Market Wrap-Up for Sept. 9 (MOLX, CG, BXP, LVS, more)

Market Wrap-Up for Sept. 9 (MOLX, CG, BXP, LVS, more)


The Asian markets kicked off the week with a bullish start, as positive trade data from China, an upward revision to Japan’s second quarter GDP, and an exuberance in Japan following the announcement that Tokyo would host the 2020 Summer Olympics caused investors and traders to push stocks higher. On the home front, the U.S. indices rallied as well today, bouncing back after Friday’s mixed session.

M&A Movers

Shares of Molex (MOLX) skyrocketed right out of the gate this morning, rising about 31% on news that Koch Industries will acquire the electronic components manufacturer for $38.50/share, or $7.2 billion cash. Carlyle Group (CG) shares also got a bump today after the company announced it is acquiring New Jersey-based power plant Energy Capital Partners. Furthermore, Boston Properties (BXP) shares edged higher on news that it is selling a 45% stake in Times Square Tower.

Stocks on the Rise

Following Wall Street analysts’ upgrades, shares of Abercrombie & Fitch (ANF), Signet Jewelers (SIG), Ford (F), Las Vegas Sands (LVS), Eaton Corp. (ETN), NetApp (NTAP), and Cimarex Energy (XEC) rose higher into positive territory by the close.

Other stocks on the rise today ere L Brands (LTD), Gap (GPS), American Eagle (AEO), Buckle (BKE), Wal-Mart (WMT), and Target (TGT) after a number of firms initiated coverage on the various stocks.

Stocks on the Decline

There were few stocks in the red today, but among them were shares of Verizon (VZ) and Dunkin Brands (DNKN).

Be sure to check the Dividend Daily for all the latest earnings reports, analyst moves, and much more.

Work to Avoid a Fan-Like Mindset

As I was watching some of yesterday’s Week 1 NFL games, I was thinking about how irrational fans can be. Often, when assessing our favorite teams, we will overlook weak spots and magnify what is going well with the team in order to justify our desire for a comeback in a game or a playoff push late in the season. Rather than be honest with ourselves and admit that our team might not be the best one on the field that particular day (or in a particular season), we will try to talk ourselves into seeing the various bright spots.

Not only that, but fans, including myself, have these irrational and superstitious thoughts and rituals that are somehow expected to affect the outcome of a game. There are times when we think if we sit in the same spot of the couch or wear the same jersey for each game it will help a team win. It just sounds silly as I type it out, but there millions and millions of fans around the globe that exhibit this behavior. There’s just something about sports that brings out irrational and emotional feelings in people.

But this irrationality isn’t unique to just sports fans. Investors can also get caught up in this irrational “fan-like” mindset when it comes to our investments. We want our holdings to do well so badly that we will tend to overlook a company’s weaknesses. We will hold on to stocks too long, refusing to realize losses, hoping that the shares will make a late comeback for the “win.”

Now, you shouldn’t get upset when you realize that you have made some investment decisions based on irrational emotions – it’s only human. We cannot be 100% pragmatic all of the time, but what we can do is work to avoid the fan-like emotions over the course of a long-term investing strategy. It’s a process that we need to constantly work to improve upon. There will be mistakes and emotional decisions along the way, but we need to learn from those mistakes and avoid the emotional decisions as much as possible.

Thanks for reading! Be sure to check us out on Twitter @dividenddotcom. We will see you tomorrow.

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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