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Philip van Doorn

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May 24, 2022, 11:32 a.m. EDT

Today’s biggest stock market losers aren’t limited to technology, as economic fears mount

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By Philip van Doorn

The management team at Snap Inc. minced no words May 23, saying “the macroeconomic environment has deteriorated further and faster than anticipated.” That led the company to say it will miss the low end of its month-old guidance for second-quarter revenue.

Those words sent Snap’s /zigman2/quotes/205087158/composite SNAP -1.06% shares tumbling — they were down 41% in late-morning trading May 24.

Snap’s warning also helped lead to declines for 90% of the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.10% . (S&P Dow Jones Indices has kept SNAP out of its stock indexes because of its multiple share-class structure.)

Read: Snap stock falls after company says it will miss estimates due to deteriorating economy

Among the 11 sectors of the S&P 500, communications services was the worst performer with a 5.6% decline, while the full index was down 2.2%.

Another sign of investors’ flight to safety was purchase volume that pushed the yield on 10-year U.S. Treasury notes /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -2.43% down 13 basis points to 2.74%.

Here are the 15 worst-performing stocks among the S&P 500 in late-morning trading May 24:

Company Ticker Price change – May 24 Price change – 2022 Decline from 52-week high Date of 52-week intraday high
Omnicom Group Inc. /zigman2/quotes/209996569/composite OMC -10% -6.7% -25.4% 02/10/2022
Meta Platforms Inc. Class A -10% -47.3% -53.9% 09/01/2021
Interpublic Group of Companies Inc. /zigman2/quotes/203101491/composite IPG -10% -24.6% -29.4% 02/09/2022
Carnival Corp. /zigman2/quotes/202325446/composite CCL -9% -40.7% -62.2% 06/08/2021
Caesars Entertainment Inc. /zigman2/quotes/205281174/composite CZR -9% -52.9% -63.3% 10/01/2021
DexCom Inc. /zigman2/quotes/201324608/composite DXCM -8% -44.7% -55.0% 11/18/2021
Norwegian Cruise Line Holdings Ltd. /zigman2/quotes/204183397/composite NCLH -8% -33.0% -59.1% 06/09/2021
Warner Bros. Discovery Inc. Series A /zigman2/quotes/200511275/composite WBD -8% -28.3% -48.5% 05/27/2021
Penn National Gaming Inc. /zigman2/quotes/209264611/composite PENN -8% -44.4% -66.6% 09/08/2021
Alphabet Inc. Class A /zigman2/quotes/202490156/composite GOOGL -8% -28.8% -32.0% 02/02/2022
Royal Caribbean Group /zigman2/quotes/208854639/composite RCL -7% -33.3% -47.8% 11/08/2021
Generac Holdings Inc. /zigman2/quotes/208144117/composite GNRC -7% -39.3% -59.2% 11/02/2021
Etsy Inc. /zigman2/quotes/202790087/composite ETSY -7% -67.7% -77.0% 11/26/2021
Moderna Inc. /zigman2/quotes/205619834/composite MRNA -7% -49.6% -74.3% 08/10/2021
MGM Resorts International /zigman2/quotes/209932643/composite MGM -7% -30.1% -38.7% 11/08/2021
Source: FactSet

More about Snap’s warning and its aftershocks:

/zigman2/quotes/205087158/composite
US : U.S.: NYSE
$ 12.99
-0.14 -1.06%
Volume: 12.67M
July 1, 2022 12:28p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$21.48 billion
Rev. per Employee
$779,048
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/zigman2/quotes/210599714/realtime
US : S&P US
3,781.53
-3.85 -0.10%
Volume: 962.55M
July 1, 2022 12:28p
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.90
-0.07 -2.43%
Volume: 0.00
July 1, 2022 12:28p
loading...
/zigman2/quotes/209996569/composite
US : U.S.: NYSE
$ 63.92
+0.31 +0.49%
Volume: 624,709
July 1, 2022 12:28p
P/E Ratio
10.55
Dividend Yield
4.40%
Market Cap
$13.09 billion
Rev. per Employee
$199,063
loading...
/zigman2/quotes/203101491/composite
US : U.S.: NYSE
$ 27.58
+0.05 +0.18%
Volume: 804,100
July 1, 2022 12:28p
P/E Ratio
10.75
Dividend Yield
4.22%
Market Cap
$10.84 billion
Rev. per Employee
$189,788
loading...
/zigman2/quotes/202325446/composite
US : U.S.: NYSE
$ 8.67
+0.02 +0.23%
Volume: 27.87M
July 1, 2022 12:28p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$9.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205281174/composite
US : U.S.: Nasdaq
$ 37.80
-0.50 -1.31%
Volume: 2.86M
July 1, 2022 12:28p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.21 billion
Rev. per Employee
$205,510
loading...
/zigman2/quotes/201324608/composite
US : U.S.: Nasdaq
$ 76.12
+1.59 +2.13%
Volume: 541,970
July 1, 2022 12:28p
P/E Ratio
146.36
Dividend Yield
N/A
Market Cap
$29.25 billion
Rev. per Employee
$408,302
loading...
/zigman2/quotes/204183397/composite
US : U.S.: NYSE
$ 11.05
-0.07 -0.67%
Volume: 9.82M
July 1, 2022 12:28p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.66 billion
Rev. per Employee
$33,626
loading...
/zigman2/quotes/200511275/composite
US : U.S.: Nasdaq
$ 13.81
+0.39 +2.87%
Volume: 9.92M
July 1, 2022 12:28p
P/E Ratio
6.82
Dividend Yield
N/A
Market Cap
$32.57 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/209264611/composite
US : U.S.: Nasdaq
$ 30.89
+0.47 +1.53%
Volume: 1.04M
July 1, 2022 12:28p
P/E Ratio
14.09
Dividend Yield
N/A
Market Cap
$5.07 billion
Rev. per Employee
$281,905
loading...
/zigman2/quotes/202490156/composite
US : U.S.: Nasdaq
$ 2,149.53
-29.73 -1.36%
Volume: 775,036
July 1, 2022 12:28p
P/E Ratio
19.41
Dividend Yield
N/A
Market Cap
$1437.71 billion
Rev. per Employee
$1.72M
loading...
/zigman2/quotes/208854639/composite
US : U.S.: NYSE
$ 34.47
-0.44 -1.26%
Volume: 3.16M
July 1, 2022 12:28p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.90 billion
Rev. per Employee
$29,992
loading...
/zigman2/quotes/208144117/composite
US : U.S.: NYSE
$ 214.71
+4.13 +1.96%
Volume: 333,463
July 1, 2022 12:28p
P/E Ratio
28.34
Dividend Yield
N/A
Market Cap
$13.44 billion
Rev. per Employee
$426,164
loading...
/zigman2/quotes/202790087/composite
US : U.S.: Nasdaq
$ 79.26
+6.05 +8.26%
Volume: 3.09M
July 1, 2022 12:28p
P/E Ratio
26.21
Dividend Yield
N/A
Market Cap
$9.31 billion
Rev. per Employee
$981,571
loading...
/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 150.91
+8.06 +5.64%
Volume: 2.81M
July 1, 2022 12:28p
P/E Ratio
4.39
Dividend Yield
N/A
Market Cap
$56.82 billion
Rev. per Employee
$8.34M
loading...
/zigman2/quotes/209932643/composite
US : U.S.: NYSE
$ 29.26
+0.31 +1.07%
Volume: 1.72M
July 1, 2022 12:28p
P/E Ratio
9.50
Dividend Yield
0.03%
Market Cap
$12.33 billion
Rev. per Employee
$184,520
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