Telemig Celular (TMB)

Acorda Therapeutics (ACOR)
By Jason Napodano
Nov 06, 2009
Acorda Therapeutics (ACOR) is one of the more interesting biotechnology companies under our coverage. The company's key pipeline drug, Fampridine-SR, is currently under U.S. FDA review, with a decision expected in late January 2010.

Outside the U.S., Acorda has partnered with Biogen Idec under very favorable terms. Fampridine-SR has blockbuster potential worldwide in our view. Plus, the company is extremely well-capitalized with over $290 million in cash, and management has commercial experience with current approved product Zanaflex.

These are among the best fundamentals in all of biotech. We reiterate our Outperform rating on the stock.

Novatel Wireless (NVTL)
By Zacks Equity Research
Nov 05, 2009
We upgrade our recommendation for Novatel Wireless (NVTL) to Outperform following the blockbuster financial results of its third quarter 2009.

We expect the top-line of Novatel to maintain its current growth rate supported by strong demand for MiFi mobile intelligent hotspot and USB modems.

The company has generated a record-high level of free cash flow and significantly improved its gross margin. In addition, the company has a very strong balance sheet, capable to support its long-run business endeavors. Management has made the decision to extend the MiFi platform with new features and functionality, as well as building a MiFi ecosystem through organic development and strategic partners.

McDonald's Corp. (MCD)
By Zacks Equity Research
Nov 04, 2009
McDonald's (MCD) global same-store sales continue to grow (up 3.8% in the third quarter of 2009) while maintaining healthy margins and out-performing competitors. Earnings surpassed the Zacks Consensus Estimate, and were up 10% year over year.

However, a strong U.S. dollar continues to moderate results, adversely impacting the top and bottom lines. We expect continued headwind from a stronger dollar, but this is a translation impact, and will not affect the fundamentals of overseas operations, which operate entirely in local currency.

With a strong balance sheet, consistent earnings, healthy cash flow and a generous dividend, we think the stock provides relative safety and moderate growth in a turbulent environment and exposure to faster-growing international markets. As such, we maintain an Outperform recommendation.

Apple, Inc. (AAPL)
By Zacks Equity Research
Nov 03, 2009
Apple, Inc. (AAPL) has experienced tremendous growth, driven by the success of its iPhone and increased Mac shipments. The company reported strong fiscal 2009 results with higher revenue (12.5% year over year) and earnings (17.4% year over year) growth despite the recession. The results beat the Zacks Consensus Estimate and the company's own guidance.

The company is currently benefiting from a positive mix shift to the higher-margin iPhone/iPod business from its traditional MP3 players. The Macintosh product continues to gain market share, with significant gains in portables, music players and smart phones.

Year-to-date, Apple share prices have more than doubled. Apple's valuation premium is justified, given the company's positive attributes and leaves room for further upside from the current levels. We have increased estimates for full-year 2010 and upgrade the stock to Outperform. We set a six-month price target of $225.

Dow Chemical (DOW)
By Zacks Equity Research
Nov 02, 2009
We have upgraded Dow Chemical Company (DOW) from Neutral to Outperform. Earnings of 24 cents in the third quarter of 2009 (significantly better than the Zacks Consensus Estimate of 9 cents, and the 5 cents reported in the previous quarter) were driven by cost reduction and asset sales.

The company achieved cost synergies of over $1 billion in the first nine months of 2009. The Rohm and Haas acquisition is a positive for Dow, which is expected to consolidate higher margin and higher growth specialty businesses and reduce volatility in earnings and cash flow going forward.

CarMax, Inc. (KMX)
By Zacks Equity Research
Oct 30, 2009
CarMax (KMX) focuses on penetrating new markets through store openings. The company has kept its inventories closely aligned with sales trends, which has allowed it to optimize gross profit per unit besides offering great value to customers. These have helped the company to maintain a favorable position among its peer group.

CarMax has reported profit in the second quarter, reflecting a significant improvement from the Zacks Consensus Estimate. It has experienced a significant rebound in CarMax Auto Finance income to $72 million in the quarter versus a loss of $7 million in the prior year quarter.

These lead us to upgrade the stock to an Outperform recommendation with a target price of $25.

Intersil Corp. (ISIL)
By Ken Nagy
Oct 29, 2009
Intersil Corporation (ISIL) is an OEM of analog and mixed signal semiconductor ICs. September quarter results beat consensus estimates on both the top and bottom lines. Forward guidance is for 3% revenue growth in the fourth quarter.

We expect an unfavorable mix of business through 2009, although management initiatives are likely to mitigate the impact. Management expressed confidence that the bottom is behind it, and judging from the increasing order rates and growing backlog, we are inclined to agree.

Since shares are still going rather cheap, we encourage investors to accumulate them. We are raising our rating from Neutral to Outperform.

Cooper Tire & Rubber (CTB)
By Zacks Equity Research
Oct 28, 2009
Cooper Tire & Rubber Co. (CTB) is well positioned to enjoy improved operating costs, greater geographic flexibility and the ability to penetrate international markets through its investments and facilities in low-cost countries.

The company continues to realize the benefits of reducing costs in its manufacturing operations. It has also been able to absorb the costs associated with the need to curtail production to align with demand.

In the second quarter, Cooper Tire returned to profitability after a year. Earnings increased tenfold compared to the Zacks Consensus Estimate of $0.04. As such, we have upgraded the stock to an Outperform recommendation with a six-month target price of $20 per share.

NTT DoCoMo (DCM)
By David Weissman
Oct 27, 2009
We maintain an outperform rating for NTT DoCoMo (DCM), the largest mobile service provider in Japan. The company currently maintains a leading 50% share of the Japanese wireless market.

DCM upgraded 98% of its total coverage area with 3G-HSDPA, while emerging 4G LTE networks are planned for deployment through 2010. DCM's decisions to focus on mobile content, along with a renewed geographic expansion drive outside Japan are positive indicators.

Furthermore, the company is launching an innovative online money transfer service. We consider DCM as an attractive long-term investment opportunity.

American Physicians Service (AMPH)
By Zacks Equity Research
Oct 26, 2009
We are upgrading our recommendation on American Physicians Service Group (AMPH) from Neutral to Outperform. American Physicians second quarter operating earnings of 82 cents per share were significantly ahead of the Zacks Consensus Estimate of 66 cents.

Results were driven by better-than-expected results in the Financial Service segment, strong policyholder retention and favorable developments from prior years. The company is also experiencing the benefits of the implementation of its cost containment measures.

Though declining rate continued to partially offset growth, policyholder retention, conservative reserve position and capital position augur well for a solid growth path with the market recovery.