Among the companies that have reported quarterly results so far, 76% have reported earnings that are higher than the mean estimate, and 46% have reported revenues above the mean estimate. But there are some stocks that had a tough quarter and have continued to struggle through the month of October.
Of October’s 10 worst-performing S&P 500 stocks, four are energy stocks, three are in health care and three are technology stocks.
10. Akamai Technologies Inc. (NASDAQ: AKAM) posted a decline of 11.9% in October and closed the month on Friday at $60.82, down about 0.5% on the day. Shares of the cloud services and content delivery network operator were trading more than 9% higher for the month until last Wednesday, when Akamai reported solid results paired with lower guidance. The stock’s 52-week trading range is $56.85 to $78.44.
9. Stericycle Inc. (NASDAQ: SRCL) specializes in disposing hazardous materials, including medical waste. Shares dropped 12.9% in October and closed Friday at $121.37, in a 52-week range of $110.56 to $151.57. The company’s earnings report last week was a disappointment and its outlook for the fourth quarter was worse.
8. Southwestern Energy Co. (NYSE: SWN) is an independent oil and gas producer that has suffered from the low prices for both commodities. Shares dropped 13% in October, and the stock posted a new 52-week low of $10.25 on Friday, before closing up 2.4% for the day at $11.04. The 52-week high is $37.26.
7. NRG Energy Inc. (NYSE: NRG) dropped 13.2% in the month of October and posted a new 52-week low last week at $12.62, before closing Friday at $12.89, unchanged on the day. The utility company announced in September that it would split itself into a fossil-fuel company and a green energy company, and that leaves investors wondering if either new company can thrive. The stock’s 52-week high is $33.92.
6. Endo International PLC (NASDAQ: ENDP), a generic and branded pharmaceutical maker, closed the month of October down 13.4%, after posting a 52-week low of $46.66 on October 22. Endo was caught up in the specialty pharmacy controversy that hammered Valeant. Endo’s 52-week high is $96.58. Shares closed Friday at $59.99, down about 0.7% on the day.
5. Tenet Healthcare Corp. (NYSE: THC) stock dropped about 15% in October to close Friday down 1.8% on the day at $31.37. The company reports third-quarter results next week, and on October 22 Tenet reaffirmed its EBITDA outlook for the quarter. Shares posted a new 52-week low of $26.62 on the same day. The 52-week high is $60.93.
4. Seagate Technology PLC (NASDAQ: STX) also saw its stock drop about 15% in October. Shares posted a new 52-week low of $36.80 on October 21, against a 52-week high of $69.40. Even a 17% dividend increase announced that day couldn’t buoy the share price. Shares closed Friday at $38.06, unchanged on the day.
3. Western Digital Corp. (NASDAQ: WDC) posted a new 52-week low of $66.08 on Friday, before closing the day down about 1.5% at $66.82. The computer storage device maker announced a $19 billion acquisition of SanDisk on October 21, and the stock has dropped more than $5 a share since then. The stock’s 52-week high is $114.69, and shares lost 16% in the month of October.
2. Quanta Services Inc. (NYSE: PWR) provides infrastructure services to the electric power and oil and gas industries worldwide. The company’s stock dropped of 17% in October and hit a new 52-week low of $18.46 on October 19. Shares closed up 1.3% on Friday at $20.11, and the 52-week high is $35.33.
1. CONSOL Energy Inc. (NYSE: CNX) posted a drop of 32% in October. The coal and natural gas producer was whipsawed by low prices for both its products. Shares closed up about 2.6% on Friday at $6.66, after posting a new 52-week low of $6.38 earlier in the day. The stock’s 52-week high is $42.26.