Worst Performing Stocks on Earnings

And now for the ugly... In our last post, we highlighted the best performing stocks in reaction to their earnings reports. Below we highlight the S&P 500 companies that have averaged the biggest declines on the first trading day following their quarterly reports during the current bear market (since 10/07). Again, these companies are all in the S&P 500 and trade for more than $5/share.

Coventry Health (CVH) has averaged the biggest declines on earnings during the bear market as a result of its 51% collapse following its 10/21/08 report. It has declined on the day following four of its last five reports. Ciena (CIEN) has been the second worst performer with an average decline of 10.66%, followed by MTW, HIG, PDCO, and SNDK. Other notables on the list of earnings day losers include eBay (EBAY), Cigna (CI), Dell (DELL), Whole Foods (WFMI) and Bank of America (BAC).

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