In any market environment, there are exceptions to the trend. But there aren’t many this time.
Since the S&P 500 SPX, -3.39% hit its last closing record on Feb. 19, the index has skidded 12% — and only seven of the component stocks haven’t declined through the close on Feb. 27. See the list below.
Before you get there, here’s a list of stocks in the index that took the worst beatings, along with a summary of how the 11 sectors performed.
It might surprise you that Tesla TSLA, -7.14% isn’t on that list of decliners, but the electric car maker hasn’t yet met the requirements to be included in the S&P 500. Before the outbreak of the coronavirus strain known as COVID-19, it appeared likely to be added to the index by the end of 2020. Tesla’s stock was down nearly $100 (13%) on Feb. 27 to close at $679. The stock was down $238 (26%) since it set a closing record of $917.42 on Feb. 19.
So here are the exceptions — seven S&P 500 stocks that rose in price between Feb. 19 and Feb. 27:
|Company||Ticker||Industry||Price change since Feb. 19||Price change – 2020||Decline from 52-week high||Price change – 2019|
|Gilead Sciences Inc.||GILD, -6.72%||Biotechnology||7.9%||11.8%||-7.9%||3.9%|
|Regeneron Pharmaceuticals Inc.||REGN, -2.06%||Biotechnology||7.7%||14.9%||-8.2%||0.5%|
|Clorox Co.||CLX, -5.96%||Household/Personal Care||2.3%||9.9%||-3.1%||-0.4%|
|E-Trade Financial Corp.||ETFC, -2.94%||Investment Banks/Brokers||2.3%||1.3%||-19.8%||3.4%|
|CME Group Inc. Class A||CME, -5.12%||Investment Banks/Brokers||1.4%||4.8%||-6.6%||6.7%|
|Newmont Corp.||NEM, -7.26%||Precious Metals||0.8%||7.1%||-9.4%||25.4%|
|Cboe Global Markets Inc.||CBOE, -3.63%||Investment Banks/Brokers||0.7%||1.0%||-5.2%||22.7%|
You can click the tickers for more about each company.
• Gilead Sciences GILD, -6.72% has announced two Phase 3 clinical studies to measure the effectiveness of its Remdesivir medication in countering COVID-19 infections. The company’s Feb. 26 press release has more details. Jefferies analyst Michael Yee rates Gilead a “buy,” but wrote in a note to clients on Feb. 26 that although he is pleased that fighting the virus is a ‘very high priority” for Gilead’s management, “the financial implications are modest (pricing, one-time use, no tail).”
• Regeneron Pharmaceuticals REGN, -2.06% ws upgraded to a “Buy” by Jefferies analyst Biren Amin on Feb. 25, because he believes competitive risk to the company’s Eylea macular degeneration therapy has been minimized because of safety concerns over Novartis AG’s NVS, -2.63% NOVN, -5.06% Beovu medication.
• Clorox CLX, -5.96% is an obvious defensive stock during a time when people are concerned about the spread of a deadly virus and reaching for bleach. But Charles Lemonides, founder of ValueWorks LLC in New York, argued that for long-term investors, Clorox’s high valuation to earnings actually makes it a risky stock.
• E-Trade Financial ETFC, -2.94% agreed on Feb. 20 to be acquired by Morgan Stanley MS, -2.80% in an all-stock deal valued at $58.74 a share at that time. E-Trade’s shares closed at $45.95 Thursday. The deal calls for an exchange of 1.0432 Morgan Stanley shares for every E-Trade share. Morgan Stanley’s shares closed at $45.41 on Feb. 27, so based on those numbers, E-Trade’s takeout price would be $47.37.
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