Wednesday, July 22, 2009

Wednesday Earnings Mixed/What I'm Looking to Buy

Looking back to last night, Apple really was solid. I mean in the face of a very difficult time for consumers, Apple continued to deliver, and with a premium brand at that. Consumers are continuing to buy their more expensive computers, and obviously the iphone is just killing it right now. Good for them. I owned that stock about three ipods ago, but haven't recently.

The bank's were mixed; The market liked what US Bank had to say, and Wells Fargo, not so much.

Pfizer looked pretty solid to me. They slightly raised full year estimates, which is great in this market. They also reported that the Wyeth purchase has been approved by shareholders, of which I am one.

I'll break down some more individual stuff later today, but just wanted to give a quick update as to what I'm watching:

-I rarely buy when the market surges like it has the past few days, so that accounts for the lack of activity. I was encouraged when futures were lower this morning as I was hoping to make a couple of buys, but I think the Apple momentum accounted for that quick erase of the drop.

-I'm looking to buy some shares in Compass Diversified Holdings (CODI). This basically a private-equity company that owns six diversified companies. They are very transparent and are in a good financial situation. They're looking to make another acquisition soon, which could really jump start the stock. In the meantime, they are yielding 15%. Todd Sullivan picked this one off, and I'm just going to refer you to his post for the details. I've done plenty of research here, but he's got the best explanation and videos to detail. Thanks Todd.

-I'm also likely to pick up some Wal-Mart shares. I like the price and the insulation this stock provides against weakness in the market (when that happens again). Fitting that Wal-Mart stock is trading at a discount to the rest of the market.

-I'm eagerly waiting tomorrow's earnings, specifically from two: ABB and Diamond Offshore.

That's all for now.

Disclosure: Long WYE, ABB,

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