This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
The Dow Jones Industrial Average got off to a solid start this year. The widely reported index, consisting of 30 large-cap stocks representing multiple sectors of the economy, gained 4.7% in the first month of the year.
While not all Dow index stocks did well in January, these five Dow stocks, which come from divergent sectors, vastly outperformed the index.
1. 3M
Industrial company 3M (NYSE: MMM) was the index's top performer in January with a 17.9% gain. Part of the stock's movement came after the company reported fourth-quarter results. Adjusted sales, which remove acquisitions/sales and foreign currency effects, grew 2.1% compared to a year ago. Diluted earnings per share (EPS) fell 1.2% to $1.68.
2. International Business Machines
International Business Machines' (NYSE: IBM) shares soared 16.3%. Its fourth-quarter sales increased a tepid 2% after removing the effects of foreign currency translations. However, investors were undoubtedly pleased about IBM's progress on the generative artificial intelligence front with management reporting its book of business grew to $5 billion.
3. Goldman Sachs
Goldman Sachs' (NYSE: GS) stock price leapt 11.8% last month. The financial services company reported strong fourth-quarter results. Quarterly revenue grew 23% year over year to $13.9 billion, and diluted earnings per share more than doubled to $11.95.
Its businesses span investment banking, trading, asset management, and other banking services such as credit cards.
4. JPMorgan Chase
JPMorgan Chase (NYSE: JPM) saw its share price increase 11.5% in January. The banking giant reported fourth-quarter revenue grew 10.9%, driving diluted earnings per share more than 58% higher.
JPMorgan Chase's businesses include banking for consumers and businesses, investment banking, and asset management.
5. Amgen
Amgen's (NASDAQ: AMGN) shareholders were undoubtedly pleased with the stock's 9.5% appreciation. Although no specific news seemed to drive the price increase, the company has a history of developing treatments for ailments such as heart disease, cancer, and osteoporosis.
Given people need their medications, Amgen's results tend to do well no matter what happens with the economy and people's personal finances.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
