Blue chip stocks suffered their fifth loss in a row Thursday, after upbeat economic data continued to fuel worries that the Fed will soon start to withdraw it stimulus efforts.
The Dow Jones Industrial Average fell more than 68 points, or 0.4% to close at 15,821.5, while the S&P 500 retreated 7.78 points, or 0.4% to end at 1,785.03.
And the Nasdaq Composite dropped 4.8 points, or 0.12% to close the day at 4,033.16.
Stocks lost their footing after initial claims for unemployment benefits fell more than expected and the Commerce Department said the U.S. economy expanded faster than initially thought in the third quarter.
Data reports issued so far this week have included better-than-expected readings from the labor market and manufacturers, reigniting�concerns that the Federal Reserve could start reducing its $85-billion-a-month bond-purchase program as early as this month.
The Fed�� easy money policies have been credited with fueling the 2013 stock market rally. Investors worry the gains may not prove sustainable if the Fed eases back its bond buying prematurely.
Top Transportation Stocks To Invest In Right Now: International Business Machines Corporation(IBM)
International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. Its Global Technology Services segment provides IT infrastructure and business process services, including strategic outsourcing, process, integrated technology, and maintenance services, as well as technology-based support services. The company?s Global Business Services segment offers consulting and systems integration, and application management services. Its Software segment offers middleware and operating systems software, such as WebSphere software to integrate and manage business processes; information management software for database and enterprise content management, information integration, data warehousing, business analytics and intelligence, performance management, and predictive analytics; Tivoli software for identity management, data security, storage management, and datacenter automation; Lotus software for collaboration, messaging, and so cial networking; rational software to support software development for IT and embedded systems; business intelligence software, which provides querying and forecasting tools; SPSS predictive analytics software to predict outcomes and act on that insight; and operating systems software. Its Systems and Technology segment provides computing and storage solutions, including servers, disk and tape storage systems and software, point-of-sale retail systems, and microelectronics. The company?s Global Financing segment provides lease and loan financing to end users and internal clients; commercial financing to dealers and remarketers of IT products; and remanufacturing and remarketing services. It serves financial services, public, industrial, distribution, communications, and general business sectors. The company was formerly known as Computing-Tabulating-Recording Co. and changed its name to International Business Machines Corporation in 1924. IBM was founded in 1910 and is based in Armonk, New York.
Advisors' Opinion:- [By Anders Bylund]
Tech stocks scored an unfortunate hat trick by claiming the three worst performances on today's Dow. Hewlett-Packard (NYSE: HPQ ) has dropped 7%, Microsoft (NASDAQ: MSFT ) has lost 5% of its value, and Intel (NASDAQ: INTC ) has taken a 2.7% haircut. No other Dow stock has plunged anywhere near as much. IBM (NYSE: IBM ) was spared from this bloodbath, instead rising 0.3%.
- [By Monica Gerson]
International Business Machines (NYSE: IBM) is expected to post its Q3 earnings at $3.96 per share on revenue of $24.75 billion.
ASML Holding NV (NASDAQ: ASML) is estimated to report its Q3 earnings at $0.73 per share on revenue of $1.76 billion.
- [By Laura Brodbeck]
Next week investors will be waiting for several key earnings reports including General Electric Company (NYSE: GE), Verizon Communications Inc. (NYSE: VZ), International Business Machines Corp. (NYSE: IBM), eBay Inc (NASDAQ: EBAY) and Netflix, Inc. (NASDAQ: NFLX).
- [By Alex Planes]
I can speak computer. Can you?
IBM (NYSE: IBM ) released the first FORTRAN compiler to the public on April 19, 1957. The first trial run, at Westinghouse, produced an error message due to a missing comma, and from there on the language would spread rapidly throughout the field of high-performance computing, much of which used IBM mainframes and was thus already well-equipped to use it.
Top 5 Blue Chip Companies For 2014: Apple Inc.(AAPL)
Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication and media devices, and portable digital music players, as well as sells related software, services, peripherals, networking solutions, and third-party digital content and applications worldwide. The company sells its products worldwide through its online stores, retail stores, direct sales force, third-party wholesalers, resellers, and value-added resellers. In addition, it sells third-party Mac, iPhone, iPad, and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and other accessories and peripherals through its online and retail stores; and digital content and applications through the iTunes Store. The company sells its products to consumer, small and mid-sized business, education, enterprise, government, and creative markets. As of September 25, 2010, it had 317 retail stores, including 233 stores in the United States and 84 stores internationally. The company, formerly known as Apple Computer, Inc., was founded in 1976 and is headquartered in Cupertino, California.
Advisors' Opinion:- [By Jonas Elmerraji]
Apple (AAPL) has had a less impressive run in 2013. Shares of the tech behemoth are down around 6% since the calendar flipped over to January -- not horrific performance unless you consider the fact that the S&P 500 has gained more than 18% over that period. Ouch.
But Apple's bear run looks like it's nearing an end thanks to a multi-month breakout above the $460 level. Apple is breaking out of a double bottom pattern, a setup formed by two swing lows that take place at approximately the same price level. In AAPL's case, those swing lows bottomed out in late April and late June, and this week's breakout signals a buy.
Whenever you're looking at any technical price pattern, it's critical to think in terms of buyers and sellers. Rectangles, double bottoms and other price pattern names are a good quick way to explain what's going on in this stock, but they're not the reason it's tradable. Instead, it all comes down to supply and demand for shares.
That resistance line at $14.50, for example, is a price at which there was an excess of supply of shares; in other words, it's a place where sellers had been more eager to take recent gains and sell their shares than buyers were to buy. That's what made the move above it so significant -- the breakout indicated that buyers are finally strong enough to absorb all of the excess supply above that price level.
If you jump in here, I'd recommend putting a protective stop just below the 50-day moving average.
- [By Chris Neiger]
Google (NASDAQ: GOOG ) just announced this week at the D11 conference that its subsidiary, Motorola Mobility, will release a new high-end phone later this year. The new phone will compete with Samsung's Galaxy S4 and Apple's (NASDAQ: AAPL ) iPhone -- two very tough competitors.
- [By Daniel Sparks and Rex Moore]
Apple (NASDAQ: AAPL ) shares are up about 18% since the company announced its second-quarter earnings a few weeks ago. The jump is most likely inspired by the company's aggressive boost to its share-repurchase program. The stock was definitely cheap before the company announced its second-quarter earnings, but is it still cheap? More importantly, is the stock a buy?
Top 5 Blue Chip Companies For 2014: Colgate-Palmolive Company(CL)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and markets consumer products worldwide. It offers oral care products, including toothpaste, toothbrushes, and mouth rinses, as well as dental floss and pharmaceutical products for dentists and other oral health professionals; personal care products, such as liquid hand soap, shower gels, bar soaps, deodorants, antiperspirants, shampoos, and conditioners; and home care products comprising laundry and dishwashing detergents, fabric conditioners, household cleaners, bleaches, dishwashing liquids, and oil soaps. The company offers its oral, personal, and home care products under the Colgate Total, Colgate Max Fresh, Colgate 360 Advisors' Opinion:
- [By Wallace Witkowski]
Other earnings highlights in the coming week include Dow components McDonald�� Corp. (MCD) , DuPont (DD) , AT&T Inc. (T) , and Procter & Gamble Co. (PG) . Notable S&P 500 companies include Halliburton Co. (HAL) , Netflix Inc. (NFLX) �, Amgen Inc. (AMGN) �, TripAdvisor Inc. (TRIP) �, Amazon.com Inc. (AMZN) �, Colgate-Palmolive Co. (CL) �, Ford Motor Co. (F) �, Dow Chemical Co. (DOW) �, and United Parcel Service Inc. (UPS) �
- [By Laura Brodbeck]
Friday
Earnings Expected From: Bristol-Myers Squibb Company (NYSE: BMY), Colgate-Palmolive Company (NYSE: CL), Cabot Oil & Gas Corporation (NYSE: COG), Ford Motor Company (NYSE: F), Ericsson (NASDAQ: ERIC), Moody’s Corporation (NYSE: MCO), Procter & Gamble Company (NYSE: PG), Shire plc (NASDAQ: SHPG) Economic Releases Expected: German consumer confidence, Italian retail sales, British GDP, U.S. new home salesPosted-In: Earnings News Previews Top Stories Economics Pre-Market Outlook Markets Trading Ideas Best of Benzinga
- [By James Well]
Analysts��Consensus Position on Pfizer
Thirteen analysts including those at TheStreet, Thomson Reuters/Verus, Goldman Sachs, J.P. Morgan, Barclays Capital, Morgan Stanley and Argus Research are optimistic about the performance of Pfizer going forward and, hence, reiterated a consensus buy recommendation at an average target price of $31.78 per share. Last Wednesday, analysts at Goldman Sachs removed Pfizer from Goldman�� conviction buy list (CL) where Pfizer has been since Aug. 9, 2011, and placed it on the buy list but raised its price target from $34 to $35 per share. Jami Rubin, an analyst with Goldman Sachs, claimed that Pfizer has gone up by 82.5% since being added to the CL as against 53.9% for the S&P 500 during the period and, therefore, there was the need to replace Pfizer with AbbVie at a price target of $60 because they claimed AbbVie has greater upside at this time.
Top 5 Blue Chip Companies For 2014: McDonald's Corporation(MCD)
McDonald?s Corporation, together with its subsidiaries, operates as a worldwide foodservice retailer. It franchises and operates McDonald?s restaurants that offer various food items, soft drinks, coffee, and other beverages. As of December 31, 2009, the company operated 32,478 restaurants in 117 countries, of which 26,216 were operated by franchisees; and 6,262 were operated by the company. McDonald?s Corporation was founded in 1948 and is based in Oak Brook, Illinois.
Advisors' Opinion:- [By Eric Volkman]
McDonald's (NYSE: MCD ) is serving up another dividend. The company has declared its latest quarterly payout, which amounts to $0.77 per share. This will be paid on June 17 to shareholders of record as of June 3. That amount matches each of the firm's previous two distributions, the most recent of which was handed out in mid-March. Prior to that, it paid $0.70 per share.�
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