Synovus Financial Corp. (NYSE:SNV)
Synovus Financial fell by 12.54 percent on Friday to close at $49.61 apiece, its third consecutive day, as investors turned cautious over its planned $8.6-billion all-stock merger with Pinnacle Financial Partners, Inc. (NASDAQ:PNFP).
Under the transaction, shares of Synovus and Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share.
Synovus Financial Corp. (NYSE:SNV) Chairman, CEO and President Kevin Blair will serve as the combined entity’s president and CEO; while Terry Turner, president and CEO of Pinnacle, will serve as the chairman of the combined entity’s board of directors.
The companies said they expect the transaction to close in the first quarter of 2026, subject to regulatory and both companies’ shareholders’ approvals.
1. Charter Communications, Inc. (NASDAQ:CHTR)
Charter Communications fell by 18.49 percent on Friday to close at $309.75 apiece as investors turned cautious amid a mixed earnings performance and the significant drop in its broadband users in the second quarter of the year.
In a statement, Charter Communications, Inc. (NASDAQ:CHTR) said Internet customers continued to decline quarter-on-quarter, with last quarter’s customer count dropping by another 117,000 to 29.9 million from 30.02 million as of March 2025.
However, second quarter net income attributable to shareholders rose by 5.7 percent to $1.3 billion from $1.23 billion year-on-year, due to lower interest expense and higher Adjusted EBITDA.
Net income for the first half increased by 7.7 percent to $2.5 billion from $2.3 billion year-on-year.
Revenues, on the other hand, finished flat for both the second quarter and first semester of the year, ending at $13.7 billion and $27 billion, respectively.
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