Stock markets rallied again on Tuesday, which makes investors wonder why three stocks dropped by so much.
Nordson (NDSN) fell by 9.41% yesterday after posting non-GAAP EPS of $2.34. Revenue grew by 0.1% Y/Y to $651 million. Markets disliked the full-year FY 2024 revenue guidance of flat to 2% growth. The precision engineering and manufacturing technology firm blamed its Advanced Technology Solutions segment unit. The electronics cycle has a negative impact, offset by strength in its precision solutions and medical and fluid solutions segments.
Walgreens Boots Alliance (WBA) lost 6.4% on no news. The drugstore traded at prices not seen since 1998. The market is potentially slow to react to CVS Health (CVS) shares plunging after it posted Q1 results. CVS slashed its 2024 full-year adjusted EPS guidance. It expects EPS of $7.00, compared to expectations of $8.27.
Keysight Technologies (KEYS) fell by 8.38% after the firm posted first-quarter revenue of $1.22 billion. This is down by 12.2% Y/Y. CEO Dhanasekaran said that the business saw pockets of growth and stability. This is despite customers facing constrained spending. Investors are expecting more headwinds for Keysight’s operations. Cash flow from operations was $110 million in Q1, down from $423 million last year.
On the chart, KEYS stock indicated a bearish multiple top at $160 first forming last Dec. 2023.
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