3 Key Blue-Chip Stocks Hogging All the Action

U.S. equities continue to drift — somewhat aimlessly — just below the Dow Jones Industrial Average 20,000 benchmark, as they have for the past five weeks.

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Even in the wake of the inauguration of President Donald Trump, Wall Street just doesn’t seem interested in moving out of its two-month sideways funk.

But beneath the surface, there is trading action and volatility in a number of key blue-chip stocks both to the upside and to the downside.

Here are looks at three stocks that are on the move:

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Key Blue-Chip Stocks: General Electric (GE)

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General Electric Company (NYSE:GE) shares are being slammed down 2.6% to test its 200-day moving average for the first time since September after reporting disappointing quarterly results before the bell.

Revenue came up light, down 2.4% from last year to $33.09 billion. The earnings per share number was in line with estimates — but after earnings beats in five prior quarters this was seen as a disappointment as well.

This is good news for Edge Pro subscribers, who are enjoying nearly a 50% gain on their Feb $31 GE Puts recommended on Jan. 12.

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Key Blue-Chip Stocks: Wal-Mart (WMT)

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Wal-Mart Stores Inc (NYSE:WMT) shares are drifting lower, threatening to break down below its October low to return to levels not seen since May.

The stock has been hit by sympathy selling in the wake of weak results from competitor Target Corporation (NYSE:TGT), which cited weak holiday sales. Additionally, analysts at Stifel resumed coverage with a “hold” rating this week as they expect increase expense growth (on labor costs) mixed with tepid top-line growth to weigh on profitability.

The company will next report results on Feb. 21 before the bell. Analysts are looking for earnings of $1.29 per share on revenues of $130.5 billion.

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Key Blue-Chip Stocks: Procter & Gamble (PG)

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Procter & Gamble Co (NYSE:PG) shares are surging, up nearly 3% in trading on Friday, returning to levels not seen since October thanks to a solid fiscal second-quarter earnings report. Core earnings grew 4% from last year to $1.08 per share, topping expectations despite flat sales of $16.9 billion.

Investors were encouraged by organic sales and volume growth across all five business segments led by health care. Forward guidance was raised as well.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters. A two-week and four-week free trial offer has been extended to InvestorPlace readers.

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