Dow Today: Chevron (CVX) Leads The Day Higher, International Business Machines (IBM) Lags
The Dow component that led the way higher today was Chevron (NYSE:CVX), which sported a 90-cent gain (+0.7%) bringing the stock to $131.29. Holding the Dow back today was International Business Machines (NYSE:IBM), which lagged the broader Dow index with a $1.65 decline (-0.9%) bringing the stock to $190.85.
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. The Dow Jones Industrial Average ( ^DJI) closed down 49.0 points (-0.3%) at 17,051. During the day, 305.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 304.8 million. The NYSE advances/declines ratio closed at 1,125 issues advancing vs. 1,924 declining with 131 unchanged.
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The Dow component that led the way higher today was Chevron (NYSE: CVX), which sported a 90-cent gain (+0.7%) bringing the stock to $131.29. Volume for Chevron ended the day at 3.7 million shares traded vs. an average daily trading volume of 5.5 million shares. Chevron has a market cap of $249.17 billion and is part of the basic materials sector and energy industry. Shares are up 4.1% year-to-date as of Friday's close. The stock's dividend yield sits at 3.3%. Chevron Corporation, through its subsidiaries, is engaged in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments, Upstream and Downstream. TheStreet Ratings rates Chevron as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.