Rising for a seventh straight day, the S&P 500 Index is on an absolute roll; Monday’s close brought it within a mere 10 points of all-time highs. But even on a day where the CBOE Volatility Index declined to multi-year lows, signaling confidence in equities markets, there were several stocks with unfortunate showings. Let’s look at three of the S&P’s most unfortunate on Monday.
Wall Street can have high expectations, and cloud platform provider Akamai Technologies, Inc. (NASDAQ:AKAM) fell victim to those today. Doing little more wrong than simply maintaining its previously stated first-quarter guidance, the stock tumbled 4.4%. Still expecting earnings of $0.45 to $0.47 per share in the quarter, analysts were looking for $0.50 per share.
Cliffs Natural Resources Inc (NYSE:CLF) rounds out the last of the underperformers today, having fallen 3.6%. This ore mining company is another business that’s gotten a little too familiar with inclusion on this list, having fallen nearly 35% in the past month alone.
Data from China today showing that industrial production came in below forecasts didn’t help matters; slowing industrial demand in one of the world’s largest and fastest-growing economies means trouble for energy mainstays like Cliffs Natural Resources Inc (NYSE:CLF). Combine that with recent financial woes that forced management to trim the dividend and issue more shares last year, and you can’t blame Wall Street for being a little pessimistic about the company’s prospects.
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 has no position in any of the stocks mentioned.
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