Up 4% in Three Days

The stock market is slightly higher this morning. This is a continuation of the strong rally from Friday which led the S&P 500 to its highest close since May 3rd. The S&P 500 is up 4% over the last three trading sessions. From our Buy List, Fiserv ($FISV) is scheduled to report its earnings after the close. Shares of FISV are down a bit today but they’re very close to their 52-week high. Wall Street expects Q2 earnings of $1.26 per share.

Previously, Fiserv had told us to expect full-year earnings to range between $5.04 and $5.20 per share. That’s a high bar but I think the company has a very good chance of hitting that. In fact, I wouldn’t be surprised to see FISV raise the lower end of its guidance.

Even though the stock is near a 52-week high, it’s only going for about 14 times this year’s earnings estimate. That’s still a good deal.

Posted by on July 30th, 2012 at 10:25 am

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