Ten stocks kicked off the trading week, booking hefty losses and defying a wider market rally, primarily due to company-specific developments and the ceasefire between Israel and Iran.
In this list, we highlight Monday’s 10 worst-performing stocks—notably dominated by energy companies—and explore the reasons behind their decline.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million in trading volume.
10. Amgen Inc. (NASDAQ:AMGN)
Amgen Inc. extended its losing streak to a fourth straight day on Monday, dropping 5.84 percent to close at $272.44 apiece as investors sold off positions despite positive results from its weight loss drug trial, after Novo Nordisk—maker of the blockbuster Wegovy and Ozempic—progressed in its second obesity drug trial.
In a statement on Monday, Amgen Inc. (NASDAQ:AMGN) announced that its phase 2 study of its weight loss drug candidate, MariTide, demonstrated up to 20 percent average weight loss in people living with obesity without Type 2 Diabetes (T2D), and up to 17 percent for people living with obesity with T2D.
However, investors seemed unimpressed, following Novo Nordisk’s announcement over the weekend that its new obesity drug candidate, Amycretin, has progressed to a phase 3 trial after demonstrating 24.3 percent weight loss, higher than Amgen Inc.’s (NASDAQ:AMGN).
Additionally, investor sentiment was dampened by an announcement that Amgen Inc.’s (NASDAQ:AMGN) MariTide dosing should be less frequent to improve adherence and long-term weight control.
9. Schlumberger Limited (NYSE:SLB)
Schlumberger dropped for a third consecutive day on Monday, losing 5.89 percent to close at $33.73 apiece following stabilizing oil prices, thanks to the ceasefire between Israel and Iran.
In a social media post on Monday, President Donald Trump announced that the two Middle Eastern countries have agreed to pause strikes, adding that he hoped it would become permanent.
The news immediately dampened sentiment for oil and drilling stocks, having benefited from the conflict over the past few weeks through skyrocketing oil prices and ramped up drilling demand.
Schlumberger Limited (NYSE:SLB) declined alongside its energy peers, with the oil and gas equipment and services sector alone dropping 4.51 percent.
In other news, Schlumberger Limited (NYSE:SLB) announced a strategic collaboration agreement with Cactus Drilling for the expansion of automated and autonomous drilling solutions.
The collaboration aims to deliver optimized performance through enhanced operational efficiency and consistency in execution by scaling advanced digital solutions.
8. Ovintiv Inc. (NYSE:OVV)
Ovintiv dropped its share prices by 6.24 percent on Monday to close at $38.91 apiece, in line with the drop in oil prices primarily due to the easing tensions between Israel and Iran.
After weeks of benefitting from the conflict through higher oil prices, Ovintiv Inc. (NYSE:OVV) declined alongside its energy peers after President Donald Trump announced in a social media post on Monday that the two Middle Eastern countries have officially agreed to pause strikes, adding that he hoped it would become permanent.
The oil and gas exploration and production sector alone declined by 3.29 percent.
In the first quarter of the year, Ovintiv Inc. (NYSE:OVV) registered total production of 588,000 barrels of oil equivalent per day (mboe/pd)
For the second quarter of the year, the company expects to produce between 585,000 to 605,000 mboe/pd, as well as between 595,000 to 615,000 mboe/pd for full-year 2025.
7. Halliburton Company (NYSE:HAL)
Halliburton dropped its share prices by 6.78 percent on Monday to close at $20.77 apiece as investors sold off positions following the stabilization in oil prices, brought about by the ceasefire between Israel and Iran.
Halliburton Company (NYSE:HAL) dropped alongside its energy counterparts after President Donald Trump announced that the two Middle Eastern countries had officially agreed on a ceasefire. The oil and gas equipment and services sector alone declined by 4.51 percent.
It can be recalled that the energy sector was among the industries that benefited from the two countries’ conflict with skyrocketing oil prices.
In other news, Halliburton Company (NYSE:HAL) bagged a contract from GeoFrame for the latter’s geothermal and direct lithium extraction projects.
Under the agreement, Halliburton Company (NYSE:HAL) will plan and design the first demonstration phase wells in the Smackover Formation in East Texas. Work is expected to begin in late 2025.
6. Quantum Computing Inc. (NASDAQ:QUBT)
Quantum Computing fell for a third straight day on Monday, losing another 7.31 percent to close at $17.50 apiece as investor sentiment was dampened by a sudden management shakeup in the company.
This followed the sudden retirement of Christopher Boehmler as Quantum Computing Inc.’s (NASDAQ:QUBT) chief finance officer, effective last Thursday, June 19.
While Quantum Computing Inc. (NASDAQ:QUBT) said that Boehmler’s decision was not due to any management disagreement, his sudden resignation was received in a negative light.
Boehmler was replaced by Christopher Roberts, 70, who was the company’s CFO between 2018 and 2023, before serving as a consultant from 2023 to 2025.
In other news, Quantum Computing Inc. (NASDAQ:QUBT) said it was able to raise $200 million in fresh funds through the private placement of more than 14 million common shares at a price of $14.25 apiece.
Quantum Computing Inc. (NASDAQ:QUBT) said it plans to use the proceeds to accelerate commercialization efforts, strategic acquisitions, working capital, and general corporate purposes.
5. Astera Labs, Inc. (NASDAQ:ALAB)
Astera Labs fell by 7.66 percent on Monday to end at $85.95 apiece as investors resumed profit-taking following last week’s surge, buoyed by its recent partnership with Alchip Technologies to advance the silicon ecosystem for next-generation AI infrastructure.
In a statement, Astera Labs, Inc. (NASDAQ:ALAB) said that the partnership will see the collaboration of Alchip’s custom ASIC development capabilities with Astera Labs’ comprehensive connectivity portfolio to deliver validated, interoperable solutions for hyperscalers building next-generation AI infrastructure.
“Our vision is to be the rack-level connectivity partner for hyperscalers,” said Astera Labs, Inc. (NASDAQ:ALAB) President and Chief Operating Officer Sanjay Gajendra.
“As custom compute platforms evolve to rack-scale implementations requiring advanced scale-up and scale-out connectivity, our partnership with Alchip will empower hyperscalers to seamlessly deploy complex AI infrastructure with a multitude of interconnect technologies, shorten time-to-market, and reduce integration risks.”
4. APA Corporation (NASDAQ:APA)
APA Corporation fell for a third day on Monday, shedding 7.91 percent to finish at $18.39 apiece following the drop in oil prices, thanks to the ceasefire between Israel and Iran.
APA Corporation (NASDAQ:APA), an energy exploration and production company, dropped alongside its counterparts after President Donald Trump announced that the two Middle Eastern countries had officially agreed on a ceasefire, and that he hoped it would become permanent.
The WTI crude oil dropped by 3.31 percent to $66.24/bbl while Brent crude was down by 3.19 percent at $69.20/bbl.
The oil and gas exploration and production sector alone declined by 3.29 percent.
APA Corporation (NASDAQ:APA) saw its net income in the first quarter of the year jump by 163 percent to $347 million from $132 million in the same period last year. Revenues increased by 35 percent to $2.636 billion from $1.95 billion year-on-year.
3. Super Micro Computer, Inc. (NASDAQ:SMCI)
Super Micro slashed its share prices by 9.77 percent on Monday to finish at $40.89 apiece following plans to raise $2 billion through a debt issuance.
In a statement, Super Micro Computer, Inc. (NASDAQ:SMCI) said that it intends to issue convertible senior notes due 2030 to qualified institutional buyers.
The company also expects to grant an option to the initial purchasers to purchase up to an additional $300 million aggregate principal amount within a 13-day period from and including the date the convertible notes are first issued.
Super Micro Computer, Inc. (NASDAQ:SMCI) said that the convertible notes will be senior, unsecured obligations and will accrue interest payable semi-annually in arrears.
The notes will mature on June 15, 2030, unless earlier redeemed, repurchased, or converted.
According to Super Micro Computer, Inc. (NASDAQ:SMCI), proceeds from the offer will be used to fund the cost of entering into the capped call transactions, while $200 million will be for a share buyback program. The remainder will be used for general corporate purposes, including to fund working capital for growth and business expansion.
2. Venture Global, Inc. (NYSE:VG)
Venture Global snapped a three-day winning streak on Monday, slashing 12.99 percent to close at $16.54 apiece, following the drop in oil and gas prices, thanks to the ceasefire between Israel and Iran.
On Monday, natural gas prices dropped by 0.87 percent to $3.67/MMBtu, mimicking lower oil prices, with the Brent Crude and WTI both declining by 2.83 percent and 3.05 percent, respectively.
In recent news, Venture Global, Inc. (NYSE:VG) announced the official start of the construction of its $28 billion liquefied natural gas (LNG) facility in Louisiana.
Called the CP2 LNG, the facility will sit on a 1,150-acre site in Cameron Parish, and is expected to be able to export at least 20 million tons of LNG per annum and employ 10,500 jobs, of which 7,500 will be generated during the construction, and 3,000 upon commercial operations.
It is also expected to pay more than $4 billion in local property taxes once the LNG comes into full swing.
Venture Global, Inc. (NYSE:VG) said it targets to kick off commercial operations in 2027.
The facility is expected to make Venture Global, Inc. (NYSE:VG) the largest LNG exporter in the US and the second largest in the world.
1. Hims & Hers Health, Inc. (NYSE:HIMS)
Hims & Hers fell by 34.63 percent on Monday to close at $41.98 apiece after Novo Nordisk terminated its marketing partnership with the company.
In a statement, Novo Nordisk said it ended its collaboration with Hims & Hers Health, Inc. (NYSE:HIMS) over allegations that the latter failed to adhere to the law, which prohibits mass sales of compounded drugs under the false guise of “personalization.”
Additionally, Novo Nordisk claimed that Hims & Hers Health, Inc. (NYSE:HIMS) was disseminating deceptive marketing that put patient safety at risk.
Following the cancellation, direct access to Wegovy will no longer be available to Hims & Hers Health, Inc. via NovoCare Pharmacy.
“Novo Nordisk is firm on our position and protecting patients living with obesity. When patients are prescribed semaglutide treatments by their licensed healthcare professional or a telehealth provider, they are entitled to receive authentic, FDA-approved and regulated Wegovy,” Novo Nordisk said.
“We will work with telehealth companies to provide direct access to Wegovy that share our commitment to patient safety, and when companies engage in illegal sham compounding that jeopardizes the health of Americans, we will continue to take action,” it added.
Hims & Hers Health, Inc. (NYSE:HIMS) has yet to issue a comment on the allegations.
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