The

Dow Jones Industrial Average

(

^DJI

) closed down 26.0 points (-0.2%) at 12,393. During the day, 699 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 728.7 million. The NYSE advances/declines ratio closed at 1,442 issues advancing vs. 1,557 declining with 131 unchanged.

The Dow component that led the way higher today was

Chevron

(NYSE:

CVX

), which sported a 65-cent gain (+0.7%) bringing the stock to $98.28. Volume for Chevron ended the day at 7.3 million shares traded vs. an average daily trading volume of 6.7 million shares.

Chevron has a market cap of $197.74 billion and is part of the

basic materials

sector and

energy

industry. Shares are down 5.8% year to date as of Wednesday's close. The stock's dividend yield sits at 3.6%.

Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. The company has a P/E ratio of 7.4, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Chevron as a

buy

. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

Holding the Dow back today was

International Business Machines

(NYSE:

IBM

), which lagged the broader Dow index with a $1.63 decline (-0.8%) bringing the stock to $192.90. This single loss is lowering the Dow Jones Industrial Average by 12.34 points or roughly accounting for 47.5% of the Dow's overall loss. Volume for International Business Machines ended the day at 8.5 million shares traded vs. an average daily trading volume of four million shares.

International Business Machines has a market cap of $226.61 billion and is part of the

technology

sector and

computer hardware

industry. Shares are up 6.8% year to date as of Wednesday's close. The stock's dividend yield sits at 1.7%.

International Business Machines Corporation provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. The company has a P/E ratio of 14.7, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates International Business Machines as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated.

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