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Zacks Bull and Bear of the Day Highlights: IBM Corporation, Marriott International, Citigroup, Bank of America and Goldman Sachs – Press Releases

Zacks Market Commentaries (July 20th, 2009) Writes:

For Immediate Release

Chicago, IL – July 20, 2009 – Zacks Equity Research highlights IBM Corporation (IBM) as the Bull of the Day and Marriott International (MAR ) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Citigroup (C), Bank of America (BAC) and Goldman Sachs (GS).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2676.

Here is a synopsis of all five stocks:

Bull of the Day:

As a result of its large non-US revenue base, IBM Corporation (IBM) has been better insulated from the recent weakness in the U.S. economy than many of its peers. IBM reported strong 2Q09 results ahead of our and Wall Street expectations.

Profitability in the quarter was fueled by higher gross profit margins as IBM shifted to high-margin software and services business. The company

...

IBM Corp. (IBM) – Bull of the Day

Zacks Market Commentaries (July 20th, 2009) Writes:
As a result of its large non-US revenue base, IBM Corporation (IBM) has been better insulated from the recent weakness in the U.S. economy than many of its peers. IBM reported strong 2Q09 results ahead of our and Wall Street expectations.

Profitability in the quarter was fueled by higher gross profit margins as IBM shifted to high-margin software and services business. The company also raised its EPS outlook for fiscal 2009 from $9.20 to $9.70. However, currency fluctuations are taking a toll on its revenue, which may be critical to earnings growth over the next two years.

Moreover, the company has focused on driving its bottom line through cost-cutting efforts. IBM is well positioned to benefit from the market recovery. We maintain our Buy rating on IBM shares and maintain our six-month price target of $120.00.Zacks Investment Research


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