"We are seeing quality names at fire-sale prices, and I think you must take advantage of that," says income expert Nilus Mattive in Dividend Superstars. Here's a trio of favorites.
"Pfizer (NYSE: PFE) recently reported great third-quarter results. The company tripled its profits from the same period a year ago. While last year's results were hurt by a one-time charge, Pfizer is obviously seeing continued demand for most of its drugs.
"I consider the stock dirt cheap, and while there is a slim chance of a dividend reduction, the shares absolutely belong in your long-term income portfolio at this level.
"I feel the same way about General Electric (NYSE: GE). While profits were down 22% this quarter, the company still boasts a AAA credit rating and a very attractive yield. It is a solid long-term income holding.
"Huaneng Power (NYSE: HNP) has been punished along with the rest of China's stocks. But things are going well on the fundamental front. The company increased its power generation 12.7% in the first three quarters of 2008, and revenues gained 36.8% over the same period a year earlier.
"It may post a loss because coal prices remain elevated, but I remain bullish on the company's long-term prospects, and consider it the best dividend-paying Chinese stock to own."
Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
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Reader Comments (Page 1 of 1)
11-11-2008 @ 1:44PM
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11-11-2008 @ 3:12PM
BHarrison said...
Whoaaa! . . . Is the glass half full or half empty? Is this good news and a good opportunity OR is it the portent of REALLY BAD NEWS? Why would anyone be selling "blue chip" stocks of some of the "better corporations unless these people perceive dire events on the horizon and the need to go to a cash position, in anticipantion of MORE bad events on the stock market.
One man's trash may not be a real "treasure" to another man . . . it may just be trash. As Jim Cramer noted in his blogs, cheap priced stock my not be an "opportunity" if the company is going to fail or suffer severe losses . . . everything is relative. Stock brokers and financial advisors are like real estate sales people . . . they just need the transactions to earn their commissions; and there are no "guarantees" about any advice or recommendations either.
Buyer beware . . . and know what you are getting into. A lot of "blue chip corporations" are failing.
11-11-2008 @ 3:22PM
BHarrison said...
What "if" the majority of the American people "take a vacation" from investing in the stock market . . . who would that actually "hurt"? If the people have their money "in the bank" then the banks have money to loan, right?
So, basically, if most people refrained from "investing in the markets", then it would mostly be the "brokers" and management who would simply not "earn much in the way of commissions and bonuses", right? Oh, the FIs would lose the profits that they skim off by manipulating the markets to their advantages; but that is money they take from the small investors, right?
The corporations stock might, like the over priced mortgages, be adjusted downward to a more realistic level, right? And that would take away the baasis for CEOs and upper management to skim off those obnoxiously exorbitant salaries and bonues . . . which is certainly one adjustment that is needed in the market place. I am willing to bet that there are "competent business people" who would fill the position for a lot less in salaries and bonuses. And the displaced old CORRUPT management can worry about finding another job somewhere else, right? Isn't that the law of "supply and demand"?
11-13-2008 @ 10:46AM
Beltway Greg said...
Yeah I thought GE was a bargain at $25/share until I sold it at $20/share. If anyone really believed this stock was a bargain they'd buy it. The Dow is up today and GE is still selling off. It doesn't take a genius. One can only surmise that the dividend might be in for either suspension or reduction.
Beltway Greg
11-28-2008 @ 7:04PM
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