Why Are These Four Stocks Losing Ground Today?

Seeing as WTI and Brent are taking another leg down after OPEC decided to keep its production above its historic 30 million barrel per day quota on December 4, it’s understandable that shares of Seadrill Partners LLC (NYSE:SDLP) remain volatile. Seadrill Partners LLC (NYSE:SDLP) has declined by 14% today following the news that the S&P ratings agency downgraded the stock by two notches to ‘B’ from ‘BB-‘, with a negative outlook. Seadrill Partners shares are down by 61% year-to-date as low crude prices lower demand for offshore drilling rigs. Hedge fund sentiment in Seadrill Partners has remained stable, however, as the number of funds long the stock remained unchanged at 6.

In what is likely natural consolidation after a big up-move, shares of Facebook Inc (NASDAQ:FB) have lost 2.3% as index selling also weigh on the stock’s supply and demand. Facebook recently closed some initiatives that haven’t quite caught on, including Snapchat-alternative slingshot, and a rooms discussion space app. Facebook for work, however, is still scheduled to be launched in a few months. Shares of Facebook Inc (NASDAQ:FB) are up 35% year-to-date. The company also remains a hedge fund favorite, with 128 funds owning shares as of the end of September.

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