Dear Subscriber,

The Fed will hold a one-day meeting on Tuesday, Aug 5. I do not anticipate any change in interest rates.

Two Dow components will report: American International Group (AIG) and Procter & Gamble (PG). Market direction could also be influenced by Cisco Systems (CSCO), which reports on Tuesday, after the close of trading.

The focus of earnings season will shift away from blue-chip stocks to small- and mid-cap stocks. Overall, we have confirmed reports from nearly 750 companies, including 68 S&P 500 members.

A list of all of earnings reports and economic data scheduled to be released this week can be found in Earnings Preview: http://at.zacks.com/?id=3234.

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Today's Top Stories: Monday- August 4, 2008

ZACKS RANK BUY STOCKS

• Aggressive Growth - Big Lots, Inc (BIG) recently surprised the street with first-quarter earnings of 42 cents per share, 13% higher than analyst expectations of 37 cents. More...
   
• Growth & Income - Shares of QUALCOMM Inc. (QCOM) are trading about 15% from earlier this month, when the company was previously featured. More...
   
• Momentum - Molson Coors Brewing Company (TAP) shares have continued to steadily rise since being featured as a Zacks momentum stock in late March. More...
   
• Value - ArcelorMittal Sa Luxembourg (MT) easily beat Wall Street's second quarter estimates by 49.11% as steel demand continued to be hot. More...
   

EARNINGS PREVIEW for August 4 - August 8

A Fed meeting and results from AIG, CSCO and PG headline another busy week for earnings. Learn more...

INVESTMENT IDEAS:

What is Growth and Income Exactly? Knowing more about the style of an investment will help investors diversify more effectively. Learn more...

ANALYST BLOG:

• Tesoro Corp. (TSO) Results Miss Estimates
• AstraZeneca PLC's (AZN) Battling Generics
• Sonic Foundry (SOFO) Looks a Bit Better

ZACKS ANALYST INTERVIEW:

Watch for More Biotech Acquisitions. It will be interesting to watch because I think you will see a lot of activity here in the second half of the year. We discuss BMY, IMCL, DNA, PFE and GSK. Learn more...

BULL OF THE DAY

ViroPharma (VPHM)
Full Zacks research report: Click here.

BEAR OF THE DAY

Cooper Tire & Rubber (CTB)
Full Zacks research report: Click here.

EDUCATION

• Aggressive Growth: Stocks "Neglected" by Analysts. Learn more...

BEST OF PEOPLE AND PICKS

• Hatice just initiated Sells on HA, ALJ and WNR.
  View this player's complete portfolio: Click here.

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• Zacks.com Home Page
  
  
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Regards and Happy Investing,

Charles Rotblut, CFA
Senior Market Analyst
Zacks.com

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