Stocks are bouncing back from a brutal October, with two consecutive days to end the month and a positive start to Thursday’s session implying a bottom has potentially been found.

An important lesson to learn from the recent bout of volatility is that traditional defensive stocks—safe, stable companies, not necessarily those in the defense industry—behaved exactly as one would expect. This shows that not all investors are in a rush to get their money out of stocks; rather, risk is back in view and some are opting to avoid it.

Plus, it helps when these companies are able to deliver positive earnings results. One example would be drug giant Pfizer (PFE Quick QuotePFE - Free Report) , which managed to post earnings of $0.78 per share, beating the Zacks Consensus Estimate by a pair of pennies. Pfizer also reported revenue growth of 1%, as strong international performances helped the company meet sales expectations.

Pfizer did narrow its expectations for the full year, and its stock did not survive October entirely unscathed. But losses were thinner than the S&P 500 managed, and investors likely rested easy knowing they still had a 3%+ dividend yield from PFE.

Another interesting defensive play this month was Coca-Cola (KO Quick QuoteKO - Free Report) . Coke also reported recently, tallying better-than-expected earnings and revenue. Sales of water and sports drinks were up, and while Coca-Cola Zero Sugar recorded double-digit growth in North America.

Coke is now doubling down on healthier beverages and plans to launch its smartwater brand in 20 additional markets by the end of the year. This could help the drink behemoth find its next phase of growth. Shares of KO are now up over the past month, while the stock still presents a dividend yield of over 3%.

Make sure to check out today’s video for more of Ryan’s thoughts on these defensive stocks!

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