The Big Dow Winners Today
The Dow Jones Industrial Average managed to move higher again today, pushing its winning streak for the second day, as it closed the day at 13,471, up 80 points, or 0.6%. Of the 30 stocks which make up the Dow, only five of them ended the day in the red. Three of the big losers this afternoon where Microsoft , Coca-Cola , and Wal-Mart . Read about why those stocks fell today by clicking here. Or to read about three of today's biggest winners, which were Hewlett-Packard , Bank of America , and Verizon continue reading below.
So why were they higher?
Shares of Hewlett-Packard again managed to post not only a winning day, but became the second best-performing Dow component after rising 2.71%. The personal computer manufacturer was hammered last year, as the stock fell nearly 50%, but since the start of 2013, the company's share price is up 9.77%. As individual investors and large portfolio managers readjust their holdings, it seems as if Hewlett-Packard has been picked as a winner in 2013. But the winning trend may not last for long; it was just reported this afternoon that PC sales fell by 6.4% in the fourth quarter. Additionally, 2012 full-year sales dropped for the first time since 2001.
Shares of Bank of America managed to become the best Dow performer, after rising by 3.06%. Earlier in the week, the bank announced that it would be paying some hefty fines to the government because of foreclosure and mortgage practices which the bank has found itself in since the financial crisis. Although Bank of America will pay more than $10 billion in total fines and fees, that number is smaller than what some had predicted. Now that the bank can put these issues behind itself, shareholders have less liability to worry about.
Shares of Verizon ended the day up 1.37%. With its partner Coinstar , the company recently launched Redbox Instant, an online streaming video service. Currently, the program is in a testing phase, but the companies believe the business has the potential to have up to 35 million customers. The $8-$9 monthly subscription will give customers unlimited streaming, plus four DVD's a month from a Redbox kiosk.
More foolish insight
The massive wave of mobile computing has done much to unseat the major players in the PC market, including venerable technology names like Hewlett-Packard. However, HP's rapidly shifting its strategy under the new leadership of CEO Meg Whitman. But does this make HP one of the least-appreciated turnaround stories on the market, or is this a minor blip on its road to irrelevance? The Motley Fool's technology analyst details exactly what investors need to know about HP in our new premium research report. Just click here now to get your copy today.
The article The Big Dow Winners Today originally appeared on Fool.com.Matt Thalman owns shares of Bank of America and Microsoft. Follow Matt on Twitter @mthalman5513. The Motley Fool recommends The Coca-Cola Company. The Motley Fool owns shares of Bank of America and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.