Archer Daniels Midland Company (ADM), PACCAR Inc (PCAR), Devon Energy Corp (DVN): Stocks on the Radar on Monday

The Dow Jones Industrial Average Index crossed the 17,000 mark for the first time in history last Thursday. Many sectors such as industrials, financials and energy stocks are lagging today, after reaching the historical highs last week. The opinions are divided about where the US stock market is heading next. Bob Pisani of CNBC stated that good job report was behind the surge, and that the higher stock market is being associated with the improving economy. Among the stocks on the radar, Mr. Pisani mentioned Archer Daniels Midland Company (NYSE:ADM), PACCAR Inc (NASDAQ:PCAR), and Devon Energy Corp (NYSE:DVN).

Archer Daniels Midland Company (NYSE:ADM) announced today that it plans to buy Swiss WILD Flavours GmbH, as it was rumored previously. The transaction values the WILD Flavours GmbH enterprise at €2.3 billion ($3.15 billion) in an all-cash transaction, in which ADM will pay the WILD Flavours GmbH shareholders €2.2 billion in cash and assume €100 million of net debt. On the back of the announcement, the share price of Archer Daniels Midland Company (NYSE:ADM) has been climbing on Monday, currently being 1.5% up.

Archer Daniels Midland Company (NYSE:ADM)

A lot of activity has been spotted around PACCAR Inc (NASDAQ:PCAR) as well, based on the rumours that the German automobile manufacturer Volkswagen AG (ADR) (OTCMKTS:VLKAY) plans to acquire it next year. Daimler’s Truck Chief, Wolfgang Bernhard, told this to analysts at Bernstein Research, according to Reuters, however the comment has been quickly rejected by VW.  On the back of the news, the stock of the company has jumped by more than 5%, however, currently PACCAR Inc (NASDAQ:PCAR) is trading 1.3% in red.

Devon Energy Corp (NYSE:DVN) upgrade by the Citigroup analyst has also been mentioned by Pisani. The news made the stock of Devon Energy Corp (NYSE:DVN) to jump a couple of percents up, although so far it has edged down by 0.8%.

Mr. Pisani also mentioned that there is some cautiousness among some very notable market players, like by the investment banking giant Morgan Stanley, however he is staying bullish, saying that “that’s not a hard call. In an environment, where you are in the slow seasonal part of the season, that’s not a tough call.”

The money is still flowing into the stock markets. According to the report, the ETF flows have been $25 billion in June, which is set to be another record year if it continues this way, after the record has been set in the last year with a $188 billion.

Pisani suggested that there is no need to move into assets that provide protection against inflation, like the real estate or commodities, and he showed how it is not happening as of now, with Gold being the exception.

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!