Company Description

Healthspring coordinates care plans through the Medicare Advantage market in Alabama, Florida, Illinois, Mississippi, Tennessee and Texas. The company also provides a national stand-alone Medicare prescription drug plan.

Healthspring Surprised by 22.22% in the Third Quarter

On Oct 29, Healthspring reported its third quarter results and easily beat the Zacks Consensus by 14 cents per share. Earnings per share were 77 cents compared to the Zacks Consensus Estimate of 63 cents. The company reported 53 cents in the year ago period.

Premium revenue rose 26% to $649.8 million compared to the year ago period. Membership in the Medicare Advantage jumped 19.4% compared to the year ago period and was up 15.1% even when compared with the end of 2008. Stand-alone PDP member also grew 11.6% compared to the third quarter of 2008.

As it said in its second quarter results, the company again emphasized that its Florida and Part-D operations have been outperforming.

Raised 2009 Guidance

Given that its Florida business continues to be strong, the company raised full year EPS guidance to the range of $2.30 to $2.40 from its prior guidance of $2.10 to $2.25.

It also is bullish on the number of members it expects under the Medicare Advantage program. The range has been adjusted higher to 188,000-189,000 from 186,000-188,000.

Zacks Consensus Estimates Rise

Given the raised guidance, analysts have moved to raise estimates. For the fourth quarter, the Zacks Consensus is up 3 cents to 62 cents in the last 30 days.

The full-year Zacks Consensus Estimate rose 7.8% to $2.34 from $2.17 per share just a month ago which is in the company's new guidance range. All 9 analysts raised in that time. Analysts expect 2009 earnings growth of 10.43%.

Analysts are optimistic about 2010, despite the ongoing uncertainty about healthcare reform. They boosted estimates for the full year by 16 cents to $2.22 per share.

Value Fundamentals

Healthspring is a Zacks #1 Rank (strong buy) stock. It is trading with a price-to-book of just 1.06. The company has a 5-year average return on equity (ROE) of 14.65%.

Zacks Investment Research

Chicago, IL - June 25, 2009 - Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week's analysis include Stericycle (SRCL), Quest Diagnostic (DGX), Biogen Idec (BIIB), AmeriSourceBergen (ABC), Abbott Labs (ABT), Sunoco (SUN), Tesoro (TSO), AK Steel (AKS), Nucor (NUE), United States Steel (X), Fifth Third (FITB), First Horizon National (FHN), Zions Bancorp (ZION), Suntrust Banks (STI), Franklin Resources (BEN), AllianceBernstein Holding (AB), Texas Instruments (TXN), National Semiconductor (NSM) and Micron (MU).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This Week: Second-Quarter Earnings Outlook

Second-quarter earnings will be ugly.

Median EPS is projected to drop 21.2%. Nearly 75% of S&P 500 members are forecast to report earnings that are lower than a year ago. 62 companies are projected to have lost money.

These numbers are not unexpected given that we remain in the midst of a recession. They could even prove to be too pessimistic given the propensity of companies to surprise and the relative improvements in economic conditions.

Growth Industries

The one sector projected to show the strongest growth is also the one with the highest political risk - Medical. The majority of medical care providers, health insurers, pharmacy benefit managers and drug companies should report a year-over-year increase in profits.

Zacks #2 Rank ("buy") stocks expected to report growth include Stericycle (SRCL) (+14.4%), Quest Diagnostic (DGX) (+13%), Biogen Idec (BIIB) (+9.8%), AmeriSourceBergen (ABC) (+7%) and Abbott Labs (ABT) (+5%).

The medical sector is less economically sensitivity than other sectors. Plus, the expansion of Medicare Part D has made prescriptions more affordable.

The obvious risk, however, is the ongoing discussions about healthcare reform. Though these talks have no impact on current earnings, they could significantly impact future earnings.

Another area of growth is refining. Sunoco (SUN) and Tesoro (TSO) are expected to have increased second-quarter profits by 46% and 223.7% respectively. These impressive numbers are a reflection of last year's spike in oil prices.

The problem is that the recent rise in oil prices is hurting margins.

Full-year earnings estimates are falling for both companies, which means even if TSO and other refiners top expectations, guidance could be weak. Our oil analyst, Sheraz Mian, downgraded TSO last month to a long-term sell recommendation.

Industries With Profit Declines

Since most industries will show a year-over-year decline in median EPS growth, I'm going to focus on 2 industries with the biggest projected declines.

Steel is among the worst, with 3 companies - AK Steel (AKS), Nucor (NUE) and United States Steel (X) - projected to report year-over-year declines in excess of 130% each.

These companies are facing very tough comparables because of last year's commodity bubble. Though AK Steel (AKS) said on Tuesday that its results would show a sequential quarterly improvement, any narrower loss would be because of cost-cutting and not improving business conditions.

NUE is a Zacks #4 Rank ("sell") stock. AKS and X are Zacks #3 Rank ("hold") stocks.

Banks will not fare much better. Regional banks are forecast to report a median decline of 98.7% and the large banks are projected to report a 61.3% decrease. Though the government has deemed some banks too big to fail, the FDIC has shut down 40 since the start of the year.

Home foreclosures have yet to peak and credit card default rates are rising. At the same, the ongoing housing slump and tighter credit standards continue to hurt mortgage originations. And though Q208 was not great for the banks, the credit crunch was not as severe as what was witnessed in the second half of 2009.

The largest year-over-year declines is likely to come from Fifth Third (FITB) (-689.3%, the bank is swinging from a profit, on an adjusted basis, to a loss), First Horizon National (FHN) (-211.6%), Zions Bancorp (ZION) (-189.7%) and Suntrust Banks (STI) (-166%).

Where To Look For Surprises

There are 2 industry groups that I would keep an eye on for potential positive surprises - Finance-Investment Management and Electronic-Semiconductor.

As I said last week, profit forecasts are rising for several mutual fund managers, including Franklin Resources (BEN) and AllianceBernstein Holding (AB).

Positive mutual fund inflows and growth in assets under management have some analysts rethinking their forecasts. However, since many of the covering analysts have not followed suit, the consensus earnings estimates could prove to be too low.

The semiconductor industry appears to be in the early stages of a recovery. Therefore, while profits will be terrible (down -61.5%), they could very well be better than forecast.

Texas Instruments (TXN) raised its Q2 forecast earlier this month, SEMI's (a chip industry association) book-to-bill ratio has increased for 3 consecutive months and analysts have been revising their full-year forecasts higher. Plus, National Semiconductor (NSM) beat by 18 cents when it reported last week.

We'll get another early indicator of how chip earnings look relative to expectations this afternoon, when Micron (MU) reports. The consensus earnings estimate calls for a loss of 43 cents per share.

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These numbers are not unexpected given that we remain in the midst of a recession. They could even prove to be too pessimistic given the propensity of companies to surprise and the relative improvements in economic conditions.

Growth Industries

The one sector projected to show the strongest growth is also the one with the highest political risk - Medical. The majority of medical care providers, health insurers, pharmacy benefit managers and drug companies should report a year-over-year increase in profits.

Zacks #2 Rank ("buy") stocks expected to report growth include Stericycle (SRCL) (+14.4%), Quest Diagnostic (DGX) (+13%), Biogen Idec (BIIB) (+9.8%), AmeriSourceBergen (ABC) (+7%) and Abbott Labs (ABT) (+5%).

The medical sector is less economically sensitivity than other sectors. Plus, the expansion of Medicare Part D has made prescriptions more affordable.

The obvious risk, however, is the ongoing discussions about healthcare reform. Though these talks have no impact on current earnings, they could significantly impact future earnings.

Another area of growth is refining. Sunoco (SUN) and Tesoro (TSO) are expected to have increased second-quarter profits by 46% and 223.7%, respectively. These impressive numbers are a reflection of last year's spike in oil prices.

The problem is that the recent rise in oil prices is hurting margins.

Full-year earnings estimates are falling for both companies, which means even if SUN and TSO top expectations, guidance could be weak. Our oil analyst, Sheraz Mian, downgraded TSO last month to a long-term sell recommendation.

Industries With Profit Declines

Since most industries will show a year-over-year decline in median EPS growth, I'm going to focus on 2 industries with the biggest projected declines.

Steel is among the worst, with 3 companies - AK Steel (AKS), Nucor (NUE) and United States Steel (X) - projected to report year-over-year declines in excess of 130% each.

These companies are facing very tough comparables because of last year's commodity bubble. Though AKS said yesterday that its results would show a sequential quarterly improvement, any narrower loss would be because of cost-cutting and not improving business conditions.

NUE is a Zacks #4 Rank ("sell") stock. AKS and X are Zacks #3 Rank ("hold") stocks.

Banks will not fare much better. Regional banks are forecast to report a median decline of 98.7% and the large banks are projected to report a 61.3% decrease. Though the government has deemed some banks too big to fail, the FDIC has shut down 40 since the start of the year.

Home foreclosures have yet to peak and credit card default rates are rising. At the same, the ongoing housing slump and tighter credit standards continue to hurt mortgage originations. And though Q208 was not great for the banks, the credit crunch was not as severe as what was witnessed in the second half of 2009.

The largest year-over-year declines are likely to come from Fifth Third (FITB) (-689.3%, the bank is swinging from a profit, on an adjusted basis, to a loss), First Horizon National (FHN) (-211.6%), Zions Bancorp (ZION) (-189.7%) and Suntrust Banks (STI) (-166%).

Where To Look For Surprises

There are 2 industry groups that I would keep an eye on for potential positive surprises - Finance-Investment Management and Electronic-Semiconductor.

As I said last week, profit forecasts are rising for several mutual fund managers, including Franklin Resources (BEN) and AllianceBernstein Holding (AB).

Positive mutual fund inflows and growth in assets under management have some analysts rethinking their forecasts. However, since many of the covering analysts have not followed suit, the consensus earnings estimates could prove to be too low.

The semiconductor industry appears to be in the early stages of a recovery. Therefore, while profits will be terrible (down -61.5%), they could very well be better than forecast.

Texas Instruments (TXN) raised its Q2 forecast earlier this month, SEMI's (a chip industry association) book-to-bill ratio has increased for 3 consecutive months and analysts have been revising their full-year forecasts higher. Plus, National Semiconductor (NSM) beat by 18 cents when it reported last week.

We'll get another early indicator of how chip earnings look relative to expectations tomorrow, when Micron (MU) reports. The consensus earnings estimate calls for a loss of 43 cents per share.

Zacks Premium and Zacks Elite subscribers can view the Zacks Industry Rank List at http://www.zacks.com/zrank/zrank_inds.php. This interactive list allows you to see all of the companies, and their Zacks Rank, within more than 200 industries. Shown below is the Zacks Sector Rank List, which shows the trend in estimate revisions on a broader scale.

Sector Rank as of Jun 24
Sector	This Week's Zacks Rank	Last Week's Zacks Rank	FY09 Revisions Ratio	FY09 Estimates Revised Up	FY09 Estimates Revised Down
Retail-Wholesale	2.57	2.52	2.79	419	150
Consumer Staples	2.78	2.80	1.91	174	91
Medical	2.87	2.91	1.20	243	202
Consumer Discretionary	2.89	2.85	0.93	136	146
Computer and Technology	2.93	2.94	1.98	513	259
Utilities	2.98	2.97	0.74	60	81
Oils-Energy	3.01	3.02	0.94	340	363
Business Services	3.02	3.01	1.02	50	49
Construction	3.05	3.18	0.44	36	81
Conglomerates	3.07	2.96	0.64	9	14
Aerospace	3.08	3.13	0.44	11	25
Auto-Tires-Trucks	3.11	3.06	0.51	21	41
Basic Materials	3.13	3.10	0.71	131	185
Industrial Products	3.16	3.18	0.78	85	109
Finance	3.17	3.17	0.85	454	533
Transportation	3.30	3.25	0.40	77	191

Charles Rotblut, CFA, is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.

Zacks Investment Research

Earlier in February, the $787B economic stimulus package was passed in the Senate and House. The $150B in planned healthcare spending will include $25B towards the expansion of COBRA, $20B for health technology, and $85B for Medicaid assistance to states. The package clearly aims to improve the infrastructure of the healthcare industry and ultimately lower costs and expand access to more Americans.

OPPORTUNITIES

Health technology holds promise of improved operating efficiencies for many parts of the healthcare industry, hospitals included. However, in the short term those that stand to benefit the most from the stimulus are the companies whose business models are based on information technology platforms.

One such company is BioScrip, Inc. (BIOS), a specialty pharmacy services provider and pharmacy benefit manager. Bioscrip operates two interrelated business segments, namely: Specialty Services, which is comprised of specialty pharmacy distribution and clinical management services; and PBM Services, which is comprised of pharmacy benefit management and traditional mail services. We currently rate the stock of Bioscip a Buy.

Despite our currently neutral stance on managed care providers overall, we continue to rate WellPoint (WLP) as a Buy given its broad product offering, geographic reach and potential for added synergy gains from relatively recent acquisitions. That said, we believe the recent action by CMS to suspend the company from enrolling new patients in the health insurance Medicare Advantage plan and the prescription drug benefit, Medicare Part D will add to negative sentiment in the short term. We believe the action by CMS is reversible and highlights operational issues that can be addressed by management in the short term.

Another current Buy recommendation is NovaMed Inc. (NOVA). NOVA is an emerging healthcare services company engaged in the operation of ambulatory surgery centers (ASCs) and the provision of optical products and services to eye-care professionals. We remain positive with the company's performance to date, given the continued strength of cash flows from operations and same facility revenue growth.

WEAKNESSES

Medicaid-focused managed care providers are, to some degree, countercyclical and often perform well in mild recessions. However, and despite the $85B allocated to Medicaid in the stimulus, we remain cautious at this point, given the severity of the current economic downturn and uncertainties surrounding healthcare reform. Unlike other managed care players, Medicaid managed-care companies are highly reliant on funding from state governments, which in turn are subject to budgetary constraints and policy changes at the federal level.

We expect hospitals to gain some relief from the $15B in Medicaid assistance earmarked for immediate distribution to help close budget gaps coupled with the expansion of COBRA. COBRA provides temporary continuation of health coverage in the event of a job loss.

However, we believe the hospital sector will remain under pressure for the remainder of 2009 given anticipated lower consumer spending, high unemployment, and shifts in payer mix further already weakening 4Q08 admission numbers and increasing bad debt levels. We note that hospitals by law must treat all patients in need of emergency care, regardless of whether they have insurance.

We currently rate both Community Health Systems (CYH) and Universal Health Services, Inc. (UHS) with Hold recommendations.Zacks Investment Research

After all, the big move has only brought the Dow Jones Industrial Average ($DJI) up to early February levels. How confident were you feeling about the markets 2 months ago? My guess is that you were worried.

But sentiment is better now. Why? There is a belief that we've seen the bottom and the U.S. is moving closer to a recovery.

Certainly, there are signs of improvement. The pace of economic deterioration has slowed. Profits for many companies are not as bad as feared. Even the VIX, a measure of fear, is falling.

On the other hand, we have yet to solve the automotive or bank problems.

Though Larry Kudlow didn't want to hear me bring it up, General Motors (GM) is a real threat. No one knows what a structured bankruptcy is going to look like, much less what impact it will have on the rest of the automotive industry. A disruption caused by GM could impact not only its competitors and its suppliers, but everyone who sells to those companies.

As far as the banks are concerned, the stress tests are only part of the issue. As our banking analyst Neena Mishra noted yesterday, the most recent data shows that many TARP recipients cut back on their lending activities in February. Some banks are now talking about restarting the foreclosure process after a temporary freeze. And, credit card default rates are still rising.

The bulls may not want to talk about these issues, but they are real and have the potential to send the markets to new lows.

The other scenario I can foresee happening is some type of resolution to both the automotive and banking crisis combined with a range-bound stock market. This would put the U.S. closer towards recovery and help investors regain confidence.

I am hopeful the second scenario becomes reality, but I am worried about new lows being realized.

Portfolio Updates

We are going to sell Shanda Interactive (SNDA) on Monday. The stock has been very volatile as of late and we 3-month gain of 70%. I still like the company and will consider buying it back at a later date.

AmBev (ABV) was added to the Focus List on Wednesday. This is a Brazilian brewer and beverage bottler with exposure to many markets worldwide. Earnings estimates are trending higher and our Latin America analyst just raised his price target on the stock.

The Scotts Miracle-Gro Company (SMG) was added to the Focus List on Tuesday. We've been watching this stock for a little while, initially holding off on adding it because of concerns about consumer spending. However, further increases in earnings estimates combined with signs that retail sales have not fallen as much as feared gave us the confidence to add this stock.

ConAgra Foods (CAG) was added to the Focus List last week. The company topped third-quarter expectations and reaffirmed its fiscal 2009 guidance. We liked that several analysts raised their 2010 profit projections. The low valuation was also a plus.

PharMerica (PMC) was added to the Focus List last week. PMC is a pharmacy benefit managers that serves hospitals and nursing homes. Fears about healthcare reform unfairly sent the stock lower, creating a buying opportunity for us.

The Markets

There are 3 big things you should notice on the charts:

• First, despite the big rally, the Dow and the S&P 500 (SPX) are still showing losses for 2009.
• Second, even if the Dow and the S&P 500 were to improve to their Dec 31 levels, an area of strong resistance exists that could keep us from going higher.
• Finally, the 200-day moving average is still trending down. This is a bearish sign and signals that we have yet to move out of the bear market.

Zacks Investment Research

When President Obama's administration released the proposed budget for the upcoming fiscal year, drug stocks quickly dropped. Fears of socialized medicine, or "Hillary-Care 2.0" turned investors away from the sector.

Was the drop warranted?

There are 6 key components to healthcare reform that could have a meaningful impact on pharmaceutical and biotechnology companies in the near future.Four of these are potentially negative, whereas the other 2 are potentially positive.

First Potential Negative: Increasing Pricing Rebates

The new proposal calls for an increase in Medicaid rebates from the current level of 15% to 21%. This equates to a 6% decrease in pricing power by all the companies in our universe into the Medicaid market. If we delve deeper into the ramification of this action, we see that the potential earnings impact for most large pharmaceutical companies is in the area of 1%, at most.

Most pharmaceutical companies average roughly 5% to 20% of their U.S.business to Medicare / Medicaid. Some companies, including Wyeth (WYE), Pfizer (PFE), and Abbott Labs (ABT) are on the low-end, whereas others, such as Bristol-Myers Squibb (BMY), Eli Lilly (LLY), Merck (MRK), and Gilead (GILD) are on the high-end.

The overall impact to the top-line is muted significantly for companies with greater sales outside the U.S., including PFE, ABT and Johnson & Johnson (JNJ).

Notice Abbott and Pfizer are on the right side of that list twice, low exposure to Medicaid, high percent of sales outside the U.S. But nevertheless, we would classify the 1% EPS risk associated with increased pricing rebates as mostly bark, only a tiny bite.

Segment Analysis For Top Drug Companies
Company	% U.S. Revenues*	Est. % Govt. Biz	% At Risk Exposure
Abbott Labs	48%	~8%	~4%
Bristol-Myers	59%	~14%	~9%
Johnson & Johnson	51%	~9%	~5%
Merck & Co.	56%	~10%	~6%
Schering-Plough	30%	~8%	~3%
Eli Lilly & Co.	54%	~18%	~10%
Pfizer, Inc.	42%	~6%	~3%
Wyeth, Inc.	47%	~5%	~2%
*Revenues include all operations, not just Pharmaceuticals

Second Potential Negative: Biologic Generics

It is clear that we will have some sort of path to approval for generic biologic drugs, or "biosimilars," in the near-future. New draft legislation is expected to call for 10 years of market data exclusivity for new biologic drugs - a victory for the biotech industry as Representative Henry Waxman (D-CA), Chairman of the House Energy and Commerce Committee, recently introduced a bill calling for only 5 years of data exclusivity.

But biosimilars will not be as devastating to biotech products as generics were to small molecules. Manufacturing biologic drugs is significantly more cost prohibitive and knowledge intensive than small molecules.

Biotechnology companies themselves often struggle with manufacturing scale-up and meeting demand. Manufacturing Eli Lilly's Erbitux or Amgen's (AMGN) Enbrel is no easy task. There are few generic manufacturers with the necessary expertise, or capital required, to manufacture large batches of biosimilars.

And, there are significant additional hurdles. If the FDA will require proof of bioequivalency, then generic manufacturers will need to start doing costly large-scale clinical trials - something most will shy away from doing. Conversely, if the FDA does not require a bioequivalency study, we believe most doctors will shy away from using the "biosimilar" products because they know the complexity of the manufacturing process and have no proof that the generic Aranesp really is identical to the branded Aranesp.

It's a catch-22 that generic companies looking to break into the biologic market will have to deal with.

That being said, firms with potentially the biggest risk exposure to generic biologic legislation include Amgen and Biogen Idec (BIIB). Teva Pharmaceuticals (TEVA) is most likely the biggest winner.

Top Biologic Drugs And Their Patent Expiration
Neupogen (Amgen)	2013	Neulasta (Amgen)	2015
Aranesp (Amgen)	2014	Enbrel (Amgen)	2012
Myozyme (Genzyme)	2016	Fabrazyme (Genzyme)	2015
Herceptin (Roche)	2019	Avastin (Roche)	2018
Rituxan (Roche)	2018	Lucentis (Roche)	2018
Erbitux (Eli Lilly)	2017	Remicade (J&J)	2014
Humira (Abbott)	2016	Synagis (AstraZeneca)	2018

Third Potential Negative: Drug Reimportation

A consortium of 4 Senators (Dorgan D-ND, Stabenow D-MI, McCain R-AZ, and Snowe R-ME) introduced in early March 2009 the, "Pharmaceutical Market Access and Drug Safety Act." The bill would allow U.S.-licensed pharmacies and drug wholesalers to import FDA-approved medications from Canada, Europe, Australia, New Zealand and Japan - areas where drug prices are on average 35% to 55% lower than in the U.S. The legislation would also allow individual consumers to purchase prescription drugs for personal use from safe, reliable, FDA-inspected Canadian pharmacies.

The Congressional Budget Office (CBO) estimates the bill would save American consumers $50 billion over the next decade, including more than $10 billion in federal government savings. If we assume the savings are linear, or average roughly $5 billion per year, that represents approximately 2% of the total U.S. $250 billion pharmaceutical market. The EPS impact from a 2% haircut to the top-line of each pharmaceutical company, assuming drug reimportation hits everyone equally, is extremely manageable, and will most like average no more than 1% to 2% per company if enacted.

Fourth Potential Negative: Tax Reform

(This also the one with the most teeth.) .

Tax reform has little to do with fixing the healthcare system and more to do with closing loopholes and going after drug company's profits directly.  It is also by far the most socialistic approach to the problem, as we would classify drug reimportation and biosimilars as more capitalistic approaches.

Over the past several years large-pharmaceutical companies have gotten quite good at lowering their effective tax rates thanks to foreign subsidiaries and R&D credits. In fact, the average tax rate using the 14 largest U.S-based pharmaceutical and biotech companies in 2008 was 23%.

It is possible that the President's proposal could raise the effective rate for each firm to 30% by closing these loopholes and cutting R&D tax credits.

That equates to a 7% increase in effective tax rate for the average company, or as much as a 20% to 30% decrease in net income. The details on the tax reform aspect to President Obama's proposal have yet to be divulged, but this does have the potential to be a significant negative for our coverage universe.

2008 Tax Rates for Top U.S. Drug Companies
Abbott Labs	22%	Amgen	22%
Bristol-Myers	22%	Alcon, Inc.	15%
Genentech	36%	Biogen Idec	29%
Genzyme	34%	Gilead Sciences	27%
Johnson & Johnson	23%	Eli Lilly & Co.	21%
Merck & Co.	17%	Pfizer, Inc.	22%
Schering-Plough	15%	Wyeth, Inc.	30%

It's not all potentially bad news though with respect to healthcare reform.We see two potentially very positive changes that could emerge as a result of new legislation.

First Potential Positive: New Research Funding

In early March 2009, President Obama reversed a standing executive order from the previous administration by lifting the federal ban on human clinical testing of embryonic stem cells. This opens the door to potentially billions of dollars in government funding for this new, and potentially breakthrough, platform.

Stem cell companies, although mostly small and unprofitable, are the biggest direct beneficiary of the news. However, big pharmaceutical companies are clearly interested in stem cell research, and with a significantly more friendly administration in control, we may see a big push in this area in the coming years.

Besides opening up funding for stem cell research, the Obama administration has made it clear it wants to see additional increases in funding for infectious diseases such as HIV/AIDS and Hepatitis-C, as well as for cancer and obesity-driven diseases such as diabetes and cardiovascular disease.  At this point, similar to the proposed tax reform, the details are thin. How much money the government will spend and who will get the money remains to be seen, but Genzyme (GENZ) and Gilead would seem to be the two biggest beneficiaries of increased funding in their core areas.

Second Potential Positive: Increase Coverage

This is the "no-brainer" when it comes to how universal healthcare would benefit big drug companies. There are an estimated 40 million people living in the U.S. without health insurance. Opening up some sort of government sponsored program that would insure even half of these people would be a significant revenue driver. We would view this as a systemic benefit across the entire universe of healthcare companies.

Potentially another 20 million Americans looking to use prescription drugs could mean as much as another $25 billion in drug sales per year. That would equate to an increase of over 10% in 2010. Therefore, even if pricing drops by 6% and reimportation takes down sales by another 2-3%, the net top-line impact of Obama's healthcare reform may be negligible if the size of the target market increases.

Healthcare Reform Is Necessary

Fixing healthcare, or at least starting on a long-term solution, is at the center of President Obama's plans for the next 4 years, and for good reason.

According to the National Center for Policy Analysis, the unfunded liability associated with Medicare / Medicaid is roughly 7x that of the current unfunded liability for Social Security. By 2030, it grows to 15x the size.

Social Security may be the "third rail" in American politics, but Medicare / Medicaid is the train bearing down on the tracks.

Still Waiting on the Details

It is also critical to realize that many of the details to President Obama's proposal have yet to be ironed out. That debate will take place on the floor of the House and Senate over the next few months.

What was released last month was more a broad stroke, sweeping legislation, plan of action. The President called for a $634 billion healthcare reform reserve fund over 10 years aimed at fixing many of the problems that exist with the current system. This $634 billion is paid for through $318 billion in tax increases on Americans earning over $250,000 and $316 billion in savings to be squeezed from drug makers, hospitals and managed-care companies.

The net result of healthcare reform is likely to be limited on big pharmaceutical earnings.

As noted above, the effective tax rate change has the potential to take the biggest bite out of profits. What we may end up seeing is a small reduction in revenue growth rates for the largest firms by 2% to 4%, with almost this entire drop hitting the gross margin line. Operating margins are likely to remain stable as most of the company look to cut costs and synergize through mega-mergers (Pfizer-Wyeth, Merck-Schering, Roche-Genentech). The mega-merger trend should continue, with names like Bristol-Myers, Eli Lilly, Sanofi-Aventis (SNY), and AstraZeneca (AZN) most likely the next to jump into the fray. Net margins could take a hit if tax rates increase, which would certainly have a negative impact on earnings, but we expect that this type of broad-based impact to the entire sector will have only limited impact on applied valuation multiples.

When the President's budget is finalized we should get a better sense on how the above 6 forces will impact each name individually. At this point, the fear of healthcare reform seems entirely more bark than bite. Although there is bite, the Amex Pharmaceutical Index is now down 13% YTD, and our calculations show that the expected earnings hit, excluding the tax rate issue, is significantly less.

Wishing you luck,
Jason Napodano, CFA
Senior Analyst, Zacks Equity Research

Jason covers the pharmaceutical industry for Zacks Equity Research. His article on how health care reform may impact the drug sector helps us view certain stocks in a new light.For example, Teva Pharmaceuticals is identified as a potential big winner with new generic biologic legislation. If you'd like to see Jason's in-depth research report on TEVA issued April 1, you may download now by starting a free trial to our Zacks Premium service.

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The quarter was characterized by a solid increase in procedure volume (up 9.5% y/y) despite essentially flat y/y same-store revenues, which reflected the impact of Medicare reimbursement cuts and the weaker economy. Nonetheless, the stock has been under further pressure given uncertainties related to healthcare reform and potential changes to Medicare.

We believe the stock has been oversold and move to a Buy recommendation at current levels. We have valued shares of AmSurg on a forward price/earnings (P/E) basis, as well as in comparison to similar firms in the healthcare facilities sector. Our $20 target price represents a multiple of 12x our FY09 EPS estimate of $1.66. Zacks Investment Research

Obama Budget Targets Medicare Advantage Providers

President Obama's first budget included a $634B "down payment towards universal coverage" to help pay for healthcare reform over the next 10 years, with approximately half ($318B) to be financed by tax increases that include reducing the mortgage and charity deduction for high income Americans.

The budget outline included:   

• Charging wealthier seniors more for the Medicare Part D drug benefit (as is done for Medicare Part B now)    
• Cutting Medicare HMO payments by $175B over ten years, largely by from requiring health insurers to competitively bid to offer Medicare Advantage plans    
• Reducing Medicare hospital payments by $17B over ten years by bundling inpatient and outpatient reimbursement to include the 30-days after discharge    
• Cutting Medicare hospital payments by $8.4B over ten years for re-admissions resulting from substandard care

With almost 11 million seniors now receiving medical and drug benefits through Medicare Advantage plans, the move is significant though not totally unexpected.  Medicare Advantage has been controversial given that the plan providers are paid an average 14% more per beneficiary than what traditional government Medicare spends.

Reduction of benefits, though an option for private insurers, also increases parity with the government offering and thereby competition.

With 1.4 million Medicare members as at December 31, 2008, Humana (HUM) has borne the full brunt of the news with a share price decline of almost 20%. Aetna (AET) reported 366,000 Medicare Advantage members as at December 31,2008 and suffered an 11% decline is share price. Notwithstanding the fact that the budget has yet to approved by Congress it does provide a picture of the road ahead.

We currently rate Humana a Buy and Aetna a Hold at current levels.

As fourth-quarter earnings season winds down, traders will be even more focused on the news coming out of Washington.

Congress will debate the president's budget proposal, which includes allocations for absorbing bank losses. There will also be ongoing discussion about the stress tests for banks. Not to mention speculation about whether the government will take a large ownership position in other financial companies, as it is doing with Citigroup (C). Finally, aid for auto parts suppliers and healthcare reform are on the agenda.

Economic data will also grab the attention of traders. The week's schedule includes the ISM manufacturing survey (Monday), the Beige Book (Wednesday at 2pm) and February employment data (Friday).

• Monday: February ISM manufacturing survey, January personal income and spending, January construction spending
• Tuesday: January pending home sales, February auto sales,
• Wednesday: February ISM non-manufacturing survey, ADP employment, Federal Reserve Beige Book, weekly crude inventories
• Thursday: Fourth-quarter productivity (revised), January factory orders, weekly crude inventories
• Friday: February unemployment and nonfarm payrolls, January consumer credit

Fed Chairman Ben Bernanke will testify before the Senate budget committee on Tuesday morning. He will speak about the impact of the economy on the federal budget. The fed chairman will speak again on Saturday, Mar 7, at a dedication ceremony in South Carolina.

Vice Chairman Donald Kohn will appear before the Senate's Committee on Banking, Housing, and Urban Affairs on Thursday. He will speak about American International Group (AIG) on Thursday.

As for earnings, we have confirmed reports from 204 companies. Included in this group are 8 S&P 500 members: American Capital Ltd. (ACAS), Autozone, Inc. (AZO), Ciena Corporation (CIEN), Costco Wholesale Corporation (COST), Edison International (EIX), H&R Block, Inc. (HRB), MBIA Inc. (MBI) and Pepco Holdings, Inc. (POM).

Stocks remain oversold, suggesting that a bounce should occur soon. However, both indexes and stocks can stay oversold (or overbought) for an extended period of time.

Companies That Could Issue Positive Earnings Surprises

During the past few weeks, 3 of the 18 covering brokerage analysts raised their fiscal second-quarter profit projections on Autozone, Inc. (AZO). The revisions pushed the consensus earnings estimate back up to $1.84 per share. The most accurate estimate is far more bullish, at $1.93 per share. AZO has beat expectations twice during the past 4 quarters, but also missed once. AutoZone is scheduled to report Tuesday, Mar 3, before the start of trading.

Fuel Systems Solutions, Inc. (FSYS) has topped expectations for 4 consecutive quarters. Ahead of the company's fourth-quarter report, 1 brokerage analyst raised his profit forecast, which helped the consensus earnings estimate rise back to 41 cents per share. The most accurate estimate is slightly more bullish at 50 cents per share. This is a volatile stock with the potential to respond to good earnings. Fuel Systems Solutions is scheduled to report on Thursday, Mar 5, after the close of trading.

Companies That Could Issue Negative Earnings Surprises

Earlier this month, Costco Wholesale Corporation (COST) warned that fiscal second-quarter earnings would be "substantially below" the consensus earnings estimate. The company blamed the economy, price-based promotions and lower gasoline profits for the warning. Nearly all of the covering analysts cut their projections in response, sending the average profit forecast 11 cents lower to 60 cents per share. Costco has historically met or topped expectations, so a miss may not occur. However, forecasts for the remainder of fiscal 2009 have been cut and it is probable that guidance for the second-half of the year will be disappointing. Costco is scheduled to report on Wednesday, Mar 4, before the start of trading.

Tech Data Corporation (TECD) has missed profit expectations for 2 consecutive quarters. Though earnings estimates are unchanged ahead of the company's fiscal fourth-quarter report, forecasts for fiscal 2010 are dropping. This suggests a strong possibility of disappointing guidance. Tech Data is scheduled to report on Tuesday, Mar 3, before the start of trading.

Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.

Earnings Calendar

Here is a list of companies that we have confirmed will report during the week of Mar 2 - 6¹. Prices are as of Thursday's, Feb 27, market close.

Company	Ticker	Zacks Consensus Estimate	Year Ago Actual	Last Qtr Surprise	Report Date	Report Time	Price
ABM Industries	ABM	$0.20	$0.16	(2.7%)	3/2/2009	AMC	$16.50
Allied Cap New	ALD	$0.22	$0.37	(23.5%)	3/2/2009	BTO	$1.91
Alphatec Hldgs	ATEC	($0.06)	($0.05)	(66.7%)	3/2/2009	N/A	$2.41
Amer Cap Ltd	ACAS	$0.65	$0.89	5.7%	3/2/2009	BTO	$4.12
Ares Cap Cp	ARCC	$0.33	$0.37	(5.6%)	3/2/2009	BTO	$5.82
Atlas Pipln Hld	AHD	$0.03	($0.51)	163.0%	3/2/2009	BTO	$3.05
Atlas Pipln Ptr	APL	$0.35	$0.68	(8.8%)	3/2/2009	BTO	$7.45
Breitburn Egy	BBEP	$0.34	$0.31	(23.7%)	3/2/2009	AMC	$9.30
Brookdale Senr	BKD	($0.32)	($0.30)	(100.0%)	3/2/2009	BTO	$7.00
Carrols Restrnt	TAST	$0.21	$0.16	6.3%	3/2/2009	AMC	$3.15
Cellcom Israel	CEL	$0.59	$0.49	0.0%	3/2/2009	BTO	$21.82
Central Eur Dis	CEDC	$1.17	$0.74	(12.5%)	3/2/2009	N/A	$14.27
China Med Tech	CMED	$0.16	$0.48	15.1%	3/2/2009	BTO	$16.15
Clear Chanl Out	CCO	$0.10	$0.29	(53.9%)	3/2/2009	BTO	$5.67
Conseco Inc	CNO	$0.30	$0.11	18.5%	3/2/2009	BTO	$2.85
Crosstex Egy Lp	XTEX	($0.27)	$0.19	(47.1%)	3/2/2009	BTO	$5.01
Crosstex Energy	XTXI	($0.02)	$0.17	(75.0%)	3/2/2009	BTO	$4.00
Dish Network Cp	DISH	$0.49	$0.39	(37.9%)	3/2/2009	BTO	$13.22
Eagle Bulk Shpg	EGLE	$0.37	$0.35	11.4%	3/2/2009	AMC	$6.30
Echostar Corp	SATS	($0.17)	N/A	134.4%	3/2/2009	N/A	$14.80
Edison Intl	EIX	$0.66	$0.65	(4.0%)	3/2/2009	BTO	$33.74
Einstein Noah	BAGL	$0.37	$0.47	35.7%	3/2/2009	AMC	$7.56
First Indl Rlty	FR	($0.17)	$1.22	8.2%	3/2/2009	AMC	$6.50
Franklin Elec	FELE	$0.38	$0.28	8.8%	3/2/2009	AMC	$28.08
Fti Consulting	FCN	$0.55	$0.60	(15.0%)	3/2/2009	BTO	$42.21
Horsehead Hldg	ZINC	$0.20	$0.55	42.9%	3/2/2009	BTO	$4.60
Hospitality Prp	HPT	$0.96	$1.15	0.9%	3/2/2009	AMC	$15.11
Immersion Corp	IMMR	($0.12)	$0.02	(25.0%)	3/2/2009	AMC	$5.08
Ipc The Hospitl	IPCM	$0.24	$0.24	11.1%	3/2/2009	AMC	$18.99
Ipcs Inc	IPCS	($0.26)	($0.24)	(285.7%)	3/2/2009	AMC	$5.36
Kkr Finl Hldgs	KFN	$0.35	$0.55	(19.5%)	3/2/2009	BTO	$1.40
Leapfrog Entrps	LF	($0.11)	($0.51)	5.6%	3/2/2009	AMC	$2.23
Live Nation	LYV	($0.26)	($0.25)	32.8%	3/2/2009	AMC	$6.43
Maguire Pptys	MPG	$0.06	$0.14	0.0%	3/2/2009	AMC	$2.75
Markwest Egy Pt	MWE	$0.04	$0.94	(33.8%)	3/2/2009	AMC	$13.27
Mastec Inc	MTZ	$0.25	$0.15	12.5%	3/2/2009	AMC	$11.18
Mcdermott Intl	MDR	$0.23	$0.70	(47.9%)	3/2/2009	AMC	$11.50
Nelnet Inc Cl-A	NNI	$0.19	$0.34	38.2%	3/2/2009	BTO	$14.44
Osg America Lp	OSP	$0.24	N/A	72.2%	3/2/2009	BTO	$7.84
Overseas Shipho	OSG	$1.58	$0.67	33.0%	3/2/2009	BTO	$38.49
Pdl Biopharma	PDLI	$0.06	($0.01)	(66.7%)	3/2/2009	AMC	$6.54
Pepco Hldgs	POM	$0.31	$0.29	(16.9%)	3/2/2009	AMC	$18.15
Perfect World	PWRD	$0.32	$0.34	8.9%	3/2/2009	BTO	$14.92
Phh Corp	PHH	($4.54)	$0.21	(1081.8%)	3/2/2009	N/A	$11.16
Reliant Egy Inc	RRI	($0.25)	$0.09	60.0%	3/2/2009	N/A	$5.55
Rosetta Resrcs	ROSE	$0.18	$0.34	(15.9%)	3/2/2009	N/A	$6.46
Sun Hlthcr Grp	SUNH	$0.25	$0.20	5.0%	3/2/2009	AMC	$11.41
Supergen Inc	SUPG	($0.14)	$0.09	92.3%	3/2/2009	AMC	$2.25
Sykes Entrp Inc	SYKE	$0.31	$0.26	67.9%	3/2/2009	AMC	$18.00
T-3 Energy Svcs	TTES	$0.79	$0.67	12.1%	3/2/2009	BTO	$14.36
Tivo Inc	TIVO	($0.10)	($0.06)	83.3%	3/2/2009	AMC	$7.57
Tns Inc	TNS	$0.25	$0.18	27.3%	3/2/2009	AMC	$8.71
Tower Group Inc	TWGP	$0.81	$0.78	5.3%	3/2/2009	BTO	$26.14
Travelcenters	TA	($0.28)	($4.16)	1900.0%	3/2/2009	AMC	$2.40
Visionchina Mda	VISN	$0.22	$0.10	8.7%	3/2/2009	AMC	$6.80
Warren Rsrcs	WRES	($0.02)	$0.07	0.0%	3/2/2009	BTO	$2.00
Wendys/Arbys Gp	WEN	$0.05	$0.09	(380.0%)	3/2/2009	BTO	$5.33
51Jobs Inc-Adr	JOBS	$0.06	$0.10	66.7%	3/3/2009	AMC	$6.55
Adc Telecomm	ADCT	($0.13)	$0.20	41.7%	3/3/2009	AMC	$5.30
America Svc Grp	ASGR	$0.14	($0.13)	(54.6%)	3/3/2009	AMC	$10.74
Americas Car-Mt	CRMT	$0.34	$0.28	2.9%	3/3/2009	BTO	$10.34
Arena Resources	ARD	$0.30	$0.26	11.3%	3/3/2009	N/A	$26.73
Autozone Inc	AZO	$1.84	$1.67	1.8%	3/3/2009	BTO	$137.27
Bioscrip Inc	BIOS	$0.05	$0.06	20.0%	3/3/2009	BTO	$1.83
Blount Intl	BLT	$0.19	$0.19	55.0%	3/3/2009	BTO	$9.12
Chicos Fas Fnc	CHS	($0.17)	($0.12)	133.3%	3/3/2009	BTO	$4.33
Delta Pete Corp	DPTR	($0.17)	($0.21)	(1900.0%)	3/3/2009	BTO	$4.83
Energy Recovery	ERII	$0.08	N/A	0.0%	3/3/2009	AMC	$6.87
Ferro Corp	FOE	($0.15)	$0.06	15.6%	3/3/2009	N/A	$5.28
Finl Fed Corp	FIF	$0.45	$0.51	6.8%	3/3/2009	AMC	$22.90
Greatbatch Inc	GB	$0.38	$0.21	34.4%	3/3/2009	AMC	$24.08
Home Diagnostic	HDIX	$0.07	$0.11	26.3%	3/3/2009	BTO	$7.17
Inspire Pharma	ISPH	($0.23)	($0.51)	15.0%	3/3/2009	BTO	$4.05
Jackson Hewitt	JTX	$0.74	$0.61	5.3%	3/3/2009	BTO	$13.87
John Bean Tech	JBT	$0.22	N/A	N/A	3/3/2009	AMC	$9.99
Lemaitre Vasclr	LMAT	$0.00	($0.05)	50.0%	3/3/2009	AMC	$2.15
Masimo Corp	MASI	$0.18	$0.18	37.5%	3/3/2009	AMC	$28.69
Mbia Inc	MBI	($1.03)	($3.30)	(665.5%)	3/3/2009	N/A	$4.49
Monotype Imagng	TYPE	$0.09	$0.11	9.1%	3/3/2009	BTO	$6.22
Move Inc	MOVE	($0.02)	$0.01	0.0%	3/3/2009	AMC	$1.72
Netezza Corp	NZ	$0.05	$0.05	25.0%	3/3/2009	AMC	$6.22
Nmt Medical Inc	NMTI	($0.33)	($0.23)	5.7%	3/3/2009	BTO	$1.05
Plato Learning	TUTR	($0.13)	($0.16)	22.2%	3/3/2009	N/A	$1.36
Resource Capitl	RSO	$0.41	$0.43	N/A	3/3/2009	AMC	$3.38
Sciclone Pharma	SCLN	($0.01)	($0.08)	200.0%	3/3/2009	BTO	$0.83
Seaspan Corp	SSW	$0.29	$0.31	0.0%	3/3/2009	BTO	$13.00
Sonic Automotve	SAH	$0.06	$0.68	(26.5%)	3/3/2009	BTO	$2.23
Tech Data Corp	TECD	$0.73	$0.96	(42.2%)	3/3/2009	BTO	$19.89
Thomas Group	TGIS	($0.17)	$0.13	(66.7%)	3/3/2009	N/A	$0.58
Town Sports Int	CLUB	$0.06	$0.23	(5.6%)	3/3/2009	AMC	$2.27
Trina Solar Ltd	TSL	($0.04)	$0.61	(0.9%)	3/3/2009	BTO	$8.00
Verifone Hldgs	PAY	$0.11	($0.40)	(13.6%)	3/3/2009	AMC	$5.31
Virgin Mobile	VM	($0.09)	($0.30)	100.0%	3/3/2009	AMC	$0.80
Wonder Auto Tec	WATG	$0.12	$0.17	4.3%	3/3/2009	BTO	$2.38
Allion Healthcr	ALLI	$0.12	$0.06	20.0%	3/4/2009	AMC	$4.66
Almost Family	AFAM	$0.55	$0.37	26.7%	3/4/2009	BTO	$32.98
Altra Holdings	AIMC	$0.22	$0.22	6.1%	3/4/2009	AMC	$7.43
Amer Comml Line	ACLI	$0.36	$0.45	5.9%	3/4/2009	AMC	$4.91
Amer Railcar	ARII	$0.28	$0.37	(11.8%)	3/4/2009	AMC	$9.05
Amer Safety Ins	ASI	$0.49	$0.61	0.0%	3/4/2009	N/A	$14.25
Ballard Pwr Sys	BLDP	($0.14)	($0.14)	(18.8%)	3/4/2009	N/A	N/A
Bj'S Wholesale	BJ	$0.86	$0.81	6.5%	3/4/2009	BTO	$30.56
Brown Shoe Co	BWS	($0.37)	$0.39	188.2%	3/4/2009	BTO	$5.53
Casella Waste	CWST	($0.08)	($0.18)	(11.1%)	3/4/2009	AMC	$3.31
Clarient Inc	CLRT	($0.03)	($0.05)	(50.0%)	3/4/2009	AMC	$1.37
Coldwater Creek	CWTR	($0.23)	($0.19)	87.5%	3/4/2009	AMC	$3.05
Costco Whole Cp	COST	$0.60	$0.74	4.8%	3/4/2009	BTO	$47.81
Cox Radio Inc	CXR	$0.18	$0.26	5.6%	3/4/2009	BTO	$5.37
Crm Holdngs Ltd	CRMH	$0.08	$0.30	(222.2%)	3/4/2009	N/A	$1.25
Cross Country	CCRN	$0.16	$0.23	0.0%	3/4/2009	AMC	$8.09
Dynamex Inc	DDMX	$0.22	$0.33	7.1%	3/4/2009	AMC	$11.20
Edgewater Tech	EDGW	$0.07	$0.09	200.0%	3/4/2009	BTO	$2.80
Exelixis Inc	EXEL	($0.35)	($0.30)	4.9%	3/4/2009	AMC	$5.30
Flamel Tech	FLML	($0.02)	($0.23)	41.2%	3/4/2009	AMC	$4.18
Foot Locker Inc	FL	$0.16	$0.23	(28.0%)	3/4/2009	AMC	$8.08
Fpic Insurance	FPIC	$1.16	$1.62	8.1%	3/4/2009	AMC	$40.01
Genesis Lease	GLS	$0.23	$0.35	3.6%	3/4/2009	BTO	$3.79
Giant Interactv	GA	$0.11	$0.18	(52.9%)	3/4/2009	AMC	$6.18
Global Ship Ls	GSL	$0.16	N/A	N/A	3/4/2009	BTO	$3.51
H&E Equip Svcs	HEES	$0.35	$0.45	13.6%	3/4/2009	BTO	$7.13
Joy Global Inc	JOYG	$0.75	$0.64	13.9%	3/4/2009	BTO	$23.09
Kadant Inc	KAI	$0.14	$0.53	38.2%	3/4/2009	AMC	$10.96
Legacy Reserves	LGCY	$0.16	$0.36	(59.6%)	3/4/2009	AMC	$13.94
Ltx-Credence Cp	LTXC	($0.21)	($0.05)	0.0%	3/4/2009	N/A	$0.33
Maidenform Brnd	MFB	$0.11	$0.27	2.9%	3/4/2009	BTO	$9.91
Martek Bioscs	MATK	$0.29	$0.26	0.0%	3/4/2009	AMC	$27.91
Mindray Medical	MR	$0.29	$0.19	0.0%	3/4/2009	AMC	$20.70
Natural Gas Svc	NGS	$0.29	$0.30	37.9%	3/4/2009	BTO	$10.67
Northgate Mnrls	NXG	$0.06	$0.00	(650.0%)	3/4/2009	BTO	$1.13
Penwest Pharm	PPCO	($0.12)	($0.40)	(4.6%)	3/4/2009	N/A	$1.81
Petsmart Inc	PETM	$0.59	$0.60	7.7%	3/4/2009	AMC	$19.68
Power Med Inter	PMII	($0.42)	($1.21)	8.5%	3/4/2009	AMC	$0.25
Rehabcare Group	RHB	$0.26	$0.29	14.3%	3/4/2009	BTO	$14.53
S1 Corporation	SONE	$0.11	$0.11	10.0%	3/4/2009	AMC	$6.75
Semtech Corp	SMTC	$0.10	$0.17	17.6%	3/4/2009	AMC	$12.73
Toll Brothers	TOL	($0.43)	($0.61)	(4.3%)	3/4/2009	BTO	$19.30
Urs Corp	URS	$0.58	$0.56	23.4%	3/4/2009	N/A	$37.58
Us Concrete Inc	RMIX	($0.07)	$0.02	(20.0%)	3/4/2009	BTO	$3.18
Weight Watchers	WTW	$0.52	$0.50	0.0%	3/4/2009	AMC	$24.15
Yamana Gold Inc	AUY	$0.06	$0.06	-58.33%	3/4/2009	AMC	7.65
3D Systems Corp	TDSC	$0.01	$0.06	20.0%	3/5/2009	N/A	$7.46
Alaska Comm Sys	ALSK	$0.02	$0.21	0.0%	3/5/2009	AMC	$8.47
Alon Usa Energy	ALJ	$0.51	($0.89)	766.7%	3/5/2009	AMC	$12.00
Ambev-Pr Adr	ABV	$0.94	$1.03	(1.4%)	3/5/2009	BTO	$41.10
Amer Software A	AMSWA	$0.03	$0.07	(50.0%)	3/5/2009	N/A	$4.19
Analogic Corp	ALOG	$0.14	$0.54	(80.8%)	3/5/2009	BTO	$26.78
Angiotech Pharm	ANPI	($0.04)	($0.09)	37.5%	3/5/2009	BTO	$0.36
Arcsight Inc	ARST	$0.04	$0.09	0.0%	3/5/2009	AMC	$9.88
Arqule Inc	ARQL	($0.27)	($0.33)	38.1%	3/5/2009	BTO	$4.16
B&G Foods Cl-A	BGS	$0.14	$0.15	61.5%	3/5/2009	N/A	$4.77
Babcock&Brn Air	FLY	$0.36	$0.13	2.9%	3/5/2009	BTO	$6.10
Cdn Ntrl Rsrcs	CNQ	$0.61	$1.04	40.2%	3/5/2009	BTO	$37.73
Cedar Shopn Ctr	CDR	$0.32	$0.34	(3.1%)	3/5/2009	AMC	$6.89
Ciena Corp	CIEN	($0.12)	$0.39	(350.0%)	3/5/2009	BTO	$7.50
Clean Egy Fuels	CLNE	($0.37)	($0.07)	4.0%	3/5/2009	AMC	$7.05
Clearwire Corp	CLWR	($0.83)	($2.44)	(1.0%)	3/5/2009	AMC	$4.04
Cooper Cos	COO	$0.39	$0.45	12.1%	3/5/2009	N/A	$19.60
Delek Us Hldgs	DK	($0.04)	($0.23)	23.7%	3/5/2009	BTO	$7.43
Depomed Inc	DEPO	($0.26)	$0.44	20.0%	3/5/2009	AMC	$2.11
Dialysis Corp	DCAI	$0.09	$0.10	12.5%	3/5/2009	AMC	$6.00
Emergent Biosul	EBS	$0.06	$0.93	100.0%	3/5/2009	AMC	$21.19
Eurand Nv-Ord	EURX	($0.01)	($0.17)	40.0%	3/5/2009	N/A	$12.17
Fuel System Sol	FSYS	$0.41	$0.31	217.4%	3/5/2009	AMC	$27.01
Fuel Tech Inc	FTEK	$0.00	$0.21	(10.0%)	3/5/2009	BTO	$9.47
Gasco Egy Inc	GSX	$0.00	($0.03)	200.0%	3/5/2009	N/A	$0.44
Genesco Inc	GCO	$1.09	$1.00	0.0%	3/5/2009	BTO	$16.25
Hiland Holdings	HPGP	($0.16)	$0.07	26.8%	3/5/2009	AMC	$2.82
Hiland Ptnrs Lp	HLND	($0.25)	$0.14	(36.3%)	3/5/2009	AMC	$8.80
Home Inns&Hotel	http://www.zacks.com/commentary/10167/Market+Conditions+Remain+Tough+-+Earnings+Preview Autozone, Inc. (AZO) and Fuel Systems Solutions, Inc. (FSYS) could top expectations. Costco Wholesale Corporation (COST) and Tech Data Corporation (TECD) could provide disappointing guidance. As fourth-quarter earnings season winds down, traders will be even more focused on the news coming out of Washington. Congress will debate the president's budget proposal, which includes allocations for absorbing bank losses. There will also be ongoing discussion about the stress tests for banks. Not to mention speculation about whether the government will take a large ownership position in other financial companies, as it is doing with Citigroup (C). Finally, aid for auto parts suppliers and healthcare reform are on the agenda. Economic data will also grab the attention of traders. The week's schedule includes the ISM manufacturing survey (Monday), the Beige Book (Wednesday at 2pm) and February employment data (Friday). Monday: February ISM manufacturing survey, January personal income and spending, January construction spending Tuesday: January pending home sales, February auto sales, Wednesday: February ISM non-manufacturing survey, ADP employment, Federal Reserve Beige Book, weekly crude inventories Thursday: Fourth-quarter productivity (revised), January factory orders, weekly crude inventories Friday: February unemployment and nonfarm payrolls, January consumer credit Fed Chairman Ben Bernanke will testify before the Senate budget committee on Tuesday morning. He will speak about the impact of the economy on the federal budget. The fed chairman will speak again on Saturday, Mar 7, at a dedication ceremony in South Carolina. Vice Chairman Donald Kohn will appear before the Senate's Committee on Banking, Housing, and Urban Affairs on Thursday. He will speak about American International Group (AIG) on Thursday. As for earnings, we have confirmed reports from 204 companies. Included in this group are 8 S&P 500 members: American Capital Ltd. (ACAS), Autozone, Inc. (AZO), Ciena Corporation (CIEN), Costco Wholesale Corporation (COST), Edison International (EIX), H&R Block, Inc. (HRB), MBIA Inc. (MBI) and Pepco Holdings, Inc. (POM). Stocks remain oversold, suggesting that a bounce should occur soon. However, both indexes and stocks can stay oversold (or overbought) for an extended period of time. Companies That Could Issue Positive Earnings Surprises During the past few weeks, 3 of the 18 covering brokerage analysts raised their fiscal second-quarter profit projections on Autozone, Inc. (AZO). The revisions pushed the consensus earnings estimate back up to $1.84 per share. The most accurate estimate is far more bullish, at $1.93 per share. AZO has beat expectations twice during the past 4 quarters, but also missed once. AutoZone is scheduled to report Tuesday, Mar 3, before the start of trading. Fuel Systems Solutions, Inc. (FSYS) has topped expectations for 4 consecutive quarters. Ahead of the company's fourth-quarter report, 1 brokerage analyst raised his profit forecast, which helped the consensus earnings estimate rise back to 41 cents per share. The most accurate estimate is slightly more bullish at 50 cents per share. This is a volatile stock with the potential to respond to good earnings. Fuel Systems Solutions is scheduled to report on Thursday, Mar 5, after the close of trading. Companies That Could Issue Negative Earnings Surprises Earlier this month, Costco Wholesale Corporation (COST) warned that fiscal second-quarter earnings would be "substantially below" the consensus earnings estimate. The company blamed the economy, price-based promotions and lower gasoline profits for the warning. Nearly all of the covering analysts cut their projections in response, sending the average profit forecast 11 cents lower to 60 cents per share. Costco has historically met or topped expectations, so a miss may not occur. However, forecasts for the remainder of fiscal 2009 have been cut and it is probable that guidance for the second-half of the year will be disappointing. Costco is scheduled to report on Wednesday, Mar 4, before the start of trading. Tech Data Corporation (TECD) has missed profit expectations for 2 consecutive quarters. Though earnings estimates are unchanged ahead of the company's fiscal fourth-quarter report, forecasts for fiscal 2010 are dropping. This suggests a strong possibility of disappointing guidance. Tech Data is scheduled to report on Tuesday, Mar 3, before the start of trading. Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com. Surprise Trader can help you turn earnings surprises into quick profits. Learn how. Earnings Calendar Here is a list of companies that we have confirmed will report during the week of Mar 2 - 61. Prices are as of Thursday's, Feb 27, market close. Company Ticker Zacks Consensus Estimate Year Ago Actual Last Qtr Surprise Report Date Report Time Price ABM Industries ABM $0.20 $0.16 (2.7%) 3/2/2009 AMC $16.50 Allied Cap New ALD $0.22 $0.37 (23.5%) 3/2/2009 BTO $1.91 Alphatec Hldgs ATEC ($0.06) ($0.05) (66.7%) 3/2/2009 N/A $2.41 Amer Cap Ltd ACAS $0.65 $0.89 5.7% 3/2/2009 BTO $4.12 Ares Cap Cp ARCC $0.33 $0.37 (5.6%) 3/2/2009 BTO $5.82 Atlas Pipln Hld AHD $0.03 ($0.51) 163.0% 3/2/2009 BTO $3.05 Atlas Pipln Ptr APL $0.35 $0.68 (8.8%) 3/2/2009 BTO $7.45 Breitburn Egy BBEP $0.34 $0.31 (23.7%) 3/2/2009 AMC $9.30 Brookdale Senr BKD ($0.32) ($0.30) (100.0%) 3/2/2009 BTO $7.00 Carrols Restrnt TAST $0.21 $0.16 6.3% 3/2/2009 AMC $3.15 Cellcom Israel CEL $0.59 $0.49 0.0% 3/2/2009 BTO $21.82 Central Eur Dis CEDC $1.17 $0.74 (12.5%) 3/2/2009 N/A $14.27 China Med Tech CMED $0.16 $0.48 15.1% 3/2/2009 BTO $16.15 Clear Chanl Out CCO $0.10 $0.29 (53.9%) 3/2/2009 BTO $5.67 Conseco Inc CNO $0.30 $0.11 18.5% 3/2/2009 BTO $2.85 Crosstex Egy Lp XTEX ($0.27) $0.19 (47.1%) 3/2/2009 BTO $5.01 Crosstex Energy XTXI ($0.02) $0.17 (75.0%) 3/2/2009 BTO $4.00 Dish Network Cp DISH $0.49 $0.39 (37.9%) 3/2/2009 BTO $13.22 Eagle Bulk Shpg EGLE $0.37 $0.35 11.4% 3/2/2009 AMC $6.30 Echostar Corp SATS ($0.17) N/A 134.4% 3/2/2009 N/A $14.80 Edison Intl EIX $0.66 $0.65 (4.0%) 3/2/2009 BTO $33.74 Einstein Noah BAGL $0.37 $0.47 35.7% 3/2/2009 AMC $7.56 First Indl Rlty FR ($0.17) $1.22 8.2% 3/2/2009 AMC $6.50 Franklin Elec FELE $0.38 $0.28 8.8% 3/2/2009 AMC $28.08 Fti Consulting FCN $0.55 $0.60 (15.0%) 3/2/2009 BTO $42.21 Horsehead Hldg ZINC $0.20 $0.55 42.9% 3/2/2009 BTO $4.60 Hospitality Prp HPT $0.96 $1.15 0.9% 3/2/2009 AMC $15.11 Immersion Corp IMMR ($0.12) $0.02 (25.0%) 3/2/2009 AMC $5.08 Ipc The Hospitl IPCM $0.24 $0.24 11.1% 3/2/2009 AMC $18.99 Ipcs Inc IPCS ($0.26) ($0.24) (285.7%) 3/2/2009 AMC $5.36 Kkr Finl Hldgs KFN $0.35 $0.55 (19.5%) 3/2/2009 BTO $1.40 Leapfrog Entrps LF ($0.11) ($0.51) 5.6% 3/2/2009 AMC $2.23 Live Nation LYV ($0.26) ($0.25) 32.8% 3/2/2009 AMC $6.43 Maguire Pptys MPG $0.06 $0.14 0.0% 3/2/2009 AMC $2.75 Markwest Egy Pt MWE $0.04 $0.94 (33.8%) 3/2/2009 AMC $13.27 Mastec Inc MTZ $0.25 $0.15 12.5% 3/2/2009 AMC $11.18 Mcdermott Intl MDR $0.23 $0.70 (47.9%) 3/2/2009 AMC $11.50 Nelnet Inc Cl-A NNI $0.19 $0.34 38.2% 3/2/2009 BTO $14.44 Osg America Lp OSP $0.24 N/A 72.2% 3/2/2009 BTO $7.84 Overseas Shipho OSG $1.58 $0.67 33.0% 3/2/2009 BTO $38.49 Pdl Biopharma PDLI $0.06 ($0.01) (66.7%) 3/2/2009 AMC $6.54 Pepco Hldgs POM $0.31 $0.29 (16.9%) 3/2/2009 AMC $18.15 Perfect World PWRD $0.32 $0.34 8.9% 3/2/2009 BTO $14.92 Phh Corp PHH ($4.54) $0.21 (1081.8%) 3/2/2009 N/A $11.16 Reliant Egy Inc RRI ($0.25) $0.09 60.0% 3/2/2009 N/A $5.55 Rosetta Resrcs ROSE $0.18 $0.34 (15.9%) 3/2/2009 N/A $6.46 Sun Hlthcr Grp SUNH $0.25 $0.20 5.0% 3/2/2009 AMC $11.41 Supergen Inc SUPG ($0.14) $0.09 92.3% 3/2/2009 AMC $2.25 Sykes Entrp Inc SYKE $0.31 $0.26 67.9% 3/2/2009 AMC $18.00 T-3 Energy Svcs TTES $0.79 $0.67 12.1% 3/2/2009 BTO $14.36 Tivo Inc TIVO ($0.10) ($0.06) 83.3% 3/2/2009 AMC $7.57 Tns Inc TNS $0.25 $0.18 27.3% 3/2/2009 AMC $8.71 Tower Group Inc TWGP $0.81 $0.78 5.3% 3/2/2009 BTO $26.14 Travelcenters TA ($0.28) ($4.16) 1900.0% 3/2/2009 AMC $2.40 Visionchina Mda VISN $0.22 $0.10 8.7% 3/2/2009 AMC $6.80 Warren Rsrcs WRES ($0.02) $0.07 0.0% 3/2/2009 BTO $2.00 Wendys/Arbys Gp WEN $0.05 $0.09 (380.0%) 3/2/2009 BTO $5.33 51Jobs Inc-Adr JOBS $0.06 $0.10 66.7% 3/3/2009 AMC $6.55 Adc Telecomm ADCT ($0.13) $0.20 41.7% 3/3/2009 AMC $5.30 America Svc Grp ASGR $0.14 ($0.13) (54.6%) 3/3/2009 AMC $10.74 Americas Car-Mt CRMT $0.34 $0.28 2.9% 3/3/2009 BTO $10.34 Arena Resources ARD $0.30 $0.26 11.3% 3/3/2009 N/A $26.73 Autozone Inc AZO $1.84 $1.67 1.8% 3/3/2009 BTO $137.27 Bioscrip Inc BIOS $0.05 $0.06 20.0% 3/3/2009 BTO $1.83 Blount Intl BLT $0.19 $0.19 55.0% 3/3/2009 BTO $9.12 Chicos Fas Fnc CHS ($0.17) ($0.12) 133.3% 3/3/2009 BTO $4.33 Delta Pete Corp DPTR ($0.17) ($0.21) (1900.0%) 3/3/2009 BTO $4.83 Energy Recovery ERII $0.08 N/A 0.0% 3/3/2009 AMC $6.87 Ferro Corp FOE ($0.15) $0.06 15.6% 3/3/2009 N/A $5.28 Finl Fed Corp FIF $0.45 $0.51 6.8% 3/3/2009 AMC $22.90 Greatbatch Inc GB $0.38 $0.21 34.4% 3/3/2009 AMC $24.08 Home Diagnostic HDIX $0.07 $0.11 26.3% 3/3/2009 BTO $7.17 Inspire Pharma ISPH ($0.23) ($0.51) 15.0% 3/3/2009 BTO $4.05 Jackson Hewitt JTX $0.74 $0.61 5.3% 3/3/2009 BTO $13.87 John Bean Tech JBT $0.22 N/A N/A 3/3/2009 AMC $9.99 Lemaitre Vasclr LMAT $0.00 ($0.05) 50.0% 3/3/2009 AMC $2.15 Masimo Corp MASI $0.18 $0.18 37.5% 3/3/2009 AMC $28.69 Mbia Inc MBI ($1.03) ($3.30) (665.5%) 3/3/2009 N/A $4.49 Monotype Imagng TYPE $0.09 $0.11 9.1% 3/3/2009 BTO $6.22 Move Inc MOVE ($0.02) $0.01 0.0% 3/3/2009 AMC $1.72 Netezza Corp NZ $0.05 $0.05 25.0% 3/3/2009 AMC $6.22 Nmt Medical Inc NMTI ($0.33) ($0.23) 5.7% 3/3/2009 BTO $1.05 Plato Learning TUTR ($0.13) ($0.16) 22.2% 3/3/2009 N/A $1.36 Resource Capitl RSO $0.41 $0.43 N/A 3/3/2009 AMC $3.38 Sciclone Pharma SCLN ($0.01) ($0.08) 200.0% 3/3/2009 BTO $0.83 Seaspan Corp SSW $0.29 $0.31 0.0% 3/3/2009 BTO $13.00 Sonic Automotve SAH $0.06 $0.68 (26.5%) 3/3/2009 BTO $2.23 Tech Data Corp TECD $0.73 $0.96 (42.2%) 3/3/2009 BTO $19.89 Thomas Group TGIS ($0.17) $0.13 (66.7%) 3/3/2009 N/A $0.58 Town Sports Int CLUB $0.06 $0.23 (5.6%) 3/3/2009 AMC $2.27 Trina Solar Ltd TSL ($0.04) $0.61 (0.9%) 3/3/2009 BTO $8.00 Verifone Hldgs PAY $0.11 ($0.40) (13.6%) 3/3/2009 AMC $5.31 Virgin Mobile VM ($0.09) ($0.30) 100.0% 3/3/2009 AMC $0.80 Wonder Auto Tec WATG $0.12 $0.17 4.3% 3/3/2009 BTO $2.38 Allion Healthcr ALLI $0.12 $0.06 20.0% 3/4/2009 AMC $4.66 Almost Family AFAM $0.55 $0.37 26.7% 3/4/2009 BTO $32.98 Altra Holdings AIMC $0.22 $0.22 6.1% 3/4/2009 AMC $7.43 Amer Comml Line ACLI $0.36 $0.45 5.9% 3/4/2009 AMC $4.91 Amer Railcar ARII $0.28 $0.37 (11.8%) 3/4/2009 AMC $9.05 Amer Safety Ins ASI $0.49 $0.61 0.0% 3/4/2009 N/A $14.25 Ballard Pwr Sys BLDP ($0.14) ($0.14) (18.8%) 3/4/2009 N/A N/A Bj'S Wholesale BJ $0.86 $0.81 6.5% 3/4/2009 BTO $30.56 Brown Shoe Co BWS ($0.37) $0.39 188.2% 3/4/2009 BTO $5.53 Casella Waste CWST ($0.08) ($0.18) (11.1%) 3/4/2009 AMC $3.31 Clarient Inc CLRT ($0.03) ($0.05) (50.0%) 3/4/2009 AMC $1.37 Coldwater Creek CWTR ($0.23) ($0.19) 87.5% 3/4/2009 AMC $3.05 Costco Whole Cp COST $0.60 $0.74 4.8% 3/4/2009 BTO $47.81 Cox Radio Inc CXR $0.18 $0.26 5.6% 3/4/2009 BTO $5.37 Crm Holdngs Ltd CRMH $0.08 $0.30 (222.2%) 3/4/2009 N/A $1.25 Cross Country CCRN $0.16 $0.23 0.0% 3/4/2009 AMC $8.09 Dynamex Inc DDMX $0.22 $0.33 7.1% 3/4/2009 AMC $11.20 Edgewater Tech EDGW $0.07 $0.09 200.0% 3/4/2009 BTO $2.80 Exelixis Inc EXEL ($0.35) ($0.30) 4.9% 3/4/2009 AMC $5.30 Flamel Tech FLML ($0.02) ($0.23) 41.2% 3/4/2009 AMC $4.18 Foot Locker Inc FL $0.16 $0.23 (28.0%) 3/4/2009 AMC $8.08 Fpic Insurance FPIC $1.16 $1.62 8.1% 3/4/2009 AMC $40.01 Genesis Lease GLS $0.23 $0.35 3.6% 3/4/2009 BTO $3.79 Giant Interactv GA $0.11 $0.18 (52.9%) 3/4/2009 AMC $6.18 Global Ship Ls GSL $0.16 N/A N/A 3/4/2009 BTO $3.51 H&E Equip Svcs HEES $0.35 $0.45 13.6% 3/4/2009 BTO $7.13 Joy Global Inc JOYG $0.75 $0.64 13.9% 3/4/2009 BTO $23.09 Kadant Inc KAI $0.14 $0.53 38.2% 3/4/2009 AMC $10.96 Legacy Reserves LGCY $0.16 $0.36 (59.6%) 3/4/2009 AMC $13.94 Ltx-Credence Cp LTXC ($0.21) ($0.05) 0.0% 3/4/2009 N/A $0.33 Maidenform Brnd MFB $0.11 $0.27 2.9% 3/4/2009 BTO $9.91 Martek Bioscs MATK $0.29 $0.26 0.0% 3/4/2009 AMC $27.91 Mindray Medical MR $0.29 $0.19 0.0% 3/4/2009 AMC $20.70 Natural Gas Svc NGS $0.29 $0.30 37.9% 3/4/2009 BTO $10.67 Northgate Mnrls NXG $0.06 $0.00 (650.0%) 3/4/2009 BTO $1.13 Penwest Pharm PPCO ($0.12) ($0.40) (4.6%) 3/4/2009 N/A $1.81 Petsmart Inc PETM $0.59 $0.60 7.7% 3/4/2009 AMC $19.68 Power Med Inter PMII ($0.42) ($1.21) 8.5% 3/4/2009 AMC $0.25 Rehabcare Group RHB $0.26 $0.29 14.3% 3/4/2009 BTO $14.53 S1 Corporation SONE $0.11 $0.11 10.0% 3/4/2009 AMC $6.75 Semtech Corp SMTC $0.10 $0.17 17.6% 3/4/2009 AMC $12.73 Toll Brothers TOL ($0.43) ($0.61) (4.3%) 3/4/2009 BTO $19.30 Urs Corp URS $0.58 $0.56 23.4% 3/4/2009 N/A $37.58 Us Concrete Inc RMIX ($0.07) $0.02 (20.0%) 3/4/2009 BTO $3.18 Weight Watchers WTW $0.52 $0.50 0.0% 3/4/2009 AMC $24.15 Yamana Gold Inc AUY $0.06 $0.06 -58.33% 3/4/2009 AMC 7.65 3D Systems Corp TDSC $0.01 $0.06 20.0% 3/5/2009 N/A $7.46 Alaska Comm Sys ALSK $0.02 $0.21 0.0% 3/5/2009 AMC $8.47 Alon Usa Energy ALJ $0.51 ($0.89) 766.7% 3/5/2009 AMC $12.00 Ambev-Pr Adr ABV $0.94 $1.03 (1.4%) 3/5/2009 BTO $41.10 Amer Software A AMSWA $0.03 $0.07 (50.0%) 3/5/2009 N/A $4.19 Analogic Corp ALOG $0.14 $0.54 (80.8%) 3/5/2009 BTO $26.78 Angiotech Pharm ANPI ($0.04) ($0.09) 37.5% 3/5/2009 BTO $0.36 Arcsight Inc ARST $0.04 $0.09 0.0% 3/5/2009 AMC $9.88 Arqule Inc ARQL ($0.27) ($0.33) 38.1% 3/5/2009 BTO $4.16 B&G Foods Cl-A BGS $0.14 $0.15 61.5% 3/5/2009 N/A $4.77 Babcock&Brn Air FLY $0.36 $0.13 2.9% 3/5/2009 BTO $6.10 Cdn Ntrl Rsrcs CNQ $0.61 $1.04 40.2% 3/5/2009 BTO $37.73 Cedar Shopn Ctr CDR $0.32 $0.34 (3.1%) 3/5/2009 AMC $6.89 Ciena Corp CIEN ($0.12) $0.39 (350.0%) 3/5/2009 BTO $7.50 Clean Egy Fuels CLNE ($0.37) ($0.07) 4.0% 3/5/2009 AMC $7.05 Clearwire Corp CLWR ($0.83) ($2.44) (1.0%) 3/5/2009 AMC $4.04 Cooper Cos COO $0.39 $0.45 12.1% 3/5/2009 N/A $19.60 Delek Us Hldgs DK ($0.04) ($0.23) 23.7% 3/5/2009 BTO $7.43 Depomed Inc DEPO ($0.26) $0.44 20.0% 3/5/2009 AMC $2.11 Dialysis Corp DCAI $0.09 $0.10 12.5% 3/5/2009 AMC $6.00 Emergent Biosul EBS $0.06 $0.93 100.0% 3/5/2009 AMC $21.19 Eurand Nv-Ord EURX ($0.01) ($0.17) 40.0% 3/5/2009 N/A $12.17 Fuel System Sol FSYS $0.41 $0.31 217.4% 3/5/2009 AMC $27.01 Fuel Tech Inc FTEK $0.00 $0.21 (10.0%) 3/5/2009 BTO $9.47 Gasco Egy Inc GSX $0.00 ($0.03) 200.0% 3/5/2009 N/A $0.44 Genesco Inc GCO $1.09 $1.00 0.0% 3/5/2009 BTO $16.25 Hiland Holdings HPGP ($0.16) $0.07 26.8% 3/5/2009 AMC $2.82 Hiland Ptnrs Lp HLND ($0.25) $0.14 (36.3%) 3/5/2009 AMC $8.80 Home Inns&Hotel http://www.navivest.com/blog/?p=593 http://www.straightstocks.com/stock-watch/obama-seeks-634-bln-for-health-insurance/feed/ 0 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/srisurgical-express-inc-strcob-moves-forward-with-new-co-marketing-agreement-and-line-of-credit/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/srisurgical-express-inc-strcob-moves-forward-with-new-co-marketing-agreement-and-line-of-credit/#comments Wed, 17 Dec 2008 17:15:17 +0000 QualityStocks http://Blog.QualityStocks.net/?p=14110 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/srisurgical-express-inc-strcob-moves-forward-with-new-co-marketing-agreement-and-line-of-credit/feed/ 0 http://www.straightstocks.com/current-market-news/election-worries-have-put-hmo-stocks-like-united-on-sale/ http://www.straightstocks.com/current-market-news/election-worries-have-put-hmo-stocks-like-united-on-sale/#comments Fri, 16 May 2008 14:14:00 +0000 Chad Brand tag:blogger.com,1999:blog-9453798.post-9171958919870865030 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