From the Wires
S&P 500 Index Gains the Most Since 2009 -- Fiscal Cliff Likely to Be Avoided
The Paragon Report Provides Stock Research on Abbott Laboratories and Pfizer
By: Marketwired .
Jan. 3, 2013 08:20 AM
NEW YORK, NY -- (Marketwire) -- 01/03/13 -- U.S. stocks surged to end the year on optimism that a deal will be made to avoid the looming "fiscal cliff" The S&P 500 surged 1.69 percent Monday to end the year up 13.41 percent, which was its largest gain since 2009. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Abbott Laboratories (NYSE: ABT) and Pfizer Inc. (NYSE: PFE).
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The "fiscal cliff" is a combination of government spending cuts and tax increases set to take effect at the beginning of 2013 unless lawmakers reach a compromise on a new budget deal. President Obama in a statement said that a deal to avoid the fiscal cliff was "within sight" but not yet complete.
"This all makes me hopeful that Congress can at least defuse the ticking time bomb," said BMO Private Bank chief investment officer Jack Ablin. "Any positive news coming out of Washington is going to be taken as pretty bullish among investors who already have very low expectations. Just the fact that Congress can agree on something is worth celebration."
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Abbott Laboratories currently offers investors an annual dividend of $0.56 per share for a dividend yield of approximately 1.75 percent. The company recently completed the separation of AbbVie, their research-based pharmaceuticals business. "We wish our colleagues at AbbVie continued success as they become part of a new, independent company that is already making a significant difference, focusing on highly specialized, market-leading therapies for some of the world's most difficult-to-treat diseases," said Miles D. White, chairman and chief executive officer, Abbott.
Pfizer currently offers investors an annual dividend of $0.96 per share for a dividend yield of approximately 3.7 percent. Pfizer's and Bristol-Myers Squibb's anti-clotting drug, Eliquis has recently been approved by the U.S. Food and Drug Administration. Eliquis had already been approved in Europe and Japan.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer
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