Top 10 Losers Today

Published August 2, 2022 at 3:43 pm EDT Updated September 7, 2026 at 11:35 am EDT

In this article, we will take a look at the top 10 losers of this morning.

Notable S&P 500 stocks, including construction and mining equipment maker Caterpillar Inc. (NYSE:CAT), energy firm The Williams Companies, Inc. (NYSE:WMB) and wealth management company First Republic Bank (NYSE:FRC), fell this morning.

Shares of Caterpillar Inc. and The Williams Companies, Inc. plummeted after missing sales expectations for the second quarter. In comparison, First Republic Bank slipped after it decided to sell 2 million shares of its common stock.

Several other companies, including JetBlue Airways Corporation (NASDAQ:JBLU) and Molson Coors Beverage Company (NYSE:TAP), were also spotted losing value earlier today. We will discuss the reasons for the downward movement of these stocks in the remaining article.

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10. Woodward, Inc. (NASDAQ:WWD)

Number of Hedge Fund Holders: 16

Shares of Woodward, Inc. (NASDAQ:WWD) plummeted over 10 percent in the pre-market trading session today. The drop came after the Colorado-based company missed financial expectations for its fiscal third quarter and trimmed its sales outlook for the full year.

Woodward, Inc. reported earnings of 64 cents per share, down from 74 cents per share in the year-ago period. Analysts were looking for earnings of 91 cents per share. The company blamed supply-chain and labor disruptions for hurting its profitability.

Revenue for the quarter increased 10 percent on a year-over-year basis to $614 million but missed analysts’ average estimate of $623.37 million. Woodward, Inc. also released its segment-wise sales results. Its aerospace revenue jumped 18 percent to $341 million, while industrial revenue slipped 1 percent to $216 million in the quarter.

Looking forward, Woodward, Inc. anticipates revenue in the range of $2.35 – $2.4 billion for the full year, down from its previous guidance between $2.4 – $2.55 billion. The updated outlook is below the expectations of $2.416 billion.

9. JetBlue Airways Corporation (NASDAQ:JBLU)

Number of Hedge Fund Holders: 29

JetBlue Airways Corporation released its second-quarter results earlier today. The low-cost airline failed to meet financial expectations for the quarter amid higher operating costs.

JetBlue Airways Corporation reported a loss of 47 cents per share, much wider than the consensus estimate for a loss of 11 cents per share. Revenue came in at $2.45 billion, below the expectations of $2.46 billion.

Among other updates, JetBlue Airways Corporation announced that its boards of directors authorized a deal to acquire Spirit Airlines for $3.8 billion. JetBlue said the merger would help the company better compete with bigger rivals such as Delta Air Lines and American Airlines.

8. Zebra Technologies Corporation (NASDAQ:ZBRA)

Number of Hedge Fund Holders: 31

Zebra Technologies Corporation (NASDAQ:ZBRA) just announced better-than-expected financial results for the second quarter. However, the results were overshadowed by a disappointing profit outlook for the current quarter. The weak guidance sent its shares down nearly 6 percent this morning.

For the third quarter, Zebra Technologies Corporation projected adjusted earnings in the range of $4.35 – $4.65 per share, against analysts’ average estimate of $5.08 per share.

Nevertheless, Zebra Technologies Corporation reported adjusted earnings of $4.61 per share for Q2, beating expectations of $4.21. The quarterly revenue of $1.468 billion also exceeded the consensus of $1.44 billion.

Speaking on the results, CEO Anders Gustafsson said in a statement:

“Our team delivered solid second quarter results, executing well in a challenging macro environment. Sales growth was near the high end of our expectations, and we were able to deliver adjusted earnings per share growth over the prior year, despite continued elevated supply chain costs and foreign currency exchange headwinds.”

7. Mohawk Industries, Inc. (NYSE:MHK)

Number of Hedge Fund Holders: 33

Shares of Mohawk Industries, Inc. (NYSE:MHK) fell over three percent on Tuesday morning after a couple of research firms cut their price targets for the manufacturer of floor covering products.

Baird lowered its price target for Mohawk Industries, Inc. from $150 per share to $140 per share on Monday, August 1, 2022. Baird analyst Timothy Wojs referred to the weak demand and higher inventory levels in the second quarter.

Moreover, RBC Capital analyst Michael Dahl also cut his price target for Mohawk Industries, Inc. from $112 per share to $101 per share, citing the company’s weak third-quarter outlook.

Like Mohawk Industries, Inc., Caterpillar Inc., The Williams Companies, Inc. and First Republic Bank were also spotted losing value earlier today.

6. Molson Coors Beverage Company (NYSE:TAP)

Number of Hedge Fund Holders: 36

Molson Coors Beverage Company just announced its second-quarter results. The Illinois-based drink and brewing company met profit expectations for Q2. However, its quarterly sales missed estimates, sending its shares down nearly 8 percent this morning.

On an adjusted basis, Molson Coors Beverage Company earned $1.19 per share in the quarter, down from $1.58 per share in the year-ago period. Revenue decreased to $2.92 billion, from $2.94 billion last year. Analysts were expecting Molson Coors Beverage Company to post earnings of $1.19 per share on revenue of $2.93 billion.

Commenting on the results, CFO of Molson Coors Beverage Company, Tracey Joubert said:

“We delivered another quarter of top-line growth on a constant currency basis and achieved income before income tax at the favorable end of our anticipated range, all while continuing to invest in our business, reduce net debt and return cash to shareholders. We also did this while navigating global inflationary pressures, a strike at our Montreal/Longueuil, Québec brewery and distribution centers and the cycling of a strong shipment quarter in the prior year period.”

5. The Williams Companies, Inc. (NYSE:WMB)

Number of Hedge Fund Holders: 38

Shares of The Williams Companies, Inc. dropped over four percent after the opening bell on Tuesday after the energy company posted mixed financial results for the second quarter.

The Williams Companies, Inc. earned 40 cents per share on an adjusted basis, topping the expectations of 37 cents per share. However, the quarterly revenue of $2.49 billion missed the consensus of $2.72 billion. The Williams Companies, Inc. had posted adjusted earnings of 27 cents per share on revenue of $2.28 billion for the comparable period of 2021.

Separately, The Williams Companies, Inc. also appeared in the first-quarter 2022 investor letter of Memphis-based Longleaf Partners Fund. The letter stated:

“Williams – Williams similarly benefitted from the positive natural gas tailwinds in the quarter. We scaled back our position on the back of strong performance but remain confident in the business. Its infrastructure positions Williams to be an important part of the renewable energy transition in the US through joint projects with the likes of Orsted in wind and other alternative energy solutions.”

4. First Republic Bank (NYSE:FRC)

Number of Hedge Fund Holders: 40

Shares of First Republic Bank fell over three percent this morning after the San Francisco-based wealth management company decided to sell 2 million shares of its common stock through an underwritten public offering.

First Republic Bank also gave underwriters a 30-day option to acquire an additional 0.3 million shares. The company has selected JPMorgan, BofA Securities and Goldman Sachs as bookrunners for the offering. First Republic Bank plans to use the sale proceeds for general corporate purposes, such as funding loans and buying investment securities.

3. IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Number of Hedge Fund Holders: 46

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) fell nearly three percent in the pre-market trading session today after announcing lower-than-expected financial results for the second quarter. The pet healthcare company reported earnings of $1.56 per share, down 33 percent on a year-over-year basis.

Revenue for the quarter rose 4 percent versus last year to $861 million. Analysts were expecting IDEXX Laboratories, Inc. to earn $1.65 per share on revenue of $864.61 million.

Looking forward, IDEXX Laboratories, Inc. guided for earnings of $7.77 – $8.05 per share and revenue growth of 3 – 5.5 percent for the full year.

Earlier this year, asset management firm Baron Funds also mentioned IDEXX Laboratories, Inc. in its first-quarter 2022 investor letter. Here’s what the firm said:

“Shares of veterinary diagnostics leader IDEXX Laboratories, Inc. (NASDAQ:IDXX) fell due to broader multiple compression in high-growth businesses. We believe that IDEXX’s business remains healthy and that the veterinary industry should consistently grow at a faster rate than it experienced pre-pandemic. We believe that the long-term secular trends around pet ownership and spending on pet care structurally accelerated during the pandemic. The company’s competitive position remains outstanding, and we expect new proprietary diagnostic tests and sales force expansion to meaningfully contribute to growth. We also expect the company’s margins to continue to improve considerably over time.”

2. Caterpillar Inc. (NYSE:CAT)

Number of Hedge Fund Holders: 54

Shares of Caterpillar Inc. fell nearly four percent in the pre-market trading session today following its mixed financial performance for the second quarter. The manufacturer of construction and mining equipment reported adjusted earnings of $3.18 per share, easily beating the expectations of $3.01 per share.

On the downside, Caterpillar Inc. posted revenue of $14.2 billion, missing the consensus of $14.38 billion. The company’s revenue took a hit from the suspension of business activities in Russia and elevated operational costs.

Separately, investment management firm Diamond Hill Capital talked about Caterpillar Inc. in its first-quarter 2022 investor letter, stating:

“We also initiated a position in Caterpillar (NYSE:CAT), one of the world’s leading manufacturers of construction and mining equipment. It’s a company we know well, as we have owned it in our large cap portfolio for quite some time. Recent share price weakness provided an opportunity for us to add it to our large cap concentrated portfolio at an attractive discount to our estimate of intrinsic value. We believe Caterpillar stands to benefit from increased capital investment supported by a healthier/recovering end market environment, particularly in construction and mining.”

1. The Mosaic Company (NYSE:MOS)

Number of Hedge Fund Holders: 66

Shares of The Mosaic Company (NYSE:MOS) fell over three percent in the pre-market trading session today after the fertilizer manufacturer missed profit and sales expectations for the second quarter.

The Mosaic Company earned $3.64 per share on an adjusted basis, compared to $1.17 per share in the year-ago period. Revenue for the quarter skyrocketed 92 percent versus last year to $5.37 billion. However, the results were below the consensus of $4.01 per share for earnings and $5.65 billion for revenue.

Moving forward, The Mosaic Company expects the demand for fertilizers to remain high due to the shortage of vital crop nutrients around the world. Speaking on the results, CEO Joc O’Rourke said:

“We are expanding production to help meet global demand and returning significant capital to shareholders. We expect strong fundamentals will continue for the rest of the year and into 2023.”

You can also take a peek at 11 Best Dividend-Paying Stocks to Buy Now and Jim Cramer Recommends These 10 Stocks For Recession.

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