5 Top Decliners For Friday s Covid Concerns Return to Europe

U.S. stocks traded mixed Friday after the House cleared President Joe Biden’s $1.75 trillion social spending bill, while renewed concern about a fourth wave of coronavirus infections in Europe rattled investors.

Here are some companies that took a hit Friday.

Shares of Foot Locker  (FL) – Get Foot Locker, Inc. Report stumbled after the sports and footwear retailer warned that supply chain disruptions would persist throughout the holiday period. 

The company on Friday posted better-than-forecast third-quarter earnings.

2. Ross Stores ROST | Down 6.2%

Shares of Ross Stores  (ROST) – Get Ross Stores, Inc. Report dropped the apparel retailer reported said supply-chain issues were worsening its holiday quarter. 

The company reported stronger-than-expected fiscal third-quarter results.

3. Applied Materials AMAT | Down 4%

Shares of Applied Materials  (AMAT) – Get Applied Materials, Inc. Report struggled after the semiconductor-equipment maker missed fourth-quarter earnings and revenue and issued weaker-than-forecast revenue guidance for first-quarter sales.

President and Chief Executive Gary Dickerson said its supply chain cannot keep up with demand for semiconductors.

“Demand for semiconductors and equipment continues to grow as the pandemic accelerates digital transformation of the economy, and currently, our supply chain cannot keep up,” said Dickerson in a statement. 

“We expect supply shortages of certain silicon components to persist in the near-term, and managing these constraints in partnership with our suppliers and chipmakers is our top priority,” he added.

4. Boeing BA | Down 5.6%

Shares of aviation major Boeing  (BA) – Get Boeing Company Report traded 5% lower Friday bringing the Dow Jones Industrial Average down by 275 points.

The Wall Street Journal reported that the aviation company has further slowed production of 787 Dreamliners to address defects, thereby delaying deliveries of new jets.

5. Chevron CVX | Down 2.16%

Shares of Chevron  (CVX) – Get Chevron Corporation Report took a beating Friday after crude oil prices were slapped down by fears that rising covid cases in Europe will drive down demand.