The Dow Jones Industrial Average
But not all Dow stocks got hammered. Three names, in fact, actually bucked the broader market decline:
Company |
Price Change |
---|---|
Travelers | 3.8% |
Verizon | 1.3% |
General Electric | 0.2% |
Travelers is up after the company reported higher earnings per share, even though the gain was mostly due to a smaller share count. Still, the company topped analyst estimates, raised its dividend, and -- most importantly -- indicated that rates may be on the increase after a period of soft insurance pricing.
Verizon announced strong subscriber growth of about half a million. What's more, iPhone sales, which have been hurting Verizon and AT&T's margins, slowed. I've previously argued that the iPhone's increasing popularity constitutes a major long-term threat to wireless carries, so strong non-iPhone growth comes as a welcome sign. Earnings grew to $0.59 per share from $0.51 per share in the same period last year.
Shares of General Electric rose slightly in the lead-up to the company's earnings report tomorrow morning. Revenue is expected to fall some 10%, but analysts expect the company to earn $0.33 per share -- up from $0.23 in the first quarter of 2011.
While long-term investors don't need to sweat the day-to-day price fluctuations of earnings season, this time of the year can provide serious bargain opportunities for investors. So keep an eye on the stocks you own -- and those you want to own.
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