• Tyson Foods (NYSE:TSN) reported better-than-expected earnings of 28 cents a share, beating Zacks estimates by 2 cents, on revenues of $7.2 billion, which exceeded Zacks estimates of $6.85 billion

• India’s Reliance Industries bid $12 billion in cash for Lyondell Bassell when it exits bankruptcy

• Microsoft (NASDAQ:MSFT) is reportedly in discussions with News Corp. (NASDAQ:NWSA) to "de-index" the firm's news websites from Google (NASDAQ:GOOG)

• Coca-Cola (NYSE:KO) announced plans to more than double the number of its bottling plants in China over the next ten years as part of its goal to triple sales to the country

• Hershey (NYSE:HSY) trust encouraged the firm to counter Kraft's (NYSE:KFT) hostile, $16.2 billion bid with its own, $17 billion offer

• According to S&P most US banks are failing to meet adequacy standards comfortably enough to avoid ratings downgrades. Both HSBC (NYSE:HBC) and Goldman Sachs (NYSE:GS) showed stronger-than-average balance sheets, with UBS (NYSE:UBS) and Citigroup (NYSE:C) well below average

On Friday, the 30-share Dow Jones industrial average fell 14 points, or 0.1%, to close at 10,318.16.  The broader S&P 500 index closed 0.3% lower at 1091.38 and the tech-heavy Nasdaq finished the day at 2146.04, off 0.5%.  On the week, the Dow average managed to hang on to gains, registering a paltry 0.5% advance.  The S&P 500 and the Nasdaq fell 0.2% and 1%, respectively.  On the New York Stock Exchange, 1.1 billion shares exchanged hands, with declining issues ahead of those that advanced in price by a three-to-two margin.

Last week’s disappointing reports on housing and weak forecasts from technology companies had antsy investors swooping up safe haven investments like Treasury bonds and dollar.  The demand for safe havens also spiked after European Central Bank President Jean-Claude Trichet remarked that the bank is planning to unwind some of its stimulus measures.  A higher dollar pushed crude prices lower and pressured stocks.

Nevertheless, at the center of the activity on the Wall Street is the ascending price of such physical assets as gold, which touched its fresh highs of $1146.80 on Friday, and a declining dollar.  The metal, although lacking fundamental valuation measures, has surged 29.7% so far this year.  Since India's central bank bought 200 tons from the IMF, the metal has jumped 11.5% on its dollar-alternative, safe-haven, inflation-resistant appeal.

Meanwhile, the decline in the US dollar has raised valuation expectations for the major industrial companies, with offshore sales expected to boost revenues.  Nevertheless, this week’s highlight remains today’s after-market-close earnings from Hewlett-Packard (NYSE:HPQ).  Last week the company preannounced strong quarterly numbers, anticipating record sales results of $30.36 billion, and earnings of $1.13, and also lifted its 2010 guidance.

Last week, the 1% decline in the technology shares came after weaker-than-expected guidance from two software companies, Autodesk (NASDAQ:ADSK) and Salesforce.com (NYSE:CRM), was compounded by disappointing numbers from Dell (NASDAQ:DELL).  Technology companies felt the heat after Dell (NASDAQ:DELL) reported quarterly earnings that were well below analysts’ expectations.  The company said sales of its computers to big businesses remain weak.  Shares in the company plunged 10% to $14.29.  So far in November, the NASDAQ has advanced 5%, and is up 36.1% year-to-date. 

The 0.2% pullback in S&P500 was caused by declines in oil and gas (-1.4%) and tech (-1.3%) sector shares that offset gains in health care issues (+1.5%) and basic materials (+1.2%).

The earnings calendar has slowed, but companies still due to report include: Campbell Soup (NYSE:CPB) on Monday; American Eagle (NYSE:AEO), Barnes and Noble (NYSE:BKS), Dollar Tree (NASDAQ:DLTR) on Tuesday, with Deere (NYSE:DE), J Crew (NYSE:JCG) and Tiffany (NYSE:TIF) on Wednesday.

Chicago, IL – November 23, 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: Dell Inc. (DELL), Berkshire Hathaway (BRK.A), Burlington Northern Santa Fe Corporation (BNI), JPMorgan Chase (JPM) and Wells Fargo (WFC).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Friday’s Analyst Blog:

Dell Falls Short of Expectations

Dell Inc. (DELL) reported third quarter 2010 EPS of 23 cents, below the Zacks Consensus Estimate of 27 cents.

Revenue for the quarter was $10.75 billion, down 17.0% from $12.97 billion reported in the year-ago quarter and up 1.0% from $10.62 billion reported in the previous quarter. The company’s third quarter reported revenue was adversely affected by the timing of the Windows 7 launch and due to backlog buildup in the company’s SMB and consumer businesses.

Large Enterprise posted revenue of $3.4 billion, an increase of 4.0% sequentially and decline of 23.0% year-over-year. In the last quarter, the company expended its networking partnership with Brocade and Juniper, and introduced products like PowerEdge 11g servers and expanded PowerVault storage systems.

Public revenue for the quarter was $3.7 billion, down 3.0% on sequentially and 7.0% from the year-ago quarter. Shipments were down 12.0% on a sequential basis, due to seasonality in the U.S. public sector business.

Small and Medium Business revenue for the quarter was $3.0 billion, up 5.0% sequentially and down 19.0% from the year-ago quarter. Shipments increased 9% sequentially. The segment benefited from steadily improving demand in both the Americas and the Asia-Pacific region, as well as better performance in EMEA during the second half.

Revenues for Consumer Business were down 10.0% year-over-year, but flat sequentially to $2.8 billion with shipments growing 4% sequentially.

Dell’s total sales in China, India, Brazil and Russia increased 18.0% sequentially and 5.0% over last year. China, the second-largest revenue generating country for Dell, reported revenue increase of 20.0% sequentially and 8.0% from the year-ago quarter.

Buffett Borrows for Rail Acquisition

Warren Buffett, the CEO and Chairman of Berkshire Hathaway (BRK.A) announced on Thursday to borrow $8 billion of loan for the acquisition of Burlington Northern Santa Fe Corporation (BNI). Berkshire Hathaway, which already owns a 22% stake in Burlington Northern, announced earlier this month it would acquire the rest for a total value of $34 billion. Buffet agreed to pay $100 a share in cash and stock to buy the rest of the company.

The $8 billion loan that will be provided by JPMorgan Chase (JPM) and Wells Fargo (WFC) is intended to be paid back in three years’ time.

For Berkshire, the acquisition of Burlington Northern, or BNSF, the second largest railroad, will be its biggest to date. With it, Berkshire is adding a railroad transportation business with its already diverse range of businesses including retail, manufacturing and insurance, as well as several regional electric and gas utilities.

The acquisition is expected to close in early 2010 and is subject to Burlington Northern’s shareholder approval. Post acquisition, Burlington Northern will operate from its headquarters as a wholly owned subsidiary of Berkshire Hathaway.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

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Chicago, IL – November 20, 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: Apple Inc. (AAPL), KT Corp. (KTC), SK Telecom (SKM), China Unicom (CHU) and American Express Company (AXP).

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Here are highlights from Thursday’s Analyst Blog:

South Korea Welcomes iPhone

Apple Inc.’s (AAPL) iPhone is finally reaching the hands of South Korean mobile users. The country’s telecom regulator Korea Communications Commission (“KCC") has granted Apple the license to sell the iconic handset in the domestic cell phone market. KCC has also lifted the restrictions that prohibited location-based services on smartphone devices such as the Google Maps application on iPhone.

South Korea’s second-largest wireless carrier KT Corp. (KTC) will start booking Internet order for iPhone (3G & 3GS) soon and begin selling it from Nov 28, 2009. The company targets to initially sell 150,000 units priced between KRW250,000 and KRW300,000 (US$216 and US$260). KT’s peer SK Telecom (SKM), the largest mobile operator in the country, is still negotiating with Apple for securing distribution rights.

South Korean wireless market is technologically advanced and relatively mature with roughly 47 million total subscribers, representing 96% penetration of the country’s population. Currently, the country’s cellular handset market is dominated by local companies such as Samsung and LG Electronics, two of the world’s leading handset manufacturers.

With KCC’s approval, South Korea is set to become one of the last major Asian countries to get the iPhone. The device has been already launched by China Unicom (CHU) in China in October 2009. Additionally, iPhone is also being sold in other major markets such as India, Japan and Australia.

KCC’s approval to allow foreign handset vendors to enter the domestic market is aimed at increasing the options for brand-conscious cell phone users rather than just limiting their choice to indigenously manufactured devices. In April 2009, the Korean government cleared the path for foreign handset vendors by abolishing a mandate requiring all mobile handsets sold locally to use a home-grown software platform.

AmEx to Buy Revolution Money

American Express Company (AXP) said on Wednesday that it will acquire Internet payment platform Revolution Money for about $300 million.

The deal is expected to close in early 2010. Following the closure of the deal, Revolution Money would operate as a subsidiary of AmEx. The founder and chief executive of Revolution Money, Jason Hogg, will continue as president and chief executive.

St. Petersburg-based Revolution Money was founded by AOL co-founder Steve Case’s Revolution LLC in 2007. Revolution Money provides payments through an internet-based platform and issues prepaid cards that can be used for offline payments or to withdraw cash from ATMs in the U.S. Additionally, Revolution Money offers MoneyExchange, a service to remit money by people using social and instant messaging networks.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
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Web Content Editor
312-265-9380
Visit: www.zacks.com

KCC’s approval to allow foreign handset vendors to enter the domestic market is aimed at increasing the options for brand-conscious cell phone users rather than just limiting their choice to indigenously manufactured devices. In April 2009, the Korean government cleared the path for foreign handset vendors by abolishing a mandate requiring all mobile handsets sold locally to use a home-grown software platform.      
 
While approval of iPhone in South Korea represents a boon for local mobile users, the presence of a leading foreign brand will intensify competition in the country’s highly penetrated mobile market. Local companies such as LG and Samsung are gearing up for the emerging competition as they are strengthening their handset range by adding more state-of-the-art devices.
 
Nevertheless, iPhone represents a significant opportunity for the incumbent wireless carriers in South Korea (such as KTC and SKM) to attract high-end customers, which would help them to boost wireless data ARPU (average revenue per user) and customer base.

Company Description

DryShips operates drybulk carriers and offshore oil deep water drilling worldwide. The dry bulk fleet has a capacity of over 3.4 million deadweight tons and operates 39 drybulk carriers, including 7 Capesize, 30 Panamax and 2 Supramax carriers.

The company's offshore oil deep water drilling division operates 2 ultra deep water semisubmersible drilling rigs and 4 ultra deep water newbuilding drillships.

DryShips Surprised by 28.57% in the Third Quarter

On Oct 26, DryShips reported its third quarter results and beat the Zacks Consensus Estimate by 6 cents. Earnings per share were 27 cents compared to the Zacks Consensus of 21 cents.

The drybulk carrier segment continues to be challenged by the global economy. Net voyage revenues (voyage revenues minus voyage expenses) fell to $114.8 million from $228.2 million in the year ago period.

The company said the decrease was due to substantially lower freight market compared to the third quarter of 2008.

The offshore drilling segment, however, saw revenues rise 22.1% to $107.6 million from $88.1 million in the year ago period.

Outlook

Going forward, the company is seeing signs of economic recovery from countries other than China and India. Its drybulk fleet is also virtually fixed for the rest of 2009 and for 2010. It is also already 77% fixed for 2011.

Zacks Consensus Estimates Rise

Analysts have been raising estimates since the earnings beat. The fourth quarter Zacks Consensus Estimate has risen 4 cents to 25 cents in the last month.

The 2009 Zacks Consensus has climbed 12.8% to $1.06 from 94 cents per share in the prior 30 days with 7 out of 8 analysts raising during that time.

Fundamentals

DryShips has surprised on estimates 2 out of the last 4 quarters. The company's price-to-book ratio is just 0.67. Analysts expect 5-year sales growth of 77.18%.

Zacks Investment Research

Chicago, IL – November 16, 2009 – Zacks Equity Research highlights Infosys (INFY) as the Bull of the Day and Myriad Genetics Inc. (MYGN) the Bear of the Day. In addition, Zacks Equity Research provides analysis on American International Group (AIG), Citigroup (C) and Bank of America (BAC).

Full analysis of all these stocks is available at http://at.zacks.com/?id=5506

Here is a synopsis of all five stocks:

Bull of the Day:

We are upgrading Infosys (INFY) to an Outperform rating with a target price of $57. Through the ongoing economic downturn, the company has invested in Research & Development as well as intellectual property-based solutions. It continues to focus on large deals targeted at organizational transformation where there is a dearth of vendor talent.

The company continues to win new customers and manages to keep its order book healthy. It is increasing its presence in the emerging markets of Mexico, Brazil, China and India from where an increasing proportion of revenue can be sourced in the coming years.

Finally, its solid balance sheet and cash flow generation provides support to our estimates.

Bear of the Day:

Myriad Genetics Inc. (MYGN) reported first quarter fiscal 2010 earnings of 31 cents per share, which was below the Zacks Consensus Estimate by a penny. The company had earned 25 cents per share in the year-ago period.

Myriad Genetics spun off its therapeutics business in July 2009 to focus on molecular diagnostics going forward. Although the molecular diagnostics business is performing well, we remain concerned about the slowdown in revenue growth in recent quarters.

The competition confronting Myriad Genetics products in the biotechnology and genetics testing field is also a concern. We have an Underperform rating on the stock.

Latest Posts on the Zacks Analyst Blog:

Pay Czar to Allow Competitive Pay

The U.S. Treasury's pay czar, who oversees compensation for the highest-paid employees at the firms that received U.S. taxpayer assistance, said on Thursday that he is concerned that pay cuts could obstruct the ability of these firms to retain and attract top talent. However, the pay czar would be open to requests to hire new executives at competitive industry rates.

The pay czar, Kenneth Feinberg, decides compensation packages for the highest-paid employees at the seven firms that have received substantial support from the Troubled Asset Relief Program (TARP). The pay restrictions were imposed on these firms to enable them to repay government money by controlling excessive pay.

The seven firms, whose top 25 earners received an average 50% lower pay last month by the order of the pay czar, are American International Group (AIG), Citigroup (C), Bank of America (BAC), Chrysler Financial, Chrysler Group LLC, General Motors and GMAC Inc.

Though all seven firms that are subject to such scrutiny have expressed concerns about the impact of pay limits, none of them has appealed to the pay czar.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=5507.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

About the Analyst Blog

Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=5508.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5509.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com

The company continues to win new customers and manages to keep its order book healthy. It is increasing its presence in the emerging markets of Mexico, Brazil, China and India from where an increasing proportion of revenue can be sourced in the coming years.

Finally, its solid balance sheet and cash flow generation provides support to our estimates.Zacks Investment Research

The table at the right summarizes the percent change between January 6 and November 11 in the cash prices of 19 commodities reported in the Wall Street Journal (downloaded via Webstract). The average commodity in this list has appreciated 37% since the start of the year.

A recent paper by Ke Tang and Wei Xiong documents an increasing tendency for commodity prices to move together over the last few years. A decade ago, what happened to oil prices was largely unrelated to movements in most other commodity prices. The graphs below show how the correlations between oil prices and the prices of four representative commodities have increased significantly over time.

Correlation (using a rolling sample beginning one year before indicated date) between returns on oil and specified commodity. Source: Tang and Xiong (2009).

One explanation I often see in the popular press is that movements in commodity prices are driven by changes in the value of the dollar relative to other currencies. However, the magnitude of movements in commodity prices greatly exceeds the size of changes in the exchange rate. For example, the table above shows that since the start of this year oil prices have increased five times as much as the dollar price of a euro; see also Steve Gordon's graphs. While the depreciation of the dollar is part of the story, most of the explanation must be found elsewhere.

Another important factor is resurging real economic growth outside the United States, which produces pressures for both the dollar to depreciate and the real price of commodities to appreciate. According to this theory, the increasing correlations between commodity prices results from the fact that countries like China are so much more important for the world economy today than they were a decade ago.

A third explanation is that investors are making increasing use of commodities as an investment class. Although Treasury Inflation Protected Securities offer a hedge against an increase in the U.S. consumer price index, they don't offer protection for foreign investors against depreciation of the dollar. Insofar as increases in the prices of commodities like oil may depress real economic activity, holding commodities as an investment also offers useful diversification against risks to equities. Particularly when interest rates are low, there is an incentive to hoard physical commodities as an investment vehicle.

The paper by Tang and Xiong proposes that the increased use of commodities as a financial investment accounts for the increasing correlation among commodity price changes over time. In support of that claim, they note the growing popularity of investment strategies based on the Goldman Sachs Commodity Index or the Dow Jones Commodity Index. Tang and Xiong document that correlations among commodities included in the indexes have increased faster than those not included. For example, one of the regressions they estimate relates the return on commodity i to equity returns, bond yields, the value of the dollar, and oil prices, where the coefficients are allowed to grow with time at different rates before and after 2004, and with different trends on these coefficients estimated for commodities included in indexes as for those excluded. The figure below shows their estimated time path for the coefficient on oil prices comparing the indexed and non-indexed groups.

Coefficient relating return on average commodity to return on oil as a function of time for commodities included in the GS or DJ indexes (top curve) and those excluded (bottom curve). Source: Tang and Xiong (2009).

For any of the explanations in this third class, one of the important challenges is to reconcile the story of commodity speculation with supply and demand for the underlying physical commodity. If we propose that speculators have driven the price of the commodity up, the physical quantity demanded should decline as a result. In order to be sustained, a coherent speculation-based theory of commodity price appreciation requires increased physical storage of the commodity.

The solid black curve in the figure below plots the typical U.S. crude oil stocks (excluding those held in the Strategic Petroleum Reserve) for each week of the year, based on the average over 1990-2007. The red line gives the actual values for 2008, which were significantly below the historical average, particularly in the spring of 2008 when oil prices were rising so dramatically. Those below-normal inventories were one reason I focused on what was going on to the fundamentals of supply and demand in trying to understand the behavior of oil markets in the first half of 2008.

Weekly U.S. crude oil ending stocks, excluding SPR, in thousands of barrels, from EIA. Black line: average over 1990-2007. Red: 2008. Green: 2009.

On the other hand, inventories of crude oil this year, shown in green above, have been substantially above normal, meaning that in the absence of that oil going into storage, we would have expected to see lower oil prices than we currently have.

Moreover, much of the current stockpiling may be taking place outside the United States. For example, Yves Smith noted this story from Bloomberg last August:

Copper, nickel and other base metals stockpiled by speculative Chinese investors including pig farmers may be sold when "market sentiment turns," said Scotia Capital Inc.

A price surge and easy bank credit this year encouraged pig farmers, stock brokers and businessmen to buy copper and nickel for speculation, Liu Na, an analyst with Scotia Capital, wrote in a note dated Aug. 17, citing reports from the state-owned China Central Television....

"These stockpiles are in 'weak hands' as speculators have no real use for base metals," Liu wrote. "When the market sentiment turns, they are very likely to turn into quick sellers, especially when the bank's money is involved."

I also found this November 3 story from the Financial Times of interest:

Gold prices continued to rise on Wednesday extending the all-time highs which followed India's central bank bought 200 tonnes of the precious metal, swapping dollars for bullion as the country's finance minister warned the economies of the US and Europe had "collapsed".

India's decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.

Policy-makers in the Federal Reserve have traditionally thought of inflation as a broad movement in all wages and prices, which to some extent is under their control, and viewed changes in relative commodity prices as outside their control. I believe that this is not the correct understanding of the current situation. Concerns about inflation, particularly on the part of foreign dollar-holders, are likely to show up first in the relative prices of internationally traded commodities. Insofar as these relative price changes can be destabilizing in themselves, it cannot be wise for U.S. policy-makers to ignore them.

Both the joint venture agreement and the cabin assembly contract stem from a MOU signed in Feb 2007 by the companies to explore the creation of aerospace operations in India. The cabin assembly contract signed in June 2009 has led to ongoing construction in Hyderabad, in the state of Andhra Pradesh, where TASL will assemble S-92 helicopter cabins starting in 2010. 

The new joint venture will be positioned to manufacture components for other aerospace Original Equipment Manufacturers (OEMs) as well as detailed parts for the Sikorsky S-92® helicopter cabin. It is expected that the joint venture operations will be housed in a second greenfield facility that will be constructed in Hyderabad, next to the cabin assembly building. Construction for the joint venture company's facility is targeted for completion by 2011, with production beginning in late 2012.

Tata companies operate in seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. They are, by and large, based in India and have significant international operations. The total revenue of Tata companies, taken together, was $70.8 billion in 2008-09, with 64.7% of this coming from business outside India, and they employ around 357,000 people worldwide.
 
United Technologies provides high technology products and services to the building systems and aerospace industries worldwide. Operating units include businesses with operations throughout the world. Otis, Carrier and UTC Fire & Security (collectively referred to as the commercial businesses) serve customers in the commercial and residential property industries worldwide; Carrier also serves commercial, industrial, transport refrigeration and food service equipment customers.

Pratt & Whitney, Hamilton Sundstrand and Sikorsky (collectively referred to as the aerospace businesses) primarily serve commercial and government customers in both the original equipment and aftermarket parts and services markets of the aerospace industry; Hamilton Sundstrand and Pratt & Whitney also serve customers in certain industrial markets. Major competitor is Boeing Co. (BA).
 
We currently have a Neutral recommendation on UTX.

Chicago, IL – November 13, 2009 – Zacks.com announces the latest Industry Outlook. Today, Zacks Equity Research discusses the Steel Industry, including ArcelorMittal (MT), Steel Dynamics Inc. (STLD), AK Steel Holding Corporation (AKS), United States Steel Corporation (X) and Nucor Corporation (NUE).

ArcelorMittal (MT) is the world’s largest steel company with steel production of 103.3 million tons in 2008. Other major players in the industry are Steel Dynamics Inc. (STLD), AK Steel Holding Corporation (AKS), United States Steel Corporation (X) and Nucor Corporation (NUE).

The Asia-Pacific region, especially China and India, is witnessing higher production and consumption of steel. This is due to the per capita consumption reaching up to U.S./European levels, which could, theoretically at least, double steel demand in the longer-term. China has set up the largest steel industries in the world, driven by increasing demand for rapid urbanization and large infrastructure projects. The country accounted for nearly 50% of monthly total world production in August 2009.

China’s share is larger than the combined production of the U.S., the European Union (EU), Russia and Japan, which have historically been the largest producers of steel. In 2001, China's annual share of world production stood at 17%, while the EU accounted for the largest share at 18%. In eight years, China's share of world production has almost tripled, while other producers have seen their shares decrease. Ranked behind China are Japan and the U.S.

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About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5511.

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
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Web Content Editor
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Chicago, IL – November 12, 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: Vodafone Group Plc (VOD), Telefonica (TEF), Deutsche Telekom (DT), France Telecom (FTE) and Verizon (VZ).

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Here are highlights from Wednesday’s Analyst Blog:

Vodafone Profit Leaps, Lifts Savings

Vodafone Group Plc (VOD), the largest wireless carrier in the world by revenue, has announced interim results for fiscal year 2010 with adjusted net income of £4.58 billion (US$7.3 billion) increasing 15% year over year from £3.99 billion (US$6.4 billion) reported a year ago, driven by favorable exchange rate movements and reduced tax. Adjusted earnings exclude one-time items such as impairment losses.

The telecom giant reported consolidated revenues of £21.8 billion (US$34.8 billion) for the period, representing a 9.3% year over year growth. Favorable exchange rate (euro-sterling) swings and net impact of merger and acquisition initiatives contributed to this growth. Excluding these impacts (organic basis), revenue declined 3% year over year.

Group service revenue declined 2.6% year over year on an organic basis to £20.5 billion (US$32.7 billion), primarily due to weaker contributions from European markets as recessionary conditions curbed demand for wireless services. Adjusted EBITDA increased 2.9% year over year to £7.5 billion (US$12 billion) driven by cost control.

Revenues for the European segment increased 3% year over year (down 5.1% on organic basis) to £14.9 billion (US$23.8 billion). Service revenue in Europe declined 4.5% organically as growth in Italy and the Netherlands was more than offset by decreases across Spain, Germany and the UK due to a weaker economy, regulatory pressure and intense competition.

Decline in voice revenue continues to offset growth in data. Revenue in Germany and the UK remains under pressure due to mobile termination rate (inter-operator fees) cuts. Vodafone is also losing customers in the UK as subscribers switch to its major rival Telefonica’s (TEF) O2 which is marketing iPhone in the UK.

Moreover, Deutsche Telekom (DT) and France Telecom (FTE) have recently finalized an agreement to combine their UK units, which will create the largest mobile carrier in the UK.

This segment posted revenues of £3.7 billion (US$5.9 billion), up 36% year over year. Organically, service revenue fell 3.2% as consistent growth at Vodacom (South Africa) and increase in subscriber count were partly offset by weak contributions from Romania and Turkey. Service revenue at Vodacom increased 4.2% on an organic basis as a result of healthy subscriber accretion.

Asia Pacific & Middle East segment continues to perform in line with expectation. Revenue surged 15.9% year over year (11.3% organically) to £3.1 billion (US$4.9 billion), driven by continued strong growth in India , the single biggest contributor to organic revenue growth. Service revenue in India increased 20.5% organically boosted by roughly 55% growth in wireless customer base amid intense price competition.

During the six-month period, Vodafone registered roughly 20.6 million net new mobile connections across its operations, bringing the total subscriber base to 323.3 million (83.5% represented by prepaid). India continues to be a key driver for subscriber growth with a net addition of 14 million customers in the first six months of fiscal 2010.

In Europe, the company registered a net loss of 262,000 subscribers during the half-year period. Verizon’s (VZ) mobile unit, Verizon Wireless, in which Vodafone holds a 45% stake, however, posted a net addition of 1.1 million customers.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

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Chicago, IL – November 12, 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: Macy’s Inc. (M), Nissan (NSANY), Priceline.com (PCLN), General Electric Co. (GE) and United Technologies Corp. (UTX).

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Here are highlights from Wednesday’s Analyst Blog:

Macy’s Raises Earnings Guidance

Macy’s Inc. (M) recently reported third-quarter 2009 results. The company posted a loss of 3 cents a share that outshined the Zacks Consensus Estimate loss of 9 cents, and improved substantially from a loss of 8 cents delivered in the prior-year quarter.

Effective inventory management and division consolidation to lower costs helped the company to post a narrower quarterly loss.

The better-than-expected results prompted management to raise its earnings guidance. Macy’s now expects full year 2009 earnings in the range of $1.01 to $1.06 per share, up from the previously anticipated 70 cents to 80 cents a share. For the fourth-quarter 2009, earnings are expected between $1.00 and $1.05 per share.

On a reported basis, including one-time items, Macy’s reported a quarterly loss of 8 cents a share, an improvement over a loss of 10 cents delivered in the year-ago quarter.

Nissan to Build World’s Cheapest Car

Carlos Ghosn, the Chief Executive of the alliance Renault and Nissan (NSANY), has revealed that the company will roll out a small car with its Indian partner, Bajaj Auto, that will be cheaper than any other car in India -- and in the world. The car, which is scheduled for launch in India in 2012, would beat India’s largest automaker Tata Motors’ Nano both in terms of pricing and fuel-efficiency, and become the world's cheapest car.

Presently, Tata Nano is the world's cheapest car. The car has a starting price of about Rs100,000 ($2,150). When Renault and Bajaj started discussing on their "ultra low-cost" car 2 years ago, it has been revealed that the car would have been priced between $2,500 and $3,000. However, at the World Economic Forum meeting in New Delhi, India, Mr.Ghosn announced that the ultra low-cost car would be cheaper than the Nano.

So far, India’s bottom-end motor vehicles market has been well known for motorcycles. After the hearty response to the Tata Nano, automakers around the world realized the huge market potential for small cars in India. Hence the initiative for the world's cheapest car.

Priceline Beats, Guidance Strong

Priceline.com (PCLN) reported very strong third quarter results, with earnings beating the consensus by 57 cents and revenue beating by 5.3%.

Revenue of $730.7 million was up 21.0% sequentially and 30.1% year over year. The significant increase from the year-ago quarter was helped by easier comps as the third quarter of 2008 was impacted by the recession, while the third quarter of 2009 benefited from strengthening demand.

Revenue growth was driven by significantly higher room night volumes, which offset the decline in average daily rates (ADRs). Room nights increased 14.1% sequentially and 56.3% year over year. Both airline ticket units and rental car days declined sequentially, although they were up 30.2% and11.6%, respectively from the year-ago quarter.

GE to Sell Security Systems

General Electric Co. (GE) is in talks to sell its security systems unit, most likely to United Technologies Corp. (UTX), for more than $1.5 billion in an effort to reshuffle its extensive portfolio and raise capital for strategic acquisitions.

United Technologies Corp. is a diversified company whose products include Carrier heating and air conditioning, Hamilton Sundstrand aerospace systems and industrial products, Otis elevators and escalators, Pratt & Whitney aircraft engines, Sikorsky helicopters, UTC Fire & Security systems and UTC Power fuel cells. The company has been lately looking to expand its security business.

GE’s move to sell its fire alarms and security division comes as it is finalizing a bigger deal to hive off its NBC Universal television and movie unit into a joint venture controlled by the cable operator Comcast. Strategically, GE wants to raise funds to expand its core businesses – which include infrastructure, oil and gas equipment, and energy – partly by hiving off peripheral divisions.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
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Chicago, IL – November 10, 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: Freeport-McMoRan (FCX), Barrick Gold Corp. (ABX), Deutsche Telekom (DT), AT&T (T) and Verizon (VZ).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday’s Analyst Blog:

No Inflation Problem

How, then, does one explain the recent move in the price of gold to over $1,100 an ounce? Historically, gold has been seen as the ultimate inflation hedge. Its rise over the past year to record nominal levels (it would have to roughly double to match its inflation-adjusted high’s set back in 1979) would seem to indicate that the market is afraid of inflation. How do we square this with data from the TIPS market, which indicates the market sees no real problem with inflation?

One reason might be the rise of India, although that would not explain the day-to-day moves. Historically and culturally, Indian’s have a far higher propensity to store their wealth in the form of gold, specifically in jewelry, not bullion, than the rest of the world does. That said, I don’t think that the 200 metric tons recently bought by the Reserve Bank of India is about to be turned into necklaces and earrings anytime soon.

Still, as millions and millions of Indians become more middle class, the demand for gold has gone up. To a lesser extent, this holds true for China as well. Even more Chinese are becoming wealthy or at least middle class than are Indians, although the cultural propensity to hold gold is not quite as strong.

Part of it might just be that we have not found that many new gold mines recently, and the ore grades in places like South Africa have been going down. That, combined with rising demand, is a classic recipe for rising prices -- even if people are not expecting a return of 1970’s-style inflation.

Total world gold production has been falling over the last five years following steady growth in the over 20 years preceding that. That would mean good things for the gold miners who have large reserves of gold in the ground, especially if they are able to increase production when the rest of the world is seeing production decline. Freeport-McMoRan (FCX) and Barrick Gold Corp. (ABX) are good examples of such companies.

DT Tops Estimates on Cost-Cutting

German telecom giant Deutsche Telekom (DT) announced results for third-quarter 2009 with reported earnings per ADS of 31 cents, beating the Zacks Consensus Estimate of 25 cents. Net income of €959 million (US$1.4 billion) reflects a 7.2% increase from €895 million (US$1.3 billion) reported a year ago.

This year-over-year growth was fueled by the company’s ongoing cost-cutting initiatives under the "Save for Service" program. Total savings from this program reached approximately €5.4 billion (US$7.7 billion) at the end of the quarter, exceeding the annual savings target of up to €4.7 billion (US$6.7 billion) originally expected to be achieved in 2010.

Revenue at Mobile Communication USA (T-Mobile USA), the fourth-largest US wireless carrier, grew 3% year over year to €3.8 billion (US$5.4 billion). However, in dollar terms, total revenue for the quarter represents a 2.3% annualized decline. Net income (measured in dollars) also decreased 5.7% year over year to US$417 million.

Blended ARPU for T-Mobile USA was US$47, down from US$52 and US$48 reported in the prior-year quarter and previous quarter, respectively, as growth in data services was offset by lower roaming and customer migration to unlimited plans. Blended churn (customers switching to other products) increased sequentially and year over year to 3.4% as a result of an increase in contract churn due to intense competition.

Higher contract churn affected customer retention at T-Mobile USA in the third quarter, as evidenced by a net loss of 77,000 customers. This is compared to a net gain of 325,000 and 670,000 customers in the previous and year-ago quarters, respectively.

T-Mobile USA remains challenged by the cutting-edge wireless handsets offerings from its larger peers such as AT&T (T) and Verizon (VZ), resulting in increased customer defection. The entity served 33.4 million mobile subscribers at the end of the quarter.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com

On Tuesday, the 30-stock Dow Jones industrial average closed down 17.53 points, or 0.18%, to 9,771.91.  The broad Standard & Poor's 500-stock index added 2.53 points, or 0.24%, to 1,045.41 and the tech-heavy Nasdaq advanced 8.12 points, or 0.40%, to 2,057.32.  On the NYSE, volume slowed to 1.38 billion shares.  

The news of a sale of 200 tons of gold to India sent gold futures surging $32.10 to $1086.  Treasury prices declined with the 10-year off 16/32 to 101-08/32 and the corresponding yield surging to 3.47% from 3.41% Monday.      

Burlington Northern (NYSE:BNI) surged 28% to $97 after the $26 billion offer from Berkshire.  Technology stocks were under pressure following a Morgan Stanley (NYSE:MS) analyst downgrade of semiconductor companies. Intel (NASDAQ:INTC), the world’s biggest computer-chip maker, fell 2.7% to $18.50 and Novellus Systems Inc. (NASDAQ:NVLS) declined 5.2% to $19.71.  Shares in basic materials, oil and gas and industrials rose 1.8%, 1.5%, and 1.3%, respectively in yesterday's trade.  Meanwhile, automakers reported October sales numbers mostly higher from a year ago.  General Motors (NYSE:GM) posted its first y/y sales gain, in nearly two years, as its sales rose 5%; Ford (NYSE:F) said its sales rose 3%; Toyota (NYSE:TM) sales, although flat, were ahead of estimates of a 6% decline.  Chrysler sales fell 30%.

Nevertheless, corporate earnings so far have continued to beat Wall Street estimates, with 84% of the S&P500's 358 firms reported so far currently beating Street estimates.  Meanwhile, the S&P 500 is currently trading 55% above its 12-year low hit on March 9. 

Today’s earnings calendar includes quarterly reports from the following: Comcast (NASDAQ:CMCSA), Time Warner (NYSE:TWX), News Corp. (NYSE:NWS), Prudential (NYSE:PRU), Qualcomm (NASDAQ:QCOM), Devon Energy (NYSE:DVN), and Becton Dickinson (NYSE:BDX).

Company Description

Euronet Worldwide, Inc. provides electronic payment services domestically and internationally. The company was founded in 1994 and has a market cap of $1.17 billion.

Shares of EEFT have gained more 200% in the last 7 months after bottoming out below $8 in early March. The company's recent third-quarter results, reported on Oct 28, were better than expected.

Third-Quarter Results

Sales were down 5.7% from last year but earnings came in better than expected at 34 cents per share, 6 cents ahead of the Zacks Consensus Estimate. The company has beat in each of the last 4 quarters by an average of 5 cents, or 19%.

Euronet noted that its results were helped by stronger profits in Europe and India related to its electronic financial transaction processing unit. But the company also added that currency exchanges hurt its results, effected by the weak Dollar compared to last year.

Estimates Advance

Estimates have advanced on word of the good quarter, with the current year adding 4 cents and climbing to $1.17 per share. The next-year estimate is pegged at $1.42, a bullish 21% growth projection.

Valuation

Based on the current-year estimate shares of EEFT are trading with a P/E multiple of 18X, in line with the overall market.

The Chart

Shares of EEFT have been trading mostly sideways for the last few months after posting big gains earlier in the year. Take a look below.

Zacks Investment Research

Chicago, IL – November 3, 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: Ford Motor Company (F), Wipro Limited (WIT), General Electric Company (GE), Cognizant Technology Solutions Corporation (CTSH) and Infosys Technologies Limited (INFY).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday’s AnalystBlog:

Ford Turns Impressive Profit

Ford Motor Company (F) returned to profitability in the third quarter of the year by posting a net income of $873 million or 26 cents per share, easily clearing the Zacks Consensus Estimate loss of 15 cents per share as well as the year-ago loss of 6 cents per share.

This was, in fact, Ford's first operating profit since the first quarter of 2008. The company, which was on the verge of bankruptcy in the middle of the year, accredited its rebound to improved product line, inviolable structural cost reduction efforts and improved results at Ford Credit.

Although revenue was down 2.5% to $30.9 billion, Automotive revenue rose $100 million to $27.9 billion from the year-ago level. This was attributed to favorable net pricing and higher volumes, primarily in North America, offset partially by unfavorable exchange. Total wholesale vehicles advanced 5% to 1,232,000 units.

The Automotive division reported a pre-tax operating profit of $446 million versus a pre-tax loss of $2.9 billion a year ago. This reflected favorable net pricing, structural cost reductions, lower material costs and improved market share -- not to mention the federal CARS ("Cash for Clunkers") program -- offset partially by unfavorable exchange and lower industry volumes.

Wipro Beats Estimates

Wipro Limited (WIT) announced second quarter of fiscal year 2010 results. Total revenue for quarter ended Sep 30, 2009, was Rs 69.18 billion ($1.44 billion), representing an increase of 6% over the same period last year. Net income for the quarter ended Sep 30, 2009, was Rs 11.71 billion ($243 million), representing an increase of 21% from the same period last year. Earnings per share for the quarter ended Sep 30, 2009, were Rs 8.04 (17 cents), representing an increase of 20% over the same period last year. This exceeded the Zacks Consensus Estimate of 14 cents per share.

IT Services business segment recorded revenue of Rs 49.98 billion ($1039 million) for the quarter ended Sep 30, 2009, representing an increase of 5% over the same period last year. EBIT for this segment was Rs 11.80 billion ($245 million) for the quarter ended Sep 30, 2009, representing an increase of 19% over the same period last year.

IT Products business segment recorded revenue of Rs 11.85 billion ($247 million) for the quarter ended Sep 30, 2009, recording a growth of 19% over the same period last year. EBIT for this segment was Rs 612 million ($12.7 million) for the quarter ended Sep 30, 2009.

Consumer Care and Lighting business segment recorded a revenue of Rs 5.56 billion ($116 million) for the quarter ended Sep 30, 2009, representing an increase of 15% over the same period last year. EBIT for this segment was Rs 732 million ($15.2 million) for the quarter ended Sep 30, 2009, representing an increase of 12% over the same period last year.

Wipro GE Healthcare, the joint venture between Wipro Ltd. and GE Healthcare, integrated several existing standalone business units and manufacturing plants of GE Healthcare in India under the Wipro GE Healthcare entity. This strategic move will lead to more effective management and resource utilization and help accelerate growth for GE Healthcare, the US$17 billion health care business of General Electric Company (GE) through Wipro GE Healthcare’s large distribution network.

Looking ahead for the quarter ending Dec 31, 2009, the company expects revenues from its IT Services business to be in the range of $1,092 million to $1,113 million.

Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services company globally. Wipro’s IT Services business was assessed at Level 5 for CMMI V 1.2 across Offshore and Onsite development centers. Major competitors include Cognizant Technology Solutions Corporation (CTSH) and Infosys Technologies Limited (INFY).

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com

Peabody’s revenues declined to $1.67 billion in the quarter from $1.89 billion a year ago. The company’s U.S. revenues per ton increased 11% over last year due to higher realized prices. Realized revenues for Australia averaged $82 per ton - $125 per ton for metallurgical coal and $72 per ton for thermal coal - up 33% from the second quarter of 2009.

The company’s total sales volumes were 63.5 million tons, down from 65.6 million tons a year ago. U.S. sales reflected planned Powder River Basin (PRB) reductions. But Australian sales of 6.5 million tons were 30% above the second quarter and Australian metallurgical coal exports were 2.7
million tons, nearly triple the pace of the first half of 2009.

Peabody now expects its 2009 EBITDA to be $1.2-$1.3 billion versus previous target of $1-$1.2 billion. The company is targeting earnings of $1.34 - $1.54 per share, including a tax remeasurement, or $1.60 - $1.80 per share excluding the tax effects.

It expects total sales to be 235 - 245 million tons in 2009, with sales of approximately 190 million tons in the United States and 21 to 23 million tons in Australia. The company continues to exercise tight capital discipline and has lowered its 2009 capital expenditure range to $325 - $375 million.

The company intends to double its exports of Australian coal over the next five years to serve the fast-growing Asian markets. The company growth going forward is expected to be driven by continued strength in United States and Australia (Pacific markets), led by China's and India's demand for metallurgical coal for steelmaking.

Chicago, IL – October 21, 2009 – Zacks Equity Research highlights Vodafone (VOD) as the Bull of the Day and Conmed Corp. (CNMD) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Caterpillar Inc. (CAT), Coca Cola Company (KO) and Lockheed Martin Corporation (LMT).

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:

We maintain our Outperform recommendation for Vodafone (VOD), the largest revenue generating international wireless carrier. Revenue growth in the last quarter was fuelled by foreign exchange gains and acquisitions.

Additionally, increase in subscriber base was driven by continued healthy net additions in its Indian operation. Vodafone's globally diversified operation provides hedging elements which offset price competition and translation risk that may arise in specific markets. The company continues to accelerate 3G wireless service deployments and expanding network availability across Asia, Eastern Europe and Africa.

Moreover, Vodafone is focused on improving shareholder returns through attractive dividend payouts. Management's outlook for fiscal 2010 remains favorable as operating results are expected to improve with continued growth across incipient markets coupled with ongoing cost saving initiatives and currency exchange translation gains.

Bear of the Day:

Conmed Corp. (CNMD) operates in highly competitive markets against competitors that are much larger, technically competent and possess substantially more assets.

Additionally, many of these competitors offer a range of products not matched by Conmed, which may make Conmed's offerings less attractive to surgeons, hospitals, and group purchasing organizations that are trying to reduce the number of vendors they do business with. In the second quarter, earnings per share were $0.17, compared to the Zacks Consensus Estimate of $0.16 and the year-ago earnings of $0.43.

We have an Underperform rating on Conmed with a target price of $18.

Latest Posts on the Zacks Analyst Blog:

Caterpillar Tops Expectations

Caterpillar Inc. (CAT) reported third quarter earnings of 64 cents per share, well above the Zacks Consensus Estimate of 7 cents per share. The company’s better-than-expected performance was primarily driven by higher price realization, lower SG&A and R&D costs, and inventory decrement benefits.

However, on a year-over-year basis the company’s EPS declined 54.0%. Revenue in the quarter was down 43.8% to $7.3 billion from $13.0 billion posted last year. The sales decline in the quarter constituted lower machinery sales volume (-$4.2 billion), lower Engines sales volume (-$1.5 billion), negative impact of foreign currency translation (-$138 million), lower financial products revenue (-$118 million), partially offset by higher price realization (+$227 million).

Coca Cola Reports Modest Results

The Coca Cola Company (KO) reported modest results for the third quarter with earnings of 81 cents per share. Earnings were in-line with the Zacks Consensus Estimate and flat year-over-year.

Net operating revenues for the quarter declined 4% year-over-year, driven by a 6% negative impact from currency translation and a 1% adverse impact from a structural change. This was partially offset by 2% increase in concentrate sales and a 1% benefit from pricing and product mix.

Worldwide unit case volume increased 2% in the quarter, aided by a 4% improvement in international unit case volume and 2% growth in the Coca Cola trademark brand. The emerging markets of India and China grew an impressive 37% and 15%, respectively. In addition, strong unit case volume growth was observed in other key markets including Eurasia & Africa, Latin America and Pacific. Europe posted a 2% volume decline, while North American volume declined 4%.

Lockheed Demonstrates Strength

Before markets opened today, the Big Daddy among Defense contractors, Lockheed Martin Corporation (LMT), reported strong third quarter fiscal 2009 results and raised its fiscal outlook. In the reported quarter with EPS of $2.07, the company beat both the Zacks Consensus Estimate and the year-ago EPS of $1.83 and $1.92, respectively.

Net earnings rose to $797 million in the reported quarter compared to $782 million in the year-ago quarter. In a reversal of fortune, pension accounting adjustment negated $113 million from the quarter while in the year-ago quarter this adjustment had added $32 million to earnings. The spike in pension liability was due to the lower value of the company’s retiree fund.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=5507.

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Chicago, IL – October 19, 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: Cognizant (CTSH), UBS AG (UBS), Infosys Technologies Ltd (INFY), Repsol YPF S.A. (REP) and Eni S.p.A. (E).

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Here are highlights from Friday’s AnalystBlog:

Cognizant Buys UBS ISC

Cognizant (CTSH) recently announced a definitive agreement to acquire UBS India Service Centre Private Limited for about $75 million. Based in India, UBS ISC is a captive service provider to UBS AG (UBS) and currently employs 2,000 associates.

Headquartered in Zurich and Basel, Switzerland, UBS AG is a global firm providing services to private, corporate and institutional clients. New Jersey-based Cognizant is a leading provider of consulting, technology and business process outsourcing (BPO) services.

The transaction is expected to close by the end of 2009. As part of the transaction, UBS and Cognizant have entered into a multi-year service agreement under which Cognizant will provide a range of business process outsourcing (BPO), knowledge process outsourcing (KPO), IT, and remote infrastructure management services to UBS divisions around the globe. Cognizant aims to help these divisions to reduce time-to-market, expand service delivery, and improve productivity, operational efficiency and quality.

UBS is a leader in wealth management, investment banking, asset management, research and remote IT infrastructure management. Management at Cognizant believes that this acquisition will help Cognizant strengthen its business and knowledge process capabilities, deepen its financial services domain knowledge, and improve its capabilities to provide integrated services across consulting, technology, and outsourcing.

Cognizant continues to outperform its peers and remains a leader in IT services. Compared to its competitors Tata Consultancy Services Ltd and Infosys Technologies Ltd (INFY), CTSH is setting a more robust tone going forward.

Repsol Confirms Gas in Venezuela

Following the test on recently found gas resource in the shallow waters of the Gulf of Venezuela, Repsol YPF S.A. (REP) confirmed reserves of between 5.6 trillion and 7.8 trillion cubic feet of gas. With an estimated area of 33 square kilometers, it is the country’s largest discovery.

Repsol (32.5% interest) partners with Italy's Eni S.p.A. (E – 32.5%) and Venezuela's state-owned oil company Petroleos de Venezuela SA (35%) for future production on this resource.

While Venezuela aims to increase natural gas output to overcome the current deficit, Repsol wants to boost oil and gas production through new discoveries off the coasts of Brazil and Venezuela after four years of declining output.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com