The stock market had a pretty good run last week, with the Dow Jones gaining about 3.3%, the S&P 500 adding +3.5% and the Nasdaq tacking on +4.2%. Favorable corporate earnings from some big name stocks helped lead the charge, and gave way to new optimism for many stocks.But don’t think this means that the market is going to be smooth sailing from here on out. The bottom line is that a number of companies are still struggling, after just posting poor earnings or issuing warning signs as they approach their earnings date.
To keep you out of the worst stocks, here are 9 big name blue chips to sell now:
Bank of America Corp. (BAC)
Sector: Diversified Financial Services
Market Cap: 137.8 billion
Dividend Yield: 0.29%
YTD Performance: -8.7%
Bank of America Corporation (NYSE: BAC) is a bank holding company, and a financial holding company well known to consumer and investors alike. Even though BAC has managed to stay ahead of the broader markets for most of 2010, sharp drops in shares in recent weeks have caused serious woes for investors.
BP PLC (BP)
Sector: Oil & Gas
Market Cap: $118.4 billion
Dividend Yield: 8.9%
YTD Performance: -34.8%
BP PLC ADS (NYSE: BP) is one company that hardly needs an introduction thanks to the recent media frenzy surrounding its disaster in the Gulf of Mexico. As can be expected from such a devastating event, shares for this once titan-of-industry have already fallen -34.8% in the past three months.
Exxon Mobil (XOM)
Sector: Oil & Gas
Market Cap: $280.0 billion
Dividend Yield: 2.9%
YTD Performance: -13%
Exxon Mobil (NYSE: XOM) is the largest oil and gas company in the world – and in fact the largest corporation on Wall Street by market cap. Shares have been in a tailspin this year, faring much worse than the market, and Exxon has missed earnings estimates in three of the last four quarterly reports.
Goldman Sachs Group (GS)
Sector: Capital Markets
Market Cap: $75.3 billion
Dividend Yield: 0.96%
YTD Performance: -13.3%
The Goldman Sachs Group, Inc. (NYSE: GS) is a bank holding and a global investment banking, securities and investment management company. Combined with the controversies surrounding the company and its dealings is the fact that GS stock had its bottom fall out in April. The company’s shares are down -13.3% total since January.
JPMorgan Chase & Co. (JPM)
Sector: Diversified Financial Services
Market Cap: $518.4 billion
Dividend Yield: 0.5%
YTD Performance: -4.4%
JPMorgan Chase & Co. (NYSE: JPM) is a financial holding company with Chase Bank USA as the Firm’s credit card-issuing bank. JPMorgan is hoping to see its shares rebound because the company has underperformed the broader markets this year at -4.4%, with most of the losses occurring sine April.
Petrobras Petroleo Brasileiro (PBR)
Sector: Oil & Gas
Market Cap: $159.2 billion
Dividend Yield: 0.41%
YTD Performance: -23.9%
Petroleo Brasileiro S.A. (NYSE: PBR) is an integrated oil and gas company that deals in oil and gas exploration, development and production in Brazil. This year has been unkind to PBR shareholders who have witnessed their investment drop -23.9% in value since the start of 2010.
Pfizer Inc. (PFE)
Sector: Pharmaceuticals
Market Cap: $118.2 billion
Dividend Yield: 4.9%
YTD Performance: -19.5%
Pfizer Inc. (NYSE: PFE) is the research-based global biopharmaceutical company that has been a source of some despair from its shareholders in 2010. Investors must be cringing as they have had to endure almost -20% in losses so far this year and charts continuing to trend downward.
Telefonica (TEF)
Sector: Diversified Telecommunications Services
Market Cap: $98.6 billion
Dividend Yield: 7.6%
YTD Performance: -22.4%
Telefonica S.A. (NYSE: TEF) together with its subsidiaries operates in the telecommunications, media and contact center industries. Like so many other blue chips, its profits and returns are both down from last year for TEF. So far in 2010, Telefonica has seemed like a runaway train—posting -22.4% in market activity year-to-date.
Toyota Motor Corp. (TM)
Sector: Automobiles
Market Cap: $111.5 billion
Dividend Yield: 1.3%
YTD Performance: -15.5%
Toyota Motor Corp. (TM) is a Japan-based company mainly engaged in the automobile and financial business. With the company currently under investigation for possible defects in the steering rods of its vehicles, it seems like the hits keep on coming for TM and its shareholders. The automaker is reeling from -15.5% returns this year.
(www.investorplace.com)
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