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The S&P 500 (SP500) fell nearly 3% in February, final figures showed Tuesday, absorbing strong gains it had made in the first month of the new year.
The feeling was heavy better-than-expected inflation data and concerns about Federal Reserve rate hikes. Losses were observed in stocks, credit, sovereign bonds and raw materials.
Amid the volatility, individual components of the S&P 500 (SP500) posted the largest monthly moves in both positive and negative directions.
February’s Top Winners
Contract Manufacturer Catalent (NYSE:CTLT) was the biggest S&P percentage gainer in February, increasing 31.3%. The advance has helped the company’s shares post a whopping 51.6% year-to-date jump to its closing price on Tuesday, making it one of the top ten best-performing names this year with a capitalization of market of at least 10,000 million dollars. Most of CTLT’s gains can be attributed to takeover talk from companies like 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. On Wednesday, the company held a highly anticipated investor day event, in which he outlined a master plan that included a new manufacturing platform to build next-generation electric vehicles more efficiently.
Western Pharmaceutical Services (New York Stock Exchange:WST) rounded out the top three S&P percentage gainers for February, with a rise of 21.6%. Earlier this month, the company reported fourth-quarter results that beat estimates and guided full-year revenue above consensus. Its board of directors also authorized a $1B share buyback.
February’s Biggest Losers
Telecommunications company Lumen Technologies (New York Stock Exchange: LUMN) was the top percentage loser on the S&P in February, sliding 37.2%. A portion of the losses was due to disappointing EBITDA and cash flow guidance, which dwarfed a $223 million defense contract received by the company earlier in the month.
Vaccine maker Moderna (MRNA) was the S&P’s second-biggest percentage loser in February, at the end of the month. 25% lower. The recall comes amid a large decline in COVID-19 cases and deaths, which in turn affected sales of MRNA’s COVID vaccines. It reported a dismal Q4 report last week, with both profit and revenue down significantly.
Match Group Dating Platform (NASDAQ:MTCH) slipped 20.6% in February and was the S&P’s third-biggest percentage loser. The Tinder owner’s results and forecast earlier this month failed to buoy investors. The company also said it would cut 8% of its workforce.
Also read a detailed report on the February performance of the S&P 500 (SP500).
