The S&P 500 (NYSE:SPY) fell 1.94% and stands at 1,200. Here are three notable declining stocks.
Gannett Co. (NYSE:GCI): Gannett’s Q3 earnings report was underwhelming not only to Ganneet, but the entire print media sector as well. The sector is facing a triple whammy: a slowing economy, falling circulation and downward trending advertising revenue. Gannett is down 8.68%.
Cliffs Natural Resources (NYSE:CLF): The coal industry’s declining prospects if a recession were to hit are hurting Cliffs hard. The stock is down 7.58%.
Wells Fargo (NYSE:WFC): Wells Fargo’s earnings miss during its Q3 report has hit the entire market. Wells Fargo is struggling to maintain profit margins with such low interest rates. Wells Fargo CEO has said, “The economic recovery has been more sluggish and uneven than anyone anticipated.” The stock is down 8.44%.
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