The market carnage appears to be subsiding, but only subtly from what were session lows. The S&P 500 dipped as low as about 100 points and the Dow was down over 1,000 at one point. However a few companies stood against this downward trend and did not follow the markets all the way down.
24/7 Wall St. has compiled a list of a few companies that are bucking the presiding trends in the market. We have included potential reasons for bucking the trend, as well as background information regarding recent stock movements, consensus price targets and the 52-week trading range.
FireEye Inc. (NASDAQ: FEYE) is one of the more prominent cybersecurity stocks currently in the market. Normally, this stock rises on news of a hack, when its services might be required. Incredibly skeptical investors may think that the New York Stock Exchange or Nasdaq was hacked, but the discombobulation in the market — especially Monday morning — is enough to at least make a call to IT. FireEye shares were actually up 1.4% at $37.11 Monday morning, despite markets tanking. The stock has a consensus analyst price target of $54.09 and a 52-week trading range of $24.81 to $55.33. What is so amazing about this rally is that FireEye is expected to keep running at operating losses — so how do we say this is a flight to quality?
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AT&T Inc. (NYSE: T) is weathering this storm very well. The reason is that the Federal Reserve does not appear to want to increase interest rates come September, making AT&T’s dividend a safe haven — for now at least. Also technically speaking, AT&T has a well-established bottom; this company has traded in the range of roughly $30 to $36 since 2012 and once shares dipped below the $31 mark they shot right back up. Shares of AT&T were down 1.2% at $32.97. The stock has a consensus price target of $37.05 and a 52-week range of $30.97 to $36.45. Having a dividend yield north of 5.5% is the other attraction here.
Verizon Communications Inc. (NYSE: VZ) does not share the same technicals as AT&T, but what they do have in common is a high-yield dividend. Verizon’s dividend may clock in lower than AT&T, but it still has a considerably high yield at 4.8%. This is perhaps another result of what appears to be a dovish Fed. Shares were down 1.5%, at $45.39 in its 52-week range of $38.06 to $51.73. The consensus analyst price target is $51.42.
Walt Disney Co. (NYSE: DIS) fell over the past week, but 24/7 Wall St. speculated whether the stock had started trying to form a bottom. Trying to predict a bottom can be likened to catching falling daggers, and calling a formal bottom is next to impossible. Still, many investors will begin to wonder if that low seen on Friday under $97 may start to act as a base or as support, considering that shares have hovered at this level despite the markets crumbling around it. At prices under $100, some investors may feel like they are starting to get Star Wars for nearly free in valuations. Shares of Disney were last seen down 1% to $97.79, in a 52-week range of $78.54 to $122.08. The consensus price target is $120.56.
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Southwest Airlines Co. (NYSE: LUV) is best known for being the lowest cost airlines out of the majors. With its strategy of cost efficiency, it was able to reach new highs amid falling oil prices over the past year. This strategy also pays off when markets put the squeeze on companies, much like on Monday, and even over the past week. Investors feel like Southwest is the best-run airline out there with the least problems, versus legacy carriers, and it is expanding international routes as its next growth phase. Shares of Southwest were down almost 1.5% at $37.35, well below the consensus price target of $49.86. The stock has a 52-week range of $28.40 to $47.17.
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