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The S&P 500 (SP500) slid nearly 3% for February, final figures showed on Tuesday, eating into the solid gains it had made in the first month of the new year.
Sentiment was weighed down by hotter-than-expected inflation data and concerns over the Federal Reserve’s rate hikes. Losses were seen across equities, credit, sovereign bonds and commodities.
Amid the volatility, a few individual constituents of the S&P 500 (SP500) posted the biggest monthly moves in both positive and negative directions.
February’s Top Gainers
Contract manufacturer Catalent (NYSE:CTLT) was the biggest S&P percentage gainer in February, surging 31.3%. The advance has helped the company’s stock post a whopping 51.6% YTD jump up till its closing price on Tuesday, making it one of the top ten best performing names this year with a market cap of at least $10B. Most of CTLT’s gains can be attributed to takeover chatter from companies such as Moderna (NASDAQ:MRNA) and Danaher (DHR).
Electric vehicle (EV) giant Tesla (NASDAQ:TSLA) takes the honors of being the second biggest S&P percentage gainer in February, adding 21.7%. The rally briefly helped CEO Elon Musk return to the status of the world’s richest man. The company on Wednesday held a highly anticipated investor day event, in which it outlined a master plan which included a new manufacturing platform for building next-gen EVs in a more efficient manner.
West Pharmaceutical Services (NYSE:WST) rounded out the top three S&P percentage gainers for February, with a rise of 21.6%. The company earlier this month reported Q4 results that beat estimates and guided full year revenue above consensus. Its board also authorized a $1B share buyback.
February’s Top Losers
Telecom firm Lumen Technologies (NYSE:LUMN) was the top S&P percentage loser in February, sliding 37.2%. A chunk of the losses was due to a disappointing EBITDA and cash flow guidance, which overshadowed a $223M defense contract received by the company earlier in the month.
Vaccine maker Moderna (MRNA) was the second biggest S&P percentage loser in February, ending the month 25% lower. The retreat comes amid a huge decline in COVID-19 cases and deaths, which in turn affected MRNA’s COVID vaccine sales. It reported a gloomy Q4 report last week, with a significant fall in both earnings and revenue.
Dating platform Match Group (NASDAQ:MTCH) slipped 20.6% in February and was the third biggest S&P percentage loser. The Tinder-owner’s results and forecast earlier this month failed to cheer investors. The company also said it would cut 8% of its workforce.
Also read a detailed report on the S&P 500’s (SP500) February performance.
