Investing

11 Blue Chip Stocks That Refuse to Rally With the Market's All-Time Highs

Mylan N.V. (NASDAQ: MYL) was down this week on news of a voluntary recall of some of its injections. That said, Mylan has been in a very tight trading range since mid-June, and the drugmaker really has not seen a recovery like many other drug stocks since the panic selling peaked in March. Mylan was last seen down over 5% in the past month. While it is down about 20% in 2020, the stock’s peak above $22 before February’s sell-off makes this look far worse than the annual reference.

Newell Brands Inc. (NYSE: NWL) has at least managed to recover from its lows of March and May, but the longstanding turnaround stock is having a hard time in this economy. Maybe Newell is still too diversified, or maybe it still needs more targeting of its portfolio of goods and products it sells. In the past month, Newell’s shares are down almost 3%, but the stock just hit a seven-week low, and it was still down about 17% so far in 2020.

Omnicom Group Inc. (NYSE: OMC) is among the largest and greatest advertising agencies out there, but it is at a time when advertising is weak. The stock has largely been range-bound for nearly 90 days and is still barely above its lows from the selling panic in March. Omnicom is down 33% so far in 2020 and up less than 1% over the past month.

Ralph Lauren Corp. (NYSE: RL) has been stuck in a long trading range for most of the time since April, and if people aren’t going back to work for their casual to dressy casual apparel, then their clothes aren’t as useful when the whole nation may be wearing yoga pants and shorts. The maker of Polo is still down 41% year to date and down 3.5% in the past month.

Southern Co. (NYSE: SO) does not seem to have any specific news, but it is among the nation’s top utilities. There is a continued worry that millions of Americans are going to take advantage of the utility companies simply by not paying their bills, since so many utilities have not terminated services for nonpayment. Southern has better than a $50 billion market cap, and if its shares fall much more, it will have a 5% dividend yield. Southern shares are also down 18% year to date and down about 4.5% in the past month.

Walgreens Boot Alliance Inc. (NASDAQ: WBA) just cannot catch a break. Its stock suffered after being added into the Dow. With shares now under $37 apiece, this is even lower than at the peak of the selling panic in March. Investors no longer even care about it offering a 4.9% dividend yield. Walgreens was last seen down over 6% in the past month and down over 35% so far in 2020.

Wells Fargo & Co. (NYSE: WFC) has been the largest disappointment of the money center banks. If anyone seems apt to lose customers to newer fintech players or other banks, Wells Fargo comes to mind. Warren Buffett also just threw a huge portion of his stake into the garbage, after seeing huge gains from years past dwindle.