Stock Market

These 16 stocks in the S&P 500 crumpled at least 9% a day after the Fed raised rates – News Opener

One day after U.S. stocks got a reprieve as the Federal Reserve lifted its target range for short-term interest rates by 0.75 percentage point, inflation fears built a new wall of worry to send U.S. stocks plunging on June 16.

The S&P 500
SPX
ended with a 3.3% decline after hitting a new 52-week intraday low, with 97% of its components down for the day. More than a third of the stocks slumped at 5%. The benchmark U.S. index has now fallen 23.1% for 2022.

Read: U.S. inflation expected to keep running hot: Traders see 4 straight months of roughly 9% or higher CPI readings

The day’s worst performers

These 16 stocks in the S&P 500 skidded at least 9% on June 16:

Company

Ticker

Industry

Price change – June 16

Price change – 2022

Decline from 52-week intraday high

Date of 52-week intraday high

Norwegian Cruise Line Holdings Ltd.

NCLH Cruise Lines

-12%

-50%

-68%

06/17/2021

Royal Caribbean Group

RCL Cruise Lines

-11%

-54%

-64%

11/08/2021

Carnival Corp.

CCL Cruise Lines

-11%

-57%

-71%

06/17/2021

Penn National Gaming Inc.

PENN Casinos/ Gaming

-11%

-48%

-69%

09/08/2021

Enphase Energy Inc.

ENPH Semiconductors

-10%

-7%

-40%

11/22/2021

Generac Holdings Inc.

GNRC Electrical Products

-10%

-36%

-57%

11/02/2021

Aptiv PLC

APTV Auto Parts: OEM

-10%

-48%

-52%

11/04/2021

Etsy Inc.

ETSY Internet Retail

-9%

-68%

-78%

11/26/2021

Ralph Lauren Corp. Class A

RL Apparel/ Footwear Retail

-9%

-27%

-36%

02/22/2022

IPG Photonics Corp.

IPGP Semiconductors

-9%

-51%

-62%

08/02/2021

Caesars Entertainment Inc.

CZR Casinos/ Gaming

-9%

-60%

-69%

10/01/2021

Diamondback Energy Inc.

FANG Oil & Gas Production

-9%

24%

-18%

06/08/2022

MGM Resorts International

MGM Casinos/ Gaming

-9%

-39%

-46%

11/08/2021

American Airlines Group Inc.

AAL Airlines

-9%

-32%

-47%

06/17/2021

Marathon Oil Corp.

MRO Oil & Gas Production

-9%

56%

-23%

05/31/2022

Tesla Inc.

TSLA Motor Vehicles

-9%

-40%

-49%

11/04/2021

Source: FactSet

Tesla
TSLA
made the list of the day’s worst-performing stocks, after the company raised prices for its electric vehicles.

With so many double-digit losses on the list for 2022, many analysts working for brokerage firms expect these stocks to roar back over the next year. Here’s a summary of ratings and consensus price targets for the group:

Company

Ticker

Share “buy” ratings

Share neutral ratings

Share “sell” ratings

Closing price – June 16

Consensus price target

Implied 12-month upside potential

Norwegian Cruise Line Holdings Ltd.

NCLH 47%

53%

0%

$10.38

$21.38

106%

Royal Caribbean Group

RCL 47%

41%

12%

$35.16

$80.17

128%

Carnival Corp.

CCL 31%

52%

17%

$8.75

$20.39

133%

Penn National Gaming Inc.

PENN 75%

25%

0%

$26.91

$56.56

110%

Enphase Energy Inc.

ENPH 70%

27%

3%

$169.60

$231.00

36%

Generac Holdings Inc.

GNRC 91%

9%

0%

$223.99

$390.44

74%

Aptiv PLC

APTV 75%

18%

7%

$86.16

$146.25

70%

Etsy Inc.

ETSY 68%

32%

0%

$69.00

$138.42

101%

Ralph Lauren Corp. Class A

RL 47%

48%

5%

$87.14

$118.18

36%

IPG Photonics Corp.

IPGP 46%

39%

15%

$83.99

$150.25

79%

Caesars Entertainment Inc.

CZR 94%

6%

0%

$37.67

$106.43

183%

Diamondback Energy Inc.

FANG 88%

12%

0%

$133.68

$183.50

37%

MGM Resorts International

MGM 55%

45%

0%

$27.39

$53.48

95%

American Airlines Group Inc.

AAL 17%

66%

17%

$12.16

$19.65

62%

Marathon Oil Corp.

MRO 61%

32%

7%

$25.66

$35.00

36%

Tesla Inc.

TSLA 61%

28%

11%

$639.30

$968.60

52%

Source: FactSet

There are majority “buy” ratings for 10 of the stocks, among analysts polled by FactSet.

Don’t miss: Here’s a winning investment strategy for a long period of commodity shortages

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