Top 10 Losers Today

Published on November 30, 2022 at 6:17 pm by Fahad Ali Khan in News

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

U.S. stocks inched lower on Wednesday morning after the Commerce Department released the economic data for the third quarter. The data showed that the U.S. economy advanced at 2.9 percent in Q3, up from the initial estimates of 2.6 percent growth and marginally above the consensus forecast calling for a gain of 2.7 percent.

Meanwhile, the drop in the share prices of stocks like CrowdStrike Holdings, Inc. (NASDAQ:CRWD), Nutrien Ltd. (NYSE:NTR) and Carvana Co. (NYSE:CVNA) also contributed to the losses in all three major U.S. indices.

Shares of Carvana Co. (NYSE:CVNA) and Nutrien Ltd. (NYSE:NTR) fell this morning after receiving a downgrade from analysts. On the other hand, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares lost nearly 20 percent of their value on a weak sales outlook for the current quarter.

In addition, shares of Hormel Foods Corporation (NYSE:HRL) and NetApp, Inc. (NASDAQ:NTAP) also dropped today on a soft financial outlook. Check out the complete article to see some other stocks losing value today.

Photo by Ruben Sukatendel on Unsplash

10. Solid Power, Inc. (NASDAQ:SLDP)

Number of Hedge Fund Holders: 15

Shares of Solid Power, Inc. (NASDAQ:SLDP) hit a new 52-week low of $2.88 this morning after DA Davidson downgraded the Colorado-based battery startup from “Buy” to “Neutral.”

Analyst Michael Shlisky was primarily moved by the company’s latest announcement about CEO transition. Shlisky also cut his price target for Solid Power, Inc. (NASDAQ:SLDP) from $13 per share to $5 per share.

Solid Power, Inc. (NASDAQ:SLDP) announced late Tuesday that its chief executive officer Douglas Campbell is leaving the company. Subsequently, the board named David Jansen, its current President, as an interim CEO.

9. Leslie’s, Inc. (NASDAQ:LESL)

Number of Hedge Fund Holders: 17

Shares of Leslie’s, Inc. (NASDAQ:LESL) turned red in pre-market trading Wednesday after issuing a weak earnings outlook for its fiscal year 2023. The outdoor supplies and sporting goods retailer projected adjusted earnings of 78 – 86 cents per share, below the consensus of 92 cents.

Leslie’s, Inc. (NASDAQ:LESL) released the guidance along with its fiscal fourth quarter results. The company reported adjusted earnings of 35 cents per share, up from 26 cents per share in the same period of 2021.

Revenue came in at $475.6 million, representing a surge of 16 percent on a year-over-year basis. Analysts expected Leslie’s, Inc. (NASDAQ:LESL) to earn 31 cents per share on revenue of $470.3 million.

8. Invitation Homes Inc. (NYSE:INVH)

Number of Hedge Fund Holders: 21

Invitation Homes Inc. (NYSE:INVH) shares slightly moved down this morning after Wolfe Research downgraded the home leasing company from “Outperform” to “Peer Perform,” citing a challenging operating environment.

Earlier this week, Raymond James analyst Buck Horne also lowered his ratings for Invitation Homes Inc. (NYSE:INVH) from “Strong Buy” to “Outperform,” mentioning a surge in property taxes.

Horne believes rising property taxes would ultimately weigh on the operating income growth of Invitation Homes Inc. (NYSE:INVH) in the coming quarters. He also cut his price target for the stock from $44 per share to $35 per share.

7. Hormel Foods Corporation (NYSE:HRL)

Number of Hedge Fund Holders: 29

Hormel Foods Corporation (NYSE:HRL) posted lower-than-expected sales for its fiscal fourth quarter. In addition, its sales outlook for fiscal 2023 also fell short of expectations. As a result, its shares fell to a nearly one-month low this morning.

The food processing company posted earnings of 51 cents per share for the three months ended October 31, unchanged from last year and just above the expectations of 50 cents. In addition, Hormel Foods Corporation (NYSE:HRL) posted revenue of $3.28 billion, down 5 percent over the year-ago quarter and below the consensus of $3.38 billion.

For its fiscal year 2023, Hormel Foods Corporation (NYSE:HRL) expects revenue in the range of $12.6 – $12.9 billion, below analysts’ average forecast of $13.1 billion.

Like Hormel Foods Corporation (NYSE:HRL), CrowdStrike Holdings, Inc. (NASDAQ:CRWD), Nutrien Ltd. (NYSE:NTR) and Carvana Co. (NYSE:CVNA) were also on the list of top 10 losers today.

6. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 36

Shares of NetApp, Inc. (NASDAQ:NTAP) dropped over 11 percent this morning following mixed financial performance for its fiscal second quarter and revised outlook for the full year.

NetApp, Inc. (NASDAQ:NTAP) reported adjusted earnings of $1.48 per share, easily beating the consensus of $1.33 per share. However, the quarterly revenue of $1.66 billion was marginally below the consensus of $1.67 billion.

Looking forward, NetApp, Inc. (NASDAQ:NTAP) cut its full-year adjusted profit outlook to a range of $5.30 – $5.50 per share, from its previous guidance between $5.40 – $5.60 per share.

Speaking on the results, CEO of NetApp, Inc. (NASDAQ:NTAP), George Kurian, said in a statement:

“We delivered a solid quarter in a dynamic environment, with all-time highs for Q2 revenue, billings, gross profit dollars, operating income, and EPS. Our modern approach to the hybrid multi-cloud delivers significant value to our customers and creates sizeable opportunity for us. In a challenging macro environment, we remain focused on innovation, execution, and operational discipline.”

Click to continue reading and see Top 5 Losers Today.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on April 11, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

Google CEO: This Will Be Bigger Than Electricity

Published on April 29, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up