Eaton Vance Takes a Hit

Shares of Eaton Vance (EV) got dinged today for over 11%. In this past weekend’s Barron’s, I noticed they ran a research piece from Sandler O’Neill saying that run in asset managers is overdone. That’s not really a big deal except that EV hasn’t been leading the market at all. The stock is up 70% since the market bottom in early March, but the stock was down a lot too.
I can’t be sure if the Barron’s piece caused today’s selloff, but Sandler O’Neill also made it clear that they’re raising their earnings estimates for the quarter and fiscal year.

Posted by on April 21st, 2009 at 12:22 am


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