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Wall Street Strengthens amid Improved Market Sentiment

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Part 3
Wall Street Strengthens amid Improved Market Sentiment PART 3 OF 3

Anthem Was the S&P 500’s Top Loser on September 12

Top losers

The S&P 500’s top losers on September 12, 2017, were:

  • Anthem (ANTM) fell 3.4%.
  • McDonald’s (MCD) fell 3.2%.
  • Extra Space Storage (EXR) fell 2.8%.
  • Public Storage (PSA) fell 2.7%.
  • Hologic (HOLX) fell 2.6%.

Anthem Was the S&amp;P 500’s Top Loser on September 12

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Anthem

Anthem, a US health insurance company, was the S&P 500’s top loser on September 12. The stock fell as Anthem announced its plans to retreat from Obamacare in more states.

According to Anthem’s CEO Joseph Swedish, management is talking with state officials about selling health coverage in the next year. Since senators are making changes to Obamacare, Anthem is reconsidering its plans to provide health coverage in some states next year. By the end of 1H17, Anthem had 1.5 million customers on an Obamacare-related health plan. It announced the full or partial discontinuation of Obamacare-related health coverages in nine out of 14 states.

On September 12, Anthem fell 3.4% to $189.24—the biggest fall in ten months.

McDonald’s

McDonald’s, one of the leading global foodservice retailers, fell on Tuesday. The stock fell due to speculations about comparable sales this quarter.

The stock started to fall after M Science, a data tracking and equity research provider, said that its comparable sales might underperform this quarter. Also, the damage from Hurricane Harvey and Hurricane Irma in Texas and Florida might impact McDonald’s performance. The hurricanes could be a factor due to the number of stores that McDonald’s owns in the impacted areas. McDonald’s has 2,000 stores in Texas and Florida. Some analysts expected the comparable sales to fall this quarter due to the damage.

On Tuesday, McDonald’s fell 3.22 and closed the day at $156.33—the biggest one-day fall in 2017.

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