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The five best performing stocks on the Zacks #1 Rank List last week were: Universal Stainless & Alloy Products, Inc. ( USAP - Snapshot Report ) , Dollar Financial Corporation ( DLLR - Analyst Report ) , Allegheny Technologies Inc. ( ATI - Analyst Report ) , Sun Microsystems, Inc. (SUNW) and Harmonic Inc. ( HLIT - Snapshot Report ) .
Universal Stainless & Alloy Products, Inc. ( USAP - Snapshot Report ) was one of the top-performing Zacks #1 Rank companies last week with an advance of 10.6%. Furthermore, the specialty steel maker reached fresh 52-week highs three times in January, most recently on Jan 23. For its fourth quarter, the company announced that sales jumped 33% to $55.8 million while earnings per share eclipsed both the consensus and year-ago result. The company attributed its strong quarterly performance to strength in its niche markets and its targeted investments in capital equipment and personnel.
Dollar Financial Corporation ( DLLR - Analyst Report ) gained 9.8% last week after announcing that fiscal second quarter results will surpass expectations. The international financial services company said it continued to experience strong growth in its international businesses and in U.S. consumer lending revenue during the quarter. Dollar Financial is scheduled to report the quarters results on Wednesday. Over the past month, earnings estimates of the year ending June 2007 are up approximately 3.2%.
Allegheny Technologies Inc. ( ATI - Analyst Report ) reported solid fourth quarter results last week, which helped this steel maker become a top-performing Zacks #1 Rank with a gain of 9.8%. Earnings per share of $1.63 bettered both the consensus and year-ago result, while sales surged 56% to $1.4 billion. Allegheny reached 52-week highs on Jan 24 and Jan 25. The company likes what it sees in its major markets and believes that it is positioned for another revenue and earnings growth year in 2007. Analysts are encouraged as well and have boosted earnings expectations for 2007 by approximately 7.2% in just the past seven trading days.
Sun Microsystems, Inc. (SUNW) reached a 52-week high on Jan 25 and gained 9.7% for the week after posting strong fiscal second quarter results. More specifically, the server and software company reached its highest point in more than four years. Excluding items, earnings per share of four cents trounced the consensus by 300% and reversed a year-ago loss. Meanwhile, revenues improved 7% to $3.57 billion. In the past seven trading days, earnings estimates for the year ending June 2007 improved 75% to seven cents from four cents.
Harmonic Inc. ( HLIT - Snapshot Report ) reached new 52 week highs on Jan 23 and Jan 24 as the company heads toward its fourth quarter and year-end reporting date on Wednesday. In its third quarter report, the company had forecasted net sales between $67 million and $72 million for the fourth quarter. Third-quarter net sales reached $62.9 million, compared to $53.3 million in the sequential quarter and $61 million from a year ago. Earnings per share reversed a year-ago loss. The company continued to experience strong bookings across its global customer base. Harmonic gained 8.44% last week.
Since 1988, Zacks #1 Rank stocks have generated an annual average return of 32.4%, proving that earnings estimate revisions are the most powerful force driving stock prices. Learn more about harnessing the power of estimate revisions with the Zacks Rank Guide.
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