Aflac, Danaher, United Healthgroup: Not Everyone is Roughing It

Perhaps it’s me, but I seem hear a lot of commentators speaking as if the market were going through some great reckoning; as if years of wild speculation is finally being punished. Sure, folks who owned Citigroup (C) or Countrywide (CFC) or Fannie Mae (FNM) are going through rough times, but that’s hardly true for the market as a whole.

Including dividends, the S&P 500 is up 8% for the year. That’s about spot on for the historical average. We’re only 3.5% off the all-time high reached two months ago. Swing by your local bank and see if you can find an 8% CD.

I also see that UnitedHealth Group (UNH) finally made a new 52-week high. The stock is above $58 for the first time since March 2006. What took it so long? UNH generates two things, huge profits and awful headlines. Investors, apparently, only pay attention to one. Just a few weeks ago, UNH said it was projecting EPS for 2008 of $3.95 to $4. This isn’t buried news—it’s public information, yet it’s taking a long time to sink in.

A Banc of America analyst just initiated coverage of Danaher (DHR) with a buy rating, a $100 price target and he called it his top buy in the sector.

Lastly, here’s a great look at AFLAC (AFL) from Standard & Poor's.