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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 check out some other stocks losing value on Thursday, go directly to Top 5 Losers Today.

U.S. stocks inched lower this morning after the Fed hinted that it still needs to go a long way before changing the pace of rate hikes. As of 12:48 PM ET, S&P 500 was down 0.55 percent, Dow Jones Industrial Average inched down 0.09 percent and Nasdaq Composite was negative 0.45 percent. The latest statement by Fed President James Bullard indicates the U.S. central bank may target interest rate hikes in the range of 5 – 7 percent to curb inflation.

Meanwhile, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), Salesforce, Inc. (NYSE:CRM) and Alibaba Group Holding Limited (NYSE:BABA) were among the notable stocks that fell this morning.

Shares of Salesforce, Inc. (NYSE:CRM) and Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) slid after receiving a downgrade from analysts. On the other hand, Alibaba Group Holding Limited (NYSE:BABA) shares slipped in pre-market trading Thursday after missing sales expectations for Q3. However, the Chinese stock rebounded sharply later in the day. Check out the complete article to see some other notable losers of the day.

Photo by Ruben Sukatendel on Unsplash

10. Global-e Online Ltd. (NASDAQ:GLBE)

Number of Hedge Fund Holders: 17

Shares of Global-e Online Ltd. (NASDAQ:GLBE) fell over 10 percent this morning after delivering mixed financial results for the third quarter and lowering its sales outlook for the full year.

Global-e Online Ltd. (NASDAQ:GLBE) reported a loss of 41 cents per share, wider than a loss of 19 cents per share in the year-ago period. Revenue increased to $105.56 million, from $59.1 million in the corresponding period of 2021. Analysts were looking for a loss of 30 cents per share on revenue of $100.92 million.

For fiscal 2022, Global-e Online Ltd. (NASDAQ:GLBE) cut its sales outlook to a range of $404.7 – $410.7 million, citing FX headwinds. Previously, it was expecting revenue between $406 – $416 million for the same period.

Meanwhile, KeyBanc slashed its price target for Global-e Online Ltd. (NASDAQ:GLBE) from $40 per share to $30 per share today, following its revised sales outlook for the full year.

9. The Children’s Place, Inc. (NASDAQ:PLCE)

Number of Hedge Fund Holders: 21

The Children’s Place, Inc. (NASDAQ:PLCE) missed profit expectations for Q3 and issued a weak outlook for the full year, sending its shares down nearly four percent in mid-day trading Thursday.

The specialty retailer of children’s apparel and accessories earned $3.33 per share on an adjusted basis, below the consensus of $3.73 per share. Revenue for the quarter came in at $509.1 million, while analysts expected The Children’s Place, Inc. (NASDAQ:PLCE) to post revenue of $500 million.

Looking forward, The Children’s Place, Inc. (NASDAQ:PLCE) projected adjusted earnings of  $4.05 – $4.30 per share for the full year, below analysts’ average estimate of $6.27 per share.

8. Helmerich & Payne, Inc. (NYSE:HP)

Number of Hedge Fund Holders: 26

Helmerich & Payne, Inc. (NYSE:HP) is next on the list of top 10 losers today. The stock slipped over three percent before the opening bell on Thursday after missing profit expectations for its fiscal fourth quarter.

Helmerich & Payne, Inc. (NYSE:HP) reported adjusted earnings of 45 cents per share, marginally below the consensus of 48 cents per share. The company had posted an adjusted loss of 0.62 per share in the same period of 2021.

On the bright side, Helmerich & Payne, Inc. (NYSE:HP) generated revenue of $631.33 million, significantly higher than $343.81 million over the year-ago period and above expectations of $597.29 million.

7. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ)

Number of Hedge Fund Holders: 29

Shares of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) fell more than six percent on Thursday morning even though the membership-only warehouse club chain posted better-than-expected financial results for its fiscal third quarter.

BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) earned 99 cents per share on an adjusted basis, up from 91 cents per share in the same period of 2021. Revenue for the quarter rose 12.2 percent versus last year to $4.79 billion. The results exceeded the consensus of 81 cents per share for earnings and $4.69 billion for revenue.

Moreover, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) also increased its full-year comparable club sales growth guidance to a range of 5 – 5.5 percent versus its previous growth guidance between 4 – 5 percent.

Like BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ), Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), Salesforce, Inc. (NYSE:CRM) and Alibaba Group Holding Limited (NYSE:BABA) are also trending today.

6. Advance Auto Parts, Inc. (NYSE:AAP)

Number of Hedge Fund Holders: 33

Shares of Advance Auto Parts, Inc. (NYSE:AAP) hit a new 52-week low of $148.67 this morning after receiving a downgrade from a couple of market research firms. Both Citi and Guggenheim lowered their ratings for the automotive aftermarket parts provider from “Buy” to “Neutral.”

The downgrade follows the company’s mixed results for Q3 and revised profit outlook for the full year. Advance Auto Parts, Inc. (NYSE:AAP) recently reported adjusted earnings of $2.84 per share, missing the consensus of $3.30 per share with a big margin. Revenue for the quarter inched up 0.8 percent versus last year to $2.6 billion, matching expectations.

For the full year, Advance Auto Parts, Inc. (NYSE:AAP) updated its adjusted earnings outlook to a range of $12.60 – $12.80 per share, below its previous projection between $12.75 – $13.25 per share.

Click to continue reading and see Top 5 Losers Today.

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

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