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Dear Subscribers,
The main news on the day was an exceptionally strong August Retail Sales report. So this would seem to improve the case for the overall economy and yet stocks struggled to make any headway. Coming Wednesday, Thursday and Friday we get a slew of economic reports that could greatly affect market direction. Namely the Empire State Manufacturing survey Wednesday and Philadelphia Fed Survey Thursday which were both very poor showings last month helping spur double dip talk. Also on the docket we will get reports on Industrial Production, Jobless Claims and Consumer Sentiment. Plain and simple, the market is at an important juncture. Is it ready to climb above the 200 day moving average and make a sustained bullish move or will it retreat??? I am betting on retreat for a little while and hopefully get strong enough ammo from Q3 corporate earnings and GDP to sustain a move to Dow 11,000 and beyond.
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
Today's Top Stories: Wednesday- September 15, 2010
ZACKS RANK BUY STOCKS
- Aggressive Growth - Ballantyne Strong, Inc. (BTN) reported second quarter results that showed a 67% increase in revenues, to almost $33 million, the highest level the company has seen. Read More...
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Growth & Income - Yum! Brands Inc. (YUM) reported second quarter earnings per share of $0.58, beating the Zacks Consensus Estimate by 4 cents. Earnings grew 17% year-over-year. Read More...
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Momentum - Innophos Holdings, Inc. (IPHS) second-quarter revenue was up 10% from last year to $184 million. Earnings also came in strong at 79 cents, 18% ahead of the Zacks Consensus Estimate. Read More...
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Value - Textainer Group Holdings Ltd. (TGH) reported second quarter results surprising on the Zacks Consensus by 9 cents. Sales rose to $74.5 million from $54.4 million in the second quarter of 2009. Read More...
Learn how to profit from our exclusive Zacks Rank stock-ranking system with free resources. Read More...
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See all the great mutual fund resources.
BEST OF ZACKS EQUITY RESEARCH
- Bull Of The Day:
Hain Celestial Group (HAIN)
Full Zacks research report: Read More...
- Bear Of The Day:
McDermott International (MDR)
Full Zacks research report: Read More...
- ZACKS INDUSTRY OUTLOOK: Retail Industry Outlook - Sept. 2010
The economic recovery post-downturn still remains fragile and requires a boost from a sustained and significant improvement in jobs creation and income growth. Read More...
- Novell (NOVL) Unveils Cloud Manager
- Meridian (VIVO) Bullish About Fiscal 2011
- BP plc (BP) Buys into South China Sea Block
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BEST OF ZACKS.COM PARTNER COMMENTARY
EDUCATION: Aggressive Growth
Navigating IPO's Read More...
PeopleAndPicks.com:
VIP "dmonnie" reaps some profit and stays in the lead with SELL calls in (AFCE), (RBCN), (RGS) and (VMW). Read More...
NEW ZACKS VIDEOS:
SCREEN OF THE WEEK: Price to Sales Ratio
Kevin Matras talks about the Price to Sales ratio and why it's one of his favorite valuation metrics. Stocks highlighted include (JAKK), (POL), (ETN), (CSX) and (BLT). Read More...
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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