Three companies on the NASDAQ are down over 10% in the last one-month period. The companies include Tractor Supply Co. (TSCO), which is down 18.74%; Cognizant Tech Solutions (CTSH), which is down 13.75%; and Mylan (MYL), which is down 10.84%.
Each of these companies have had a turbulent year, and in the last 30-day period, they’re down for the following reasons:
1. Tractor Supply Company
The company’s sales have struggled as of late. The company’s sales growth is expected to reach 4.2% – 5.0%, but comparable stores growth is expected to fall to -1%. The agricultural and energy sectors caused headwinds for the company.
Lower net sales projects from $6.8 – $6.9 billion down to $6.70 – $6.75 billion have further caused investors to lose confidence in the company.
The company recently purchased Petsense, LLC. In a deal valued at $116 million. The deal includes 136 stores and will allow the company to enhance their growth.
2. Cognizant Technology Solutions
Cognizant is at the center of several class action lawsuits for possible violations of security laws. The company’s stock is down after it revealed they were in the midst of an internal probe into potential bribery in India.
The company appointed Rajeev Mehta as president after Gordon Coburn stepped down.
Coburn left during the investigation, which tanked the company’s stock further. The company is investigating “improper payments” at their offices in India.
3. Mylan
Mylan stock is up over 8.46% today, but the company has been under fire over the sharp increase in the company’s EpiPen products. The company’s rise today comes hours after the announcement that it has settled with the U.S. Department of Justice on charges that the company overcharged the government.
The company agreed to pay $465 million to settle the charges.
Mylan has been the center of negative press after increasing their prices by over 600% for the lifesaving EpiPen product.
