Today's 3 Worst Stocks
No matter the market, there will always be losers -- a few lagging disappointments holding back a Wall Street rally, or several big losers leading a bearish day. The S&P 500 ended the day down almost 0.3%, but several notable big names helped to drive down the index and make investors pull their hair out in frustration. Here are the three worst stocks today that you need to know about - from chemicals to semiconductors, these stocks put a dent in Wall Street's Thursday.
Three's a disappointing crowd
Semiconductor maker Broadcom couldn't shake the blues today, as shares fell 4.2% The company's adjusted earnings did manage to beat analyst expectations when it reported on Tuesday - with an adjusted EPS figure of $0.76, and revenue of more than $2 billion (at a 14% year-over-year increase) both topping expectations. Still, the company's prospects have been hurt by Apple's fall: Broadcom makes around 13% to 15% of its sales from Apple alone and, while Apple's earnings weren't all that bad, they've been enough to spook investors from both it and some of its suppliers.
Rival Qualcomm's stellar earnings today were also likely a factor in Broadcom's fall. Qualcomm, the leader in mobile chipmaking, beat estimates, and posted strong guidance today -- another sign to investors that Broadcom's toughest rival could be forging an even greater lead over its competitors.
Moving on to our second big loser today, Dow Chemical certainly didn't make shareholders happy, as its stock plunged nearly 7% on the day. The horrible drop put the kibosh on what had been a great start to the year: Prior to today, Dow had posted shares gaining just around 7% over the past month.
Unfortunately for investors, disappointing earnings slugged Dow in the gut. Sales fell, but managed to top analyst projections; earnings per share, however, just failed to meet expectations. The overall numbers weren't actually all that horrible, but weakness out of China and Europe sent shareholders into a selling frenzy.
Finally, our third big loser of the day is Time Warner Cable , as shares plummeted a nauseating 11.3% today. Time Warner reported earnings today, but it was poor guidance that sent the stock dropping to its lowest point since November. The company reported that operating margins in 2013 could fall by 0.5% to 1% based on higher programming costs, and with cable television subscribers falling across the country -- Time Warner alone lost 129,000 cable tv customers for the quarter -- the company's prospects look gloomy, at best.
Mobile keeps on rising
Broadcom had a tough day, but despite its dip, the company's in a good space amid the ongoing rise of mobile tech. The mobile revolution is still in its infancy, but with so many different companies, it can be daunting to know how to profit in the space. Fortunately, The Motley Fool has just released a free report on mobile named "The Next Trillion-Dollar Revolution," which tells you how. Inside the report, we not only describe why this seismic shift will dwarf any other technology revolution seen before it, but we also name the company at the forefront of the trend. Hundreds of thousands have requested access to previous reports, and you can access this new report today by clicking here -- it's free.
The article Today's 3 Worst Stocks originally appeared on Fool.com.Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple and Qualcomm. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.