Trade Recommendation Follow-up – Nordson
Mar 2, 2010 Stock to watch, Trading Idea
On February 23rd, we recommended buying Nordson (NDSN) shares, as the stock was up almost 9%, on a day that the major indices were all down between .91% and 1.14%.
The stock closed today (03/02/10) at $67.09, up from our $64.75 entry. However, the stock is up against short-term resistance and we recommend taking profits here. If the market opens strong tomorrow, or the going is good early on and or Nordson shares are moving up, hold on until later in the day. Otherwise exit early on.
Tags: nordson, stock recommendation
Stock Of The Day – Nordson
Feb 23, 2010 Stock Market, Stock to watch, Stocks
With the broader markets in a funk – the Dow is down 0.91%, while the NASDAQ and the S&P 500 are down 1.26 and 1.147% respectively at 2:38 PM – shares of Nordson (NDSN), a manufacturer of systems that apply adhesives during the manufacturing process, are up $5.32 or 8.95% to $64.75.
The company after the bell yesterday, reported what it termed “Excellent Fiscal Year 2010 First Quarter Results.”
For the period, which ended January 31, Nordson reported an 18% rise in revenue to $221 million. Operating profit was $36 million, compared to the $13 million realized in the first quarter period a year ago and earnings came in at $26.7 million or $0.78 per share, compared to $11.2 million and $0.33 per share in the year ago period.
Analysts had been looking for the company to earn $0.58 per share, on $212 million in revenue.
The company also announced that for the fiscal 2010 second quarter period, “sales are expected to increase in the range of 26 to 30 percent compared to the second quarter a year ago. Diluted earnings per share are expected to be in the range of $0.81 to $0.89, inclusive of a $0.01 charge related to restructuring activities.”
Nordson shares are trading roughly 571,000 shares, compared to average daily volume of 187,000 over the past three months.
Tags: hot stock, nordson, Stock to watch
