Normally, I would not post so soon but the market has done an about face (again) and I wanted to take a glance. The stocks I suggested buying were Bank of America (BAC), Citigroup (C), General Electric (GE), BP (BP), Goldman Sachs (GS) and Transocean (RIG).
Since that post BP has shut down its nightmarish Gulf of Mexico oil leak, and Goldman has settled with the SEC for the sum of $550 million admitting a lot of faults but no guilt. All of these stocks have been on the rise with the market, but have they beaten the market?
The following are the closing prices as of July 16, 2010 followed by yesterday's closing prices.
- Bank of America: $13.98 moved up to $14.19, a gain of 1.5%
- Citigroup: $3.90 grew to $4.14, a gain of 6.15%
- General Electric: $14.55 extended to $16.48, gaining 13.26%
- BP: $37.10 progressed to $39.39, a fearless gain of 6.17%
- Goldman Sachs: $146.17 popped up to $156.41, adding 7%
- Transocean: $52.08 climbed to $53.56, for a gain of 2.48%
The market is down in morning trading. However, RIG and BP are up. Last night RIG announced lower earnings, but beat the street and it is shining this morning.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture and planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: He owns shares and/or options in all of the stocks mentioned.