JPMorgan Chase & Co. (JPM) & Friends Join Dow Jones Industrial Average (.DJI) On Its Climb

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Inside the Dow

The Home Depot, Inc. (NYSE:HD) is leading the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) component stocks this morning with a 2.68% gain as of this writing. Though some of the stock’s gains may be fueled by the recent damage caused by a horrific tornado in Oklahoma, the retailer also has benefited from the housing sector’s continued rebound. The company recently announced earnings that beat expectations on both the top and bottom lines. With that, The Home Depot, Inc. (NYSE:HD) increased its outlook for the rest of the year. As the housing market continues to recover, the likelihood of the company following its lead is high.

Pfizer Inc. (NYSE:PFE) is also in the winners circle this morning, with a 3.1% gain. The pharmaceutical giant announced that it will be splitting off the remainder of Zoetis Inc (NYSE:ZTS), its animal health business. The company is offering a share exchange to investors in order to reduce its 80.2% stake in the company. The tax-free transaction would allow shareholders to take over the remaining stake in Zoetis Inc (NYSE:ZTS), making it fully independent. The company has risen 27% since its IPO in February. This is one of the final steps in slimming down Pfizer Inc. (NYSE:PFE) in order to refocus on developing new drugs.
JPMorgan Chase & Co. (NYSE:JPM) has had quite a day so far. After a shareholder vote went in favor of Jamie Dimon keeping his dual CEO and chairman roles, as well as management announcing a newly increased dividend, the bank is up 2.34% this morning. The vote yesterday was a 68-32 split, giving the victory to Dimon quite handily. The results even beat last year’s margin, which was a 60-40 split. Almost as a reward after the tough battle, management announced a $0.38 per share dividend for July, marking a 26% increase.

The article JPMorgan and Friends Join Dow on Its Climb originally appeared on Fool.com is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned — you can contact her here. The Motley Fool recommends Home Depot. The Motley Fool owns shares of JPMorgan Chase (NYSE:JPM).

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