This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Worst-Performing S&P 500 Stocks of the Year

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

10. Bank of America (BAC - Get Report), the ninth-largest stock in the S&P 500, has seen its shares tumble 53% this year, resulting in a market value of $64.7 billion. Its shares hit a 52-week low of $6 on Sept. 22.

The bank's ill-fated $4 billion acquisition of troubled Countrywide Mortgage in 2008 has resulted in continued heavy losses due to the high rate of foreclosures on the mortgages it created. The company also faces potential legal liabilities of tens of billions of dollars from investor lawsuits because of this deal.

The bank also faces the economic challenges that other U.S. banks do, including weak new loan growth and a low, flat yield curve, which will likely pinch net interest margins for the foreseeable future.

Indicative of the turmoil at Bank of America, early this month it announced that it is replacing two of its top executives, Sallie Krawcheck, president of global wealth and investment management, and Joe Price, president of consumer and small business banking

Analysts give its shares eight "strong buy" ratings, one "moderate buy," 13 "holds," and one "moderate sell," according to TheStreet Ratings.

>>To see these stocks in action, visit the 10 Worst-Performing S&P 500 Stocks portfolio on Stockpickr.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
6 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AKAM $76.55 -0.64%
BAC $15.56 -0.03%
ANR $0.82 0.06%
AIG $56.76 -0.42%
GNW $7.80 -1.10%

Markets

DOW 18,003.64 -34.33 -0.19%
S&P 500 2,103.62 -5.30 -0.25%
NASDAQ 5,040.0650 -20.1810 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs