A recession is defined as two consecutive quarters of negative economic growth, and it is usually accompanied by a decline in the stock market. Although a recession can be a difficult time for businesses and investors, it can also present opportunities to buy stocks at a discount. Thus, defensive stocks are those that tend to perform relatively well during economic downturns.
Examples of defensive stocks include consumer staples, healthcare and utilities. These companies often have strong balance sheets and generate stable cash flow, making them less vulnerable to an economic downturn. As a result, they may be good stocks to buy during a recession. With that in mind, here are three defensive stocks for your list of recession-proof defensive stocks to watch in the stock market today.
Defensive stocks to buy [Or Sell] Now
1. CVS Health Corporation (CVS Stock)
Launching our list of defensive stocks to watch today is CVS Health Society (CVS). Briefly, CVS Health Corporation is an American multinational pharmaceutical retail and healthcare company. In addition, CVS Health offers 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 Market News
This month, CVS Health announced that it would release its third quarter 2022 financial results on Wednesday, November 2, 2022. The company is expected to release its financial results before the U.S. stock market opens. In the meantime, let’s recap how CVS released its second quarter 2022 financial results. In August, the company announced a beatdown for its second quarter 2022 results. Specifically, CVS reported earnings of $2.40 per share for the Q2 2022 on revenue of $80.6 billion.
CVS Stock Chart
Apart from that, over the past 5 trading days, CVS shares have rebounded 3.59%. Meanwhile, as of Monday’s close, CVS stock is trading at $90.89 per share.
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2. Walmart (WMT stock)
Next, walmart (WMT) is an American multinational retail company that operates a chain of hypermarkets, discount department stores and grocery stores. Additionally, Walmart offers a wide variety of merchandise including groceries, electronics, household items, and clothing. Walmart is also known for its low prices, often lower than its competitors. In addition to its retail business, Walmart also operates Walmart eCommerce, a website that offers an even wider selection of products.
Recent WMT Stock News
On Monday, Walmart announced that in partnership with Verizon Communications (NYSE: VZ), it will provide its customers with affordable home Internet access through its Straight Talk Home Internet product. This product and service is exclusively available at Walmart and provides customers with contract-free, no-credit-check, 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 of up to 100 Mbps on 5G or 50 Mbps on 4G LTE, as well as dual-band Wi-Fi 6.
Mehrdad Akbar, vice president of wireless services at Walmart US, said:Walmart is committed to making wireless products and services that are essential to everyday life more accessible. The Internet provides access to resources and opportunities that would otherwise be out of reach without high-speed Internet access, which is in line with our company’s mission to help our customers save money and live better.“
WMT Stock Chart
Year-to-date, WMT shares are down just over 9%. Continuing, as of Monday’s close, Walmart shares are trading at $131.37 per share.
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3. Lockheed Martin (LMT stock)
Lately, Lockheed Martin (LMT) is an American aerospace, defense, security and advanced technology company with global interests. Additionally, Lockheed Martin is one of the largest defense contractors in the world and a major producer of aerospace products for military and civilian use. It is the largest provider of IT services to the US government and one of the main contractors for the development and production of stealth aircraft. The company also manufactures satellites, space systems, missiles and other advanced technologies.
LMT Recent Stock Market News
On Tuesday, October 18, 2022, the company is expected to announce its third quarter 2022 financial results. Specifically, LMT announced that it will release its third quarter 2022 results before the market opens on Tuesday.
Separately, also this month, Lockheed Martin announced that its board of directors had declared its fourth quarter 2022 dividend of $3.00 per share. This reflects an increase of $0.20 per share from the prior quarter. In addition, the dividend is payable on December 30, 2022 to holders of record at the close of business on December 1, 2022.
LMT Stock Chart
So far in 2022, Lockheed Martin stock has outperformed the broader markets, as it is up more than 12% year-to-date. Meanwhile, at Monday’s closing bell, shares of LMT closed up 2.03% at $397.31 per share.
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