Investors Pick Philip Morris, but AmBev Outpaces the 52-Week Highs

NEW YORK (TheStreet) -- A roster of large cap stocks hit fresh annual share price heights in the trading week ended Sept. 10, and TheStreet asked readers to vote on which 52-week-high stock would outperform. Readers overwhelmingly tapped Philip Morris International (PM) as the blue chip to outpace the group but Companhia de Bebidas das Americas (ABV), a Brazilian beer brewer known simply as AmBev, came out ahead.

Some 45% of readers had predicted that Philip Morris would outpace the group, while just 3.1% of voters correctly picked AmBev to outperform this past week.

McDonald's (MCD) came in second place, with 28% of the votes. Next was Vodafone Group (VOD), with 6% of the votes, British American Tobacco (BTI) 4.5%, Anheuser-Busch Inbev (BUD) 3.8%, Ecopetrol (EC) 3.8%, Cnooc Limited (CEO) 2.8%, Novo Nordisk (NVO) 2.4% and Ntt DoCoMo (DCM) 0.3%.

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AmBev shares traded up 4.1% this week, closing Friday at $120.08.

Earlier this month, Brazil reported a better-than-expected second quarter GDP growth of 8.8% year-over-year and a seasonally adjusted annual rate (SAAR) of 5.1%, outstripping expectations.

The strong growth rate prompted Roubini Global Economics to revise its 2010 growth forecast to 7.5% from 7.25% to 7.75%. However, growth has cooled from 9% year over year and 11.3% SAAR during the first quarter of 2010.

According to the Brazilian Central Bank, the country will record economic growth of 6.3% this year and 4.5% in 2011. Playing host to the 2014 FIFA World Cup and the 2016 Olympics, private and public sector spending in Brazil is bound accelerate beginning this year.

Meanwhile, Philip Morris, TheStreet's top pick for the week, gained 1% over the past five trading sessions, to close Friday at $55.12.

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