Weekly Market Update: Stocks Slide as Financials, Consumer Cyclicals Fall

Stock Market Update for the Trading Week Ended March 13

• The Morningstar US Market Index fell 1.63%.
• The best-performing sectors were energy, up 1.88%, and utilities, up 0.39%.
• The worst-performing sectors were financial services, down 3.37%, and consumer cyclical, down 3.07%.
• Large-cap stocks fell 1.4%, mid-cap stocks fell 2.28%, and small-cap stocks fell 2.24%.
• Growth stocks fell 1.77%, blend stocks fell 2.04%, and value stocks fell 1.93%.
• The S&P 500 fell 1.60%, and the Nasdaq fell 1.26%.
• Of the 834 US-listed companies covered by Morningstar, 200, or 24%, were up, two were unchanged, and 632, or 76%, were down.

Bonds and Commodities

• Yields on 10-year US Treasury notes rose to 4.28% from 4.15%.
• Yields on 2-year US Treasury notes rose to 3.73% from 3.56%.
• West Texas Intermediate crude prices rose 8.39% to $98.93 per barrel.
• Comex Gold prices fell 2.49% to $5,009.50.

Top Stock Gainers

Hims & Hers Health HIMS, Nebius Group NBIS, SanDisk SNDK, Nio NIO, and Nextpower NXT were the top performers among US-listed stocks covered by Morningstar analysts.

• Hims & Hers topped the list, rising 57.53%, but it’s down 35.93% over the past three months. This no-moat company with a 3-star rating has decreased 29.74% over the past 12 months. The stock closed the week at $24.8, trading at a 13% premium to its fair value estimate of $23 per share.
• Nebius Group NV was the second-best performer, with a weekly return of 26.43%. The 2-star stock gained 23.21% over the past three months. Shares in this no-moat company are up 280.42% over the past 12 months. Nebius Group NV stock wrapped up the week at $112.94, trading at a 60% premium to its fair value estimate of $70 per share.
• SanDisk ranked third for the week, with its stock rising 25.44%. The 3-star, no-moat stock has gained 200.14% over the past three months and gained 1,126.84% over the past 12 months. SanDisk stock closed at $661.50, trading near its fair value estimate of $670 per share.
• The fourth-best-performing stock was no-moat Nio, which gained 22.59%. The 3-star stock has gained 10.34% over the past three months and is up 8.82% over the past 12 months. Nio finished the week at $5.86, trading at a 10% discount to its fair value estimate of $6.10 per share.
• Nextpower stock climbed 17.91% in the latest week. This no-moat company has seen an increase of 33.60% over the past three months and a rise of 161.51% over the past 12 months. The 1-star stock ended the week at $119.64 per share, trading at a 94% premium to its fair value estimate of $60.

Top Stock Losers

Fair Isaac FICO, Centene CNC, Paramount Skydance PSKY, Cogent Communications CCOI, and ULTA Beauty ULTA did the worst among US-listed stocks covered by Morningstar analysts.

• Fair Isaac was the worst-performing stock of the week, falling 23.31%. This 4-star, wide-moat company has fallen 40.72% over the past three months and fell 38.53% over the past 12 months. The stock ended the week at $1,132.01, trading at a 42% discount to its fair value estimate of $2,020 per share.
• Centene took the second spot, with a 21.08% price decline this week. The no-moat company, rated 4 stars, has fallen 15.37% over the past three months and fell 40.86% over the past 12 months. Closing at $34.45, the stock trades at a 49% discount to its fair value estimate of $70 per share.
• Paramount Skydance came in third, experiencing a 18.93% drop this week. This 4-star, no-moat company has fallen 28.31% over the past three months and fell 13.64% over the past 12 months. The stock finished the week at $9.72, trading at a 50% discount to its fair value estimate of $20 per share.
• Next up is Cogent Communications, which saw its stock price fall by 18.54% this week. The narrow-moat company with a 4-star rating has fallen 15.56% over the past three months and fell 67.54% over the past 12 months. At $18.80, the stock trades at a 33% discount to its fair value estimate of $32 per share.
• Ulta Beauty rounds out the list with a 17.10% decline this week. This 2-star, narrow-moat company has risen 3.84% over the past three months and rose 89.75% over the past 12 months. The stock closed the week at $535.61, trading at a 48% premium to its fair value estimate of $440 per share.

Highlights of This Week’s Market and Investing Events

• Monday, March 16: February Capacity Utilization, February Industrial Production
• Tuesday, March 17: Earnings from Lululemon Athletica LULU
• Wednesday, March 18: February Producer Price Index report, March Federal Open Market Committee decision on interest rates, earnings from Macy’s M
• Thursday, March 19: Initial Unemployment Insurance Claims report, March Federal Reserve Bank of Philadelphia Index, January New Home Sales