Market Wrap-Up for June 7 (CVS, WAG, BMY, GIS, FCX, DE, X, more)

By Staff,

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We can sometimes get surprised by the timing of Wall Street calls, but it is something investors need to recognize when looking to invest for one's own portfolio.

Goldman Sachs downgraded BP Plc ( BP ) to a neutral from a buy this morning. The stock has already been hit hard (doesn't necessarly mean the stock is one going down either), but why not an earlier downgrade. Who knows?, but investors need to take charge of their stock holdings at times and not wait for Wall Street to finally tell you when to get out or when to get in. We do our best to make the best timely calls we can make, without any potential bias overhang that can sometimes occur on Wall Street. The BP call is just one example. At the end of the day, no one firm or money manager will be perfect, but sometimes investors need to understand you can take action before the big boys on Wall Street finally come around to telling you something may be wrong with a company. Paying attention is what we do and we will continue to do as best as possible.

As for today's market, the early bounce gave way to some heavier selling in the afternoon. We spent a lot of time this weekend analyzing potential further moves with our recommended list. We'll be sure to alert subscribers if there are any changes to the recommended list that we decide to make. Shares of CVS Caremark ( CVS ) fell after Walgreen Co. ( WAG ) decided to forego its current PBM deal with the company from here on in.

Elsewhere, shares of Bristol-Myers ( BMY ) rose after some positive healthcare conference data was released this past weekend. Defensive names like General Mills ( GIS ) and Kimberly-Clark ( KMB ) were able to buck the selling. On the flipside, commodity names traded lower, led by U.S. Steel ( X ) and Freeport McMoran ( FCX ) . Also in the red were names like Deere ( DE ) and Cummins Inc. ( CMI ) .

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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