Breakout Stocks

As the S&P 500 sits within 1% of a new 4-year high there are a number of stocks leading the breakout charge to new highs. Several we own for our portfolio management clients at Penn Financial Group and others are on our WatchList. A few that I find interesting are below.

• Brookfield Infrastructure Partners ($BIP) - The stock is up for the 10th consecutive session and is at a new all-time high. Over the last year the stock has gained 32% and even after the rally it still pays a 4.3% dividend yield.
• Philip Morris International ($PM) - Apparently people outside of the U.S. continue to smoke at a solid pace as the stock is back to a new all-time high. The dividend yield is 3.4%.
• Ocwen Financial ($OCN) - The mortgage servicing company is on a tear recently and is up 83% in the last 12 months. This stock could move higher, but needs a sizable pullback before the next leg higher.
• Packaging Corp of America ($PKG) - A multi-year high for a company that provides packaging goods for other corporations tells me the economy is not that bad. If demand for PKG's products is high it correlates directly to the health of the economy.