Market Wrap-Up for Nov.2 (PM, WM, ETN, PNC, BBT, more)
November 2nd, 2009

The super-volatile market atmosphere we saw last year has started to make an appearance in the last week or so. Lots of intraday spikes and dips are making some investors nervous about committing new capital to this stock tape, and rightfully so in lots of cases.
We removed a group of names earlier and are currently analyzing any other names that we would like to move to the sidelines on. Just a heads up, the more likely names we are targeting are the “aggressive” plays that have a lower dividend yield. There is less protection on the downside if we do undergo a decent-sized correction. Be sure to check out the post if you did not read the earlier e-mail alert we sent out.
Checking out today’s volume, we counted 6.2 Billion shares traded on the NYSE and 2.37 Billion shares over on the NASDAQ. This was fairly heavy for a Monday session. Some of today’s earnings winners in the land of dividends, include Loews (L



) and Cooper Tire & Rubber (CTB



). We had analyst upgrades helping lift stocks like Estee Lauder (EL



) and Eastman Chemical (EMN



). Other winners include Philip Morris (PM



), Waste Management (WM



), and Eaton Corp (ETN



). Financials battled back to close higher, led by PNC Financial (PNC



) and BB&T (BBT



).
On the flipside, we had analyst downgrades take down names of SL Green Realty (SLG



) and Old Dominion Freight Line (ODFL). Also finishing lower on the day were shares of Metlife (MET



), Nucor (NUE



), and Potash (POT



).
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.



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