These 16 stocks in the S&P 500 fell at least 9% a day after the Fed hiked rates

A day after US stocks got some respite when the Federal Reserve raised its target range for short-term interest rates by 0.75 percentage point, inflation fears erected a new wall of concern that sent US stocks tumbling on June 16th.

The S&P 500 SPX,
-3.25%
ended down 3.3% after hitting a fresh 52-week intraday low, with 97% of its components down for the day. More than a third of shares fell 5%. The US benchmark index is now down 23.1% for 2022.

Read: US inflation expected to continue to run hot: traders see 4 straight months of around 9% or higher CPI readings

The worst performers of the day

These 16 stocks in the S&P 500 slipped at least 9% on June 16:

company

ticker

Industry

Price change – June 16th

Price change – 2022

Decline from 52-week intraday high

Date of 52 week intraday high

Norwegian Cruise Line Holdings Ltd.

NCLH,
-11.51%

cruise ships

-12%

-50%

-68%

06/17/2021

Royal Caribbean Group

RCL,
-11.41%

cruise ships

-11%

-54%

-64%

11/08/2021

carnival corp

ccl,
-11.08%

cruise ships

-11%

-57%

-71%

06/17/2021

Penn National Gaming Inc.

PENN,
-11.04%

Casinos/Games

-11%

-48%

-69%

08.09.2021

Enphase Energy Inc.

ENPH,
-10.02%

semiconductor

-10%

-7%

-40%

11/22/2021

Generac Holdings Inc.

GNRC,
-9.88%

electrical products

-10%

-36%

-57%

02.11.2021

Aptive SPS

APTV,
-9.74%

Auto Parts: OEM

-10%

-48%

-52%

04.11.2021

Etsy Inc.

ETSY,
-9.27%

internet retail

-9%

-68%

-78%

11/26/2021

Ralph Lauren Corp. Class A

RL,
-9.11%

Clothing/shoes retail

-9%

-27%

-36%

02/22/2022

IPG Photonics Corp.

IPGP,
-9.05%

semiconductor

-9%

-51%

-62%

08/02/2021

Caesar’s Entertainment Inc.

CZR,
-8.99%

Casinos/Games

-9%

-60%

-69%

01.10.2021

Diamondback Energy Inc.

catch,
-8.91%

Oil and Gas Production

-9%

24%

-18%

06/08/2022

MGM Resorts International

mgm,
-8.88%

Casinos/Games

-9%

-39%

-46%

11/08/2021

American Airlines Group Inc.

EEL,
-8.64%

airlines

-9%

-32%

-47%

06/17/2021

Marathon Oil Corp.

MRO,
-8.59%

Oil and Gas Production

-9%

56%

-23%

05/31/2022

Tesla Inc.

TSLA,
-8.54%

motor vehicles

-9%

-40%

-49%

04.11.2021

Source: FactSet

Tesla TSLA,
-8.54%
made the list of the day’s worst-performing stocks after the company hiked prices on its electric vehicles.

With so many double-digit losses on the 2022 list, many analysts who work for brokerage firms expect these stocks to bounce back next year. Here’s a summary of the ratings and consensus price targets for the group:

company

ticker

Share “Buy” reviews

Share neutral reviews

Share sell ratings

Closing price – June 16th

consensus price target

12-month implied upside potential

Norwegian Cruise Line Holdings Ltd.

NCLH,
-11.51%

47%

53%

0%

$10.38

$21.38

106%

Royal Caribbean Group

RCL,
-11.41%

47%

41%

12%

$35.16

$80.17

128%

carnival corp

ccl,
-11.08%

31%

52%

17%

$8.75

$20.39

133%

Penn National Gaming Inc.

PENN,
-11.04%

75%

25%

0%

$26.91

$56.56

110%

Enphase Energy Inc.

ENPH,
-10.02%

70%

27%

3%

$169.60

$231.00

36%

Generac Holdings Inc.

GNRC,
-9.88%

91%

9%

0%

$223.99

$390.44

74%

Aptive SPS

APTV,
-9.74%

75%

18%

7%

$86.16

$146.25

70%

Etsy Inc.

ETSY,
-9.27%

68%

32%

0%

$69.00

$138.42

101%

Ralph Lauren Corp. Class A

RL,
-9.11%

47%

48%

5%

$87.14

$118.18

36%

IPG Photonics Corp.

IPGP,
-9.05%

46%

39%

fifteen%

$83.99

$150.25

79%

Caesar’s Entertainment Inc.

CZR,
-8.99%

94%

6%

0%

$37.67

$106.43

183%

Diamondback Energy Inc.

catch,
-8.91%

88%

12%

0%

$133.68

$183.50

37%

MGM Resorts International

mgm,
-8.88%

55%

45%

0%

$27.39

$53.48

95%

American Airlines Group Inc.

EEL,
-8.64%

17%

66%

17%

$12.16

$19.65

62%

Marathon Oil Corp.

MRO,
-8.59%

61%

32%

7%

$25.66

$35.00

36%

Tesla Inc.

TSLA,
-8.54%

61%

28%

11%

$639.30

$968.60

52%

Source: FactSet

Among the analysts polled by FactSet, 10 of the stocks have a majority of “buy” ratings.

Do not miss: Here’s a winning investment strategy for a long period of commodity scarcity

https://www.marketwatch.com/story/these-16-stocks-in-the-s-p-500-crumpled-at-least-9-a-day-after-the-fed-raised-rates-11655414382?rss=1&siteid=rss These 16 stocks in the S&P 500 fell at least 9% a day after the Fed hiked rates

Brian Lowry

InternetCloning is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@internetcloning.com. The content will be deleted within 24 hours.

Related Articles

Back to top button