The 3 Biggest Dow Winners Today
The Dow Jones Industrial Average (INDEX: ^DJI) closed basically flat -- again. But there were a few interesting pieces of news and a few moderately large gainers:
|Bank of America (NYS: BAC)||1.1%|
|Cisco (NAS: CSCO)||1.1%|
|American Express (NYS: AXP)||1%|
As foreshadowed by reports of strong demand for switches in recent weeks, Cisco announced strong second-quarter earnings today. Earnings per share grew more than 17% to $0.47 per share, while revenue grew 4%. Cisco's CEO called the quarter "unusually strong," and investors will want to keep an eye on whether Cisco's continues to show steady improvement, or whether the great quarter was a one-time thing -- particularly in light of Europe's recession.
There was only a bit of news to justify Bank of America and American Express' gains today. The National Association of Homebuilders' sentiment index rose slightly, and industrial production in August rose 0.6% from July. Steady improvement in the housing market and anything suggestive of jobs and income growth can be considered good signs for large mortgage and consumer lenders like B of A and AmEx.
Bank of America, Cisco, and American Express all beat the market, but as investors it's also important for us to remember to keep our eyes on long-term performance. If you're looking for some more stock ideas, The Motley Fool recently highlighted "The 3 Dow Stocks Dividend Investors Need." You can get the full scoop on these three promising Dow dividend dynamos.
The article The 3 Biggest Dow Winners Today originally appeared on Fool.com.Ilan Moscovitzdoesn't own shares of any companies mentioned. The Motley Fool owns shares of Cisco Systems and Bank of America.Motley Fool newsletter serviceshave recommended creating a write covered strangle position in American Express. 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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