Tech and Health Stocks Lead the Market
Maura Lockwood, Cabot Headline News
November 05, 2009
Technology and health care stocks are currently faring the best in the stock market, beating third-quarter expectations both in terms of sales and earnings for far, according to Investor’s Business Daily.
Of all S&P 500 technology stocks that have reported results, 87% topped consensus estimates by an average of 7%, IBD reported.
In health care, 77% have surpassed sales views, while 85% beat profit expectations, according to IBD.
Wednesday, Cisco Systems (CSCO) reported earnings that beat expectations, sending shares up 1.7% in regular trading and added 2.7% after hours. Shares of Merck (MRK) jumped 6.4% after issuing a strong profit forecast. These and other top technology and health care stocks are covered each month in Cabot Benjamin Graham Value Letter. ---
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