Today marked the final trading day of the third quarter, and selling was a central theme following yesterday’s euphoric reaction to the latest in a string of global bailouts.
Looking at some of the stock-specific movers making headlines. Nike (NKE) shares ended lower following the company’s latest earnings results. If you remember, the company warned its numbers would be weak last quarter, and the stock sold off back then as well. Moving in the opposite direction on better-than-expected earnings news were shares of consultant giant Accenture (ACN), which also raised its dividend payout rather handsomely.
Elsewhere, Wall Street analyst moves are certainly abundant. Bucking the early selling were shares of Cisco Systems (CSCO) and Deere & Co. (DE), as both names moved up on the backs of positive analyst commentary. Not faring as well and moving lower on cautious analyst notes were shares of McDonald’s (MCD), Ross Stores (ROST), and DuPont (DD).Now I Know Where the Market Anxiety Comes From
Every once in a while, we’ll receive an email here at Dividend.com from a panicky subscriber who recently bought a stock we recommend, only to see the shares fall a buck or so after buying it. I always scratch my head in these situations, since a relatively small short-term drop shouldn’t be enough to give dividend investors any anxiety. Upon examining some recent calls by mainstream Wall Street analysts, however, I now better understand the culture of fear surrounding one-day price moves.
For example, check out the following analyst call this morning on McCormick & Company (MKC):
“…We do not think that MKC’s story is broken but rather think that mgmt is prudently cautious…”
Oh, really? You don’t think MKC’s story is broken? The stock pulled back just 2% yesterday and currently sits only $2 off ALL-TIME HIGHS. Thanks for the revelation!
Folks, pay attention closely and try try understand what is news and what isn’t. Adding drama is a common ingredient to business reporting these days. Please don’t let it affect your long-term vision on accumulating quality dividend-paying stocks that can help build you a hefty nest egg in the years to come.Grabbing the Microphone
It’s tough being a New York Jets fan these days, as the team continues to struggle to find any sort of consistency. Unfortunately the only area the team does show consistency in is boasting. Whether it’s their head coach Rex Ryan proclaiming the team has a top-five defense, or how this is the best team he has have ever coached, or Antonio Cromartie proclaiming he is the best cornerback in the league now that teammate Darrelle Revis suffered a season-ending knee injury, the Jets always seem to be digging themselves some kind of hole. It’s easy to see how the team has become one of the NFL’s most hated. This fact doesn’t sit well with me, especially when all the talking doesn’t correlate with winning championships.
Remember, people that achieve true success are rarely the ones boasting the most. Most real successes simply let their work speak for themselves. When looking at your own career, I can offer no better advice than to just put your head down and get things done. For would-be entrepreneurs who keep complaining about their everyday jobs, either step up and make things happen or give it a rest. We could all do with less noise and more results, if you ask me.A Look to Next Week and a Weekend Preview
Looking ahead to next week, third quarter earnings will continue to be very light, but we will get results from companies such as Yum Brands (YUM), Monsanto (MON), and Marriott International (MAR). The focus will also continue to be on the economic data as well as the latest Wall Street analyst calls.
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