Dear Subscribers,

Like I said yesterday, the Tuesday rally was a mirage. This proved out with the intraday collapse of the market on Wednesday when the Fed's Beige Book was released. What was so horrifying in that report to spark the sell off? It's a contrarian thing. So hang in there with me minute as I try and explain. The report sang from the same song sheet as Bernanke the past couple days; "Economic recovery on track. Most every indicator improving. But jobs will be weak for a while." That sounds pretty good, right? We'll not if you are a believer that the European debt issues will derail this recovery over coming quarters. So if the US economy right now is ONLY lukewarm, then how bad will it look when the slowdown in Europe hits our shores??? That is the thinking that went into the decline. So expect some more time under Dow 10,000.

Click below to read more top commentaries from Zacks.com:
•  Beige Book Blues?
•  Zacks Rank Video: Aggressive Growth Stock Picks
•  Top 5 High Yield Municipal Funds

Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

Today's Top Stories: Thursday- June 10, 2010

ZACKS RANK BUY STOCKS

• Aggressive Growth - Atheros Communications (ATHR) Zacks Consensus Estimates for full-year 2011 is now $1.92, up from $1.52. Estimates for the Zacks #1 Rank stock are averaging $2.13 for next year, up from $1.73. Read More...
   
• Growth & Income - Tyco Electronics (TEL) analysts estimate the company will grow its earnings per share 185.3% in fiscal 2010, 14.2% in fiscal 2011, and 13.5% per year for the long term. TEL's return on equity is 10.5%. And, the stock has a dividend yield of 2.4%. Read More...
   
• Momentum - Wabco Holdings, Inc. (WBC) Q1 earnings also came in strong at 51 cents, 104% ahead of the Zacks Consensus Estimate. The company has been easily exceeding expectations over the last three quarters with an average earnings surprise of 181%. Read More...
   
• Value - Consolidated Graphics, Inc. (CGX) reported first quarter results and surprised on the Zacks Consensus by a penny. But it was enough to extend the earnings surprise streak for the third quarter. Earnings per share were 48 cents compared to the consensus of 47 cents. Read More...
   

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

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• Bull Of The Day: Advance Auto Parts (AAP)
  
  Full Zacks research report: Read More...
  
  
• Bear Of The Day: Macerich Company (MAC)
  Full Zacks research report: Read More...
  
  
• ZACKS INDUSTRY OUTLOOK: U.S. Airline Industry Outlook - June 2010
  With the global economy continuing to improve, there is steady improvement in demand for air travel as well as cargo since the beginning of 2010. We are partial toward (UAUA) and (DAL). Read More...
  
  
• GM (MTLQQ) Recalls 1.5 Million Vehicles
• Travelers (TRV) Upgraded by A.M. Best
• Forest Labs (FRX) Strikes Deal

• Goldman Sachs needs to settle NOW! @ CNNMoney.com
• Brazilian Steel Firm Draws Put Action @ TheStreet.com
• Is a 2055 Target Fund Needed? @ MAINSTREET.com
• U-Haul and Parent Settle Price Fixing Charges @ FOXBUSINESS.com
• Europe's Woes Hurt U.S. Commercial Real Estate @ Kiplinger.com

EDUCATION: Growth and Income

The Tax Cut on Dividends Read More...

PeopleAndPicks.com:

VIP "ThisColoradoKid" is breaking the market bronco with BUY calls in (CUR), (CWEI) and (UNG). Read More...

• All About Zacks Rank #3 Holds
• Aggressive Growth Stock Picks-June 9, 2010
• Value Stock Picks-June 8, 2010

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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