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Dear Subscribers,
Typically pre-holiday trading days like last Friday are in the plus column because most everyone is in a good mood...not this time around. A worse than expected June Employment report soured the mood. This was followed up by an equally terrible Factory Orders report. Add it all up and we had a Royal Flush of 5 straight days in the red. I still think there is a little more downward pressure before capitulation kicks in and we get a relief rally. Look for a day in the not too distant future where the market is down -2-3% and you want to lose your lunch...that will be the time to trim shorts and go long.
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• I talk about the battle raging between importance of current earnings vs. future economic outlook.
• Bill Wilton provides Weekend Wisdom on how to avoid the 3 pitfalls of growth stock investing.
• Sheraz Mian talks about Bull & Bear Stocks of the Week: United Airlines {UAUA} and Alcoa {AA}.
• Tracey Ryniec and Mike Vodicka dissect the investment merits of AT&T in Stock Talk.
• Roundtable Review covers the sad jobs picture and market outlook. Plus 3 top stock picks of the week.
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
Today's Top Stories: Tuesday- July 06, 2010
ZACKS RANK BUY STOCKS
- Aggressive Growth - OMNOVA Solutions (OMN) reported quarterly results that showed net income of just over $15 million, triple the level one year ago. Earnings per share broke down to 29 cents, beating the Zacks Consensus Estimate by a dime. Read More...
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Growth & Income - AZZ Inc. (AZZ) now expects revenues in the range of $380 million to $395 million for fiscal 2011, up from its previous guidance of $310 million to $330 million. Moreover, it expects earnings per share of $2.65-$2.80, well above its previous outlook of $1.85-$2.20. Read More...
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Momentum - Treehouse Foods, Inc. (THS) Q1 revenue was up 12% from last year to $397 million. Earnings also came in strong at 59 cents, 16% ahead of the Zacks Consensus Estimate. Treehouse has been very solid over the last year, with an average earnings surprise of 21% over four quarters. Read More...
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Value - Bank of Montreal (BMO) reported fiscal second quarter 2010 results and, once again, year over year comparisons were good. It was the fifth consecutive quarter of rising revenue. Net income nearly doubled to $745 million from $387 million in 2009. Read More...
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ZACKS MUTUAL FUND RANK
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BEST OF ZACKS EQUITY RESEARCH
- Bull Of The Day:
Hibbett Sports, Inc. (HIBB)
Full Zacks research report: Read More...
- Bear Of The Day:
Buffalo Wild Wings (BWLD)
Full Zacks research report: Read More...
- ZACKS INDUSTRY OUTLOOK: Real Estate Investment Trust Outlook - July 2010
The U.S. Real Estate Investment Trust (REIT) industry that witnessed two strong back-to-back performances in first quarter 2010 and fourth quarter 2009 somewhat lost its momentum in its fiscal 2010 second quarter. Read More...
- Vicor Tech (VCRT) Makes 501(k) Filing
- Fresenius (FMS) Expands in Russia
- Aetna (AET) Faces Rating Action
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BEST OF ZACKS.COM PARTNER COMMENTARY
EDUCATION: Value
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VIP "InvestmentMAGE" value shops (SVU) and gathers a little profit with BUY calls in (CZZ) and (FXE). Read More...
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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