In this article, we take a look at five stocks that are tumbling today. If you want to take a look at some more stocks that are declining and the latest market situation, go to the 10 Stocks Tumbling Today.
5. Exxon Mobil Corporation (NYSE:XOM) has fallen 0.21% as of 10:36 AM ET after the Irving, Texas-based integrated oil and gas company recorded a $3.4 billion after-tax charge related to the suspension of its operations in Russia. Moreover, Exxon Mobil Corporation (NYSE:XOM) reported lower-than-expected earnings for Q1 2022. The company recorded a profit of $8.8 billion before excluding the impact of extraordinary items. This translated into an adjusted EPS of $2.07, which missed the consensus estimate of $2.23. Bailard Inc was the leading investor in Exxon Mobil Corporation (NYSE:XOM) during Q1 2022.
As of Q4 2021, Exxon Mobil Corporation (NYSE:XOM) was held by 71 hedge funds.
4. Bristol-Myers Squibb Company (NYSE:BMY) is down 3.37% as of 10:36 AM ET after the New York-based pharmaceutical company trimmed its FY22 EPS outlook. Bristol-Myers Squibb Company (NYSE:BMY) lowered its non-GAAP EPS prior estimate of $7.65 – $7.95 to $7.44 – $7.74. At the midpoint of $7.59, it falls 15 cents short of the consensus estimate of $7.74. Moreover, Bristol-Myers Squibb Company (NYSE:BMY) also slashed the full-year guidance for its blood cancer drug Revlimid by $500 million.
Of the 924 hedge funds in Insider Monkey’s database, Bristol-Myers Squibb Company (NYSE:BMY) was held by 66 hedge funds as of Q4 2021.
3. Colgate-Palmolive Company (NYSE:CL) has slipped 5.20% as of 10:36 AM ET after CEO Noel Wallace admitted that the company’s profitability was adversely impacted by a significant rise in the cost of raw materials and logistics globally. Moreover, Colgate-Palmolive Company (NYSE:CL) missed the EPS estimates by one cent for Q1 2022. Even though Colgate-Palmolive Company (NYSE:CL) raised its forecast for net sales to the higher end of its prior guidance, investors appear to be concerned about the rising costs eating away at the gross and net margins.
As of Q4 2021, Colgate-Palmolive Company (NYSE:CL) was held by 48 hedge funds.
2. Intel Corporation (NASDAQ:INTC) has slid 6.44% as of 10:32 AM ET after the Santa Clara, California-based chipmaker revealed lower-than-expected guidance for Q2 2022. Intel Corporation (NASDAQ:INTC) reported a decline in revenue of 7% YoY to $18.35 billion. For Q2 2022, Intel Corporation (NASDAQ:INTC) anticipates revenue and adjusted EPS of $18 billion and 76 cents respectively, compared to the analysts’ expectations of $18.38 billion and 84 cents. Moreover, Intel Corporation (NASDAQ:INTC) guided the fiscal year 2022 revenue of $76 billion and raised its guidance by 10 cents to $3.60.
Intel Corporation (NASDAQ:INTC) was held by 72 hedge funds at the end of Q4 2021.
1. The Western Union Company (NYSE:WU) has dropped 12.75% as of 10:37 AM ET after the target price of the Denver, Colorado-based firm was lowered from $20 to $19 by Tien-Tsin Huang at JPMorgan. The analyst maintained an Underweight rating on The Western Union Company (NYSE:WU) stock. Huang highlighted that the company’s Q1 2022 results were adversely impacted by macro headwinds due to the suspension of services in Russia and Belarus. The Western Union Company (NYSE:WU) saw its revenue decline by 4% YoY to $1.15 billion, which missed the consensus estimate of $1.14 billion. Furthermore, The Western Union Company (NYSE:WU) expects a revenue decline of 9% to 11% for the full year.
Out of the 924 hedge funds in Insider Monkey’s database, The Western Union Company (NYSE:WU) was owned by 28 hedge funds as of Q4 2021.
You can also take a peek at the 10 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital and 10 Favorite Stocks of Billionaire Izzy Englander.
