Wall Street Fundamentals Releases New In-Depth Stock Reports on AXP, BIIB, PGE, TGT
U.S. markets declined for the third consecutive day Wednesday due to a falling dollar against the yen and growing concerns of future stimulus measures from the Federal Reserve. Market volatility in recent weeks can be attributed to comments made by Federal Reserve Chairman Ben Bernanke on May 22nd, stating that monetary stimulus could be scaled back if the labor market showed "real and sustainable progress." On Wednesday, the Dow Jones industrial average declined 126.79 points, while the S&P 500 fell 13.61 points. Here is how some companies in the S&P 500 reacted Wednesday:
American Express Company (NYSE: AXP) shares traded in the range of $74.68 to $77.00 Wednesday before settling to close at $74.72, a decrease of 2.35 percent. The stock appears to be facing resistance at $75.70 with some support at $69.79. The company offers an annual dividend of $0.92 per share, $0.26 quarterly, for a dividend yield of approximately 1.23 percent. Shares of American Expresshave gained approximately 30 percent in 2013.
More information on American Express and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AXP
Biogen Idec Inc. (NASDAQ: BIIB) shares traded in the range of $204.12 to $218.90 Wednesday before settling to close at $206.55, a decrease of 7.39 percent. The stock appears to be facing some resistance at the $214.14 with some support at $206.25. On Wednesday, Citi analyst Yaron Werber downgraded the company’s rating to “neutral” from “buy”. Shares of Biogen Idec have gained approximately 41.0 percent in 2013.
More information on Biogen Idec and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BIIB
Pfizer Inc. (NYSE: PFE) shares traded in the range of $28.40 to $28.96 Wednesday before settling to close at $28.43, flat for the day. The stock appears to be facing some resistance at $28.92 with support at $28.49. Teva Pharmaceuticals Industries Ltd. and Sun Pharmaceutical Industries Ltd. have recently agreed to pay Pfizer $2.15 billion dollars to settle a patent suit. Shares of Pfizer have gained approximately 13.4 percent in 2013.
More information on Pfizer and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PFE
Target Corporation (NYSE: TGT) shares traded in the range of $69.12 to $70.65 Wednesday before settling to close at $69.43, a decrease of 0.81 percent. The stock appears to be facing stiff resistance at $69.66 with some support at $67.79. On Wednesday, the company increased its quarterly dividend 19.4 percent to $0.43 per share. Shares of Target have gained approximately 17.3 percent in 2013.
More information on Target and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TGT
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
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