Bulletin
Investor Alert

New York Markets Close in:

Philip van Doorn

Deep Dive Archives | Email alerts

Aug. 23, 2022, 6:54 a.m. EDT

4 stocks of streaming-related companies drop 5% or more as investors lose confidence that the Fed might ease up

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Warner Bros. Discovery Inc. Series A (WBD)
  • X
    Netflix Inc. (NFLX)
  • X
    Paramount Global Cl B (PARA)

or Cancel Already have a watchlist? Log In

By Philip van Doorn

A variety of consumer discretionary and communications stocks lost ground on Monday, with companies providing streaming and related services standing out as investors seemed to accept that there is no reason to expect the Federal Reserve to slow its efforts to cool the economy and fight inflation.

Shares of Warner Brothers Discovery Inc. /zigman2/quotes/200511275/composite WBD +0.75% tumbled 7%, while Netflix Inc. /zigman2/quotes/202353025/composite NFLX +1.79% fell 6%. Paramount Global /zigman2/quotes/200340870/composite PARA 0.00% and Dish Network Corp. /zigman2/quotes/207505872/composite DISH -0.44% each declined 5%.

The day’s 20 worst-performing large-cap stocks are listed below; the table shows these streamers have plunged 42% to 68% during 2022.

U.S. stocks had their worst day since June , as investors seemed to shift back to worrying about a continuing cycle of interest-rate increases and balance-sheet reductions by the Fed possibly leading to a recession. Th e better-than expected July inflation report (mainly reflecting a decline in gasoline prices) had led to a flurry of speculation that the Fed might be able to take a slower approach.

“That changed last week when several Fed representatives took a tough (or hawkish) stance and indicated there wouldn’t be a change to the trajectory of higher rates, which could weigh on economic prospects. Now everyone is confused,” Lindsey Bell, Ally Financial’s chief money and markets strategist wrote in an email.

Rex Nutting: Stop misreading the Fed: It’s not getting cold feet about wrestling inflation to the ground

This may be an especially topsy-turvy week as investors look ahead to Federal Reserve Chairman Jerome Powell’s comments on monetary policy at central-bankers’ annual economic symposium in Jackson Hole, Wyo. Powell will speak at 10 a.m. ET on Friday.

Fed Jackson Hole preview: Powell to stress a recession won’t stop Fed’s fight against high inflation

Worst 20 large-cap stocks on Aug. 22

Together the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.12% and the Nasdaq-100 Index /zigman2/quotes/210598364/realtime NDX +0.14% include 518 stocks and 95% of these declined on Aug. 22, with 40% down 3% or more for the trading session.

Here are the day’s 20 worst-performing U.S. large-cap stocks:

Company Ticker Price change – Aug. 22 Price change – 2022 Decline from 52-week intraday high Date of 52-week intraday high
Warner Bros. Discovery Inc. Series A /zigman2/quotes/200511275/composite WBD -7.4% -46.0% -59.7% 01/18/2022
Aptiv PLC /zigman2/quotes/204162392/composite APTV -7.4% -41.7% -46.8% 11/04/2021
CarMax Inc. /zigman2/quotes/204412041/composite KMX -6.7% -31.0% -42.4% 11/08/2021
Netflix Inc. /zigman2/quotes/202353025/composite NFLX -6.1% -62.4% -67.7% 11/17/2021
BorgWarner Inc. /zigman2/quotes/201434123/composite BWA -5.8% -18.6% -26.8% 01/13/2022
Generac Holdings Inc. /zigman2/quotes/208144117/composite GNRC -5.7% -31.4% -53.9% 11/02/2021
Bath & Body Works Inc. /zigman2/quotes/202062875/composite BBWI -5.6% -47.7% -55.5% 11/18/2021
Booking Holdings Inc. /zigman2/quotes/203576210/composite BKNG -5.5% -17.8% -27.4% 02/16/2022
V.F. Corp. /zigman2/quotes/206706147/composite VFC -5.3% -41.1% -45.3% 11/16/2021
Match Group Inc. /zigman2/quotes/207178501/composite MTCH -5.3% -55.7% -67.8% 10/21/2021
Paramount Global Class B /zigman2/quotes/200340870/composite PARA -5.2% -18.6% -41.8% 09/07/2021
PVH Corp. /zigman2/quotes/208313660/composite PVH -5.2% -40.0% -49.0% 11/05/2021
ON Semiconductor Corp. /zigman2/quotes/202641012/composite ON -5.1% 1.3% -8.6% 08/18/2022
Align Technology Inc. /zigman2/quotes/200300692/composite ALGN -5.1% -61.0% -65.3% 09/23/2021
Dish Network Corp. Class A /zigman2/quotes/207505872/composite DISH -5.1% -46.2% -62.3% 10/04/2021
Ford Motor Co. /zigman2/quotes/208911460/composite F -5.0% -27.4% -41.7% 01/13/2022
Wynn Resorts Ltd. /zigman2/quotes/208845907/composite WYNN -5.0% -28.9% -43.7% 09/08/2021
Vornado Realty Trust /zigman2/quotes/207195881/composite VNO -4.9% -34.4% -41.9% 03/11/2022
Carnival Corp. /zigman2/quotes/202325446/composite CCL -4.9% -53.3% -65.7% 09/27/2021
DXC Technology Co. /zigman2/quotes/200279350/composite DXC -4.8% -23.3% -37.7% 02/09/2022
Source: FactSet

Click on the tickers for more about each company. Then  read  Tomi Kilgore’s detailed guide to the wealth of information available for free on MarketWatch quote pages.

Don’t miss: What’s the best way to invest in tech stocks right now? This strategy is working well for one fund manager.

<STRONG>Hear from Ray Dalio at MarketWatch’s <INTERNET LOCATION="INTERNAL" URL="https://moneyfestival.marketwatch.com/?mod=article_inline">Best New Ideas in Money Festival</INTERNET> on Sept. 21 and 22 in New York. The hedge-fund pioneer has strong views on where the economy is headed.</STRONG>

/zigman2/quotes/200511275/composite
US : U.S.: Nasdaq
$ 11.49
+0.08 +0.75%
Volume: 704,588
Dec. 1, 2022 9:40a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.05 billion
Rev. per Employee
$2.36M
loading...
/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 311.01
+5.48 +1.79%
Volume: 559,107
Dec. 1, 2022 9:40a
P/E Ratio
27.37
Dividend Yield
N/A
Market Cap
$125.03 billion
Rev. per Employee
$2.79M
loading...
/zigman2/quotes/200340870/composite
US : U.S.: Nasdaq
$ 20.08
0.00 0.00%
Volume: 204,406
Dec. 1, 2022 9:40a
P/E Ratio
4.28
Dividend Yield
4.78%
Market Cap
$12.93 billion
Rev. per Employee
$1.31M
loading...
/zigman2/quotes/207505872/composite
US : U.S.: Nasdaq
$ 15.98
-0.07 -0.44%
Volume: 91,857
Dec. 1, 2022 9:40a
P/E Ratio
5.32
Dividend Yield
N/A
Market Cap
$8.52 billion
Rev. per Employee
$1.18M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,085.18
+5.07 +0.12%
Volume: 0.00
Dec. 1, 2022 9:40a
loading...
/zigman2/quotes/210598364/realtime
US : Nasdaq
12,046.87
+16.81 +0.14%
Volume: 74,642
Dec. 1, 2022 9:40a
loading...
/zigman2/quotes/200511275/composite
US : U.S.: Nasdaq
$ 11.49
+0.08 +0.75%
Volume: 704,588
Dec. 1, 2022 9:40a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.05 billion
Rev. per Employee
$2.36M
loading...
/zigman2/quotes/204162392/composite
US : U.S.: NYSE
$ 106.86
+0.19 +0.18%
Volume: 38,534
Dec. 1, 2022 9:40a
P/E Ratio
92.41
Dividend Yield
0.00%
Market Cap
$28.90 billion
Rev. per Employee
$109,568
loading...
/zigman2/quotes/204412041/composite
US : U.S.: NYSE
$ 69.11
-0.25 -0.36%
Volume: 27,012
Dec. 1, 2022 9:39a
P/E Ratio
14.00
Dividend Yield
N/A
Market Cap
$10.96 billion
Rev. per Employee
$1.03M
loading...
/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 311.01
+5.48 +1.79%
Volume: 559,107
Dec. 1, 2022 9:40a
P/E Ratio
27.37
Dividend Yield
N/A
Market Cap
$125.03 billion
Rev. per Employee
$2.79M
loading...
/zigman2/quotes/201434123/composite
US : U.S.: NYSE
$ 42.61
+0.09 +0.22%
Volume: 12,082
Dec. 1, 2022 9:39a
P/E Ratio
12.35
Dividend Yield
1.60%
Market Cap
$9.95 billion
Rev. per Employee
$311,298
loading...
/zigman2/quotes/208144117/composite
US : U.S.: NYSE
$ 104.22
-1.30 -1.23%
Volume: 20,220
Dec. 1, 2022 9:40a
P/E Ratio
15.89
Dividend Yield
N/A
Market Cap
$6.69 billion
Rev. per Employee
$480,354
loading...
/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 42.58
+0.08 +0.19%
Volume: 29,925
Dec. 1, 2022 9:40a
P/E Ratio
11.08
Dividend Yield
1.88%
Market Cap
$9.71 billion
Rev. per Employee
$135,323
loading...
/zigman2/quotes/203576210/composite
US : U.S.: Nasdaq
$ 2,085.09
+5.64 +0.27%
Volume: 7,388
Dec. 1, 2022 9:39a
P/E Ratio
34.14
Dividend Yield
N/A
Market Cap
$80.66 billion
Rev. per Employee
$789,261
loading...
/zigman2/quotes/206706147/composite
US : U.S.: NYSE
$ 34.00
+1.18 +3.60%
Volume: 73,752
Dec. 1, 2022 9:40a
P/E Ratio
30.47
Dividend Yield
6.22%
Market Cap
$12.61 billion
Rev. per Employee
$337,924
loading...
/zigman2/quotes/207178501/composite
US : U.S.: Nasdaq
$ 50.76
+0.20 +0.40%
Volume: 81,878
Dec. 1, 2022 9:40a
P/E Ratio
157.95
Dividend Yield
N/A
Market Cap
$14.12 billion
Rev. per Employee
$1.26M
loading...
/zigman2/quotes/200340870/composite
US : U.S.: Nasdaq
$ 20.08
0.00 0.00%
Volume: 204,406
Dec. 1, 2022 9:40a
P/E Ratio
4.28
Dividend Yield
4.78%
Market Cap
$12.93 billion
Rev. per Employee
$1.31M
loading...
/zigman2/quotes/208313660/composite
US : U.S.: NYSE
$ 73.50
+6.32 +9.41%
Volume: 59,923
Dec. 1, 2022 9:40a
P/E Ratio
5.14
Dividend Yield
0.22%
Market Cap
$4.23 billion
Rev. per Employee
$290,868
loading...
/zigman2/quotes/202641012/composite
US : U.S.: Nasdaq
$ 74.43
-0.77 -1.02%
Volume: 160,718
Dec. 1, 2022 9:40a
P/E Ratio
19.51
Dividend Yield
N/A
Market Cap
$30.58 billion
Rev. per Employee
$268,957
loading...
/zigman2/quotes/200300692/composite
US : U.S.: Nasdaq
$ 196.65
-0.0098 -0.0050%
Volume: 20,369
Dec. 1, 2022 9:40a
P/E Ratio
30.42
Dividend Yield
N/A
Market Cap
$15.36 billion
Rev. per Employee
$171,438
loading...
/zigman2/quotes/207505872/composite
US : U.S.: Nasdaq
$ 15.98
-0.07 -0.44%
Volume: 91,857
Dec. 1, 2022 9:40a
P/E Ratio
5.32
Dividend Yield
N/A
Market Cap
$8.52 billion
Rev. per Employee
$1.18M
loading...
/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 14.24
+0.33 +2.41%
Volume: 1.31M
Dec. 1, 2022 9:40a
P/E Ratio
6.28
Dividend Yield
4.32%
Market Cap
$55.88 billion
Rev. per Employee
$829,158
loading...
/zigman2/quotes/208845907/composite
US : U.S.: Nasdaq
$ 84.36
+0.70 +0.83%
Volume: 129,808
Dec. 1, 2022 9:40a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$9.10 billion
Rev. per Employee
$141,188
loading...
/zigman2/quotes/207195881/composite
US : U.S.: NYSE
$ 25.54
+0.25 +0.99%
Volume: 16,899
Dec. 1, 2022 9:40a
P/E Ratio
50.83
Dividend Yield
8.38%
Market Cap
$5.22 billion
Rev. per Employee
$550,290
loading...
/zigman2/quotes/202325446/composite
US : U.S.: NYSE
$ 10.10
+0.17 +1.66%
Volume: 1.36M
Dec. 1, 2022 9:40a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$12.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200279350/composite
US : U.S.: NYSE
$ 30.17
+0.50 +1.69%
Volume: 11,246
Dec. 1, 2022 9:40a
P/E Ratio
9.67
Dividend Yield
0.00%
Market Cap
$6.83 billion
Rev. per Employee
$118,231
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.