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Zacks #1 Stocks on the Move 06/18/2013

Company Name Symbol %Change
STAAR SURGIC STAA
10.98%
LUMOS NETWOR LMOS
5.70%
INSTEEL IND IIIN
5.28%
ERICKSON AIR EAC
5.10%
ASSURED GUAR AGO
4.98%
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German Comments Put Damper on Stocks

Optimism was on the rise thanks to rumors of a much more comprehensive European solution. That certainly was behind last week's rally. In fact, European stocks started Monday in positive territory until the Germans bummed everyone out.

I am referring to the comments from Merkel's Chief Spokesman, Steffen Seibert, when he said that the recent belief in a complete fix by next Monday (10/24) is a dream that will not become reality until next year. From there European stocks dived into the red taking our markets down with them.

This will create a higher hurdle for US companies to surmount to impress investors this earnings season. Results have been mixed to date. We need a lot better than that to break through the top end of the range at 1220. Still possible. But Monday's comments made it that much more difficult.

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Steve Reitmeister
Executive VP, Zacks Investment Research

 

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