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The Worst Performing Stocks In The S&P 500 So Far, From Boeing To Intel

by THEFUTURE.TEAM

July 5, 2024

KEY FACTS

Drugstore chain Walgreens was the worst-performing company in the S&P 500, a benchmark that tracks the share prices of the 500 largest U.S. companies. In the first six months of the year, Walgreens’ stock price halved to its lowest level since the mid-1990s, coinciding with the company’s plans to close up to a quarter of its locations as analysts predicted Walgreens’ worst annual profit since 2013.
Lululemon, the high-end athletic apparel company, is the second-worst performing stock YTD on the S&P, as analysts expect the retailer to report its worst annual revenue growth since Lululemon went public in 2007 ., other than the fiscal year ending in January. 2021.
Intel, the S&P’s third-worst performer, was perhaps the most surprising loser, given that rival Nvidia and other silicon chip companies have been among the best-returning investments this year amid the AI frenzy. Intel’s stock has largely been a victim of the company’s prolonged decline in business competition has intensified, with some analysts going so far as to declare Intel a “broken company.” Intel’s first-quarter earnings of $1.8 billion before interest, taxes, depreciation and amortization were the second worst first quarter since at least 2000, an improvement over last year’s EBITDA of $962 million. , but represents an 82% drop from $10.3 billion in the first quarter of 2020. For reference, Nvidia’s net profit for the spring quarter rose from $1.1 billion to $17.3 billion from 2020 to 2024
Boeing, the 10th largest returner in the S&P, certainly wasn’t shockingly low. Its stock market woes came as the airline faced what has become a public relations nightmare after several of its commercial jets broke down. That led to a Justice Department investigation, a congressional hearing focused on its problems, and this spring its worst quarterly earnings in eight quarters. All of this has disappointed investors, and Boeing is on a five-year streak of negative earnings.
For shares of entertainment giants Warner Bros. Discovery and Paramount Global, the fifth and twelfth biggest losers in the S&P, respectively, had a far from picture-perfect 2024 as both HBO parent WBD and CBS parent Paramount struggled with shaky balance sheets. WBD and Paramount reported net losses of $966 million and $563 million, respectively, in the first quarter — far worse than Wall Street’s Hollywood darling Netflix’s net income of $2.2 billion.
Such negative headlines weighed on entertainment conglomerates, and the expected loss of WBD’s NBA rights led to a 10% one-day selloff on April 30, while Paramount shares tumbled 8% on June 11 after the company ended talks to sell Skydance Media, managed by the son of billionaire Larry Ellison – David Ellison.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.