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Top 10 Losers Today

In this article, we will take a look at the top 10 losers today. If you want to see some more stocks losing value today, go directly to Top 5 Losers Today.

All three major U.S. indices extended their rally in mid-day trading Tuesday, partly lifted by earnings reports of stocks like General Motors Company (NYSE:GM) and The Coca-Cola Company (NYSE:KO).

General Motors Company (NYSE:GM) shares rose after reporting solid profit and sales for Q3 this morning. Moreover, shares of The Coca-Cola Company (NYSE:KO) moved up on better-than-expected results for the third quarter.

Meanwhile, the dropping 10-year Treasury yield also contributed to the surge in the indices. As of 01:06 PM ET, S&P 500 was positive 1.25 percent, Dow Jones Industrial Average was up 0.77 percent and Nasdaq Composite jumped 1.57 percent.

However, many other stocks, including Crown Holdings, Inc. (NYSE:CCK), Corning Incorporated (NYSE:GLW) and General Electric Company (NYSE:GE), dropped following their Q3 results.

In addition, insurance brokerage firm Brown & Brown, Inc. (NYSE:BRO) and New York-based airline JetBlue Airways Corporation (NASDAQ:JBLU), were also among the top 10 losers today. Check out the complete article to see what sent these stocks lower on Tuesday.

10. Crane Holdings, Co. (NYSE:CR)

Number of Hedge Fund Holders: 22

Shares of Crane Holdings, Co. (NYSE:CR) turned red this morning after posting mixed financial results for the third quarter. The industrial products company reported adjusted earnings of $1.86 per share, compared to $1.98 per share in the year-ago period but above expectations of $1.84 per share.

On the downside, the quarterly revenue of $815 million slipped 9 percent on a year-over-year basis and missed the consensus of $817.74 million Crane Holdings, Co. (NYSE:CR) also released the sales performance of its flagship units.

Revenue from the aerospace & electronics segment inched down 1 percent to $167 million, while process flow technologies revenue plummeted 16 percent to $250 million in the quarter. In comparison, revenue from the payment & merchandising technologies fell 8 percent to $335 million.

Looking forward, Crane Holdings, Co. (NYSE:CR) narrowed its 2022 adjusted earnings guidance to a range of $7.58 – $7.72 per share, compared to its previous outlook between $7.45 – $7.85 per share.

9. Armstrong World Industries, Inc. (NYSE:AWI)

Number of Hedge Fund Holders: 24

Shares of Armstrong World Industries, Inc. (NYSE:AWI) fell over four percent in mid-day trading Tuesday after posting its Q3 results below expectations and lowering its outlook for the full year.

Armstrong World Industries, Inc. (NYSE:AWI) reported adjusted earnings of $1.36 per share, up from $1.17 per share in the year-ago period but below the consensus of $1.49 per share. Revenue for the quarter rose 11.2 percent versus last year to $325 million, while analysts were looking for $331.97 million

If we look at its segment-wise sales results, mineral fiber revenue rose 9 percent to $233.7 million in the quarter. On the other hand, architectural specialties revenue jumped 17.5 percent to $91.3 million.

For the full year, Armstrong World Industries, Inc. (NYSE:AWI) reduced its adjusted earnings outlook to a range of $4.75 – $4.85 per share, citing an uncertain economic environment.

8. Brown & Brown, Inc. (NYSE:BRO)

Number of Hedge Fund Holders: 29

Brown & Brown, Inc. (NYSE:BRO) specializes in risk management solutions. The company has been providing insurance products and services to both individual and enterprise clients since 1939.

Shares of Brown & Brown, Inc. (NYSE:BRO) plummeted to a nearly four-month low this morning after missing financial expectations for the third quarter. The Florida-based company’s adjusted earnings declined to 50 cents per share, from 58 cents per share in the year-ago period.

In addition, Brown & Brown, Inc. (NYSE:BRO) posted revenue of $927.6 million, up 20.4 percent on a year-over-year basis. The results lagged behind the consensus of 61 cents per share for earnings and $946.12 million for revenue.

7. Cleveland-Cliffs Inc. (NYSE:CLF)

Number of Hedge Fund Holders: 29

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) tumbled over 10 percent in mid-day trading Tuesday. The drop came after the flat-rolled steel producer reported a drop in its third quarter profit and sales.

Cleveland-Cliffs Inc. (NYSE:CLF) attributed the weakness to elevated input costs and maintenance activities. The company reported earnings of 29 cents per share, significantly lower than $2.33 per share in the corresponding period of 2021.

Revenue also decreased to $5.7 billion, from $6 billion in the year-ago quarter. Analysts expected Cleveland-Cliffs Inc. (NYSE:CLF) to post earnings of 49 cents per share on revenue of $5.78 billion.

Like Cleveland-Cliffs Inc. (NYSE:CLF), investors are also closely watching General Motors Company (NYSE:GM), The Coca-Cola Company (NYSE:KO), Crown Holdings, Inc. (NYSE:CCK) after their recent earnings.

6. JetBlue Airways Corporation (NASDAQ:JBLU)

Number of Hedge Fund Holders: 30

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) fell more than six percent after releasing financial results for the third quarter. The low-cost airline reported adjusted earnings of 21 cents per share, missing the consensus of 24 cents.

Revenue came in at $2.56 billion, matching expectations. In addition, JetBlue Airways Corporation (NASDAQ:JBLU) reported an operating margin of 5.4 percent for the quarter, significantly lower than 9.4 percent in the year-ago period. The drop was attributed to elevated costs during the quarter.

Discussing the results, CEO of JetBlue Airways Corporation (NASDAQ:JBLU), Robin Hayes, said in a statement:

“For the third quarter, we reached an important milestone in our recovery as we generated our first quarterly adjusted profit since the start of the pandemic. Looking ahead, we expect our profitability to carry through to another solid quarter of mid-single-digit pre-tax margins in the fourth quarter, and we’ll look to expand on that further in 2023 as we continue to restore our earnings power.”

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Disclosure: None. Top 10 Losers Today is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

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