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24/7 Wall St.’s Corporate Power Rankings: Week 31
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The 24/7 Wall Street Corporate Power Rankings of the 32 most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and change, and credible rumors. It is, in effect, a new version of the DJIA.
As might be expected in a falling market, safe haven stocks moved up the ranking, which helped Coca-Cola, McDonald’s, and P&G. In general, tech stocks dropped down the list after Cisco posted earnings that were below Wall St. expectations
| Company | Rank (last week) | Symbol | Comment | |
|---|---|---|---|---|
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Coca-Cola | 1 (5) | KO | Status as “safe haven” helps shares during last week. Recovery of European economy should help sales in key markets. |
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Disney | 2 (9) | DIS | Monster earnings led by big numbers from ESPN and the company’s movie studio. Establishes Mouse as No. 1 media company. |
| McDonald’s | 3 (1) | MCD | Another important “safe haven” stock with high dividend and share buyback. July same-store sales soar. | |
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Proctor & Gamble | 4 (3) | PG | Upgraded by Argus Research. seen taking share as Colgate and J&J falter. |
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Apple | 5 (2) | APPL | New study shows iPhone users would be attracted by Verizon Wireless service, a sign that non-exclusive distribution would benefit. |
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Berkshire Hathaway | 6 (7) | BRK | Many Buffett stocks well prepared for economic slowdown. Diversity of portfolio also a plus. |
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IBM | 7 (4) | IBM | Growing concern that IT spending will slow. IBM probably better positioned with product mix and international distribution than most rivals. |
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Ford | 8 (8) | F | Likely value of GM IPO shows that Pony company may be undervalued. GM profit also a sign of domestic industry health. |
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Intel | 9 (6) | INTC | Concerns that PC and IT sales will slow, but most recent data show server purchases are OK now. |
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Abbott Labs | 10 (12) | ABT | Shares perform DJIA last week. Medical device business not likely to be hurt badly as government expenditure on health rises. |
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Philip Morris | 11 (10) | PM | Shares move toward 52-week high as money rushes into strong balance sheet stocks. Smokers can’t kick the habit, even in a recession. |
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Cisco | 12 (11) | CSCO | Wall St. disappointed the router firm did not offer better forecasts, but earnings were impressive. |
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Oracle | 13 (13) | ORCL | Another tech company that may be hurt by slow corporate spending, but IP suite against Google could get Ellison a piece of smart phone software industry. |
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14 (15) | GOOG | Android mobile OS passes Apple product. Google threat of software IP suit from Oracle may be substantial. | |
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Pfizer | 15 (14) | PFE | Dividend now 4.4%. Stock better investment than DJIA recently. Pharma not likely to be badly hurt by slowing GDP. |
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Microsoft | 16 (17) | MSFT | Standout sales from Xbox 360 in July. Current quarter PC sales likely to keep driving Windows 7. |
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Exxon-Mobil | 17 (19) | XOM | Still moving ahead with promising Qatar oil facility. Should benefit this quarter from $75 crude. Cash-flow attractive to investors. |
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Wal-Mart | 18 (16) | WMT | Market very concerned about retail sales in the second half. Upcoming earnings expected to show rebound in US sales. |
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FedEx | 19(18) | FDX | Slowing economy likely to take tool on multinational shipping. Shares down 8% last week. |
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Dow Chemical | 20 (20) | DOW | S&P revises view of debt to “stable” based on earnings. Still vulnerable to a drop in corporate spending. |
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Caterpillar | 21 (21) | CAT | Data about China manufacturing drop dings stock and US infrastructure spending likely to slow. |
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GE | 22 (23) | GE | Growing backlog of aircraft orders should help jet air group and coming government spending in medical should help company’s equipment supply division. |
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Boeing | 23 (22) | BA | Aircraft makers drop on economy long-term threat to order but backlog should sustain them for several quarters. |
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Verizon | 24 (24) | VZ | Data confirms position as best-regarded cellular provider. May be closer to offering iPhone, but in the meantime, new Android handsets sell well. |
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Goldman Sachs | 25 (26) | GS | JP Morgan Chase. Jobless rate news threatens, but JPM is in a lot of non-consumer businesses. |
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JP Morgan | 26 (25) | JPM | Some rivals begin layoffs spreading concern that institutional banking could be hurt by the economy. |
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Johnson & Johnson | 27 (28) | JNJ | Takes double hit on retail sales fall-off and growing unemployment. Defaults likely to spike again. |
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AT&T | 28 (27) | T | Another round of research critical of company’s3G network. Once iPhone exclusive is gone, a lot of customers will go with it. |
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Hewlett-Packard | 29 (30) | HPQ | Still on the ropes due to CEO firing Rival Cisco weak forecasts do not help. |
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American Express | 30 (31) | AXP | Takes double hit on retail sales fall-off and growing unemployment. Defaults likely to spike again. |
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Bank of America | 31 (29) | BAC | Likely to be hit by credit cards defaults, mortgage write-offs, and commercial banking slowdown as GDP cools. |
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Home Depot | 32 (32) | HD | Another set of data show housing market still weakening along with jobs. Retail sales also off. |
Douglas A. McIntyre
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