Alexandria, VA (June 12, 1998) --The Drip Port's stocks were relatively quiet this week considering that the stock market got hammered. At first, this might be considered a positive thing (and in one way it is), but actually we'd rather pay lower prices for our shares over the next several months, so maybe we should talk our stocks down.
Intel -- horrible company. Johnson & Johnson -- who ever heard of it? Campbell Soup -- no staying power!
Intel (Nasdaq: INTC) suffered the most this week, falling close to its 52-week low. The Drip Port didn't buy any shares last month, but we might buy a smidge in July (probably the minimum -- $25). This week Intel announced that several faster microprocessors are hitting the market. The company will release a 450 MHz Pentium II in the near future -- it currently sells 350 MHz and 400 MHz versions. Also, a 300 MHz version of its cheap Celeron chip will be available soon.
In addition, the Pentium II Xeon processor will be available later this month. This processor is an advanced high-end product that will replace the Pentium Pro. It offers leadership performance and scalability for manufacturers designing workstations and servers. You don't need one for your kid's computer.
Our two other holdings were quiet this week. Paine Webber downgraded Johnson & Johnson (NYSE: JNJ) on Monday from "buy" to "attractive," but the stock has risen since.
The Past Week. Dale took us far this week, first covering Charlotte, North Carolina banks on Monday when he tackled First Union (NYSE: FTU) and NationsBank (NYSE: NB). There's great quality in the Charlotte banks, in Dale's opinion, and it's selling at a discount. These should make the Final Six list.
On Tuesday we skirted up to the land of "clam chowdah" as Dale covered BankBoston (NYSE: BKB), a company that also made the second round. Will it achieve Final Six status? Dale's column shares that it's a very strong possibility. For the reasons why, please see Tuesday's write-up.
Both Wednesday and Thursday provided excellent overviews of Merrill Lynch (NYSE: MER). Though this company doesn't currently offer a DRP, the lessons from looking at this behemoth can be applied to other companies. I never thought I'd know so much about Merrill -- some good, some bad.
Finally, Friday's Fool Port column considers what it takes to become investors. You could say that we're not even investors in our companies yet here in the Drip Port. We will be, though.