3 Stocks to Dump After Disastrous Q2 Earnings Results | Markets

Earnings season for this year’s second quarter rolls on. And while the results have been largely better than expected, some prints have been real doozies. Certain companies have seen their share price fall by 15% or more in a single day after they delivered financial results and guidance than fell short of Wall Street expectations.

According to data from FactSet, a little more than 4o% of companies in the benchmark S&P 500 have reported Q2 results. Of those, 78% have beaten their profit targets and 60% have topped consensus revenue forecasts. FactSet says that we’re currently tracking for earnings growth of nearly 10%. If that proves accurate, it would be the best quarter for earnings growth since the fourth and final quarter of 2021.

Again, while the Q2 financial results have been very good overall, not every company has hit a home run. Many have struck out badly, and their shareholders are paying the price. Let’s examine three stocks to dump after disastrous Q2 earnings results.

Wayfair (W)

Shares of Wayfair (NYSE:W) fell more than 10% after the home-furnishings company reported Q2 financial results that missed Wall Street targets. The company that focuses on online sales of furniture reported EPS of 47 cents. That fell…