Dear Subscriber,

The Fed says economic activity is "leveling out", which is better than its previous assessment of a "slowing" contraction. The Committee also will "gradually slow" the purchase of billions of dollars in T-Notes, and expects to be done by October.

In the Analyst Blog, Dirk van Dijk compared the Fed's recent statement with its previous one, and offered a paragraph by paragraph interpretation of the differences.

Read: Notes on Fed Statement


By the way, have you noticed that the oil & gas exploration and production industry has been enjoying a positive trend for months now? Before heading out on vacation, Charles Rotblut offered some reasons behind this move and a way to capitalize in the Industry Rank Analysis.

Read: Better Conditions for E&P Companies

Jim Giaquinto
Editor, Zacks.com
Profit from the Pros

Today's Top Stories: Thursday- August 13, 2009

ZACKS RANK BUY STOCKS

• Aggressive Growth - Intuitive Surgical Inc. (ISRG) second quarter results included earnings per share of $1.62, 28% higher than the Zacks Consensus Estimate of $1.27. Net income came in at $62.4 million, up from $51.2 million in the same period last year. Read More...
   
• Growth & Income - TESSCO Technologies Inc. (TESS) recently declared its first-ever quarterly dividend of 10 cents per share. The new dividend translates into an industry-leading yield of 3%. The company delivered first-quarter earnings of 38 cents per share, surpassing the Zacks Consensus Estimate by an impressive 124%. Read More...
   
• Momentum - Schweitzer-Maudit International Inc. (SWM) earnings easily beat expectations, coming in at $1.02 against the Zacks Consensus Estimate of 45 cents. Management noted that for the first 6 months of the year, net cash from operations was up to $22.9 million from $12.3 million last year. Read More...
   
• Value - Multi-Fineline Electronix Inc. (MFLX) is riding the smartphone wave as sales rose 4.1% in the third quarter. The company has surprised on estimates 3 out of the last 4 quarters by an average of 26.33% and has a price-to-book ratio of 1.87. Read More...
   

Learn how to profit from our exclusive Zacks Rank stock-ranking system with free resources. Read More...

• Best of Funds: Top Convertible Fixed Income Funds
  Looking to convert your portfolio? Checkout the Davis Appreciation & Income A (RPFCX), Franklin Convertible Securities A (FISCX) and Putnam Convertible Income-Growth A (PCONX). Read More...
  

See all the great mutual fund resources.

• Bull Of The Day: Cisco Systems (CSCO)
  Full Zacks research report: Read More...
  
  
• Bear Of The Day: Sunoco (SUN)
  Full Zacks research report: Read More...
  
  
• ZACKS INDUSTRY OUTLOOK: Healthcare: HMOs and Hospitals
  Long-term growth of the healthcare sector overall continues to be fuelled by aging of the population and decisions in Congress related to government funding. We discuss (UHS), (MD) and (AGP). Read More...
  
  
• Schering-Plough (SGP) Settles Lawsuits
• Northrop (NOC) Gets New Army Deal
• JPMorgan (JPM) Mulls Office Sale

• How Military Members Can Benefit From a Roth
• New Credit-Card Rules Take Effect Soon

EDUCATION: Growth and Income

Size Matters: Market Capitalization Read More...

PeopleAndPicks.com:

Player "TickerBandit" ponders the market's reaction to the FED. "Is there really anything about this FED release that is going to surprise anyone?"..."So do you believe the market's initial reaction to the FED release? Or are you calling it's bluff?" Read More...

• Growth & Income Stock Picks-Aug. 12, 2009
• Aggressive Growth Stock Picks-Aug. 11, 2009
• Increasing P/Es for Stocks on the Move

PROFIT TRACKS: PEG

This strategy utilizes the PEG ratio to find those stocks priced right and ready for positive movement. Stocks covered are (KMGB), (LZ), (STEC) and (TAST). Read More...

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Regards and Happy Investing,

Charles Rotblut, CFA
Senior Market Analyst
Zacks.com

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