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Three Favorite Stocks of Wealthy Investors

Apple (AAPL) logo"According to the Spectrem Group, which recently polled the country's wealthiest people, they're the most optimistic they've been in months," says Marc Lichtenfeld.

The contributing editor to Investment U explains, "Let's take a look at 3 stocks that millionaires (and aspiring ones) should pay attention to: Apple (AAPL), Bristol-Myers Squibb (BMY) and Varian Medical Systems (VAR).

"And according to Fidelity, 83% of millionaires surveyed said the financial crisis did not shake their confidence in investing. And of those who said they'll invest more money in the stock market, nearly 60% of them plan to buy technology stocks. And just under half expect to acquire pharmaceutical and healthcare stocks.

Continue reading Three Favorite Stocks of Wealthy Investors

Varian Medical Systems (VAR): Shares defining bullish 'pennant' consolidation

Varian Medical Systems (NYSE: VAR) manufactures medical devices for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. The company also provides X-ray detectors for industrial/security applications and software for managing radiotherapy centers. The firm has manufacturing sites in North America, Europe and China and operates some 60 sales/support offices around the world.

Varian pleased investors last week, when it reported Q3 EPS of 58 cents and revenues of $513 million. Analysts had been looking for 46 cents and $480.3 million. The CEO noted that faster than expected acceptance of Varian's oncology products was a major factor leading to the successful quarter. Management also guided FY08 EPS to about $2.23 ($2.11 consensus) and FY08 revenues to about $2.08-$2.096 billion ($2.05B consensus). Needham and Lazard Capital subsequently reiterated "buy" ratings on the shares.

Continue reading Varian Medical Systems (VAR): Shares defining bullish 'pennant' consolidation

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 11:51 AM

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