Defensive Stocks Show Rotation Out of Tech (PEP, KO, BUD, TAP, KFT, CAG, CPB, HRL, MCD, MO, VGR, RAI, PG, CL, MRK, JNJ, NVO)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
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The markets haven’t fallen apart after yesterday’s 360 point dive on the DJIA, but we are still trading a tad lower today.  Now that Cisco Systems is showing you can’t just automatically hide out in all big technology stocks, it appears that investors who want to keep equity exposure are flocking to the DEFENSIVE STOCK names.  You can see below on our ticker list of defensive stocks that only Campbell Soup (NYSE:CPB) is not up today out of our 17 go-to defensive stocks.

DJI            13,249.05    -50.97    (-0.38%)   
S&P500    1,473.49     -2.13       (-0.14%)
NASDAQ   2,718.11    -30.65     (-1.12%)

PEP    $60.77    +$0.81 (1.35%)   
BUD    $50.29    +$0.23 (0.46%)   
TAP    $54.25    +$0.36 (0.67%)   
KFT    $33.37    +$0.04 (0.12%)   
CAG    $23.03    +$0.02 (0.09%)   
CPB    $35.50    -$0.08 (0.22%)   
HRL    $35.16    +$0.09 (0.26%)   
MCD    $59.21    +$0.83 (1.42%)   
MO      $72.75    +$0.77 (1.07%)   
VGR    $21.89    +$0.30 (1.39%)   
RAI     $63.71    +$0.64 (1.01%)   
PG     $70.07    +$0.65 (0.94%)   
CL     $75.33    +$0.01 (0.01%)   
MRK   $54.59    +$0.39 (0.72%)   
JNJ    $64.20    +$0.29 (0.45%)   
NVO  $123.41   +$1.72 (1.41%)   

Out of the top 10 holdings in the NASDAQ 100 QQQ (NASDAQ:QQQQ), only Microsoft (NASDAQ:MSFT) and Qualcomm (NASDAQ:QCOM) are trading up.  Unlike prior cautionary days, technology is giving back at least some of the gains today after the Cisco news last night.  It’s hard to tell a trend reversal if it is only the first or second day, but you can at least see where the money is going today (and it isn’t flocking back into financials yet).

Jon C. Ogg
November 8, 2007

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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