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Dear Subscribers,
After blasting above the 200 day moving average on Monday, the S&P 500 handed a little back on Tuesday. Gladly not enough to fall under the 200 day. That is good news for now, but it could prove very fleeting if the monthly jobs reports starting Wednesday do not paint an improving picture. What I mean is that we've accepted the notion that this is a jobless recovery and that was enough to get the economy and market to bounce to current levels. However, it is getting harder to imagine a sustained recovery without this important piece of the economic puzzle falling into place. If it does, then expect us to press higher above the 200 day averages. If not, then expect this to be another failed rally and we fall back under for a spell.
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
p.s. Discover all stock picks from all Zacks' trading services in this first time ever sneak peak. Learn More Now!
Today's Top Stories: Wednesday- August 04, 2010
ZACKS RANK BUY STOCKS
- Aggressive Growth - AVX Corp (AVX) reported first-quarter revenue of $396.5 million, up 8% sequentially and 36% year-over-year. The gross profit margin improved to 26%, up from 23% last quarter and 19% a year ago. Read More...
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Growth & Income - Lincoln Electric (LECO) announced second-quarter results on July 27. Sales increased 24.8% to $515.6 million. The company earned $0.77 per share, topping the Zacks Consensus by 9 cents, or 13.2%. Read More...
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Momentum - WABCO Holdings, Inc. (WBC) Q2 earnings came in strong at 63 cents, 21% ahead of the Zacks Consensus Estimate, moving the company's average earnings surprise over the last four quarters to 141%. Read More...
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Value - Lubrizol Corporation (LZ) surprised on the Zacks Consensus Estimate by 21%. Earnings per share were $2.88 versus the consensus of $2.38. It made just $1.92 in the year ago period. Revenue rose 26% to $1.4 billion. Read More...
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ZACKS MUTUAL FUND RANK
- Top 5 Equity Income Funds
Get income with Alpine Dynamic Dividend (ADVDX), Putnam Equity Income A (PEYAX), Eaton Vance Dividend Income A (EDIAX), Nicholas Equity Income (NSEIX) and American Century LIVESTRONG Income A (ARTAX). Read More...
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BEST OF ZACKS EQUITY RESEARCH
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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