The Dow Breaks 9,000

The market is up strongly today to another new post-March high. Our Buy List is now up over 20% this year. The Dow just broke 9,000 and the S&P 500 peaked above 975. Since March 9, the S&P 500 is up 44% and our Buy List is up 59%.
Thanks to recent article in Barron’s, Bed Bath & Beyond (BBBY) is over $35 today which is a new 52-week high.
Here are some earnings updates for our Buy List:
Yesterday, Eli Lilly (LLY) posted a very strong earnings beat and guided higher. The company earned $1.12 which was 10 cents higher than consensus. They made 99 cents per share for last year’s Q2 so that’s decent growth. LLY also raised its full-year EPS range to $4.20 to $4.30, from its earlier range of $4 to $4.25. This stock is a good buy.
Danaher (DHR) has been the dud so far. They reported earnings of 89 cents per share, one penny ahead of expectations. That’s a big drop-off from a year ago when they earned $1.09 a share. It’s a tough environment for Danaher, but it’s still a solid company.
SEI Investments (SEIC) saw its earnings-per-share drop from 24 cents to 22 cents, which was a penny better than consensus. Business has been rough for SEIC but the earnings drop for the second quarter is far better than the earnings drop for the first quarter. Hopefully, things will continue to improve for them.

Posted by on July 23rd, 2009 at 11:38 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.