As might be expected in a falling market, safe haven stocks moved up the ranking, which helped Coca-Cola, McDonald’s, and P&G. In general, tech stocks dropped down the list after Cisco posted earnings that were below Wall St. expectations
| Company | Rank (last week) | Symbol | Comment | |
|---|---|---|---|---|
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Coca-Cola | 1 (5) | KO | Status as “safe haven” helps shares during last week. Recovery of European economy should help sales in key markets. |
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Disney | 2 (9) | DIS | Monster earnings led by big numbers from ESPN and the company’s movie studio. Establishes Mouse as No. 1 media company. |
| McDonald’s | 3 (1) | MCD | Another important “safe haven” stock with high dividend and share buyback. July same-store sales soar. | |
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Proctor & Gamble | 4 (3) | PG | Upgraded by Argus Research. seen taking share as Colgate and J&J falter. |
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Apple | 5 (2) | APPL | New study shows iPhone users would be attracted by Verizon Wireless service, a sign that non-exclusive distribution would benefit. |
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Berkshire Hathaway | 6 (7) | BRK | Many Buffett stocks well prepared for economic slowdown. Diversity of portfolio also a plus. |
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IBM | 7 (4) | IBM | Growing concern that IT spending will slow. IBM probably better positioned with product mix and international distribution than most rivals. |
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Ford | 8 (8) | F | Likely value of GM IPO shows that Pony company may be undervalued. GM profit also a sign of domestic industry health. |
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Intel | 9 (6) | INTC | Concerns that PC and IT sales will slow, but most recent data show server purchases are OK now. |
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Abbott Labs | 10 (12) | ABT | Shares perform DJIA last week. Medical device business not likely to be hurt badly as government expenditure on health rises. |
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Philip Morris | 11 (10) | PM | Shares move toward 52-week high as money rushes into strong balance sheet stocks. Smokers can’t kick the habit, even in a recession. |
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Cisco | 12 (11) | CSCO | Wall St. disappointed the router firm did not offer better forecasts, but earnings were impressive. |
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Oracle | 13 (13) | ORCL | Another tech company that may be hurt by slow corporate spending, but IP suite against Google could get Ellison a piece of smart phone software industry. |
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14 (15) | GOOG | Android mobile OS passes Apple product. Google threat of software IP suit from Oracle may be substantial. | |
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Pfizer | 15 (14) | PFE | Dividend now 4.4%. Stock better investment than DJIA recently. Pharma not likely to be badly hurt by slowing GDP. |
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Microsoft | 16 (17) | MSFT | Standout sales from Xbox 360 in July. Current quarter PC sales likely to keep driving Windows 7. |
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Exxon-Mobil | 17 (19) | XOM | Still moving ahead with promising Qatar oil facility. Should benefit this quarter from $75 crude. Cash-flow attractive to investors. |
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Wal-Mart | 18 (16) | WMT | Market very concerned about retail sales in the second half. Upcoming earnings expected to show rebound in US sales. |
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FedEx | 19(18) | FDX | Slowing economy likely to take tool on multinational shipping. Shares down 8% last week. |
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Dow Chemical | 20 (20) | DOW | S&P revises view of debt to “stable” based on earnings. Still vulnerable to a drop in corporate spending. |
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Caterpillar | 21 (21) | CAT | Data about China manufacturing drop dings stock and US infrastructure spending likely to slow. |
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GE | 22 (23) | GE | Growing backlog of aircraft orders should help jet air group and coming government spending in medical should help company’s equipment supply division. |
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Boeing | 23 (22) | BA | Aircraft makers drop on economy long-term threat to order but backlog should sustain them for several quarters. |
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Verizon | 24 (24) | VZ | Data confirms position as best-regarded cellular provider. May be closer to offering iPhone, but in the meantime, new Android handsets sell well. |
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Goldman Sachs | 25 (26) | GS | JP Morgan Chase. Jobless rate news threatens, but JPM is in a lot of non-consumer businesses. |
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JP Morgan | 26 (25) | JPM | Some rivals begin layoffs spreading concern that institutional banking could be hurt by the economy. |
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Johnson & Johnson | 27 (28) | JNJ | Takes double hit on retail sales fall-off and growing unemployment. Defaults likely to spike again. |
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AT&T | 28 (27) | T | Another round of research critical of company’s3G network. Once iPhone exclusive is gone, a lot of customers will go with it. |
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Hewlett-Packard | 29 (30) | HPQ | Still on the ropes due to CEO firing Rival Cisco weak forecasts do not help. |
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American Express | 30 (31) | AXP | Takes double hit on retail sales fall-off and growing unemployment. Defaults likely to spike again. |
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Bank of America | 31 (29) | BAC | Likely to be hit by credit cards defaults, mortgage write-offs, and commercial banking slowdown as GDP cools. |
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Home Depot | 32 (32) | HD | Another set of data show housing market still weakening along with jobs. Retail sales also off. |
Douglas A. McIntyre
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