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Dear Subscriber,
Finally there is a tad more reason for a decline in the general market. Combine Wednesday's news of slower housing starts with Thursday's increased mortgage delinquency news means that we are not making enough progress on the important housing front.
Then there is the jobs picture. Yes, the weekly jobless claim numbers continue to inch ever closer to 500,000. However, we really need to get around 400,000 new claims a week before the unemployment rate starts heading back in the right direction. We are clearly a long ways off from that mark.
Don't worry. I'm not turning bearish quite yet. We were due for a sell off. We should have at least one more good run in us before the year ends.
Be sure to check out these timely commentaries:
Initial Jobless Claims Flat(-ish)
Mortgage Delinquencies: Record High
Momentum Stock Picks-Nov. 19, 2009
Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
Today's Top Stories: Friday- November 20, 2009
ZACKS RANK BUY STOCKS
- Aggressive Growth - Universal Health Services, Inc. (UHS) reported third-quarter results on Oct 29 that included net income of $51.1 million, up from $37.0 million in the same period last year. Earnings per share were $1.03, compared to 73 cents one year ago. A 4% increase in revenues to $1.3 billion drove the strong results. Read More...
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Growth & Income - Crane Co. (CR) which boasts an industry-leading yield of 2.7%, recently declared a quarterly dividend of 20 cents per share. The company also posted solid results for the third quarter, raising the lower end of its earnings outlook. Read More...
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Momentum - Nordstrom Inc. (JWN) net sales were up 3.5% to $1.87 billion. Earnings came in one penny ahead of the Zacks Consensus Estimate at 38 cents per share. The company has beat in each of the last four quarters by an average of 3 cents, or 8%. Read More...
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Value - Cooper Tire & Rubber Company (CTB) reported third quarter results and continued its hot streak by beating the Zacks Consensus Estimate by 20.31%. Earnings per share were 77 cents compared to the Zacks Consensus of 64 cents. Sales rose 1% to $803 million from $794 million in the year ago period. Read More...
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ZACKS MUTUAL FUND RANK
- Best of Funds: Top European Equity Funds
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BEST OF ZACKS EQUITY RESEARCH
- Bull Of The Day:
Principal Financial Group (PFG)
Full Zacks research report: Read More...
- Bear Of The Day:
Sohu.com (SOHU)
Full Zacks research report: Read More...
- ZACKS INDUSTRY OUTLOOK: Hotels and Lodging
With some early signs of economic recovery, we believe that hotel occupancy will improve in the fourth quarter of 2009 and in 2010. Stocks covered are (MAR), (HOT), (MCS), (CHH), (WYN) and (MHGC). Read More...
- Grainger (GWW) Boosted by Acquisitions
- Dynavax (DVAX) Completes Hep-B Enrollment
- Massey (MEE) Acquires Coal Reserve
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EDUCATION: Momentum
The Trend is Your Friend: Trend Lines 101 Read More...
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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