As might be expected HP dropped more than ten spots due to problems caused by the ouster of its CEO Mark Hurd. J&J moved up the list slightly, escaping the basement, as problems with recalls of they company’s OTC drugs lessened.
Google’s prospects improve on a surge of its Android OS for mobile devices which may become the firm’s next big revenue source after its huge search business.
| Company | Rank (last week) | Symbol | Comment | ||
|---|---|---|---|---|---|
| McDonald’s | 1 (1) | MCD | Barron’s says fast food giant is widening its lead of rival Burger King. Most people thought the race was already over. | 1 (1) | |
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Apple | 2 (2) | APPL | Jobs fires executive in charge of iPhone hardware after problems with handset reception. The guilty will go free while the innocent are punished. | 2 (2) |
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Proctor & Gamble | 3 (3) | PG | Company adds to product line and invests in growth despite economic headwinds. | 3 (3) |
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IBM | 4 (4) | IBM | Should be helped by temporary vacuum at top of rival HP. On the other hand, a Big Blue exec might be hired to take former HP CEO’s place. | 4 (4) |
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Coca-Cola | 5 (5) | KO | Company shares are upgraded by JP Morgan. Stock nears 52-week high. | 5 (6) |
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Intel | 6 (7) | INTC | Settles government antitrust charges with no more than a slap on the wrist. | 7 (8) |
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Berkshire Hathaway | 7 (6) | BRK | Earnings off on derivatives investments. Better luck next time, | 6 (5) |
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Ford | 8 (9) | F | Good July US sales. Maybe a little under Wall St estimates but still part of extraordinary run. | 9 (10) |
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Disney | 9 (8) | DIS | Raised ticket prices at theme parks to take more dollar’s from kid’s piggy banks | 8 (7) |
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Philip Morris | 10 (10) | PM | Shares up as market looks for more “safe haven” stocks. | 10 (9) |
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Cisco | 11 (11) | CSCO | Another company that should benefit from HP turmoil | 11 (12) |
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Abbott Labs | 12 (12) | ABT | Firm expects to expand overseas business in attempt to boost earnings | 12 (11) |
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Oracle | 13 (13) | ORCL | Larry Ellison gives billions to charity and watches rival Mark Hurd burn at the stake. | 13 (13) |
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Pfizer | 14 (14) | PFE | CFO says company will push increased presence in developing world to offset slower sales in US. Join the party. | 14 (15) |
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15 (15) | GOOG | Good news—Android doing well. Bad news—kills Wave product. Better off with Android success. Wastes $229 million to buy social network site Slide in effort to compete with Facebook. | 15 (14) | |
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Wal-Mart | 16 (16) | WMT | Rival Target moves into NYC, proof that big box retailers have good chance for urban expansion. | 16 (16) |
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Microsoft | 17 (17) | MSFT | Embarrassed as Google Android thrashes Windows mobile OS. | 17 (18) |
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FedEx | 18 (19) | FDX | Continues strong run with new expansion in Europe. | 19 (19) |
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Exxon-Mobil | 19 (21) | XOM | Business is stronger and BP’s is weaker by the day. XOM likely to get some of UK-based firm’s assets cheap as fire sale continues. | 21 (22) |
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Dow Chemical | 20 (22) | DOW | Good news—profitable. Bad news—less than Wall St. wanted. But problems seem temporary based on production halts at three big plants. | 22 (21) |
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Caterpillar | 21 (23) | CAT | Weakening economy hurts prospects but CAT tries to offset with new acquisitions—latest locomotive maker Electro-Motive Diesel. | 23 (23) |
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Boeing | 22 (24) | BA | Company lost 24 plan orders. Luckily still have huge back log. | 24 (24) |
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GE | 23 (25) | GE | Looks dumb by selling control in NBCU just as advertising market surges back. | 25 (26) |
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Verizon | 24 (26) | VZ | Secret deal with Google on net neutrality falters, but government may have killed it anyway. | 26 (25) |
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JP Morgan | 25 (28) | JPM | JP Morgan Chase. Jobless rate news threatens, but JPM is in a lot of non-consumer businesses. | 28 (29) |
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Goldman Sachs | 26 (27) | GS | Will spin off one of its most profitable businesses—proprietary trading. Sign that firm’s prospects will dim over time. | 27 (27) |
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AT&T | 27 (29) | T | As Google Android gains on Apple iPhone, bad news for Ma Bell and its most popular product. | 29 (31) |
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Johnson & Johnson | 28 (32) | JNJ | Recall news appears to fade. Long-term consequences hard to measure. | 32 (32) |
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Bank of America | 29 (31) | BAC | Housing and employment data hit at heart of largest US consumer bank. | 31 (30) |
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Hewlett-Packard | 30 (18) | HPQ | Hurd’s resignation hurts image and leaves hole at the top that could take months to fill. | 18 (17) |
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American Express | 31 (20) | AXP | Wall St. thought the company’s write off problems were over. Unemployment data shows they may move into double dip. | 20 (20) |
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Home Depot | 32 (30) | HD | Housing market could not be worse | 30 (28) |
-Douglas A. McIntyre
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