DJIA Winners: Bank of America and 2 Stocks Avoiding Market Drop
The Dow Jones Industrial Average (NYSEARCA:DIA) is down today by a mere 0.57% and stands at 12,011. The large stocks below are among the positive performers today.
Bank of America Corporation (NYSE:BAC): The decision by Bank of America (NYSE:BAC) to sell its stake in China Construction Bank reflects its dire condition. The decision was likened by one analyst to an individual dipping into his 401K in order to pay the mortgage. Nevertheless, CEO Bryan Moynihan is right to focus on Bank of America’s (NYSE:BAC) survival, even if means sacrificing the company’s long-term profitability. The stock has regained yesterday’s losses.
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Intel (NASDAQ:INTC): In addition to buying a stake in IBM, Warren Buffett is also buying into Intel (NASDAQ:INTC) through Berkshire Hathaway. The stock was up early this morning, and has maintained its strength.
Pfizer (NYSE:PFE): Leernik Swank analyst Seamus Fernandez has downgraded Pfizer (NYSE:PFE) from Outperform to Market Perform. After looking at the new products in the pipeline, Fernandez concluded that both sales and EPS estimates were unlikely to increase enough to justify Pfizer’s outperform status.
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