Some of the biggest losing stocks in 2024 could be in for even steeper declines as investors jettison them to save on taxes, according to Morgan Stanley. October has been rocky for the three major averages – they are down this month as investors grapple with Middle East tensions and sharply higher oil prices – but for the entire year, the S & P 500 and the Nasdaq Composite have soared more than 20%.
The company's weak fourth-quarter guidance raised concerns for Ader. "Almost across the board, the outlook for the final quarter is below what the prior guidance implied and below consensus expectations," he wrote in a Sept. 12 report. "Most crucially, net-new digital media is expected to be $20M below what the prior guidance implied, but revenue for the major segments and margins were all set below estimates.
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