Blue-chip stocks are shares of big, stable, and well-known companies. These companies have been around for a long time, have a strong position in the market, and are good at paying out dividends to their shareholders. They are usually leaders in their industry and don’t have a lot of risk for investors because they have a strong financial base and can handle tough economic times. You can find blue-chip stocks in big market exchanges like the Dow Jones Industrial Average or the S&P 500, which show how the overall stock market is doing.
Investing in blue-chip stocks can be a smart choice if you want a balance between your money growing and getting some extra income. These companies often give regular dividends and can still grow in value. Blue-chip stocks may not make you rich quickly like some riskier investments, but they offer safety and steadiness that’s good for people who don’t want to take big risks or who want to keep their money safe in the long run. With this in mind, here are three blue-chip stocks you should watch in the stock market right now.
Blue Chip Stocks To Watch Right Now
Chevron (CVX Stock)
Leading off, Chevron Corporation (CVX) is a major energy company involved in the exploration, production, and transportation of oil and natural gas. They also invest in renewable energy sources like solar and wind power.
Last week Friday, Chevron reported its latest first-quarter 2023 earnings results. In detail, Chevron reported a beat for its Q1 2023 results, notching in earnings of $3.55 per share, along with revenue of $50.8 billion. This was compared with Wall Street’s estimates for the quarter which were an EPS of $3.36 per share, and revenue estimates of $49.5 billion. Moreover, currently, CVX offers an annual dividend yield of 3.82%.
On Wednesday shares of CVX stock are trading lower on the day ahead of lunchtime trading, down 1.15% at $158.09 a share.
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Boeing Company (BA Stock)
Next, The Boeing Company (BA) is one of the world’s leading manufacturers of commercial airplanes, military aircraft, and space systems. Despite facing challenges in recent years, Boeing remains a key player in the aerospace industry, with a diverse product portfolio and a global customer base.
Late last month, Boeing announced its Q1 2023 earnings results. Diving in, the company reported a loss of $1.27 per share, with revenue of $17.9 billion. This came in under analysts’ consensus estimates which was a loss of $0.98 per share, and revenue estimates of $17.6 billion. Though, revenue increased by 28.1% versus the same period, the previous year.
Meanwhile, during Wednesday’s late morning trading session, shares of BA stock are trading modestly higher on the day so far up by 0.66% at $204.57 a share.
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CVS Health (CVS Stock)
Last but not least, CVS Health Corporation (CVS) is a leading healthcare company in the United States, offering a wide range of services, including retail pharmacy, prescription management, and healthcare clinics.
Today, Wednesday, CVS also reported its 1st quarter of 2023 financial results. Specifically, CVS reported earnings of $2.20 per share. This came in higher than consensus estimates of $2.07 per share. Also, the company posted revenue of $85.3 billion, compared with estimates of $81.0 billion.
Following this news release, on Wednesday shares of CVS stock have dropped by 3.06% on the day so far trading at $70.52 a share.
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