Why These 10 Companies Were Heavily Sold Down

Wall Street’s main indices finished stronger on Tuesday, buoyed by the influx of more corporate earnings results.

The Dow Jones grew by 0.75 percent, the S&P 500 rose by 0.58 percent, and the Nasdaq was up by 0.55 percent.

Despite the wider market optimism, 10 companies managed to register declines, predominantly due to investors exercising caution coupled with companies’ dismal earnings performance during the past quarter.

In this article, we have identified Tuesday’s 10 worst-performing stocks and detailed the reasons behind their drop.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels

10. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing dropped its share prices by 3.90 percent on Tuesday to close at $8.86 apiece as investors repositioned portfolios ahead of the release of its first quarter earnings performance over the next few days.

The company, which reported a 1,175 percent wider net loss in the fourth quarter of 2024, is set to release the results of its key financial and operational highlights for the period January to March after market close on May 12, 2025.

In recent news, Rigetti Computing Inc. (NASDAQ:RGTI) was selected as one of the participants in the Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking Initiative (QBI), whose primary goal is to determine if any approach to quantum computing can achieve utility-scale operation by 2033.

According to Rigetti Computing Inc. (NASDAQ:RGTI), it will advance to Stage A, a 6-month performance period focused on its utility-scale quantum computer concept worth up to $1 million upon completion of program milestones.

9. Transocean Ltd. (NYSE:RIG)

Transocean Ltd. saw its share prices drop by 4.76 percent on Tuesday to finish at $2.2 apiece after kicking the year off with dismal first-quarter earnings performance.

In its latest earnings release, Transocean Ltd. (NYSE:RIG) said it swung to a net loss of $79 million from a net income of $98 million in the same period a year earlier, despite contract drilling revenues improving by 18.7 percent to $906 million from $763 million year-on-year.

Costs and expenses were higher by 11 percent at $844 million versus the $760 million in the same period a year earlier.

“While uncertain macroeconomic conditions have resulted in near-term market volatility, including commodity prices, Transocean is very well-positioned to navigate this evolving landscape. In addition to continuing to deliver strong operating performance across our highly contracted fleet, we remain engaged in constructive conversations with our customers on opportunities several years in the future,” said Transocean Ltd. (NYSE:RIG) Chief Executive Officer Jeremy Thigpen.