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Deep Dive: Here are Friday’s biggest stock-market losers, driven lower by disappointing earnings and a shrinking manufacturing sector

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U.S. stocks posted broad declines to start the new month, as disappointing earnings reports and a set of economic numbers soured investors’ mood.

• The Dow Jones Industrial Average DJIA, -2.55% sank 622 points, or 2.6%, to close at 23,723.69. The index is now down 19.7% from its closing high Feb. 12, but up 27.6% from its 2020 closing low set March 23. (All figures in this article exclude dividends.)

• The S&P 500 Index SPX, -2.80% was down 2.8% and ended 16.4% below its record closing level set Feb. 19, and was 26.5% above its 2020 closing low set March 23.

• The Nasdaq Composite Index COMP, -3.20% was worst of the three Friday with a 3.2% slide, ending 12.3% below its record closing high Feb. 19, but up 25.4% from its 2020 closing low set March 23.

The Institute for Supply Management said its manufacturing index fell during April to 41.5% from 49.1% in March. The April level was the lowest since April 2009. Any reading below 50% indicates contraction of the manufacturing sector.

Amazon.com AMZN, -7.59% had been a market leader during the COVID-19 lockdown, but its shares fell 8% after CEO Jeff Bezos told shareholders Thursday after the market closed that they “may want to take a seat” because of plans to spend its entire second-quarter operating profit.

Investors were also disappointed with Apple’s AAPL, -1.61% earnings report released Thursday after the market close because of a decision by the company not to provide forecasts. The iPhone maker boosted its stock buyback program by $50 billion.

Shares of Tesla fell 10% on Friday after CEO Elon Musk said during market hours Friday that the electric-car maker’s share price was too high.

Boeing’s BA, -5.42% stock was down 5% on Friday after the company announced $25 billion in new debt offerings.

Dow

All but one of the components of the Dow Jones Industrial Average fell Friday:

Company Ticker Price change – May 1 Price change – 2020 Price change – 2019
Dow Inc. DOW, -7.52% -7.5% -38.0% N/A
Exxon Mobil Corp. XOM, -7.16% -7.2% -38.2% 2.3%
United Technologies Corp. UTX, +2.36% -5.7% -30.8% 40.6%
Boeing Co. BA, -5.42% -5.4% -59.1% 1.0%
Travelers Companies Inc. TRV, -5.09% -5.1% -29.9% 14.4%
Caterpillar Inc. CAT, -4.72% -4.7% -24.9% 16.2%
Intel Corp. INTC, -4.18% -4.2% -4.0% 27.5%
Walgreens Boots Alliance Inc. WBA, -3.76% -3.8% -29.3% -13.7%
Goldman Sachs Group Inc. GS, -3.44% -3.4% -23.0% 37.6%
Cisco Systems Inc. CSCO, -3.44% -3.4% -14.7% 10.7%
American Express Co. AXP, -3.21% -3.2% -29.1% 30.6%
International Business Machines Corp. IBM, -2.93% -2.9% -9.1% 17.9%
Chevron Corp. CVX, -2.78% -2.8% -25.8% 10.8%
UnitedHealth Group Inc. UNH, -2.72% -2.7% -3.2% 18.0%
J.P. Morgan Chase & Co. JPM, -2.62% -2.6% -33.1% 42.8%
McDonald’s Corp. MCD, -2.61% -2.6% -7.6% 11.3%
Microsoft Corp. MSFT, -2.58% -2.6% 10.7% 55.3%
Walt Disney Co. DIS, -2.45% -2.5% -27.1% 31.9%
3M Co. MMM, -2.18% -2.2% -15.8% -7.4%
Merck & Co. Inc. MRK, -2.10% -2.1% -14.6% 19.0%
Nike Inc. Class B NKE, -1.88% -1.9% -15.6% 36.6%
Pfizer Inc. PFE, -1.87% -1.9% -3.9% -10.2%
Visa Inc. Class A V, -1.76% -1.8% -6.6% 42.4%
Apple Inc. AAPL, -1.61% -1.6% -1.6% 86.2%
Johnson & Johnson JNJ, -1.16% -1.2% 1.7% 13.0%
Verizon Communications Inc. VZ, -1.07% -1.1% -7.4% 9.2%
Procter & Gamble Co. PG, -0.89% -0.9% -6.5% 35.9%
Coca-Cola Co. KO, -0.63% -0.6% -17.6% 16.9%
Home Depot Inc. HD, -0.57% -0.6% 0.1% 27.1%
Walmart Inc. WMT, +1.12% 1.1% 3.4% 27.6%
Source: FactSet

Click on the tickers for more about each company. Scroll the table to see all the data.

Dow Inc. DOW, -7.52% was the worst performer in the Dow, even though the company met analysts’ expectations for first-quarter net income and beat sales estimates.

S&P 500

Among the S&P 500, 471 stocks declined Friday. Here are the day’s 10 worst performers:

Company Ticker Price change – May 1 Price change – 2020 Price change – 2019
Weyerhaeuser Co. WY, -17.83% -17.8% -40.5% 38.2%
Norwegian Cruise Line Holdings Ltd. NCLH, -15.61% -15.6% -76.3% 37.8%
Helmerich & Payne Inc. HP, -14.97% -15.0% -63.0% -5.2%
Apache Corp. APA, -13.76% -13.8% -55.9% -2.5%
Royal Caribbean Cruises Ltd. RCL, -12.82% -12.8% -69.5% 36.5%
Carnival Corp. CCL, -12.39% -12.4% -72.6% 3.1%
Western Digital Corp. WDC, -12.15% -12.2% -36.2% 71.7%
Newell Brands Inc NWL, -11.52% -11.5% -36.1% 3.4%
American Airlines Group Inc. AAL, -11.40% -11.4% -62.9% -10.7%
MGM Resorts International MGM, -10.81% -10.8% -54.9% 37.1%
Source: FactSet
Nasdaq-100

Here are Friday’s worst 10 performers among components of the Nasdaq-100 Index NDX, -3.13% :

Company Ticker Price change – May 1 Price change – 2020 Price change – 2019
Western Digital Corp. WDC, -12.15% -12.2% -36.2% 71.7%
Tesla Inc. TSLA, -10.30% -10.3% 67.6% 25.7%
United Airlines Holdings Inc. UAL, -10.00% -10.0% -69.8% 5.2%
KLA Corp. KLAC, -8.42% -8.4% -15.7% 99.1%
Lam Research Corp. LRCX, -7.93% -7.9% -19.6% 114.7%
Amazon.com Inc. AMZN, -7.59% -7.6% 23.7% 23.0%
Microchip Technology Inc. MCHP, -7.07% -7.1% -22.2% 45.6%
Marriott International Inc. Class A MAR, -6.80% -6.8% -44.0% 39.5%
Autodesk Inc. ADSK, -6.53% -6.5% -4.7% 42.6%
Cadence Design Systems Inc. CDNS, -6.52% -6.5% 9.3% 59.5%
Source: FactSet

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