The Dow Dazzles — Monday’s IP Market Recap

by Kyle Woodley | March 26, 2012 5:04 pm

IPMarketRecap The Dow Dazzles    Monday's IP Market Recap[1]Federal Reserve Chairman Ben Bernanke on Monday kept investors’ hopes high for a continued low-interest environment, and the markets headed higher, including a 160-point gain for the Dow Jones Industrial Average.

Gains were broad among the Dow components, with American Express (NYSE:AXP[2]) leading its brethren with a 2.5% gain on news the company would hike its dividend for the first time in almost five years. AXP’s quarterly payout will jump 11% to 20 cents per share on May 10 to shareholders of record on April 5, good for a 1.2% yield on its closing price of $58.66.

Other strong Dow performers included financial giant JPMorgan Chase (NYSE:JPM[3], +2.2%) and Walt Disney (NYSE:DIS[4], +1.7%). All but one component was up for the day — Verizon (NYSE:VZ[5]), down just a quarter of a percent.

Far outshining the Dow, though, was automaker Tesla Motors (NASDAQ:TSLA[6]), which gained almost 10% after a Wunderlich Securities analyst upgraded shares from hold to buy with a price target of $49. The analyst cited optimism on production of the company’s Model S sedan. TSLA closed Friday trading around $34 but finished on Monday at an all-time high of $37.40.

One of today’s dimmer stories was Green Mountain Coffee Roasters (NASDAQ:GMCR[7]), which was headed toward slight gains but fell to a 2% decline in the afternoon. The drop came soon after Bloomberg reported[8] that the company’s founder and chairman sold more than $66 million worth of stock just before its plunge sparked by Starbucks’ (NASDAQ:SBUX[9]) announcement of its own single-cup brewer[10].

Three Up

Three Down

Kyle Woodley[17] is the assistant editor of InvestorPlace.com[18]. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here[19].

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. AXP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AXP
  3. JPM: http://studio-5.financialcontent.com/investplace/quote?Symbol=JPM
  4. DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
  5. VZ: http://studio-5.financialcontent.com/investplace/quote?Symbol=VZ
  6. TSLA: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSLA
  7. GMCR: http://studio-5.financialcontent.com/investplace/quote?Symbol=GMCR
  8. reported: http://www.bloomberg.com/news/2012-03-26/green-mountain-founder-sold-stock-before-starbucks-k-cup-threat.html
  9. SBUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SBUX
  10. its own single-cup brewer: http://investorplace.com/2012/03/starbucks-single-serve-coffee-may-kill-green-mountain-sbux-gmcr-keurig-verismo/http:/investorplace.com/2012/03/starbucks-verismo-green-mountain-sbux-gmcr-nestle/
  11. THLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=THLD
  12. LNG: http://studio-5.financialcontent.com/investplace/quote?Symbol=LNG
  13. ODP: http://studio-5.financialcontent.com/investplace/quote?Symbol=ODP
  14. BVSN: http://studio-5.financialcontent.com/investplace/quote?Symbol=BVSN
  15. KBH: http://studio-5.financialcontent.com/investplace/quote?Symbol=KBH
  16. SINA: http://studio-5.financialcontent.com/investplace/quote?Symbol=SINA
  17. Kyle Woodley: http://investorplace.com/author/kyle-woodley/
  18. InvestorPlace.com: http://investorplace.com/
  19. here: http://investorplace.com/hot-topics/investorplace-market-recap/

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