Electronic Data Systems (EDS) NewsBite - EDS Profit Rises on Higher Contract Signings

Posted on Tuesday, July 29, 2008 1:44 PM

Electronic Data Systems Corp. (EDS) opened at 24.82. So far today, the stock has hit a low of 24.77 and a high of 24.84. EDS is now trading at 24.77, down 0.02 (-0.08%). The stock hit its 52 week high of 27.58 in July and set its 52 week low of 15.71 in March. EDS slipped during the second half of 2007, but has moved to the upside since March. Electronic Data Systems announced yesterday evening its second-quarter profit rose, boosted by robust contract signings that included centers for Medicare and Medicaid services. The company posted adjusted earnings of 33 cents per share on sales of $5.62 billion, while analysts were expecting a profit of 26 cents per share on sales of $5.71 billion. Technical indicators for the stock are bullish but deteriorating while S&P gives EDS a neutral 3 STARS (out of 5) hold rating. We will just watch this one for now. There are no trades that we like for EDS. [RHF - Seven Summits Strategic Investments NewsBite]