Top 10 Losers Today

Published November 17, 2022 at 6:12 pm EST Updated September 7, 2026 at 11:46 am EDT

In this article, we will take a look at the top 10 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. and Norwegian Cruise Line Holdings Ltd. slid after receiving a downgrade from analysts. On the other hand, Alibaba Group Holding Limited 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. 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. 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. 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. 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. to post revenue of $500 million.

Looking forward, The Children’s Place, Inc. 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. 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. 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. 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. 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. 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. 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., Norwegian Cruise Line Holdings Ltd., Salesforce, Inc. and Alibaba Group Holding Limited 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. 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. 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.

5. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)

Number of Hedge Fund Holders: 38

Shares of Norwegian Cruise Line Holdings Ltd. fell more than seven percent in mid-day trading Thursday after Credit Suisse turned bearish on the Florida-based cruise line.

Credit Suisse analyst Benjamin Chaiken lowered his ratings for Norwegian Cruise Line Holdings Ltd. from “Outperform” to “Underperform,” citing downside risk to the company’s 2023 EBITDA outlook.

Chaiken also thinks the stock’s higher valuation versus its peers is unsustainable. He trimmed his price target for Norwegian Cruise Line Holdings Ltd. from $20 per share to $14 per share.

4. Kohl’s Corporation (NYSE:KSS)

Number of Hedge Fund Holders: 40

Kohl’s Corporation managed to beat financial expectations for the third quarter. However, it withdrew its financial outlook for the full year, citing macroeconomic challenges, volatile business trends and unexpected leadership changes. As a result, its shares slightly moved down this morning.

For the third quarter, Kohl’s Corporation reported adjusted earnings of 82 cents per share, significantly lower than $1.65 per share in the year-ago period. Revenue also declined 7 percent versus last year to $4.28 billion. Nevertheless, the results were better than analysts’ average estimate for earnings of 77 cents per share on revenue of $4.06 billion.

Among other updates, Kohl’s Corporation announced that its board has constituted a search team to supervise the search for a new chief executive officer.

3. Copart, Inc. (NASDAQ:CPRT)

Number of Hedge Fund Holders: 50

Shares of Copart, Inc. (NASDAQ:CPRT) slipped over two percent in pre-market trading Thursday after the online vehicle auction platform missed profit and sales expectations for its fiscal first quarter.

Copart, Inc. reported adjusted earnings of 51 cents per share, down from 53 cents per share in the year-ago period and below the consensus of 56 cents per share. Revenue for the quarter rose 10.3 percent on a year-over-year basis to $893.4 million, while analysts were looking for $898.80 million.

Discussing the results, Copart, Inc. blamed Hurricane Ian for hurting its operating results for the quarter. The company said it incurred additional costs of around $25 million as a result of the hurricane.

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 106

Shares of Alibaba Group Holding Limited turned red before the opening bell today. The drop came after the Chinese e-commerce giant posted lower-than-expected sales for the third quarter.

Alibaba Group Holding Limited primarily took a hit from weak consumer spending and soft economic activity due to frequent lockdowns in China. Moreover, intensifying competition from rivals like Pinduoduo also hurt its growth.

For the third quarter, Alibaba Group Holding Limited posted revenue of $29.12 billion, representing a surge of just 3 percent on a year-over-year basis. The numbers missed the consensus of $29.44 billion. On the bright side, the adjusted earnings of $1.82 per ADS surpassed the expectations of $1.64 per share.

Speaking on the results, CFO Toby Xu said in a statement:

“We generated another quarter of healthy revenue growth of 3% year-over-year in spite of the impact on consumption demand by the COVID-19 resurgence in China as well as slowing cross border commerce due to increasing logistics costs and foreign currency volatility.”

1. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 117

Shares of Salesforce, Inc. slid more than three percent this morning after Monness Crespi Hardt downgraded the cloud-based software company from “Buy” to “Neutral.”

Analyst Brian White believes enterprise technology spending is at risk due to a weakening economy. White also thinks Salesforce, Inc. will go through difficulties in the coming quarters.

Separately, investment management firm ClearBridge Investments also talked about Salesforce, Inc. in its third quarter 2022 investor letter, stating:

“Software has been a solid long-term performer for the Strategy and a key point of differentiation versus the benchmark. But even recurring revenue businesses enabling digital transformation are not immune from the vagaries of the COVID-19 recovery. Salesforce, Inc. (NYSE:CRM) (-12.8%) has detracted from results due to slowing revenue growth driven by a combination of factors, including pull-forward of enterprise digitization demand during COVID-19, some operational missteps, and lengthening sales cycles.

We believe the company still has ample room for revenue growth across its various platforms and should benefit from budget consolidation as customers seek control over tech spending in a weakening economy. We also see significant room for margin expansion. While we have trimmed our Salesforce (CRM) exposure, we maintain confidence that the stock will rerate to a level that reflects its growth potential.”

You can also take a peek at Best FAANG Stocks To Buy and 12 Best Consumer Staple Stocks.