Home sales beat estimates and manufacturing in China increased for the first time in 9 months. This news helped push the S&P 500 higher today. The S&P 500 is up 34% since March 9th, 2009.
Despite the news today that a Pentagon auditor cited KBR for heavy fraud, KBR gained 7.86% to close at $17.15 today.
On Friday, two analysts increased their 2010 estimates for KBR saying, "due to our rising large engineering and construction project optimism", and "the only negative in the first quarter was a lighter-than-expected backlog, mostly in military work in the Middle East."
In the video below, I perform technical analysis on KBR and show why I recommend KBR as a buy.
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