The Dow Jones Industrial Average is up 0.20% at 12,930. Stocks edged up slightly Friday, but investors were wary of making big bets heading into a holiday weekend.
Citing strength in the financial arm of General Electric , JPMorgan Chase analyst Steve Tusa kept his Overweight rating on the stock while lifting his price target to $21 from $20 on Friday. The analyst commented that General Electric’s financial arm, known as GECS, “has moved from a drag with capital adequacy concerns to a cash ‘gusher,’ which we believe is being underappreciated in the sum-of-the-parts discussion at GE.” GE shares recently traded at $19.22, up $0.21, or 1.1%. They have traded in a 52-week range of $14.02 to $21.60. Volume today was 34,250,472 shares versus a 3-month average volume of 60,026,200 shares. The company’s trailing P/E is 15.56, while trailing earnings are $1.24 per share.
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Intel Corp : Fusion-IO’s stock surge implies that Intel Corp could be a buyer, as renewed rumors indicate. However the origins of the chatter are obscure. INTC shares recently traded at $27.34, up $0.51, or 1.9%. They have traded in a 52-week range of $19.16 to $27.00. Volume today was 38,989,872 shares versus a 3-month average volume of 48,208,700 shares. The company’s trailing P/E is 11.42, while trailing earnings are $2.39 per share.
E.I. du Pont de Nemours : Announcing streamlined financing for U.S. exporters competing against foreign firms which are afforded “unfair advantages”, White House officials said that President Obama will remain focused on China. DD shares recently traded at $51.44, up $0.91, or 1.8%. They have traded in a 52-week range of $37.10 to $57.00. Volume today was 3,167,796 shares versus a 3-month average volume of 6,166,580 shares. The company’s trailing P/E is 13.98, while trailing earnings are $3.68 per share.
3M : Up to $1 billion in cash has been designated by 3M to be contributed to global pension and post-retirement plans this year. MMM shares recently traded at $87.66, up $0.01, or 0.01%. They have traded in a 52-week range of $68.63 to $98.19. Volume today was 1,296,175 shares versus a 3-month average volume of 3,652,030 shares. The company’s trailing P/E is 14.71, while trailing earnings are $5.96 per share.
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To contact the reporter on this story: Mark Lawson at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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