Here are the worst-performing stocks in the tech-heavy Nasdaq for Monday by their performance in percentage change at the end of trading on Sept. 21.
1. Illumina | Decreased -8.66%
Illumina (ILMN) - Get Report announced on Monday that it will acquire Grail for $3.5 billion in cash and $4.5 billion in shares, granting it access to a specialized blood testing technology platform. Grail, a cancer-diagnostic company backed by Amazon CEO Jeff Bezos, filed with the SEC to go public in early September..
2. Marriott / Decreased -6.96%
Marriott was upgraded to buy due to their resilience during the coronavirus pandemic. In May, Marriott (MAR) - Get Report reported its quarterly earnings that came below analysts’ estimates at $84.97. Marriott International has been below a death cross since March 17.
3. Booking Holdings Inc | Decreased -4.71%
Booking Holdings (BKNG) - Get Report reported earlier this month with a second-quarter loss of $10.81 per share. The company previously reported earnings per share of $23.59 in the year-ago quarter. In August, Booking announced that it will layoff 25% of its workforce due to the coronavirus pandemic.
4. NXP Semiconductors | Decreased -3.75%
NXP Semiconductors announced its quarterly dividend at the end of August. In May, U.S.-Dutch chipmaker NXP Semiconductors (NXPI) - Get Report named Kurt Sievers as its new CEO, replacing Richard Clemmer who is now a strategic adviser at the company.
5. Fiserv Inc | Decreased -3.73%
The small business payment processor Fiserv’s (FISV) - Get Report Clover payments platform saw a 32% growth in July. The company’s president and CEO Frank Bisignano said in August that the transaction volumes are still increasing now that businesses were reopening.
6. Micron Technology | Decreased -2.90%
Last week, shares of Micron increased by 6.8% to $49.23 after Goldman Sachs upgraded the stock from buy from neutral and affirmed a $58 price target. The company’s stock has underperformed this year as it fell 11% year to date, tied to pricing weakness in DRAM and NAND products. Micron (MU) - Get Report was cut to hold in August as its memory chips face a tough quarter.
All stock prices and activity referenced are pulled from Barchart.com