Investors punished Salesforce after earnings. See the other worst recent post-report reactions
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Shares of Salesforce (NYSE:CRM) had one of the worst reactions to a corporate earnings report this quarter, as the software firm saw its stock drop 19.4% after its financial figures were released. This represented the second-worst post-earnings drop for members of the S&P 500 since April 1. (EPAM Systems (EPAM) is the only stock that fell harder in the day after its earnings release.)
Listed below are the 10 S&P 500 stocks that suffered the largest one-day declines after reporting earnings since April 1, as compiled by Bespoke Investment Group.
Worst Performing Stocks One Day Reaction to Earnings
No.10: Norwegian Cruise (NCLH), -15%.
No. 9: Etsy (ETSY), -15.1%.
No. 8: Expedia (EXPE), -15.3%.
No. 7: Skyworks Solutions (SWKS), -15.3%.
No. 6: Starbucks (SBUX), -15.9%.
No. 5: CVS Health (CVS), -16.8%.
No. 4: Builders FirstSource (BLDR) -19.1%.
No. 3: Lamb Weston (LW), -19.4%.
No. 2: Salesforce (CRM) -19.4%.
No. 1: EPAM Systems (EPAM) -27%.
The drop in share price for Salesforce did not only affect individual investors who own shares of the company, but ripple effects also were pushed out into the exchange-traded fund market, as CRM is held by 364 different funds. Highlighted below are the five ETFs that have the largest portfolio allocation towards Salesforce.