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