3 Stable Blue-Chip Stocks to Buy for the Market Storm

Market Overview - The market has experienced significant volatility since July, with the S&P 500 index declining 2% and the Nasdaq Composite index down 3% after a recovery from a 9% drop [1] - Concerns over a potential U.S. recession have increased, with JPMorgan Chase raising the odds of a recession to 35% [1] - Large-cap tech stocks have been particularly affected, with many down over 10% in the past month [1] Sweetgreen (SG) - Sweetgreen reported strong Q2 results, with revenue of $184.6 million, a 21% increase year-over-year, surpassing Wall Street forecasts [3] - The stock surged 33% in one trading day following the earnings report, and it has increased 145% over the last 12 months [4] - Same-store sales rose 9% in Q2, although the company posted a net loss of $14.5 million, an improvement from a loss of $27.3 million a year earlier [4] - Sweetgreen's market capitalization is currently at $3.93 billion [4] Novo Nordisk (NVO) - Novo Nordisk reported a Q2 net profit of $2.93 billion, slightly below analyst expectations of $3.06 billion [6] - Sales of the weight-loss drug Wegovy increased 55% year-over-year to $1.71 billion [6] - The company raised its sales forecast for 2024 to anticipate 22% to 28% revenue growth, up from a prior forecast of 19% to 27% [7] - Wegovy's recent approval in China and the EU for heart disease treatment could further boost sales [7] - NVO stock has risen 49% in the past 12 months [7] Procter & Gamble (PG) - Procter & Gamble reported mixed Q2 results, with EPS of $1.40 beating estimates of $1.37, but revenue of $20.53 billion slightly missed the forecast of $20.74 billion [8][9] - Sales volumes increased for the first time in over two years, although price increases led to declining sales volumes previously [9] - PG stock has increased 10% year-to-date, reflecting its stability in various market conditions [9]