Effectively undoing all the damage done to the market on Tuesday, the S&P 500 snapped back to a close of 2123.48, 0.92% higher than Tuesday’s closing level, while the NASDAQ Composite’s close of 5106.59 was the highest close in year, near the record high of 5132 set in March of 2000.

Not all stocks moved to within record-breaking prices, though. In fact, Check Point Software Technologies Ltd. (NASDAQ:CHKP), Avon Products, Inc. (NYSE:AVP) and Michael Kors Holdings Ltd (NYSE:KORS) all moved decidedly lower. Here’s what you should know:

Michael Kors Holdings (KORS)

As if owners haven’t been punished enough since March of last year, KORS dished out another disappointing quarterly report today, and followed-up by posting an equally disappointing outlook for the current year. The news was bad enough to send KORS down 24% on Wednesday alone, the worst single-day showing for KORS stock ever.

The bad news: The company’s fourth quarter revenue figure “only” grew 18%. Yes, it’s a disappointment relative to the 30%+ growth rates the label has KORS owners to expect over the course of its first three years as a publicly-traded company.

Even worse, Michael Kors expects a profit of somewhere between 74 cents and 78 cents per share for the current quarter, on revenue between $930 million and $950 million. Analysts were collectively expecting earnings of $1.03 per share of KORS on $1.09 billion in sales.

But perhaps the most damning aspect of last quarter was same-store sales, which swung from a 6% growth rate in the firscal third-quarter to a 6.7% decline in the fiscal fourth quarter.

KORS is now valued at less than half of its peak value hit just a little over a year ago.

Avon Products (AVP)

Every day Avon doesn’t find a suitor is another day it takes a step towards the edge of a cliff. AVP stock briefly rocketed 20% higher two weeks ago on news of a buyout bid, but it turned out to be fake — there really wasn’t one.

No buyer today either.

Indeed, today’s near-3% drop from AVP stock has put it back within reach of new 52-week lows. Today’s drop also extends what’s now become a two-year rout, from a peak of $24.53 in May of 2013 to today’s closing price near $6.68… a 73% loss.

Yikes.

Don’t look for a specific catalyst for today’s lull; you won’t find one because there wasn’t one. The market simply knows AVP is more of a liability than an asset, and becomes a bigger risk every day it can’t do some sort of deal to stop its bleeding. The trouble for Avon though is, who wants to adopt a dog with fleas?

Check Point Software Technologies (CHKP)

In light of news reports this morning that the IRS has now become a  victim of computer hackers, one would think cybersecurity stocks like CHKP would soar today as the need for such services was underscored. One would be wrong, however. CHKP actually ended the day down by more than 2%, spurred lower by a downgrade from Morgan Stanley.

Morgan Stanley’s analyst explained:

“With the firewall refresh cycle peaking, subscription revenue growth likely to slow and margins moving lower, we see risk of slowing EPS growth at CHKP.”

Morgan Stanley now rates CHKP an “underweight”, down from its “equalweight” rating.

While Wednesday afternoon’s earnings report (which will have been posted by the time you’re reading this) may change today’s fortune for CHKP stock, Morgan Stanley’s skeptical outlook was enough to send shares lower in trading today.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities.