A recession is defined as two consecutive quarters of negative economic growth, and it is typically accompanied by a decline in the stock market. While a recession can be a difficult time for businesses and investors, it can also present opportunities to buy stocks at a discount. As such, defensive stocks are those that tend to perform relatively well during an economic downturn.
Examples of defensive stocks include consumer staples, healthcare, and utilities. These companies often have strong balance sheets and generate stable cash flows, making them less vulnerable to an economic slowdown. As a result, they can be good stocks to buy during a recession. With this in mind, here are three defensive stocks for your list of defensive recession-proof stocks to watch in the stock market today.
Defensive Stocks To Buy [Or Sell] Now
1. CVS Health Corporation (CVS Stock)
Kicking off our list of defensive stocks to watch today is CVS Health Corporation (CVS). In short, CVS Health Corporation is an American multinational retail pharmacy and healthcare company. Also, CVS Health provides a range of specialty pharmacy and mail-order pharmacy services. In addition, CVS Health offers a wide range of health insurance products and services, as well as pharmacy benefit management services.
CVS Recent Stock News
Just this month, CVS Health announced it will report its third-quarter 2022 financial results on Wednesday, November 2, 2022. The company is set to release its financial results before the opening of the U.S. stock market. In the meantime, let’s recap how CVS reported its second-quarter 2022 financial results. Back in August, the company reported a beat for its Q2 2022 earnings results. Specifically, CVS reported Q2 2022 earnings of $2.40 per share on revenue of $80.6 billion.
CVS Stock Chart
Aside from that, over the last 5 trading days, shares of CVS stock have rebounded 3.59%. Meanwhile as of Monday’s closing bell CVS stock is trading at $90.89 a share.
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2. Walmart (WMT Stock)
Next up, Walmart (WMT) is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Also, Walmart offers a wide variety of merchandise, including groceries, electronics, home goods, and clothing. Walmart is also known for its low prices, which often undercut those of its competitors. In addition to its retail operations, Walmart also operates Walmart eCommerce, a website that offers an even wider selection of products.
WMT Recent Stock News
On Monday, Walmart announced that in partnership with Verizon Communications (NYSE: VZ) it will provide its customers with affordable home internet through their Straight Talk Home Internet product. This product and service is exclusively available at Walmart and offers customers no contract, no-credit-check, and prepaid fixed wireless internet service.
Straight Talk Home Internet is available for just $45 per month. Meanwhile, it offers unlimited 5G / 4G LTE data with speeds up to 100 Mbps on 5G or 50 Mbps on 4G LTE, along with Wi-Fi 6 Dual-band.
Mehrdad Akbar, vice president, of wireless services at Walmart U.S. said, “Walmart is committed to making wireless products and services, which are critical to everyday life, more attainable. The Internet enables access to resources and opportunities that are otherwise out of reach without high-speed internet access, and this is right in line with our company mission to help our customers save money and live better.“
WMT Stock Chart
Year-to-date shares of WMT are down just over 9%. Continuing on, as of Monday’s closing bell Walmart stock is trading at $131.37 a share.
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3. Lockheed Martin (LMT Stock)
Lastly, Lockheed Martin (LMT) is an American aerospace, defense, security, and advanced technologies company with worldwide interests. Additionally, Lockheed Martin is one of the world’s largest defense contractors and is a major producer of aerospace products for both military and civilian use. It is the largest provider of IT services to the U.S. government and is a leading contractor for the development and production of stealth aircraft. The company also manufactures satellites, space systems, missiles, and other advanced technologies.
LMT Recent Stock News
On Tuesday, October 18, 2022, the company is set to announce its third-quarter 2022 financial results. Specifically, LMT announced they will release their Q3 2022 results ahead of the stock market opening on Tuesday.
Separate from that, also this month, Lockheed Martin announced that is Board of Directors has declared its fourth-quarter 2022 dividend of $3.00 per share. This reflects an increase of $0.20 a share versus the previous quarter. What’s more, the dividend is payable on Dec. 30, 2022, to holders of record as of the close of business on Dec. 1, 2022.
LMT Stock Chart
So far in 2022, Lockheed Martin stock has outperformed the broader markets as it’s up over 12% year-to-date. Meanwhile, as of Monday’s closing bell, shares of LMT stock closed up 2.03% at $397.31 a share.
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