The Procter & Gamble Company (PG), The Kroger Co. (KR): Markets Move Higher Despite Little Economic Data

On a slow day in terms of economic reports, investors have certainly received a good bit of news from individual companies to keep themselves busy today. And despite any macro stimulant, as of this writing, the Dow Jones Industrial Average (INDEXDJX:.DJI) is still up 68 points, or 0.45%, and sits at 15,293. The S&P 500 (INDEXSP:.INX) is higher by 0.61%, while the NASDAQ Composite (INDEXNASDAQ:.IXIC) is up more than 0.5% also today. There are currently only a handful of losers within the Dow Jones Industrial Average (INDEXDJX:.DJI), but a number of big winners. Let’s take a look at a few of them.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) are up 2.21% this morning, and with that increase, the stock has now set a new 52-week high. The networking and communications device company announced yesterday that it would be teaming up with Microsoft Corporation (NASDAQ:MSFT) to help accelerate its deployment of private and hybrid cloud infrastructure. Additionally, Cisco Systems, Inc. (NASDAQ:CSCO) has recently made a number of acquisitions over the past few months to help increase its product offerings, and while these moves may not be showing up in the stock price today, they should help push it higher in the coming years.

The Procter & Gamble Company (NYSE:PG)

Another Dow Jones Industrial Average (INDEXDJX:.DJI) component moving higher is The Procter & Gamble Company (NYSE:PG), which has seen shares climb by 1.22% after the company announced its next quarterly dividend of $0.6015. The amount is the same as the last quarterly payment and will be payable on or after Aug.15, 2013, to shareholders on record as of July 19, 2013. The Procter & Gamble Company (NYSE:PG) has paid a dividend for the past 123 consecutive years and has increased it once a year for the past 57 years. Today’s dividend announcement continues that amazing tradition of returning value back to its shareholders, a quality that has made The Procter & Gamble Company (NYSE:PG) such a beloved stock among dividend investors.

Big news outside the Dow Jones Industrial Average (INDEXDJX:.DJI) came from The Kroger Co. (NYSE:KR), which made an offer to buy smaller grocery store chain Harris Teeter Supermarkets Inc (NYSE:HTSI). As my colleague Dan Caplinger pointed out earlier today, the deal is a little odd since The Kroger Co. (NYSE:KR) only offered a 2% premium to what Harris Teeter Supermarkets Inc (NYSE:HTSI) was trading for yesterday. But shares of both companies are higher on the news: The Kroger Co. (NYSE:KR) is up 2.65% while Harris Teeter Supermarkets Inc (NYSE:HTSI) has risen 1.44%. If The Kroger Co. (NYSE:KR) can get the smaller chain for its offer price, I believe this would be a big win for the company and position it to better compete with the likes of  Whole Foods Market, Inc. (NASDAQ:WFM) while proving its dominance over Safeway Inc. (NYSE:SWY).

The article Markets Move Higher Despite Little Economic Data originally appeared on Fool.com is written by Matt Thalman.

Fool contributor Matt Thalman owns shares of Microsoft. Check back Monday through Friday as Matt explains what caused the Dow’s winners and losers of the day, and every Saturday for a weekly recap. Follow Matt on Twitter @mthalman5513. The Motley Fool recommends Cisco Systems, Procter & Gamble, and Whole Foods Market. The Motley Fool owns shares of Microsoft and Whole Foods Market.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

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!