You can't put one in your holster yet, but they have done it. The Raytheon Company (NYSE: RTN) has brought H. G. Wells' science fiction invention of the ray gun to reality as an advanced missile defense system.

The first serious battlefield ray gun is now being deployed. And the next generation, now in the laboratory, is coming soon.

It was last July when I posted Chasing Value: Raytheon says 'Game on' highlighting the stock. It was one of this year's picks, and while down, it has out performed the market. I liked it last year, I liked it mid-year and I still like it. The company is a leader in missile defense systems and civilian airport radar and monitoring systems.

I don't think I can count how many times I have heard in my career "you can always count on Coca-Cola, no matter what condition the economy is in." It's as true today as ever. With the markets reacting in a volatile manner, globally, Coca-Cola Co. (NYSE: KO) is as solid as a rock. This $125 billion market capitalization company is only $2 off of its 52-week high of $56.71. The dividend yield is a solid 2.5% and Coca-Cola has a nice history of raising the payout.

Coca-Cola is one of the world's most recognizable brands. Coca-Cola was a global company before most of us knew what "globalization" meant. It is one of the United States most important exports. Besides the flagship product of Coke, the company also markets consumer favorites like Diet Coke, Fanta and Sprite. Latley, the company has expanded its product offerings to include bottled water as health-conscious consumers have gravitated to this sector of the beverage industry. Coke has successfully diversified its revenue and earnings base by expanding to this valuable part of the industry.

The amazing aspect to the Coca-Cola story is how professional portfolio managers view this company. The revenue and earnings growth rates are only about 10%, but yet Coca-Cola sports a hefty price-earnings multiple of 24 times. Portfolio managers have such confidence in the quarterly performance of Coca-Cola and the absolute consistency of its numbers that many refer to Coca-Cola as "the sleep well stock." This means they do not have to worry quarter-in and quarter-out about Coca-Cola achieving stated expectations: it's virtually automatic.