The stock market experienced a volatile week, leaving many investors wondering what hit their portfolios. Ten large-cap stocks, in particular, saw significant declines, raising concerns for those holding these companies.
ICON plc (ICLR)
took the biggest hit, plummeting 25.95% after releasing disappointing financial results. This triggered several analysts to lower their price target for the stock.Genuine Parts Company (GPC)
followed closely, dropping 20.21% after reporting mixed third-quarter results and cutting its 2024 earnings per share (EPS) forecast below expectations. This move also led to multiple analysts reducing their price targets.Newmont Corporation (NEM)
, a major gold mining company, experienced a 15.97% dip after releasing its third-quarter financial report. Analysts reacted by revising their price target for the stock downwards.Tenet Healthcare Corporation (THC)
faced a 14.71% decline last week, possibly influenced by the overall slump in healthcare stocks and hospital operators. This could be due to the negative sentiment surrounding HCA Healthcare, which also saw a decline following its Q3 earnings release.Universal Health Services, Inc. (UHS)
saw a similar fate, dropping 14.33% last week after disclosing its Q3 financial results.HCA Healthcare, Inc. (HCA)
experienced a significant 12.51% decline due to its worse-than-expected Q3 financial performance. The company attributed part of this decline to the ongoing impact of Hurricane Helene, which is expected to continue into 2025.TopBuild Corp. (BLD)
took a hit of 11.48% last week, reflecting a broader downturn in the homebuilding sector. The impact of Hurricane Milton on the industry played a major role in this decline.Carlisle Companies Inc (CSL)
lost 11.45% last week, attributed to its underwhelming Q3 performance, falling short of expectations.Teradyne, Inc. (TER)
experienced a 11.34% drop after releasing its third-quarter financial results. Some analysts responded by lowering their price target for the stock.Comfort Systems USA, Inc (FIX)
closed out the week with an 11.27% decline, stemming from the company’s disappointing Q3 sales results, which missed forecasts.These significant losses highlight the volatility of the stock market, and the need for careful analysis before investing in any company. While it’s important to consider the reasons behind these declines, remember that individual investors should consult with financial advisors before making any investment decisions.
