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The Zacks Analyst Blog Highlights: Bank Of America, Chevron, Exxon Mobil, Johnson & Johnson And McDonald

Published 07/24/2016, 09:30 PM
Updated 07/09/2023, 06:31 AM

For Immediate Release

Chicago, IL – July 25, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Bank of America Corp (NYSE:BAC) (BAC), Chevron Corp. (NYSE:CVX) (CVX), Exxon Mobil Corp (NYSE:XOM). (XOM), Johnson & Johnson (NYSE:JNJ) (JNJ) and McDonald's Corporation (NYSE:MCD) ( MCD).

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Here are highlights from Friday’s Analyst Blog:

Dow 30 Stock Roundup: Earnings Galore

The Dow managed to hit new session highs on the first three days of the week before declining on Thursday. The index gained only marginally during each of these trading sessions but still managed to post a record seven straight session long winning streak. Major components posted commendable earnings results before disappointing revenues from an iconic chipmaker pushed the index lower on Thursday. The Dow has gained 0.4% over the first four trading days of the week.

Last Week’s Performance

The index inched up, increasing 0.05%, to notch up a record closing high for the fourth-straight session on Friday following upbeat U.S. retail sales data. Sales at retail stores and restaurants advanced 0.6% in June from the prior month to a seasonally adjusted $456.98 billion. Sales were mostly led by a jump of 3.9% in building and supply stores, its largest one-month increase since Apr 2010.

The positive retail sales report offset disappointing earnings results from big banks. Meanwhile, industrial output expanded at the fastest monthly rate in 11 months. Industrial output increased 0.6% following a decline of 0.3% in May. Industrial output bounced back last month after a downturn over the past 18 months mostly due to weak overseas demand for many products and a stronger dollar.

The Dow surged 2% over last week. Markets had suffered a bloodbath after the surprise Brexit verdict. But benchmarks recovered quickly to hit fresh highs at the end of almost every trading session.

A slew of factors ranging from hints of fresh stimulus measures by the Bank of England and Bank of Japan to stronger-than-expected domestic earnings pushed stocks higher. The uptick also came on the back of a strong jobs and retail sales report, while oil prices also recouped as markets gathered strength.

The Dow This Week

The index increased by nearly 0.1% on Monday boosted by gains in financial and tech shares. Despite this small gain, the blue-chip index again hit an all-time high. Bank of America Corp’s (BAC) upbeat second quarter earnings performance boosted investors’ sentiment and helped bank stocks rally on Monday.

Oil prices fell after a steady rise in crude stockpiles intensified fears of another supply glut. Additionally, an attempted coup in Turkey barely had any influence on Istanbul's Bosphorus Strait as it reopened from a brief closure. The area is known for handling around 3% of global oil shipments. Shares of Chevron Corp. (CVX) and Exxon Mobil Corp. ( XOM) declined 0.9% and 0.3%, respectively.

The index gained 0.1% on Tuesday following Johnson & Johnson’s ( JNJ) commendable quarterly performance. The health-care giant beat expectations and raised its guidance for the year, which eventually helped the Dow post its longest winning streak in three years.

Another Dow component, McDonald's Corporation (MCD) saw its shares advance 2.2% on news that it had closed a deal with Nintendo. The fast food giant is expected to be the first advertiser of the widely popular mobile game Pokémon Go.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.



BANK OF AMER CP (BAC): Free Stock Analysis Report

CHEVRON CORP (CVX): Free Stock Analysis Report

EXXON MOBIL CRP (XOM): Free Stock Analysis Report

JOHNSON & JOHNS (JNJ): Free Stock Analysis Report

MCDONALDS CORP (MCD): Free Stock Analysis Report

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