Shares of Salesforce (NYSE:CRM) had one of the worst reactions to 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: Stabucks (SBUX), -15.9%.
No. 5:CVS Health (CVS), -16.8%.
No. 4: Builders FirstSource (BLDR) -19.1%.
No. 3: Lamb Westen (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.
- iShares Expanded Tech-Software Sector ETF (IGV), 7.94%.
- REX FANG & Innovation Equity Premium Income ETF (FEPI), 6.09%.
- iShares U.S. Tech Independence Focused ETF (IETC), 4.91%.
- First Trust Dow Jones Internet Index Fund (FDN), 4.84%.
- Fidelity Disruptive Technology ETF (FDTX), 4.83%.