25 Worst-Performing Stocks of the Past Decade
FeaturingNo. 25: Fannie Mae
Current Stock Quote: FNMPrice on 6/30/98: $60.75
Price on 6/30/08: $19.51
10-Year Return: -68%
In a Nutshell: This mortgage buyer's problems started long before anyone heard of subprime. But it was the subprime mess that left the government no choice but to finally "rescue" Fannie and her brother Freddie. FNM is now double its 52-week low of $6.68, set about two weeks ago.
· More on Fannie Mae's Stock
Next: Worst Stock No. 24
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No. 24: KeyCorp
Current Stock Quote: KEYPrice on 6/30/98: $35.62
Price on 6/30/08: $10.98
10-Year Return: -69%
In a Nutshell: This financial services company, parent of KeyBank, experienced its massive decline in market value only since February 2007. Prior to that it enjoyed a long and steady climb. These days KEY trades near $12, recovering from the $7.93 low set July 15 after it reported a narrower loss than Wall Street expected.
· More on KeyCorp's Stock
Next: Worst Stock No. 23
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No. 23: Gannett Co.
Current Stock Quote: GCIPrice on 6/30/98: $71.06
Price on 6/30/08: $21.67
10-Year Return: -70%
In a Nutshell: As readers began defecting from traditional print media toward Internet-based alternatives, Gannett began its long slide despite peaking in 2004. Gannett's performance since then can best be described as "prolonged death throes." GCI shares have not stopped on their way down, trading around $18.25 these days.
· More on Gannett Co.'s Stock
Next: Worst Stock No. 22
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No. 22: Interpublic Group
Current Stock Quote: IPGPrice on 6/30/98: $30.34
Price on 6/30/08: $8.60
10-Year Return: -72%
In a Nutshell: Once the "brand steward" for Coca-Cola Classic, the economic slowdown in the early 2000s and the ensuing accounting fiasco hit this Madison Avenue icon hard. IPG shares continue to decline and trade at $7.80 these days.
· More on Interpublic Group's Stock
Next: Worst Stock No. 21
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No. 21: Dillard's Inc.
Current Stock Quote: DDSPrice on 6/30/98: $41.43
Price on 6/30/08: $11.57
10-Year Return: -72%
In a Nutshell: After slowly recovering from the last recession and its stock peaking in May 2007, this mid-market department store once again was recently hurt by yet another economic slowdown. With discretionary income shrinking and consumer spending declining, it is no wonder DDS has taken a hit.
· More on Dillard's Stock
Next: Worst Stock No. 20
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No. 20: Goodyear Tire & Rubber
Current Stock Quote: GTPrice on 6/30/98: $64.43
Price on 6/30/08: $17.83
10-Year Return: -72%
In a Nutshell: Problems just keep compounding for this once-member of the Dow Jones Industrial Average. From questionable acquisitions to improper accounting practices, the company has recently also been hurt by the weakness in the auto market on the one hand and rising costs on the other.
· More on Goodyear's Stock
Next: Worst Stock No. 19
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No. 19: Tenet Healthcare
Current Stock Quote: THCPrice on 6/30/98: $20.83
Price on 6/30/08: $5.56
10-Year Return: -73%
In a Nutshell: After Tenet was charged with Medicare fraud in 2002 the stock price took a dive from which it never recovered. The Justice Department then slapped this healthcare services company with a $323-million lawsuit in 2003, and the stock price has just kept dropping since.
· More on Tenet Healthcare's Stock
Next: Worst Stock No. 18
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No. 18: Xerox Corporation
Current Stock Quote: XRXPrice on 6/30/98: $50.81
Price on 6/30/08: $13.56
10-Year Return: -73%
In a Nutshell: Paper? Isn't that passe? Indeed, Xerox shares endured severe sell-offs thanks to an earnings losing streak due to fundamental woes. However, signs of growth are peeking through the past few quarters as the company wants to prove it is no longer the outdated copier company of yesterday.
· More on Xerox's Stock
Next: Worst Stock No. 17
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No. 17: Wachovia Corporation
Current Stock Quote: WBPrice on 6/30/98: $58.25
Price on 6/30/08: $15.53
10-Year Return: -73%
In a Nutshell: Until the subprime mess hit most financials, Wachovia even looked promising. But in 2007, a ruthless credit crunch forced Wachovia to the Federal Reserve's discount window along with its cash-strapped peers.
· More on Wachovia's Stock
Next: Worst Stock No. 16
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No. 16: Fifth Third Bancorp
Current Stock Quote: FITBPrice on 6/30/98: $42.00
Price on 6/30/08: $10.18
10-Year Return: -76%
In a Nutshell: Fifth Third can't just blame the recent turmoil in financial markets for its trouble. The stock of this diversified financial services company started its decline long before, in 2002. An SEC investigation, a Justice Department lawsuit and shrinking deposits are just some of its woes. FITB recently traded around $13.80.
· More on Fifth Third Bancorp's Stock
Next: Worst Stock No. 15
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No. 15: First Horizon
Current Stock Quote: FHNPrice on 6/30/98: $31.56
Price on 6/30/08: $7.43
10-Year Return: -76%
In a Nutshell: This regional bank first revealed mortgage-related weakness in August 2006. Sharp losses caused sharp selloffs and no one seems to know what lies ahead for the parent of First Tennessee Bank.
· More on First Horizon's Stock
Next: Worst Stock No. 14
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No. 14: Huntington Bancshares Incorporated
Current Stock Quote: HBANPrice on 6/30/98: $25.16
Price on 6/30/08: $5.77
10-Year Return: -77%
In a Nutshell: Huntington started to feel the pain of subprime-gone-wrong as early as July 2007. Since then, HBAN stock shed 81%. While its own outlook is still cautious, Huntington has shown signs of recovery recently and its stock has traded around $7.
· More on Huntington's Stock
Next: Worst Stock No. 13
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No. 13: Qwest Communications International
Current Stock Quote: QPrice on 6/30/98: $17.43
Price on 6/30/08: $3.93
10-Year Return: -77%
In a Nutshell: What could go wrong with a communication company? Well, this provider of voice, data, Internet and video services suffered from unfortunate acquisitions and partnerships, even with Enron, which caused the stock's decline starting back in 2000. It hasn't recovered since.
· More on Qwest's Stock
Next: Worst Stock No. 12
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No. 12: General Motors
Current Stock Quote: GMPrice on 6/30/98: $55.26
Price on 6/30/08: $11.50
10-Year Return: -79%
In a Nutshell: The once "world's largest automaker" finds its title recently challenged by Japanese carmaker Toyota. After peaking in 2000, the stock has been on a long, steady decline. Recently some analysts even questioned its ability to remain solvent.
· More on General Motors' Stock
Next: Worst Stock No. 11
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No. 11: Eastman Kodak
Current Stock Quote: EKPrice on 6/30/98: $73.06
Price on 6/30/08: $14.43
10-Year Return: -80%
In a Nutshell: Kodak has struggled as the world of photography changed from print to digital. Although news of a $1-billion stock buyback program boosted the stock in June, its long decline is not expected to stop unless a fundamental change occurs.
· More on Eastman Kodak's Stock
Next: Worst Stock No. 10
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No. 10: JDS Uniphase
Current Stock Quote: JDSUPrice on 6/30/98: $62.78
Price on 6/30/08: $11.36
10-Year Return: -82%
In a Nutshell: As a major supplier of components for fiber-optic networks, JDS Uniphase could serve as the poster child for the collapse of telecom. The stock peaked in March 2000, then collapsed, never to return to its glory days.
· More on JDS Uniphase's Stock
Next: Worst Stock No. 9
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No. 9: Washington Mutual
Current Stock Quote: WMPrice on 6/30/98: $28.95
Price on 6/30/08: $4.93
10-Year Return: -83%
In a Nutshell: The endearingly nicknamed bank, WaMu, was doing just fine until the subprime mess, credit crunch and economic woes hit it in the spring of 2007. While several banks caught a break in the recent earnings period, Washington Mutual wasn't one of them. The stock is trading at $3.70 today.
· More on Washington Mutual's Stock
Next: Worst Stock No. 8
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No. 8: Ford Motor Company
Current Stock Quote: FPrice on 6/30/98: $32.32
Price on 6/30/08: $4.81
10-Year Return: -85%
In a Nutshell: The once second-largest automaker was pushed to third place by Toyota and shared its American rival's fate. While Ford and GM's problems started long ago, the recent increase in gas prices and shifting consumer preferences hasn't helped. Its only hope is adapting quickly to consumer demands.
· More on Ford Motor's Stock
Next: Worst Stock No. 7
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No. 7: Unisys Corporation
Current Stock Quote: UISPrice on 6/30/98: $28.25
Price on 6/30/08: $3.95
10-Year Return: -86%
In a Nutshell: The shares of this IT solution services company peaked in 1999, but have been mostly declining since. Once the company started reporting lackluster earnings, it seemed it never recovered. With no fundamental change, the pattern of lackluster earnings continues and the stock suffers. UIS trades around $3.50.
· More on Unisys's Stock
Next: Worst Stock No. 6
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No. 6: National City Corp.
Current Stock Quote: NCCPrice on 6/30/98: $35.50
Price on 6/30/08: $4.77
10-Year Return: -87%
In a Nutshell: National City is yet another regional bank on this list of worst performers -- another bank hit by the subprime mortgage mess and the ensuing credit crunch following. Too bad, since NCC previously had a nice long-term uptrend. Recently, though, it got a boost from the sector-wide bounce, despite some remaining issues.
· More on National City's Stock
Next: Worst Stock No. 5
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No. 5: Tellabs Inc.
Current Stock Quote: TLABPrice on 6/30/98: $35.81
Price on 6/30/08: $4.65
10-Year Return: -87%
In a Nutshell: Add Tellabs to the list of casualties from the Great Telecom Bust of the new millennium. Since then, the stock has yet to break out of its long-term downtrend, and doesn't look like it will be doing so in the near future.
· More on Tellabs Inc.'s Stock
Next: Worst Stock No. 4
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No. 4: MGIC Investment Corp.
Current Stock Quote: MTGPrice on 6/30/98: $57.06
Price on 6/30/08: $6.11
10-Year Return: -89%
In a Nutshell: Mortgage Guaranty Investment Corporation's (MGIC) cause of decline is implied by its name -- the subprime mortgage meltdown. Before that, until mid-2007, things were going just fine for the Milwaukee-based firm. MGIC will likely not return to profitability before 2009, and in the meantime its stock suffers.
· More on MGIC Investment's Stock
Next: Worst Stock No. 3
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No. 3: Ciena Corporation
Current Stock Quote: CIENPrice on 6/30/98: $243.68
Price on 6/30/08: $23.17
10-Year Return: -90%
In a Nutshell: Ciena is joining the rest of the telecom-related companies in this list that suffered during the dot-com bust. Its stock peaked in 2000, and tumbled ever since. Losses have continued to roll in for years, but more recently, Ciena's performance has improved. Wall Street, though, may not be so quick to forgive and forget.
· More on Ciena's Stock
Next: Worst Stock No. 2
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No. 2: MBIA Inc.
Current Stock Quote: MBIPrice on 6/30/98: $49.91
Price on 6/30/08: $4.39
10-Year Return: -91%
In a Nutshell: Let's just say that there may be no worse business to be in than mortgage bond insurance in 2008. That's why MBIA is floundering. Recent credit rating downgrades are putting it in perilous financial shape.
· More on MBIA Inc.'s Stock
Next: Worst Stock No. 1
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No. 1: Ambac Financial
Current Stock Quote: ABKPrice on 6/30/98: $39.00
Price on 6/30/08: $1.34
10-Year Return: -97%
In a Nutshell: All bond insurers have been hammered by the subprime mortgage mess. But Ambac Financial Group was doubly slammed by getting downgraded by rating agencies and booted out of the S&P 500 in June. Its stock is now just around $2.50 a share.
· More on Ambac's Stock
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