3 Stocks Avoiding the Dow Crash
Markets plunged today, as all three major indexes saw significant declines approaching 1%. The Dow Jones Industrial Average's (INDEX: ^DJI) 0.82% plunge marks its third 100-plus-point decline in as many days as Europe's slow-motion car wreck continues to hit innocent bystanders. Only four Dow components ended with gains; however, none of them moved higher on any company-specific news.
The Nasdaq saw an even worse 0.94% decline, but it wasn't all bad news for the index. GeoEye (NAS: GEOY) climbed another 11.5% as investors gain increased confidence in the success of DigitalGlobe's (NYS: DGI) $900 million offer. GeoEye recently tried to buy its would-be acquirer for $800 million, but after losing out on a government contract the tables turned. Cost savings should be significant, so this looks like a good deal for the satellite-imagery company. The market thought so, too, sending shares of DigitalGlobe up 16.8%.
After hours, Riverbed Technology (NAS: RVBD) has popped more than 20% upon releasing great second-quarter results and more importantly raising its forecast for Q3. This earnings season has gotten to such a bumpy start, just affirming forecasts is a call for celebration. Riverbed also inked a $75 million deal with Juniper Networks to license application boosting products.
Finally, apparel maker Under Armour (NYS: UA) popped 9% after beating the street in part to a 44% increase in footwear sales. The company also tacked on $200 million to its full-year forecast. This will be a company investors should watch going into what is typically the stronger part of the year for Under Armour.
In tumultuous times like these, it's important to have solid blue chip companies with dependable dividends. Fortunately, the Dow is loaded with companies with solid dividend payouts and highly sustainable business models built for the long haul. The 3 Dow Stocks Dividend Investors Need all have an X factor that makes them stand out from their illustrious Dow peers. Download our special free report on these three companies.
The article 3 Stocks Avoiding the Dow Crash originally appeared on Fool.com.
David Williamsonholds no position in any company mentioned. Check out hisholdings and a short bio. The Motley Fool owns shares of Under Armour and Riverbed Technology.Motley Fool newsletter serviceshave recommended buying shares of Riverbed Technology, GeoEye, and Under Armour, creating a bear put spread position in Under Armour, and creating a synthetic long position in Riverbed Technology. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days. The Motley Fool has adisclosure policy.
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