Weak Earnings, Outlook Drag Shares of These 10 Firms on Thursday

The stock market finished firmer on Thursday, as investors cheered fresh inflation data and tariff updates that helped alleviate concerns about inflationary pressures and global trade tensions.

The Dow Jones rose by 0.77 percent, the S&P 500 increased 1.04 percent, while the Nasdaq jumped 1.50 percent.

Despite overall market gains, ten companies managed to register declines, mostly due to disappointing earnings performance, a weaker outlook, and downgraded ratings.

In this article, we have listed the 10 worst-performing stocks and detailed the reasons behind their declines.

To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A person with stock market data on a laptop. Photo by Anna Nekrashevich on Pexels

10. Kinross Gold Corp. (NYSE:KGC)

Shares of Kinross Gold dropped by 6.09 percent on Thursday to close at $11.41 apiece as investors disposed of holdings in the company after missing analyst estimates.

In its latest earnings release, KGC said earnings per share for the fourth quarter of the year stood at $0.20, missing the consensus of $0.25.

Investors appeared to have discounted the company’s performance last year, with net income expanding by 321 percent to $275.6 million from $65.4 million year-on-year. Meanwhile, net profit for the full year surged by 127.9 percent to $948.8 million from $416.3 million.

Sales, on the other hand, jumped by 27 percent to $1.4 billion during the quarter from $1.1 billion year-on-year, while also growing 21 percent to $5.1 billion from $4.2 billion.

KGC is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada.

9. Nuscale Power Corp. (NYSE:SMR)

Nuscale Power saw its share prices decline by 6.4 percent on Thursday to end at $24.71 apiece as investors resorted to profit-taking following a surge in Thursday’s valuation.

Analysts were generally bullish about the company’s business outlook amid ongoing plans from the US government to prioritize ramping up energy resources to power homes and businesses, while also taking advantage of an expected increase in energy demand to bolster the Artificial Intelligence industry. Both factors were expected to bolster SMR’s growth.

For its part, the International Energy Agency (IEA) posted a bullish outlook for SMR in particular due to its heavy focus on small modular reactors, with the IEA regarding the business as particularly promising.