The S&P 500’s top losers on October 19, 2017, were:
United Continental Holdings
United Continental Holdings, which is a publicly traded airline holding company, was the S&P 500’s top loser on Thursday. On October 19, United Continental Holdings opened the day lower and fell to more than three-week low price levels.
United Continental’s stock prices fell amid the dented market sentiment after management’s earnings call. The EPS (earnings per share) in 3Q17 was $2,22 with a profit of $669 million. It’s a fall from the EPS of $3.11 and profit of $997 million in 3Q16. However, the EPS is slightly higher than the market’s expected reading of $2.12. The revenue was $9.88 billion in 3Q17—a fall of 0.3% from 3Q16.
The most bearish factor is United Continental’s outlook amid competition from low-cost competitors. Higher fuel prices are also weighing on the company’s profits. After the earnings call, United Continental’s CEO Oscar Munoz commented that the company dug itself into a hole regarding the competition.
On October 19, United Continental fell 12.1% and closed the day at $59.78.