Wall Street fluctuated in a narrow range today along with weakening hopes over the European Central Bank to cope the region’s financial worries, but a better-than-predicted unemployment benefit claims report and optimism over further action from China’s central bank helped reduce declines. The Dow Jones Industrial Average Index (INDEXDJX:.DJI) is up between 13,160.35 and 13,199.55, extending gains for the fifth session in a row.
More than half of the Dow 30 components are up today with Cisco Systems, Inc. (NASDAQ:CSCO) leading gains after analysts at Goldman Sachs Group, Inc. (NYSE:GS) and Piper Jaffrey provided positive reviews of the networking-equipment maker.
The stock is rallying after being added to Goldman Sachs’ conviction buy list and a $24-a-share price target, citing the company is taking advantage from a “positive inflection in fundamentals” due to indications of expansion in enterprise spending in North America. The brokerage’s step came after Piper analyst Troy Jensen lifted his rating on the stock to overweight from neutral late Wednesday, and set a price target of $22 a share.
During current trading session, Cisco Systems, Inc. (NASDAQ:CSCO) gained +2.01% to $17.50 with a trading volume of 18.85 million shares. CSCO has earnings per share of $1.35 and its price to earnings ratio ended at 12.93.
General Electric Company (NYSE:GE) is struggling to hit 52-week highs after a news that U.S. industrial is recalling nearly 1.3 million of its dishwashers as received reports of heating element failures that caused fires, according to the U.S. Consumer Product Safety Commission. The number of reports received regarding dishwasher heating element failures was 15, including seven reports of fires, three of which led to extensive property damage.
General Electric Company (NYSE:GE) reported the gain of +0.33% to $21.08. Its trading volume, at last check, was 9.30 million shares as compared to the average volume of 48.17 million. Its stock price 52 weeks high was $21.19 and 52 weeks low price was $14.02.
Shares of Exxon Mobil Corporation (NYSE:XOM) are trading near highs as the world’s largest publicly traded oil company will be traded without dividend (ex-dividend) today. Exxon Mobil moved up +0.64% to $88.27 with a trading capacity of 2.80 million shares in current trading session.
XOM has earnings per share of $9.52 and its price to earnings ratio ended at 9.27. It has net profit margin of 8.28% and operating margin of 14.47%.