From Yahoo Finance: 2025-04-11 05:46:00

On Thursday, the stock market plummeted after President Trump raised tariffs on Chinese goods. The Nasdaq fell 4.31%, the S&P 500 dropped 3.46%, and the Dow Jones was down 2.50%. Ten companies saw double-digit losses as investors sought to minimize risks amid uncertainties.

Patterson-UTI Energy Inc. (PTEN) saw a 14.79% drop in share prices on Thursday, closing at $5.59 per share. The decline was attributed to lower crude oil prices and concerns over reduced energy demand due to the escalating trade war. PTEN is a leading oilfield services provider offering drilling and equipment rental services.

In the latest earnings report, Patterson-UTI Energy, Inc. (PTEN) reported a net loss of $51.58 million in the fourth quarter of 2024, a significant reversal from the $61.95 million net income in the same period the previous year. The company also experienced a net loss of $968 million in 2024 compared to a $246.3-million net income in 2023.

Despite its potential, PTEN ranked third on the list of stocks heavily sold down on Thursday. Investors are turning to AI stocks for higher returns in a shorter time frame. Consider exploring AI stocks with promising growth potential, trading at less than 5 times earnings, for better investment opportunities.

Read more: Why Patterson-UTI Energy Inc. (PTEN) Went Down On Thursday?