Zacks Analyst Blog Highlights: American Express, Bank of America, Capital One, J.P. Morgan and Agria Corp.

Chicago, IL – June 26, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: American Express (AXP - Analyst Report), Bank of America (BAC - Analyst Report), Capital One (COF - Analyst Report), J.P. Morgan (JPM - Analyst Report) and Agria Corp. (GRO - Analyst Report).

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Here are highlights from Thursday’s Analyst Blog:

Initial Claims Head Back Up

Instead of spending less than they were earning, people relied on asset appreciation -- in both equities and real estate. As the appreciation turned to depreciation, people were left with very little to fall back on. If the house is underwater, there is no way to tap the equity in the house to make ends meet until a new job is found. Instead, people turn to their credit cards (assuming that their credit limits have not been slashed) as a last resort source of liquidity. When they max the cards out, they start to default.

This is a key reason why the credit card charge off rate is now at a record high 10.62% as of May, a sharp rise from 9.97% in April. This is very bad news for the big players in the credit card market including American Express (AXP - Analyst Report), Bank of America (BAC - Analyst Report), Capital One (COF - Analyst Report) and J.P. Morgan (JPM - Analyst Report).

GRO Misses Filing Deadline Again

This morning Agria Corp. (GRO - Analyst Report) announced that they would be unable to complete their 20-F annual report for the period ending December 31, 2009 by the required June 30, 2009 filing date.

Agria attributed the delay to their inability to complete their financial statements due to two ongoing investigations being conducted by independent firms. The investigations surround the valuation of sheep and date tree assets, the authenticity of certain sales contracts, bank statements and tax invoices of P3A, and the verification of titles of farm land which were leased by P3A in 2008.

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Read the full analyst report on AXP

Read the full analyst report on BAC

Read the full analyst report on COF

Read the full analyst report on JPM

Read the full analyst report on GRO