3 big-name blue chips to sell now
These stocks have shown poor fundamentals.
The stock market had a pretty good run
last week, with the Dow Jones gaining about 3.3%, the S&P 500 adding
+3.5% and the Nasdaq tacking on +4.2%. Favorable corporate earnings
from some blue chip stocks helped lead the charge, and gave way to new
optimism for many stocks. Now we've kicked off this week with some positive momentum too, with the markets struggling to fight into the black for the full year and stay there.
But don’t think this means that the
market is going to be smooth sailing from here on out. The bottom line
is that a number of companies are still struggling, after just posting
poor earnings or issuing warning signs as they approach their earnings
To keep you out of the worst stocks, here are 3 big name blue chips to sell now:
Bank of America (BAC) is a bank holding company, and a financial holding company well known to consumer and investors alike. Even though BAC has managed to stay ahead of the broader markets for most of 2010, sharp drops in shares in recent weeks have caused serious woes for investors.
BP (BP) is one company that hardly needs an introduction, thanks to the recent media frenzy surrounding its disaster in the Gulf of Mexico. As can be expected from such a devastating event, shares for this once titan-of-industry have already fallen -34.8% in the past three months.
Exxon Mobil (XOM) is the largest oil and gas company in the world – and in fact the largest corporation on Wall Street by market cap. Shares have been in a tailspin this year, faring much worse than the market, and Exxon has missed earnings estimates in three of the last four quarterly reports.
For 6 more blue chip stocks to sell, follow the link to the full story.
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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