Dow Today: Boeing (BA) Leads The Day Higher, International Business Machines (IBM) Lags
The Dow component that led the way higher today was Boeing (NYSE:BA), which sported a $1.50 gain (+1.3%) bringing the stock to $119.84. Holding the Dow back today was International Business Machines (NYSE:IBM), which lagged the broader Dow index with a $1.67 decline (-0.9%) bringing the stock to $184.30.
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 75.0 points (-0.5%) at 16,368. During the day, 307.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 305.8 million. The NYSE advances/declines ratio closed at 1,414 issues advancing vs. 1,656 declining with 109 unchanged.
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The Dow component that led the way higher today was Boeing (NYSE: BA), which sported a $1.50 gain (+1.3%) bringing the stock to $119.84. Volume for Boeing ended the day at 4.6 million shares traded vs. an average daily trading volume of 4.1 million shares. Boeing has a market cap of $87.39 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are down 13.3% year-to-date as of Wednesday's close. The stock's dividend yield sits at 2.4%. The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. TheStreet Ratings rates Boeing as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins.