In any market environment, there are exceptions to the trend. But there aren’t many this time.
Since the S&P 500 SPX, -1.43% hit its last closing record on Feb. 19, the index has skidded 12% — and only seven of the component stocks haven’t declined through the close on Feb. 27. See the list below.
Before you get there, here’s a list of stocks in the index that took the worst beatings, along with a summary of how the 11 sectors performed.
It might surprise you that Tesla TSLA, -3.58% isn’t on that list of decliners, but the electric car maker hasn’t yet met the requirements to be included in the S&P 500. Before the outbreak of the coronavirus strain known as COVID-19, it appeared likely to be added to the index by the end of 2020. Tesla’s stock was down nearly $100 (13%) on Feb. 27 to close at $679. The stock was down $238 (26%) since it set a closing record of $917.42 on Feb. 19.
So here are the exceptions — seven S&P 500 stocks that rose in price between Feb. 19 and Feb. 27:
| Company | Ticker | Industry | Price change since Feb. 19 | Price change – 2020 | Decline from 52-week high | Price change – 2019 |
| Gilead Sciences Inc. | GILD, -6.03% | Biotechnology | 7.9% | 11.8% | -7.9% | 3.9% |
| Regeneron Pharmaceuticals Inc. | REGN, +0.37% | Biotechnology | 7.7% | 14.9% | -8.2% | 0.5% |
| Clorox Co. | CLX, -5.82% | Household/Personal Care | 2.3% | 9.9% | -3.1% | -0.4% |
| E-Trade Financial Corp. | ETFC, -0.85% | Investment Banks/Brokers | 2.3% | 1.3% | -19.8% | 3.4% |
| CME Group Inc. Class A | CME, -3.66% | Investment Banks/Brokers | 1.4% | 4.8% | -6.6% | 6.7% |
| Newmont Corp. | NEM, -4.89% | Precious Metals | 0.8% | 7.1% | -9.4% | 25.4% |
| Cboe Global Markets Inc. | CBOE, -5.19% | Investment Banks/Brokers | 0.7% | 1.0% | -5.2% | 22.7% |
| Source: FactSet |
You can click the tickers for more about each company.
• Gilead Sciences GILD, -6.03% has announced two Phase 3 clinical studies to measure the effectiveness of its Remdesivir medication in countering COVID-19 infections. The company’s Feb. 26 press release has more details. Jefferies analyst Michael Yee rates Gilead a “buy,” but wrote in a note to clients on Feb. 26 that although he is pleased that fighting the virus is a ‘very high priority” for Gilead’s management, “the financial implications are modest (pricing, one-time use, no tail).”
• Regeneron Pharmaceuticals REGN, +0.37% ws upgraded to a “Buy” by Jefferies analyst Biren Amin on Feb. 25, because he believes competitive risk to the company’s Eylea macular degeneration therapy has been minimized because of safety concerns over Novartis AG’s NVS, -2.04%NOVN, -4.47% Beovu medication.
• Clorox CLX, -5.82% is an obvious defensive stock during a time when people are concerned about the spread of a deadly virus and reaching for bleach. But Charles Lemonides, founder of ValueWorks LLC in New York, argued that for long-term investors, Clorox’s high valuation to earnings actually makes it a risky stock.
• E-Trade Financial ETFC, -0.85% agreed on Feb. 20 to be acquired by Morgan Stanley MS, -0.75% in an all-stock deal valued at $58.74 a share at that time. E-Trade’s shares closed at $45.95 Thursday. The deal calls for an exchange of 1.0432 Morgan Stanley shares for every E-Trade share. Morgan Stanley’s shares closed at $45.41 on Feb. 27, so based on those numbers, E-Trade’s takeout price would be $47.37.
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