SEIC Beats Earnings

The market is recovering today from yesterday’s late-day sell-off. SEI Investments (SEIC) is doing well today. The company reported earnings of 54 cents a share, six cents better than estimates. Revenues jumped 49%. The stock is up to a new 52-week high today.
UnitedHealth (UNH) said it’s going to resume its share buyback plan. The company is planning on buying 10% of its outstanding shares. As I’ve said many times before, I’d prefer to get the cash instead of having the companies repurchase its stock.
The market is up today and positive earnings news from Verizon (VZ) and Archer Daniels Midland (ADM). (By the way, ADM has been a darn good stock for the past few years.)
This is shaping up to be a good earnings on Wall Street. The thing about earnings expectations is that most companies are expected to beat expectations. Typically, about 57% of companies beat earnings expectations. This quarter, about 70% of companies are topping forecasts. Energy stocks fell sharply last Wednesday and Thursday, but seem to have made up lost ground very quickly.
I also have to give a shout-out to Ed over at Daily Dose of Optimism. He’s been pounding the tables on TheStreet.com (TSCM), and he’s been right. Check out this chart. The stock is through $11 a share today.

Posted by on May 2nd, 2006 at 12:45 pm


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.