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Dear Subscribers,
Earnings season is a clear winner for the bull market case. Yet, economic reports continue to come in at unimpressive levels such as Tuesday's reading of Consumer Confidence. The next important report will be the 2nd quarter GDP which comes out on Friday morning. I doubt the market will make a serious move in either direction until that news comes out. If we can come in at +2.5% or better than the recent rally should continue. If we come in markedly lower, then the market will most likely give back some of the recent gains. Keep your fingers crossed.
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
Today's Top Stories: Wednesday- July 28, 2010
ZACKS RANK BUY STOCKS
- Aggressive Growth - Danvers Bancorp (DNBK) saw net income for the second quarter rise to $4.9 million, from $0.14 million a year ago. Earnings per share came out to 24 cents, which was 5 cents higher that analysts were expecting. Read More...
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Growth & Income - Polaris Industries (PII) reported revenue of $430.9 million, up 25% year-over-year. The company earned $0.76 per share, an increase of 43.4% over the year-ago quarter. More importantly, Polaris beat the Zacks Consensus Estimate by 9 cents, or 13.4%. Read More...
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Momentum - Alaska Air Group, Inc. (ALK) second-quarter revenue was up 16% from last year to $976 million. Earnings came in strong at $2.29, 8% ahead of the Zacks Consensus Estimate. ALK is trading with a forward P/E multiple of 10X against its peers 17X. Read More...
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Value - SanDisk Corporation (SNDK) reported its second quarter results and posted yet another big beat of the Zacks Consensus. Earnings per share were $1.08 compared to the Zacks Consensus of 86 cents. Revenue jumped 61% to $1.18 billion. Read More...
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BEST OF ZACKS EQUITY RESEARCH
- Bull Of The Day:
UAL Corporation (UAUA)
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POSCO - ADR (PKX)
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- ZACKS INDUSTRY OUTLOOK: Oil & Gas Industry Stock Review - July 2010
Far too many factors weigh on oil prices -- from OPEC decisions and geostrategic tensions to the value of the U.S. dollar and seasonal variables -- to definitively size up each one of them for their respective impact on prices. Read More...
- Western Union (WU) Delivers Ahead
- Nasdaq (NDAQ) Beats by 3 Cents
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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