Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Today's 3 Best Stocks

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

The pendulum swung against the broad-based S&P 500 (SNPINDEX: ^GSPC  ) yet again today in spite of a lack of high-importance economic data.

On the bright side, the Mortgage Brokers Association announced that mortgage applications increased 5% last week, signaling potentially positive news for banks who generate loans and the homebuilders who rely on low lending rates to drive new home purchases.

However, the MBA's data wasn't nearly enough to save a market that has mounting concerns over how and when the Federal Reserve will begin paring back its monthly $85 billion bond-buying program; how Japan will reignite its economy; if China can reverse its trend of falling GDP growth; and whether Europe has any chance of demonstrating growth in the next couple of years with austerity measures now firmly in place across the region.

When all was said and done, the S&P 500 shed 13.61 points (-0.84%) to close at 1,612.52. Despite the negativity, three companies managed to decisively buck the downdraft and head higher.

Topping the list, by far, is natural gas assets company Spectra Energy (NYSE: SE  ) . Spectra soared 11.1% after announcing plans to drop down its remaining U.S. storage and transmission assets to its master limited partnership, Spectra Energy Partners (NYSE: SEP  ) , by the end of 2013. As outlined by Spectra Energy CEO Greg Ebel, the move will allow for bigger dividend payouts for Spectra Energy and Spectra Energy Partners shareholders. According to Ebel, Spectra Energy's target increase would move from $0.08 to $0.12 every year, while Spectra Energy Partners' distribution would increase by $0.01 each quarter instead of the current three-quarters of a penny. I'd say that certainly sounds like a win-win scenario for both parties.

Hewlett-Packard (NYSE: HPQ  ) shares advanced 2.8% following comments made by CEO Meg Whitman that HP could experience revenue growth in 2014, but that it would all depend on how the PC market responds. HP is still in the midst of a massive turnaround which involves shedding 29,000 jobs in order to trim more than $3 billion in annual expenses that I'd speculate isn't even halfway complete. With the PC market showing no signs of firming and HP already way off its lows, I wouldn't place too much stock in Whitman's optimism just yet.

Finally, medical device maker St. Jude Medical (NYSE: STJ  ) tacked on 1.9% following the approval of two new heart devices by the Food and Drug Administration. As noted by my Foolish colleague Dan Carroll, the FDA approved its Ellipse implantable cardioverter defibrillator and its Assura cardiac resynchronization therapy defibrillator. This is important news for St. Jude since its cardiac rhythm management segment actually delivered a decline of 6% in sales last quarter because of ongoing procedural weakness. An aging population certainly bodes well for St. Jude's future, but it'll need procedures to grow if it has any shot of boosting its bottom line.

Can this turnaround stick?
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.

Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2486466, ~/Articles/ArticleHandler.aspx, 9/24/2016 7:14:08 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 21 hours ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:55 PM
^GSPC $2164.69 Down -12.49 -0.57%
S&P 500 INDEX CAPS Rating: No stars
HPQ $15.09 Down -0.03 -0.20%
HP CAPS Rating: ***
SE $42.31 Down -0.17 -0.40%
Spectra Energy CAPS Rating: *****
STJ $79.64 Up +0.03 +0.04%
St. Jude Medical CAPS Rating: **
SEP $44.46 Up +0.03 +0.07%
Spectra Energy Par… CAPS Rating: ****