5 Stocks Pushing the Dow Toward Record Levels

Investing

Published: April 9, 2016 9:05 am

Last Updated: January 13, 2020 10:59 am

If the Dow Jones Industrial Average (DJIA) passes its previous record high of 18,292 set last April, five stocks likely will be the engine. While the Dow currently trades at 17,577, up less than 1% for the year, three Dow stocks are up by double-digit percentages.

3M Co. (NYSE: MMM) has risen 10.6% to $166.63. Its dividend yield is 2.4%. Management recently said GAAP earnings for this year would rise to $8.10 to $8.45 per share, an increase of 7% to 11%. Management was bold enough to set a goal out five years. It expected earnings to grow 8% to 10% a year.

Shares of Wal-Mart Stores Inc. (NYSE: WMT) have risen 11.03% to $68.06. The world largest retailer is an unlikely candidate for an improved stock price. Its same-store sales have barely risen, both in the United States and overseas. Wall Street’s perception is that Amazon.com will continue to damage Wal-Mart’s prospects. On the other hand, the retailer continues to have the leverage of its brand and 11,865 stores. And Wal-Mart appears to have had success pushing into China.

At $58.12, Verizon Communications Inc. (NYSE: VZ) shares are up 12.89% for the year. The company holds a dominant spot in U.S. cellular market, the telecom industry’s largest segment. And it has successfully challenged cable and satellite television with its move into fiber in the home broadband, television and telephone services.