Somewhat surprising, Microsoft Corp. (NASDAQ: MSFT) is the best performing Dow stock. Microsoft reported earnings Thursday after the close. While the software giant beat estimates, it gave a poor outlook and the stock was initially hammered down some 6% at the open. It now (10:56) trades down only 1.12%.
Not surprising, the worst stock of the Dow is General Motors Corp. (NYSE: GM). GM has announced further job cuts Thursday and is still trying to merge with Chrysler. From its end, Chrysler has also announced job cuts and plant closures. Today, there has been some talk regarding GM looking to the government to help with its planned merger. Still, GM's financial health is highly questionable by investors and barring intervention, this company may not survive long. GM shares were down 13.4% as of 10.55 am.
Wal-Mart Stores Inc. (NYSE: WMT), McDonald's Corp. (NYSE: MCD) and Boeing Co. (NYSE: BA) are the other best performer in the DJIA.
Wal-Mart has been hailed as a defensive retailer for a while now, with investors betting shoppers would turn more and more to Wal-Mart stores for the cheaper prices as the economy slumps further. WMT shares were down 2.1% as of 10:56 am.
There's a similar argument going on with McDonald's, with many assuming it would become the restaurant of choice for the cash-strapped consumer. McDonald's just reported earnings on Wednesday, posting an 11% rise in profits and beating estimates. MCD shares were down 2.3% as of 10:53 am.
Boeing might be the surprise here. It also reported earnings Wednesday, which missed estimates due to its machinists strike. Talks to end the strike resumed Thursday and perhaps something is moving there that helps keep the stock from declining further.
Other stocks that are now starting to recover include 3M Co. (NYSE: MMM) -- down 2.05% as of 10:59 am -- and Coca Cola (NYSE: KO) -- down 1.93% as of 11:02 am.
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