The Dow 30 is a list of 30 of the largest and most significant companies trading on the Dow Jones Industrial Average. These firms cover a wide range of industries, such as technology, banking, healthcare, and manufacturing. Many of them are well-known, like American Express (NYSE: AXP), Salesforce (NYSE: CRM), and Visa Inc. (NYSE: V). The performance of these companies is generally seen as a reflection of the overall health of the stock market.
Investing in the Dow 30 stocks may not be risk-free. However, they tend to be more dependable in comparison to smaller companies. Additionally, it offers an opportunity for investors to gain exposure to some of the biggest businesses globally. With that in mind, let’s take a look at two top Dow Jones stocks to keep an eye on in February 2023.
Dow Stocks To Watch Today
International Business Machines (IBM Stock)
First, International Business Machines Corporation (IBM) is a multinational technology company offering a wide range of products and services. This includes cloud computing, artificial intelligence, and blockchain technology. It has a long history of innovation and is a pioneer in the tech industry.
At the end of last month, IBM reported its fourth-quarter 2022 financial results. In detail, the company notched in earnings of $3.60 per share, based on revenue of $16.7 billion. For context, analysts had estimated earnings of $3.61 per share and revenue of $16.4 billion. However, compared to the same quarter the previous year, the revenue remained unchanged.
Since the start of 2023, shares of IBM stock have dropped by 4.01%. While, during Thursday’s mid-morning trading session, IBM stock is trading modestly higher on the day by 0.58% at $135.87 per share.
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Nike (NKE Stock)
Second, Nike, Inc. (NKE) is a major sportswear brand known for its innovative athletic footwear, apparel, and accessories. It has a global presence and is widely recognized as a leader in the athletic and lifestyle markets.
Back in December, Nike reported its 2nd quarter 2023 financial results. Specifically, The company reported Q2 2023 earnings of $0.85 per share based on revenue of $13.3 billion, which exceeded expectations. Analysts had estimated earnings of $0.65 per share and revenue of $12.5 billion. What’s more, revenue grew 17.2% compared to the same quarter the previous year.
In 2023 thus far, shares of Nike stock have increased by 9.86% year-to-date. Meanwhile, on Thursday, NKE stock is continuing its move higher as shares are up 0.74% on the day at $130.46 a share.