The S&P 500 Index had a strong performance in June, with a cybersecurity stock emerging as the top gainer for the month. The cybersecurity company gained 24% during June, marking its best month since November 2023. This increase was driven by better than expected financial results for the fiscal first quarter, with revenue rising 34% from the previous year and adjusted earnings surpassing forecasts.
Other top performers in June included Carnival, Adobe, Autodesk, and Oracle. NVIDIA, a leading chip stock in the AI space, lagged behind the top five with a 13% increase for the month, despite a 150% increase for the year.
On the other hand, Bath and Body Works was the worst performer on the index in June, falling 25% and marking its worst month since June 2022. The decline followed the company beating quarterly earnings and sales estimates but issuing disappointing guidance. Analysts remain optimistic about the stock’s performance, attributing the pullback to crowded earnings expectations.
Other poor performers in June included Walgreens Boots Alliance, Albermarle, Enphase Energy, and Fitness. Overall, the S&P 500 Index showed strong performance in June, with cybersecurity and chip stocks leading the pack in gains, while retail and energy stocks faced challenges.
Article Source
https://www.barrons.com/amp/articles/crowdstrike-stock-bath-body-works-nvidia-june-best-worst-27d0ee95