The Dow Jones Industrial Average
Source: Google Finance.
Today's Top 3
- Today's Dow leader was Hewlett-Packard
up 2.61% to $23.63. Tuesday night, the company announced a merger of its flailing PC and printer divisions to cut costs, and the market responded by sending Hewlett-Packard down 4% the next two days. Fool analyst Rich Smith is less than impressed and believes this is little more than trying to make the PC division look better than it really is. The printing division is Hewlett-Packard's strongest business, with a 42% market share. Bargain-hunting investors were probably picking up shares after two straight down days. (NYSE: HPQ)
Bank of America
was second behind Hewlett-Packard today, finishing up 2.6% [$0.25] to end the day at $9.85. Since passing the Federal Reserve's stress test last Tuesday, Bank of America's stock has been on fire, rising 23% since then. For further explanation, see Fool analyst Anand Chokkavelu explain why Bank of America shares are soaring. And you haven't missed the boat on this stock, despite the surge: Fool analyst John Maxfield believes now is the time to buy Bank of America. (NYSE: BAC)
took third for the day, up 1.32% [$1.40] to end at $107.83. The stock has been falling all week over concerns of slowing global growth. Separate purchasing managers' surveys of Europe and China have both pointed to slowing activity in March. The reversal in sentiment today pushed Caterpillar as well as fellow cyclicals Alcoa, Chevron, and DuPont, up for the day. (NYSE: CAT)
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Dan Dzombak holds no position in any company mentioned. Like his Facebook page to follow his investing articles. Motley Fool newsletter services have recommended buying shares of Chevron. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.