Danaher bouncing off its 200-day moving average here. The company will be reporting earnings on July 19th so there is time to trade a bounce here. DHR gets about 30% of its revenues out of Europe though, and the weak euro will likely have an impact on sales this quarter. EPS estimates haven't budged in the past sixty days really though so something to watch on the downside here.
All said, I look for weakening revenues out of Europe this quarter and maybe some cautious remarks on the conference call on the 19th. In the meantime, I wouldn't be surprised to see the stock drift about three points higher in the weeks leading up til then for about a 6% potential return.
No comments:
Post a Comment