Melco Crown Entertainment (MPEL) and CRA Int'l (CRAI)

It was announced today that Macau saw gambling revenue surge by more than 48% in July, showing why this Chinese region has unseated Las Vegas as the world's leading gambling market.

That was great news for Zacks #1 Rank company Melco Crown Entertainment Ltd. (MPEL - Snapshot Report), which needed some good news on Monday as the market dropped for a sixth straight session on debt deal nervousness and disappointing manufacturing numbers.

MPEL, which owns gaming and entertainment resorts primarily in Macau, was the Top Performer today, as shares advanced 5.55%. Volume was a little higher than normal at approximately 10.4 million, compared to the daily average of about 8.5 million.

MPEL is the only company from the Gaming industry on today’s Zacks #1 Rank List.

The company will report its second-quarter results later this month. At the moment, the Zacks Consensus Estimate is calling for 10 cents per share, which would mark a solid improvement over last year's 5-cent loss.

Earnings estimates for Melco Crown Entertainment have been moving steadily higher for months now. At present, the Zacks Consensus Estimate for 2011 is 29 cents per share. Three months ago, we were only expecting 16 cents, which accounts for growth of more than 80%. There has also been an 11.5% improvement in the past 30 days, thanks to 2 upward revisions out of 8 total estimates in that time.

The outlook for 2012 is nearly 60% better than that for 2010. The Zacks Consensus Estimate for next year is at 46 cents, up more than 58% in 3 months and 4.5% in 30 days. Again, two out of 8 analysts revised higher in the past month.

Melco Crown Entertainment owns and operates City of Dreams, flagship integrated leisure and entertainment resort and home of the The House of Dancing Water, the world's largest water-based performance; Altira Macau, a Forbes Five-Star luxurious casino hotel; and Mocha Clubs, one of Macau’s largest non-casino based electronic gaming chain.

The only other company to surpass 5% on the Zacks #1 Rank Top Performers List on Monday was CRA International, Inc. (CRAI - Analyst Report), which gained 5.10%. Volume moved north of 42,000 shares, compared to the daily average of more than 30,000.

CRAI has enjoyed sharp upward revisions in earnings estimates over just the past 7 days, as 2 of 3 analysts lifted expectations for both this fiscal year and next. The Zacks Consensus Estimate for the fiscal year ending in November is $1.57 per share, which is up 6% in the past week.

As for the fiscal year ending November 2012, the Zacks Consensus Estimate of $1.75 is up nearly 2% in 7 days and suggests a year over year improvement of about 1.7%.

The company's fiscal second quarter included earnings per share of 48 cents, which was a dime, or more than 26%, better than the Zacks Consensus Estimate. Revenue was up 18% year over year to $80.6 million, as it continued to experience broad-based demand for its services.

CRAI believes it is well positioned for profitable growth across the majority of its practice areas as market conditions improve.

CRA International operates as a consulting firm that provides economic, financial, and business management consulting expertise worldwide. Furthermore, there are 2 other names from the gaming industry on today’s Zacks #1 Rank List: Huron Consulting Group, Inc. (HURN - Snapshot Report) and Navigant Consulting, Inc. (NCI - Analyst Report).

Read the full analyst report on MPEL

Read the full analyst report on CRAI

Read the full analyst report on NCI

Read the full analyst report on HURN