Stocks

Today's Worst Stocks Are a Bunch of Semiconductors and Some Garbage, Too

With one hour left in the day, a quick glance at the 10 worst stocks in the S&P 500 show a consistent theme—investors are scared of semiconductor stocks. They’re not terribly fond of garbage, either.

With one hour left in the day, a quick glance at the 10 worst stocks in the S&P 500 show a consistent theme—investors are scared of semiconductor stocks. They’re not terribly fond of garbage, either.

3:04 p.m. With one hour left in the day, a quick glance at the 10 worst stocks in the S&P 500 show a consistent theme—investors are scared of semiconductor stocks. They’re not terribly fond of garbage, either.

Of the 10 worst stocks in the S&P 500 at 3:04 p.m., seven of them are semiconductor stocks. That’s no surprise following Texas Instruments’ (TXN) disappointing earnings, which appears to have rekindled worries that the chip market hadn’t bottomed yet. That explains the presence of Analog Devices (ADI), Microchip Technology (MCHP), Maxim Integrated Products (MXIM), Applied Materials (AMAT), Western Digital (WDC), and Broadcom (AVGO).

That leaves three non-chip stocks to round out 10-worst performers, and each had their own reasons for dropping. There’s Chipotle Mexican Grill (CMG), which beat earnings but perhaps not by enough to warrant an 85%-plus gained in 2019. Waste Management (WM), meanwhile, beat earnings again—it’s missed just once in the last four years—whether it rises or falls is something of a coinflip. Finally, Nike (NKE) fell 2.9% after announcing its CEO succession plans.

1. Texas Instruments -7.6% to $118.83 2. Chipotle Mexican Grill -4.6% to $792.98 3. Analog Devices -4.4% to $106 4. Microchip Technology -3.4% to $93.12 5. Waste Management -3% to $113.37 6. Maxim Integrated Products -3% to $56.88 7. Nike -2.9% to $92.83 8. Applied Materials -2.9% to $50.49 9. Western Digital -2.8% to $57.22 10. Broadcom -2.7% to $279.82

Markets Now is a quick take on what’s happening with the Dow Jones Industrial Average and other major market indexes. Don’t forget to check out the rest of Barron’s markets coverage.

Write to Ben Levisohn at Ben.Levisohn@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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