News Formal

Some stocks could see further downside as investors sell to save on taxes, Morgan Stanley found

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 43%
  • Publisher: 72%

Simply Good Foods Co News

Morgan Stanley,S&P 500 Index,NASDAQ Composite

The major averages have enjoyed a strong 2024, but a few names could be marked for steep declines as the year winds down, according to the investment bank.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wednesday's market calls: Morgan Stanley downgraded, home goods stock to pop nearly 20%A major U.S. bank and a home goods company were among the companies being talked about by analyst on Wednesday.
Source: CNBC - 🏆 12. / 72 Read more »