Danaher Hits New High

Here’s how strange Wall Street can be. Three weeks ago, Danaher (DHR) reported good first-quarter earnings. The company made 67 cents a share, two cents more than Wall Street’s consensus. The company’s forecast for the second quarter and the rest of 2006 was a bit conservative, but the range still included Wall Street’s forecast.
The stock reacted by falling. Then, all of a sudden, somebody concluded that this might be a good stock after all. The stock rallied to a new all-time high yesterday. It was almost a delayed reaction to a good earnings report.

Posted by Eddy Elfenbein on May 11th, 2006 at 10:17 am

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