It was not a great day for the markets after a couple of
economic data points revealed continued weakness.
Money was running into bonds today, as we saw new 52-week highs
being hit. News of Intel (
) making an offer to acquire McAfee (
) this morning got an early buzz happening, but the downbeat
jobless claims and Philly Fed data released overshadowed the
takeover news. Getting back to the takeover, it's interesting for
Intel to be getting out of their skin in a sense with this deal.
The thought must be the ability to capture a larger foothold with
McAfee's corporate Internet security accounts. The deal is
certainly not without risk, which is compounded any time a company
ventures into a new space. We will be watching shares of Intel
closely to see if we spot an opportunity to get back on board - its
3.3%+ yield is intriguing as a leader in its sector.
Elsewhere, earnings in the retail space were numerous today.
Some of the winners included PetSmart (
) , Children's Place (
), and Dollar Tree (
). On the flipside, we finished with red on the screen for Staples
) , Ross Stores (
) , and William Sonoma (
) to name a few.
We saw weakness in the financials today, with Capital One
) and PNC Financial (
) leading the push lower. Volume levels pushed higher today as the
market closed well in the red. The NYSE traded 4.3 Billion shares,
while the NASDAQ traded 2 Billion shares.
We are carefully evaluating our recommended names and are
prepared to make changes if need be. If and when we do, we'll be
sure to alert subscribers. As always, our
Best Dividend Stocks List
is your go-to place for dividend investing ideas. See you
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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