Weekly Market Update: Stocks Slip 1.86% as Healthcare Rises and Technology Falls

Stock Market Update for the Trading Week Ended June 26

• The Morningstar US Market Index fell 1.86%.
• The best-performing sectors were healthcare, up 7.88%, and real estate, up 4.16%.
• The worst-performing sectors were technology, down 5.32%, and consumer cyclicals, down 2.59%.
• Large-cap stocks fell 2.98%, mid-cap stocks rose 0.86%, and small-cap stocks rose 1.69%.
• Growth stocks fell 2.57%, blend stocks fell 0.05%, and value stocks rose 2.20%.
• The S&P 500 fell 1.95%, and the Nasdaq fell 4.60%.
• Of the 881 US-listed companies covered by Morningstar, 536, or 61%, were up, two were unchanged, and 342, or 39%, were down.

Bonds and Commodities

• Yields on 10-year US Treasury notes fell to 4.38% from 4.46%.
• Yields on 2-year US Treasury notes fell to 4.07% from 4.19%.
• West Texas Intermediate crude prices fell 8.70% to $69.43 per barrel.
• Comex Gold prices fell 3.05% to $4,064.50.

Top Stock Gainers

Blackberry BB, Bayer BAYRY, Bio-Techne TECH, Varonis VRNS, and Molina Healthcare MOH were the top performers among US-listed stocks covered by Morningstar analysts.

• Blackberry topped the list, rising 35.50%, and it’s up 214.29% over the past three months. This no-moat company with a 1-star rating has increased 112.32% over the past 12 months. The stock closed the week at $11.40, trading at a 99% premium to its fair value estimate of $5.20 per share.
• Bayer was the second-best performer, with a weekly return of 25.92%. The 4-star stock has gained 20.15% over the last three months. Shares in this no-moat company are up 72.22% over the past 12 months. Bayer stock wrapped up the week at $13.30, trading at a 14% discount to its fair value estimate of $15.30 per share.
• Bio-Techne ranked third for the week, rising 22.59%. The 3-star, narrow-moat stock has gained 34.33% over the last three months and 36.87% over the past 12. Bio-Techne stock closed at $71.02, trading at an 18% premium to its fair value estimate of $60.00 per share.
• The fourth-best-performing stock was no-moat Varonis, which gained 20.53%. The 2-star stock has gained 80.27% over the last three months but is down 23.11% over the past 12. Varonis finished the week at $40.23, trading at a 38% premium to its fair value estimate of $28.00 per share.
• Molina stock climbed 17.53% in the latest week. This narrow-moat company has seen an increase of 54.49% over the last three months but a decline of 26.55% over the past 12. The 4-star stock ended the week at $229.74 per share, trading at an 18% discount to its fair value estimate of $262.00.

Top Stock Losers

ON Semiconductor ON, Arm ARM, Bloom Energy BE, Western Digital WDC, and IREN IREN did the worst among US-listed stocks covered by Morningstar analysts.

• ON was the worst-performing stock of the week, falling 25.63%. This 2-star, narrow-moat company has risen 88.18% over the past three months and is up 120.95% over the past 12. The stock ended the week at $90.35, trading at a 32% premium to its fair value estimate of $90.00 per share.
• Arm took the second spot, with a 23.96% price decline this week. The wide-moat company, rated 1 star, has risen 121.37% over the past three months and 121.03% over the past 12. Closing at $334.27, the stock trades at a 132% premium to its fair value estimate of $150.00 per share.
• Bloom came in third, experiencing a 23.38% drop this week. This 1-star, no-moat company has risen 105.82% over the past three months and 1,331.39% over the past 12. The stock finished the week at $252.02, trading at a 342% premium to its fair value estimate of $70.00 per share.
• Next up is Western Digital, which saw its price fall by 21.43% this week. The no-moat company with a 1-star rating has risen 128.12% over the past three months and rose 980.56% over the past 12 months. At $586.45, the stock trades at a 63% premium to its fair value estimate of $415.00 per share.
• IREN rounds out the list with a 21.35% decline this week. This 3-star, no-moat company has risen 15.23% over the past three months and 302.19% over the past 12. The stock closed the week at $47.16, trading at a 16% premium to its fair value estimate of $41.00 per share.

Highlights of This Week’s Market and Investing Events

• Tuesday, June 30: June Chicago PMI, June Consumer Confidence Survey, May Job Openings and Labor Turnover Survey
• Wednesday, July 1: June ADP Employment Survey, May Construction Spending, June ISM Manufacturing
• Thursday, July 2: June Employment Situation Report, Initial Unemployment Insurance Claims