Stocks fell Friday, as the Dow Jones Industrial Average closed out the worst week since March and only four days before the presidential election.
The Dow ended Friday down 157 points, or 0.59% to 26,501. For the week the Dow dropped 7.42%.
Here are the worst stocks in the Dow for this past week by their performance in percentage change at the close of trading on Friday, Oct. 30.
1. Boeing BA | Decreased -14.44%
Boeing posted a narrower-than-expected third-quarter loss Wednesday while unveiling further job cuts, as the planemaker continues to struggle to adapt to changes in the global aviation market brought by the coronavirus pandemic.
Boeing will reduce its overall headcount to under 130,000 by the end of next year after the planemaker posted its fourth consecutive quarterly loss. Jim Cramer said, “If you approve the Max their stock could go dramatically higher.”
2. Walgreens WBA | Decreased -10.91%
Walgreens announced a 2.2% increase in its quarterly dividend to $46.75 a share compared to the year-ago period. The dividend is payable on Dec.12 to holders of record on Nov.19.
Two weeks ago Walgreens posted stronger-than-expected fourth-quarter earnings and said profits in the coming year should continue to grow despite the impact of the coronavirus pandemic.
“I am pleased to report results that came in at the high end of our expectations as we continue to adapt and transform our business model to changing customer needs,” said CEO Stefano Pessina.
“Despite uncertainty amid the global COVID-19 pandemic, we are seeing a gradual improvement in key U.S. and UK markets and continued strong performance in our wholesale business. I’m also encouraged by the accelerating growth in our e-commerce platforms.”
3. American Express AXP | Decreased -10.65%
Last Friday, American Express reported earnings of $1.30 a share missed expectations by 5 cents, while revenue of $8.75 billion sank more than 20% year over year, but slightly beat estimates by $40 million.
The price action and results are having an impact on Visa and Mastercard.
4. UnitedHealth UNH | Decreased -9.07%
UnitedHealth posted earnings two weeks ago, and boosted its full-year profit forecast, as its Optum division continued to pace gains for the health care provider.
Cramer said to wait till after the presidential election results are declared to buy UnitedHealth. “Buy it if we get a blue wave.”
5. Visa V | Decreased -8.91%
On Wednesday, Visa reported higher-than-expected revenue for its fiscal fourth quarter. The company’s $5.1 billion in revenue was $100 million more than what Wall Street analysts anticipated, according to Refinitiv.
Earlier this week Visa’s acquisition of Plaid Inc. reportedly has sparked the U.S. Justice Department concern about competition, and the agency is close to deciding whether it should sue to block the deal.