#Deep Dive: These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market
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“Deep Dive: These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market”
Worst performers include oil producers and Ford
Another difficult week for U.S. stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages.
The S&P 500
SPX,
fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation.
CL.1,
dropped nearly 6% to settle at $78.74 a barrel on the New York Mercantile Exchange, for a one-week decline of 7.1%.
Read: U.S. oil prices drop below $80 a barrel to their lowest finish since January on recession fears
“The macro environment is really bad” for oil prices, according to Gabelli analyst Simon Wong. During an interview, Wong said the strong dollar was making oil, which is priced in dollars, more expensive for other countries and hurting demand for crude oil. The energy sector had the worst showing for the bad week, as you can see below.
Eight of the 20 stocks in the S&P 500 that fell the most for the week were in the energy sector:
| Company | Ticker | Industry | Price change – one week through Sept. 23 | Price change – Sept. 23 | Price change – 2022 |
| Caesars Entertainment Inc. |
CZR, |
Casinos/ Gaming | -21.5% | -6.0% | -62.2% |
| APA Corp. |
APA, |
Integrated Oil | -18.8% | -11.4% | 22.2% |
| Carnival Corp. |
CCL, |
Hotels/ Resorts/ Cruiselines | -16.8% | -7.2% | -55.5% |
| SolarEdge Technologies Inc. |
SEDG, |
Electrical Products | -16.7% | -4.5% | -7.8% |
| Marathon Oil Corp. |
MRO, |
Oil and Gas Production | -16.5% | -10.9% | 33.4% |
| Ford Motor Co. |
F, |
Motor Vehicles | -16.3% | -3.6% | -40.7% |
| Iron Mountain Inc. |
IRM, |
Real Estate Investment Trusts | -15.7% | -2.8% | -10.9% |
| Catalent Inc. |
CTLT, |
Pharmaceuticals: Major | -15.4% | -3.7% | -40.6% |
| Charter Communications Inc. Class A |
CHTR, |
Cable/ Satellite TV | -14.8% | -3.7% | -50.7% |
| Match Group Inc. |
MTCH, |
Internet Software/ Services | -14.6% | -2.6% | -64.2% |
| Hess Corp. |
HES, |
Oil and Gas Production | -14.0% | -8.6% | 41.3% |
| Live Nation Entertainment Inc. |
LYV, |
Movies/ Entertainment | -13.9% | -2.9% | -37.1% |
| Devon Energy Corp. |
DVN, |
Integrated Oil | -13.7% | -8.6% | 31.0% |
| Steris PLC |
STE, |
Medical Specialties | -13.6% | -5.4% | -31.3% |
| Ball Corp. |
BALL, |
Containers/ Packaging | -13.3% | -0.2% | -49.0% |
| Diamondback Energy Inc. |
FANG, |
Oil and Gas Production | -13.1% | -9.0% | 6.8% |
| PENN Entertainment Inc. |
PENN, |
Casinos/ Gaming | -12.9% | -0.5% | -48.7% |
| Halliburton Co. |
HAL, |
Oilfield Services/ Equipment | -12.8% | -8.7% | 7.5% |
| Pioneer Natural Resources Co. |
PXD, |
Oil and Gas Production | -12.7% | -7.8% | 14.9% |
| ONEOK Inc. |
OKE, |
Oil and Gas Pipelines | -12.4% | -8.4% | -10.2% |
| Source: FactSet | |||||
Click on the tickers for more about each company, including news coverage, financials and charts. Then read Tomi Kilgore’s detailed guide to the wealth of information available for free on MarketWatch quote pages.
Shares of Ford
F,
tumbled another 3.6% on Friday for a one-week slump of 16.5%, after The Wall Street Journal reported the company had delayed delivery of some vehicles because it didn’t have enough blue oval badges to put on them. This followed Ford’s warning Monday that it would end the third quarter with more unfinished vehicles than it had previously expected.
Read on: Ford announces leadership changes as it accelerates ‘Ford+’ growth plan, bolsters supply chain operations
Energy slides but still leads for 2022
The energy sector of the S&P 500 declined the most for the week but still is one of only two sectors showing gains for 2022:
| S&P 500 sector | Price change – one week | Price change – Sept. 23 | Price change – 2022 |
| Energy | -9.0% | -6.7% | 28.4% |
| Consumer Discretionary | -7.0% | -2.3% | -28.6% |
| Real Estate | -6.4% | -1.3% | -27.6% |
| Materials | -5.7% | -2.0% | -24.3% |
| Financials | -5.6% | -1.5% | -20.5% |
| Communication Services | -5.1% | -1.8% | -37.5% |
| Industrials | -4.5% | -1.9% | -19.8% |
| Information Technology | -3.6% | -1.4% | -29.0% |
| Health Care | -3.4% | -0.5% | -12.9% |
| Utilities | -3.0% | -1.2% | 0.3% |
| Consumer Staples | -2.1% | -1.7% | -9.9% |
| S&P 500 | -4.6% | -1.7% | -22.5% |
| Source: FactSet | |||
Don’t miss: Tesla, Take-Two and Exxon are among the exceptions to this big problem for stock prices
By
Philip van Doorn
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