Whirlpool Washes Out of S&P Top 10
On July 17, 2002, Standard & Poor's equity research group made a change to the S&P Top 10 portfolio -- those stocks that we believe to be best-positioned for capital gains over the coming 6 to 12 months. Appliance-maker Whirlpool (WHR ), which had been downgraded on July 16 from 5 STARS (buy) to 3 STARS (hold), was replaced with Procter & Gamble (PG ).
S&P analyst Efraim Levy had lowered his ranking on Whirlpool on July 16, noting that his more conservative approach to the stock stemmed from reduced consumer confidence and the risk of a slowdown in the housing sector.
On the other hand, P&G, covered by S&P's Howard Choe, stands to benefit from the weaker U.S. dollar and improved volume and margin trends.
Here's the current list:
S&P Top 10 Portfolio
*Reflects 3-for-2 split.
For more information about the Top 10 portfolio, please visit http://www.businessweek.com/investor/content/jun2002/pi20020617_8998.htm