CYH - Hot Stocks: HCA sparks hospital sell-off; GPS hits low; CRSR plunges; SIVB rallies on earnings; BCBP sets high
Stocks recorded another day of substantial losses on Friday, dragged down by concerns that the Federal Reserve will accelerate its rate-hiking plans. The Dow dropped almost 1,000 points, as the major U.S. equity averages fell to their lowest levels since mid-March. Health care stocks were among the worst performers on the day, with hospital names in the vanguard of the retreat. The slide came as HCA (NYSE:HCA) lowered its 2022 forecast, prompting massive losses for itself and peers like Community Health Systems (CYH), Tenet Healthcare (THC) and Universal Health Services (UHS). Corsair Gaming (CRSR) represented another standout decliner. Shares dropped following the release of disappointing preliminary revenue. Gap (GPS) plunged as well, dragged down by the departure of the head of its struggling Old Navy unit. Shares of the retailer lost almost a fifth of their value, falling to a new 52-week low. A couple of bank stocks posted notable
For further details see:
Hot Stocks: HCA sparks hospital sell-off; GPS hits low; CRSR plunges; SIVB rallies on earnings; BCBP sets high