Pfizer and 2 Blue Chips Keeping the DJIA Above Water
The Dow Jones Industrial Average (NYSEARCA:DIA) is up today by 0.29% and stands at 12,133. The large stocks below are among the positive performers today.
Pfizer (NYSE:PFE): Pfizer is left in a difficult predicament as it is losing its exclusive rights to Lipitor, and cheaper generic versions are now being approved by the FDA. The company will have to cut its R&D and will be forced to adopt some radical adjustments. On a positive note, the tests for the new bladder medication Toviaz have gone well. PFE shares recently traded at $20.25, up $0.41, or 2.07%. They have traded in a 52-week range of $16.59 to $21.45. Volume today was 25,090,612 shares versus a 3-month average volume of 47,161,300 shares. The company’s trailing P/E is 14.06, while trailing earnings are $1.44 per share.
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3M (NYSE:MMM) The stock is up on positive news coming from an analyst meeting this morning. 3M is calling for EPS and revenues estimates in a range where the street consensus is at the lower end of 3M’s call. MMM shares recently traded at $82.19, up $1.26, or 1.56%. They have traded in a 52-week range of $68.63 to $98.19. Volume today was 3,200,345 shares versus a 3-month average volume of 5,173,590 shares. The company’s trailing P/E is 13.98, while trailing earnings are $5.88 per share.
General Electric (NYSE:GE): Sanford C. Bernstein has raised its expectations for General Electric to Outperform, and raised its price target from $19 to $21. In addition, Bernstein predicts that the Fed will allow GE Capital to offer a dividend once again in 2012. GE shares recently traded at $16.67, up $0.34, or 2.08%. They have traded in a 52-week range of $14.02 to $21.65. Volume today was 38,490,723 shares versus a 3-month average volume of 70,820,000 shares. The company’s trailing P/E is 12.75, while trailing earnings are $1.31 per share.
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