Why Booking Holdings, Exelixis, and L Brands Slumped Today

Wall Street had another good session on Thursday, with further gains for major markets as benchmarks like the Russell 2000index of small-cap stocks flirted with record highs. A favorable reading from the consumer price index showed only modest growth in prices, and the idea that inflation remains in check led market participants to believe that the Federal Reserve won't have to speed up its efforts to return short-term interest rates to more normal levels.

Yet even with the overall market picking up ground, some companies had bad news that weighed on their share prices. Booking Holdings (NASDAQ: BKNG), Exelixis (NASDAQ: EXEL), and L Brands (NYSE: LB)were among the worst performers on the day. Here's why they did so poorly.