Today's 3 Worst Stocks
The S&P 500 Index was hot today. The index rallied -- breaking the 1,700 mark for the first time ever -- as European Central Bank President Mario Draghi echoed the Federal Reserve's tone of preserving a low-interest rate environment. While the S&P finished at an all-time closing high after adding 1.3%, and ending at 1,706, not all of its individual components were so lucky. In fact, some of them performed rather horrendously.
Cosmetic powerhouse Avon Products fell 3.7% today after reporting quarterly profits that beat -- yes, beat -- expectations. Of course, that isn't the whole story: The company also revealed that regulators rejected Avon's $12-million offer to settle allegations of bribery in foreign markets. The investigation is proving to be an ongoing headache for the company and its shareholders; Avon first started looking into the matter back in 2008.
Meanwhile, Autodesk , which makes computer-aided design, or CAD, software, lost 3.2%, as Wall Street reacts to recent disappointments in the 3-D printing and innovative manufacturing arenas. CAD applications can be used to help users model and design the end product when using 3-D printers, and with one of 3-D printing's leaders, 3D Systems, disappointing on earnings Tuesday, that market may not be growing as quickly as Autodesk investors expected.
Lastly, solar-panel manufacturer First Solar lost 2.2% Thursday as its shares were also punished after another company's ominous quarterly results. The stock was hit by SunPower's report, specifically the part that projected at least $100 million less revenue in the current quarter than analysts were expecting. In a relatively nascent industry like solar power, each quarter is vitally important in gauging the commercial viability of the industry as a whole, and with First Solar set to announce earnings August 6, you can't blame shareholders for getting a little queasy following SunPower's underwhelming forecasts.
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The article Today's 3 Worst Stocks originally appeared on Fool.com.
Fool contributor John Divine has no position in any stocks mentioned. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool recommends 3D Systems. The Motley Fool owns shares of 3D Systems and has the following options: short January 2014 $36 calls on 3D Systems and short January 2014 $20 puts on 3D Systems. 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.
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