The Market Today

Except for Donaldson (DCI), it was a pretty good day. I know that’s a big exception. Donaldson got whacked over 5.9% on its sluggish earnings news.
The cyclicals had another good day. The S&P 400 Mid-Cap Index (^MID) hit an all-time high. The small-cap indexes like the S&P 600 (^SML) and the Russell 2000 (^RUT) are right at the verge of new all-time highs. Heck, even Cisco (CSCO) closed at a new 52-week high.
On our Buy List, Expeditors (EXPD) and Brown & Brown (BRO) both hit new highs. Does anyone remember when Brown & Brown was downgraded a few months ago? Good, me neither. SEI Investments (SEIC) is still looking good. Also, Fiserv (FISV) was up over 3% today. It’s about time someone starts buying that guy. It’s one of the cheapest stocks I see.
At the beginning of the year, I dumped Progressive (PGR) from the Buy List. That was pretty good timing, as the stock has run into trouble since then. Interestingly, the company has introduced a new dividend policy. The company will replace its quarterly dividend with an annual dividend that will be based on a formula. Progressive expects to pay a larger dividend in the future, but it will be more volatile. I’m curious if this will catch on.
Also, Goldman’s Laura Conigliaro said that Dell‘s (DELL) growth rate has probably hit bottom. The stock is still below $30.

Posted by on March 1st, 2006 at 4:19 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.