Merck and 2 Dow Jones Stocks Rallying Hard
The Dow Jones Industrial Average (NYSEARCA:DIA) is up 1.43% and stands at 11,949.98. Today’s Dow winners are listed below.
Cisco (NASDAQ:CSCO) popped 7% in early trading, after reporting results for its first quarter. Net income for the networking and communication devices company fell to $1.78 billion (33 cents per share), compared to $1.93 billion (34 cents per share) a year earlier. This is a decline of 7.9% from the year earlier quarter. The shares recently traded at $18.78, up $1.17, or 6.64%. They have traded in a 52-week range of $13.30 to $24.51. Volume today was 115,688,677 shares versus a 3-month average volume of 66,688,700 shares. The company’s trailing P/E is 16.05, while trailing earnings are $1.17 per share.
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Merck & Co (NYSE:MRK) announced a 10.5% dividend hike for investors. The company will raise its quarterly dividend from 38 cents per share to 42 cents per share. It is Merck’s first dividend hike in 7 years. Shareholders of record as of December 15 will be paid the dividend on January 9. The shares recently traded at $35.00, up $1.21, or 3.58%. They have traded in a 52-week range of $29.47 to $37.65. Volume today was 18,358,030 shares versus a 3-month average volume of 17,987,600 shares. The company’s trailing P/E is 25.66, while trailing earnings are $1.36 per share.
Pfizer (NYSE:PFE) seems to be catching a bid in sympathy with Merck’s huge dividend raise. Shares are up 3.15%. The shares recently traded at $19.86, up $0.52, or 2.69%. They have traded in a 52-week range of $16.25 to $21.45. Volume today was 27,302,012 shares versus a 3-month average volume of 50,904,900 shares. The company’s trailing P/E is 13.83, while trailing earnings are $1.44 per share.