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The Zacks Analyst Blog Highlights: Chevron, ConocoPhillips, Intel, JPMorgan Chase and IBM

CVX COP IBM JPM INTC

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For Immediate Release

Chicago, IL – November 14, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Chevron Corporation (NYSE:(CVX - Free Report) –Free Report),ConocoPhillips (NYSE:(COP - Free Report) –Free Report),Intel Corporation (NASDAQ:(INTC - Free Report) –Free Report),JPMorgan Chase & Co. (NYSE:(JPM - Free Report) –Free Report) and IBM Corporation (NYSE:(IBM - Free Report) – Free Report).

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Friday’s Analyst Blog:

Dow 30 Stock Roundup: CVX, IBM

The Dow gained substantially during a week dominated by the U.S. presidential election. Initially, investors were buoyed by news that the FBI was sticking to its earlier recommendation on Hillary Clinton’s personal emails. Initially, investors reacted unfavorably to Donald Trump’s surprise victory. However, markets ultimately came to terms with this verdict and gained following expectations of a more favorable business environment.

Last Week’s Performance

The index advanced 2.1% on Monday after the FBI said that it would not press criminal charges against Democratic nominee Hillary Clinton. Financial markets in general believed that a Clinton win was the better outcome in the presidential election, as it presents more stability for markets than a Trump presidency. The Dow reclaimed the key 18,000 level, posting its biggest one-day percentage gain since March.

The FBI said that no new evidence was found to warrant charges against Clinton, a sign of relief among investors who see the chances of a Trump presidency failing. While a number of polls and prognosticators indicated Clinton was ahead of Trump, one indicator bucked the trend. Per the S&P 500, Trump had an 86% chance of winning the election.

The index gained 0.4% on Tuesday as investors eagerly awaited the results of a closely fought presidential election. Investors were betting on a victory for Hillary Clinton, as it represents more stability for markets than a Trump presidency. Trump’s stances on foreign policy, trade and immigration are less certain.

According to the final Reuters/Ipsos States of the Nation project, Clinton had a whopping 90% chance of making it to the White House. The Real Clear Politics Average of national polls also showed Clinton leading Trump by 2.2%, a much slimmer margin. Meanwhile, the NBC News/Wall Street Journal gave a point lead to Clinton over Trump. The Washington Post/ABC tracking poll had also awarded Clinton with a five-point lead.

The index advanced 0.4% on Wednesday as investors embraced the election of Republican Donald Trump as the president of the United States. Stocks made a dramatic turnaround from deep overnight losses as investors snapped up infrastructure, healthcare and financial stocks, while they dumped safe-haven assets including bonds.

Trump’s willingness to spend more on America’s roads and bridges boosted construction stocks, while his promise to repeal Obamacare and free up cash currently held overseas for tax reasons helped biotech stocks gain traction. A forthcoming bonanza of deregulation and tax cuts had a positive impact on financials.

The index gained 1.2% on Thursday as investors scooped up shares of large banks. The U.S. banking sector soared to levels not seen since the midst of 2008 financial crisis. A possible move towards lighter regulation and increase in fiscal spending helped banks gain traction.

Pharmaceutical stocks also gained on the prospect that a Trump administration will be less restrictive on drug pricing than Clinton. However, some of the world’s largest tech companies tanked as investors continue to adjust for Trump’s upset victory in the presidential election.

Components Moving the Index

Chevron Corporation (NYSE:(CVX - Free Report) – Free Report) , the second-largest U.S. oil producer, yielded first gas from Alder field – a gas condensate field in the Central North Sea. The Alder project is an initiative by Chevron North Sea Limited and leading integrated energy player ConocoPhillips (NYSE:(COP - Free Report) – Free Report) . Zacks Rank #3 (Hold) rated Chevron's subsidiary – Chevron North Sea – is the operator of the field with a 73.7% interest in the project. The remaining 26.3% is held by ConocoPhillips.

The field is forecast to have a capacity of 110 million cubic feet per day of natural gas and 14,000 barrels per day of liquid condensate. All the production from this field – located about 100 miles off of Scotland – will be sent to the ConocoPhillips operated Britannia platform via a 17 mile pipeline.

Intel Corporation (NASDAQ:(INTC - Free Report) – Free Report) has reportedly purchased Voke, a privately held virtual reality (VR) startup that offers personalized and immersive viewing experiences of live events. The financial terms of the deal were not disclosed. Intel has a Zacks Rank #2 (Buy).

Voke’s TrueVR is a real-time, end-to-end technology platform that offers high quality 360 VR experience in full stereoscopic 3D video captured with a special stereoscopic camera. This technology is a step ahead of virtual reality that puts users in a virtual space.

The platform is compatible with a range of devices such as PCs, smartphones, tablets and VR headsets and is offered through various distribution channels and apps. Voke is likely to be absorbed into Intel Sports Group.

JPMorgan Chase & Co. (NYSE:(JPM - Free Report) – Free Report) announced that it is about to stop offering fee-based retirement accounts to its clients. This is in compliance with the U.S. Labor Departments’ new fiduciary rule, to come into effect from April next year.

Per the new rule, all financial advisors are required to act as fiduciaries to their clients while giving investment advice, and managing their client’s retirement accounts.

It aims to bridge the gap between brokers and Registered Investment Advisors (RIAs). Earlier, only RIAs acted as fiduciaries to their clients. Brokers only acted as middlemen, providing education to their clients regarding their investments, but not advice. The stock has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IBM Corporation (NYSE:(IBM - Free Report) – Free Report) has partnered with Topcoder, a global software development community to make its Watson and IBM Cloud services available to more than one million of technology and design experts included in the Topcoder community. IBM has a Zacks Rank #3.

Topcoder conducts online competitive programming competitions called “single round matches” or SRMs fortnightly as well as weekly graphic design and development competitions.

With the partnership, participants of Topcoder-run hackathons and coding competitions can use Watson services such as Sentiment Analysis, Conversation and Speech Application Program Interfaces (API) to develop powerful artificial intelligence and cognitive computing tools. (Read: IBM's Watson & Cloud Now Available to Topcoder Community )

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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