Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

Earnings Projections are on the Rise

The company is watching analysts boost estimates ahead of reporting fiscal second quarter results in early December. For the year ending April 2010, the Zacks Consensus Estimate jumped from $2.19 to $2.21 per share in 1 month's time.

For the following year, analysts polled by Zacks are calling for earnings of $2.25 per share, up from last month's $2.21.

The second-quarter Zacks Consensus Estimate of 60 cents per share was increased from 57 cents over the past 90 days.

A Solid First Quarter

The company announced fiscal first-quarter results in early September. Earnings of 87 cents per share, exceeded the Zacks Consensus Estimate by 45% and topped the year-prior total. During the past 4 consecutive quarters, Casey's delivered an average upside earnings surprise of 17.5%.

The company also declared a dividend of $0.085 per share, which translates into a an industry-leading yield of 1%. The dividend was paid out on November 2.

Beating the Benchmarks

Fundamentally, Casey's is leading the industry. The company's return on equity (ROE) of 14% doubles the industry average of 7%. Its net profit margin of 2% tops the industry average of 0.44%.

Casey's has also outperformed technically lately as shares have doubled the market's return over the past 3 months. Zacks Investment Research

Headquartered in Minnetonka, Minnesota, American Medical Systems is a world leader in medical devices and procedures used to treat erectile dysfunction and other men's and women's health problems. Other men's health problems include incontinence, benign prostate hyperplasia, and stricture. Women's health problems include menorrhagia (excessive bleeding during menstruation), incontinence, and other pelvic floor defects. The company’s primary competitors include Johnson & Johnson (JNJ) and Boston Scientific Corp. (BSX).

For the fourth quarter, the company expects revenues between $94 million and $98 million. Revenues related to Symantec products is projected between $19 million and  $22 million. Excluding Symantec, revenue is estimated to come around $75 - $76 million, up 16 % - 18%. Earnings per Share are expected between 30 cents and 34 cents.
 
For the full year, the company expects revenues between $393 million and $397 million. Earnings per share is expected between $1.69 and $1.73.

It remains to be seen how the company carves its growth part sans Symantec, which has been contributing more than 30% to the top-line (directly or indirectly). Symantec earlier informed Digital River that it expects to move all of the online traffic currently outsourced to Digital River to an internally developed Symantec e-commerce system before the current contract expires.

Symantec has not yet informed Digital River regarding the timing of its migration plans or the nature of the support it will require from Digital River during the transition period.

DRIV is currently diversifying its software business into complementary markets, which include consumer electronics and games. DRIV also plans to invest in new technologies to unlock opportunities in horizontal markets such as subscriptions and business-to-business software market.

However, we would like to be on sideline before the picture becomes clearer and the company finds out sources to compensate for the loss of Symantec.
 
Headquartered in Minneapolis, MN, Digital River provides e-commerce solutions for software publishers and retailers worldwide. The company delivers software and other digital goods online to over 40,000 customers.

Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

A Solid Quarter

The company announced fiscal first-quarter results in early September. Earnings of 87 cents per share, exceeded the Zacks Consensus Estimate by 45% and topped the year-prior total. During the past 4 consecutive quarters, Casey's delivered an average upside earnings surprise of 17.5%.

"Strong gas margins and enhanced profitability inside the stores were the primary reasons for the record quarter," said President and CEO Robert J. Myers. "Lower retail fuel prices also brought about significant relief in our operating expenses."

The company also declared a dividend of $0.085 per share, which translates into a an industry-leading yield of 1%.

The dividend is payable Nov 16 to shareholders of record on Nov 2.

Bullish Forecasts and Strong Momentum

The company is seeing higher Zacks Consensus Estimates and a share price surge after reporting. For the year ending April 2010, forecasts of $2.19 per share are up a penny over the past month and are 21 cents higher than the projections of 2 months ago. The most accurate Zacks Consensus Estimate is more bullish at $2.28 per share.

The Zacks Consensus Estimate for the fiscal second quarter stands at 60 cents per share, versus the 2 months-ago level of 57 cents.

Shares of CASY have more than doubled the market's return after reporting first quarter results. Zacks Investment Research

Based in Minnesota, Lawson is a leading provider of enterprise resource planning (ERP) software solutions and professional services to mid-market enterprises in the health care, retail, public and professional service industries.

LWSN expects revenues between $160 million and $165 million in the quarter, down 14% to 16% year over year, as the company expects recessionary conditions to moderate in late 2009 or early 2010. The unfavorable movement in foreign exchange rates is expected to account for half of this decline.

EPS is forecasted around 5 cents. Margins are expected to show improvement in fiscal 2010 due to cost-cutting measures undertaken by management.

The company earlier reported in line results for the fiscal fourth quarter. Business for Lawson continues to be adversely affected by the deteriorating global economy as most customers have tightened their budgets. The slowdown in the economy will continue to affect business in the first quarter, especially the services business. Lawson derives its revenue from software license fees as well as professional services (including consulting, training, and implementation) and customer support and maintenance.

The August quarter is a seasonally slow quarter for the services business due to summer holidays in Europe. The slowdown in the economy compounds the decline in top-line for the first quarter.

Given the consolidation in the industry, potential growth and scale of Lawson's major competitors may make them more formidable. The increased competition from Oracle, SAP, JDA Software, Microsoft and others is putting pricing pressure on the company. In particular, SAP AG and Oracle Corporation, both being large global ERP vendors, are increasingly targeting mid-sized businesses as their traditional larger-customer market is becoming more mature, which is a threat for the company.

Earnings per share rose to 27 cents from 19 cents a year ago. The Zacks Consensus Estimate called for 18 cents per share.

Revenues jumped 43.2% to $193.2 million from $134.9 million in the year ago period. All three of the company's segments saw growth in the quarter. Equipment sales jumped 44.3% to $141.1 million from $97.8 million last year. Parts sales climbed 37.7% and service revenues grew 44.4% to $15.6 million from $10.8 million in the second quarter of last year.

For the first six months of the year, revenues grew 25% compared to fiscal 2009.

The agriculture equipment business remained strong as the company's customers continued to have access to credit and were investing in equipment. They continue to purchase large tractors and combines. The construction equipment side of the business continued to be soft and was a reflection of the recession and a slowdown in the construction industry.

Titan added 2 agriculture equipment dealerships during the quarter. It also had $86 million in cash and cash equivalents as of July 31 and only $39.6 million in long-term debt.

Titan now operates a network of 68 agriculture and construction dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, and Wyoming.

Reaffirmed Guidance

Titan still likes what it sees for the rest of fiscal 2010. It reaffirmed revenue and EPS guidance for the year. Revenue is expected in the range of $750 to $790 million. Earnings per share are projected between 92 cents and $1.04 per share.

Covering analysts moved to adjust their estimates based on the recent results. The third quarter Zacks Consensus Estimate fell 4 cents to 32 cents from 36 cents with 3 out of 4 analysts lowering in the last 30 days.

However, the full year Zacks Consensus Estimate jumped 4 cents to 96 with all 4 analysts raising during that time.

Value Fundamentals

Titan Machinery is now a Zacks #2 Rank (buy) stock. It is still an attractive value stock, trading at 12.5x forward earnings. Its price-to-book ratio is now 1.2. The company has a solid 1-year return on equity of 10.27%.

Read the Feb 10, 2008 article.

Update to Previous Value Zacks Rank Buy Stocks

Tech Data Corporation (TECD) beat the Zacks Consensus Estimate for the third straight quarter in August and sees IT spending stabilizing in the Americas in the upcoming quarter. TECD trades at 14.9x forward earnings. Read the full article.

RockTenn Company (RKT) has surprised on the Zacks Consensus Estimate 3 out of the last 4 quarters and has posted record earnings in both the first and third quarters. Can the company do it again when it reports fourth quarter in November? Read the full article.

Bucyrus International (BUCY) surprised on estimates for the second quarter in a row in July. Analysts forecast 10.6% year over year earnings growth in 2009 despite the global recession. BUCY isn't very expensive, trading at just 10.8x forward earnings. Read the full article.

GOL Linhas Aéreas Inteligentes S.A. (GOL) is finding profit in being Brazil's largest low-cost airline. The company has surprised on estimates the last 2 quarters. The stock is cheap, trading at 9.7x forward earnings. Read the full article.

Zacks Investment Research

Cliffs expects the North American Iron Ore business segment to recognize sales volume of about 16 million tons in 2009, higher than the previous guidance of 13 million to 14 million tons. North American Iron Ore equity production volume in 2009 is expected to be 17 million tons, up from a prior projection of 15 million tons.

Cliffs also raised its 2009 expected sales volume for its North American Coal business segment to about 1.8 million short tons from a previous expectation of 1.5 million tons. North American Coal production volume is expected to be 1.8 million tons, up from a previous expectation of 1.3 million tons. Cliffs operates coal mines in West Virginia and Alabama.

The higher near-term volume outlook is in response to recent blast furnace restarts in North America and Europe and seasonal inventory rebuilding. On Sept 3, Cliffs subsidiary United Taconite in Minnesota announced its plans to ramp up production of iron ore pellets for the rest of 2009, with a moderate increase in steel demand in the last couple of months.
 
Cliffs plans to produce 15 million tons of iron ore in North America for the full year. It plans to increase production from this month through October. Mining operations will increase at the Thunderbird Mine in Eveleth, Minnesota this month and production will increase at the concentrator portion of the facility, located at the Fairland plant in Forbes, Minnesota in October. Line 1 furnace which was idled in October last year, is expected to start up fully in November.

The anticipated increase in production will allow more than 400 hourly workers to progress toward a 40-hour work week. United Taconite has been operating under a 32-hour work week since November 2008, when its operating furnaces in Hibbing and Eveleth were idled due to weak demand for iron ore in the steel making process.

Earlier in August, Cliffs’ wholly owned subsidiary Pinnacle Mining Company, LLC recalled about 100 employees at its Pinnacle and Green Ridge No. 1 mines in West Virginia with improvement in coal demand. The Pinnacle Complex includes the Pinnacle, Green Ridge1 and Green Ridge 2 mines and the Pinnacle Preparation Plant. Both the Pinnacle and Green Ridge 1 mines had halted production during Feb 2009. The production shutdown affected approximately 360 employees. The mines produce metallurgical coal for the steel industry.

Steel Dynamics became the largest producer of ferrous scrap after acquiring Indiana-based OmniSource Corp. in 2007. The company believes that its scrap business will be profitable in full year, reversing losses of about $9 million in the first half of 2009. Significant improvements in processing volume and better margins due to higher facility utilization, better cost control and favorable pricing should help margins in the business.

The company is building a $235-million iron-making facility in Minnesota (Mesabi Nugget) in partnership with Kobe Steel of Japan. The project will produce a fully metalized iron-nugget product suitable for use as an alternative iron or scrap substitute. Steel Dynamics expects bulk of the iron output from this planned nugget plant to be consumed in its mini-mills.

The company did not provide any guidance for the fourth quarter, citing uncertainty in the market and continued weakness in non-residential construction industry. However, we believe Steel Dynamics will benefit from its relatively higher mix of flat steel.

The company has expanded its flat steel operation at the Butler plant in Indiana to 3 million tons and runs it at full capacity. Despite a weak long bars and beams market and extremely low utilization rate, Steel Dynamics was able to manage profit on the back of strong prices at this division.

Although the market for beams could remain particularly challenging for some time, we believe that the company is well positioned to take advantage when the economy recovers. Additionally, the Mesabi Nugget project should further reduce its already low cost structure. We maintain our Outperform recommendation on the stock.

The amendment pertains to the coupon rate that was increased 25 basis points to 4.00%. The exchange offer will close on Sep 16, 2009 at midnight. All other terms and conditions for the exchange offer remain unchanged.

The exchange offer calls for exchange of each $1,000 principal amount of its new 3.75%, now 4.00%, Convertible Senior Subordinate Notes due 2041, for each $1,000 principal amount of its 2036 Notes. The 2041 Notes will be converted into cash or shares of the company's common stock at the same conversion rate and price as the 2036 Notes.

The terms and conditions of the exchange offer suggest that holders of 2041 Notes will have the right to compel the company to repurchase their notes at par on Sep 15, 2016, as opposed to Jul 1, 2013 in case of 2036 Notes.

We think that the delay of more than three years will enable the company to defer its debt repayment.

Headquartered in Minnetonka, Minnesota, American Medical Systems is a world leader in medical devices and procedures used to treat erectile dysfunction and other men's and women's health problems. Other men's health problems include incontinence, benign prostate hyperplasia, and stricture. Women's health problems include menorrhagia (excessive bleeding during menstruation), incontinence, and other pelvic floor defects.

The company competes with Johnson & Johnson (JNJ) and Boston Scientific Corporation (BSX).

In its recent release, Cliffs announced plans to produce 15 million tons of iron ore in North America for the full year. The company plans to increase production from this month through October.

Mining operations will increase at the Thunderbird Mine in Eveleth, Minnesota this month and production will increase at the concentrator portion of the facility, located at the Fairland plant in Forbes, Minnesota in October. Full start-up of the Line 1 furnace is expected in November, which was idled in October last year.

The anticipated increase in production will allow more than 400 hourly workers to progress toward a 40-hour work week. United Taconite has been operating under a 32-hour work week since November 2008 when its operating furnaces in Hibbing and Eveleth were idled due to weak demand for iron ore in the steel making process.

United Taconite, which previously operated as EVTAC Mining Company was idled in 2003 after it filed for bankruptcy. Cliffs Natural Resources and Laiwu Steel Group purchased EVTAC and reopened it as United Taconite in December 2003. In July last year, Cliffs acquired Laiwu’s ownership interest and now wholly owns United Taconite.

Recently, Cliffs Natural named Janice Henry, former senior vice president and chief financial officer of Martin Marietta Materials Inc. (MLM) to its board of directors. Henry currently serves on the board of directors of North American Galvanizing & Coatings Inc. and previously served on the board of Inco Ltd., now known as Vale Inco, a subsidiary of the second largest mining company in the world, Vale SA (VALE), of Brazil. In June 2006, she retired from Martin Marietta Materials, where she had served as chief financial officer from 1994 through 2005.

Permanent Closure of the Muskegon mill was in response to the weak demand for coated fine paper in the global markets. The company is focusing on improving profitability and returns in all its businesses.

The company said that the closure of the Muskegon Mill will not affect the product lines offered by Sappi Fine Paper North America. Products previously made at Muskegon will continue to be manufactured at the company's other paper mills in Skowhegan, Maine and Cloquet, Minnesota.

To match its production to current demand levels and reduce inventories, Sappi has implemented various capacity reduction measures across its plants in North America and Europe, including the mills acquired from M-real. The company is also implementing additional cost cutting initiatives in response to the current economic conditions.

We expect the coated paper and pulp demand to remain weak in the near term.

Given the current market conditions, we do not expect any increase in the selling prices. With the market conditions remaining weak and no expectation of pricing gains, we estimate a double digit revenue decline for fiscal 2009. However, we believe that the cost cutting measures implemented by the company, along with the decline in input costs and acquisition synergies will offset some of this negative impact on margins.

Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa

Bullish Forecasts

The company is seeing higher Zacks Consensus Estimates ahead of reporting fiscal first-quarter results. During the past 3 months, forecasts of $1.97 per share climbed from $1.80 for the year ending April 2010.

For the following year, the Zacks Consensus Estimate was increased from $1.95 per share to $1.97 over the past 3 months.

The Zacks Consensus Estimate for the fiscal first quarter stands at 60 cents per share, versus the 3 months-ago level of 55 cents.

First quarter results are scheduled for release on September 9.

Record Results

The company's fiscal fourth-quarter and full-year report included record earnings for the year of $1.69 per share. Last year, Casey's earned $1.68 per share.

Fourth-quarter earnings of 31 cents per share topped the previous year's 28 cents but missed the Zacks Consensus Estimate of 36 cents.

In fiscal 2010, the company said it plans to increase same-store sales of gas, groceries and prepared food. The company also increase its number of stress by 4%.

Casey's hiked its dividend to $0.085 per share, which was paid out on August 17. CASY's dividend yield tops the industry average at 1.3%.

Solid Fundamentals

The company offers a return on equity (ROE) of 12.5%, surpassing the industry average of 10%. The company's net profit margin of 2% is ahead of the industry average of 1%. Zacks Investment Research

Chicago, IL – August 11, 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: JPMorgan Chase (JPM), Wells Fargo & Company (WFC), Zions Bancorp (ZION), BB&T Corp. (BBT) and Fifth Third Bancorp (FITB).

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:

Bank Shutdowns Continue

In the first quarter of 2009, the number of banks on the Federal Deposit Insurance Corporation’s (FDIC) list of problem institutions jumped to 305. This is the maximum number since the savings and loan crisis in 1994.

Out of the 3 banks, 2 were Florida based and the other one was Oregon based. The FDIC has appointed receivers of the banks. According to the FDIC, the cost to the deposit insurance fund from the failure of the three banks will be around $185 million.

The First State Bank, of Sarasota, Fla. and the Community National Bank of Sarasota County of Venice, Fla. were sold to Stearns Bank of St. Cloud, Minnesota. The Community First Bank of Prineville, Oregon was sold to Home Federal Bancorp of Nampa, Idaho.

Total assets and deposits of First State Bank, Community National Bank and Community First Bank were $463 million and $387 million, $97 million and $93 million, and $209 million and $182 million, respectively.

The largest acquirers of failed U.S. banks during 2008 and 2009 include JPMorgan Chase (JPM), Wells Fargo & Company (WFC), Zions Bancorp (ZION), BB&T Corp. (BBT) and Fifth Third Bancorp (FITB).

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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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Visit: www.zacks.com

Rate of growth of real GDP (annual rates), 1947:Q2 to 2009:Q2. Shaded regions represent dates of NBER recessions.

On the other hand, our Econbrowser Recession Indicator Index is impressed with just how cold the winter was. This is a pattern recognition algorithm for identifying recessions that waits one quarter for new data and revisions before making a final assessment. Based on the 2009:Q2 GDP numbers just released, the value that the algorithm assigns to the first quarter of 2009 is 99.7, the highest reading since 1980. We'll declare the recession to be over when the index falls below 33.

The plotted value for each date is based solely on information as it would have been publicly available and reported as of one quarter after the indicated date, with 2009:Q1 the last date shown on the graph. Shaded regions represent dates of NBER recessions, which were not used in any way in constructing the index, and which were sometimes not reported until two years after the date.

In terms of specific factors contributing to the 2009:Q2 growth rate, consumption spending, housing, nonresidential fixed investment, inventory change, and exports each subtracted almost 1%-- had it not been for the positive contribution from falling imports and increasing government spending, the Q2 number would have been -4.3% instead of -1%. Should we be cheering the fact that falling imports were a key factor preventing GDP from declining even more? Falling U.S. imports can create problems for those countries trying to export to us and are a symptom of a very weak U.S. economy. But lower U.S. imports are a necessary element of our longer run adjustment process, and indeed, if the increase in U.S. private saving were just matched by the decrease in U.S. imports, we'd be exactly where we want to be in both the short and the long run.

Of course, we're not there at the moment, not even close, but I find some things to cheer about in the other components of GDP as well. It would take nothing more profound than for inventories to stop falling for GDP growth to be 1% higher over the next year than it was over the last. Indeed, it's reasonable to expect inventory rebuilding to make a positive contribution to GDP growth rates for the second half of the year. A similar calculation holds for housing. If the value of new homes built in the second half of the year remains at the same extremely low levels we saw in the first half, the GDP growth rate will be 1% higher. And it looks like home sales could well be higher, not just constant between 2009:H1 and H2.

On the other hand, it's hard to see nonresidential fixed investment making a positive contribution any time soon.

But by all means, go ahead, take your shirt off. As long as you understand that it's still plenty cold out there.

Chicago, IL – July 30, 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: ev3 Inc. (EVVV), Merck (MRK), Boston Scientific (BSX), Medtronic (MDT) and C.R. Bard (BCR).

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 Wednesday’s Analyst Blog:

ev3 Reports Strong Quarter

ev3 Inc. (EVVV) reported strong results for the second quarter of fiscal 2009 and raised net sales and adjusted EPS guidance for the full year. Quarterly EPS was $0.23, compared with a loss of $0.26 per share, a year ago. Adjusted EPS was $0.14, versus a loss of $0.05 a share, in the year-ago quarter.

Quarterly net sales increased roughly 1% year over year to $109.1 million. Net sales in the year-ago quarter included $6.2 million of research collaboration revenues from the company’s agreement with Merck (MRK). The deal was terminated on July 22, 2008. Excluding this impact, net sales increased roughly 7% year over year. An unfavorable foreign currency translation hurt net revenues in the quarter. Before that, net revenues rose roughly 12% year over year.

Management has raised its net sales and adjusted EPS guidance for 2009. It now sees net sales in the range of $435 million to $445 million, compared to its prior view of $420 million to $430 million.

Adjusted EPS is expected to range between $0.47 and $0.53, compared to the previous range of $0.40 to $0.45. The diluted number of outstanding shares is expected to be 108.6 million.

For the third quarter, net sales are expected in the range of $109 million to $112 million. Adjusted EPS should range between $0.09 and $0.12. The diluted number of outstanding shares is expected to be 111.3 million.

ev3 is a Plymouth, Minnesota-based endovascular company that concentrates on catheter-based or endovascular technologies for minimally invasive treatment of vascular diseases and disorders. The company's acquired broad product portfolio is focused on applications in each of the three sub-markets of the endovascular device market (ev3): peripheral vascular, cardiovascular and neurovascular.

ev3 competes in the endovascular market with a number of large companies like Boston Scientific (BSX), Medtronic (MDT) and C.R. Bard (BCR), Cordis -- all of which have greater resources.

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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.

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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

Net sales

Quarterly net sales increased roughly 1% year over year to $109.1 million. Net sales in the year-ago quarter included $6.2 million of research collaboration revenues from the company’s agreement with Merck (MRK). The deal was terminated on July 22, 2008. Excluding this impact, net sales increased roughly 7% year over year. An unfavorable foreign currency translation hurt net revenues in the quarter. Before that, net revenues rose roughly 12% year over year.

In terms of business segments: Peripheral vascular sales increased 2% year over year to $72.0 million. Sales in this segment were driven by stents, thrombectomy and embolic protection devices. This was partly offset by lower atherectomy revenue. Neurovascular sales increased 21% year over year to $37.1 million. Growth in this segment can be attributed to higher sales of embolic, neuro access and delivery products.

Margins

Gross margin increased 570 basis points year over year to 72.1%. The company was able to reduce its operating expenses substantially in the quarter. This resulted in an operating margin of roughly 4.9%, compared to an operating loss margin of 24.9%, providing a spread of 2,980 basis points year over year.

Outlook

Management has raised its net sales and adjusted EPS guidance for 2009. It now sees net sales in the range of $435 million to $445 million, compared to its prior view of $420 million to $430 million.

Adjusted EPS is expected to range between $0.47 and $0.53, compared to the previous range of $0.40 to $0.45. The diluted number of outstanding shares is expected to be 108.6 million.

For the third quarter, net sales are expected in the range of $109 million to $112 million. Adjusted EPS should range between $0.09 and $0.12. The diluted number of outstanding shares is expected to be 111.3 million.

ev3 is a Plymouth, Minnesota-based endovascular company that concentrates on catheter-based or endovascular technologies for minimally invasive treatment of vascular diseases and disorders. The company's acquired broad product portfolio is focused on applications in each of the three sub-markets of the endovascular device market (ev3): peripheral vascular, cardiovascular and neurovascular.

ev3 competes in the endovascular market with a number of large companies like Boston Scientific (BSX), Medtronic (MDT), C.R. Bard (BCR), Cordis -- all of which have greater resources.

Given the competition, much of the company's recent growth has come from new product introductions. Therefore, continued product development and marketing are important to the company's outlook.

Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

Record Results

The company recently released its fiscal fourth-quarter report, which included record earnings for the year of $1.69 per share. Last year, Casey's earned $1.68 per share.

Fourth-quarter earnings of 31 cents per share topped the previous year's 28 cents but missed the consensus estimate of 36 cents.

In fiscal 2010, the company said it plans to increase same-store sales of gas, groceries and prepared food. The company also increase its number of stress by 4%.

Casey's hiked its dividend to $0.085 per share, noting that it is payable August 17 to shareholders of record on August 3. CASY's dividend yield tops the industry average at 1.1%.

CASY has been trading ahead of market since reporting in mid-June, and stock is beating the market by more than 30% over the past year.

Bullish Forecasts

Analysts' earnings estimates for the year ended April 2010 are at $1.97 per share, above the 2 months-ago level of $1.80.

For the following year, analysts are calling for earnings of $1.97 per share, an increase from the 2 months-ago level of $1.95. Zacks Investment Research

STATES WITH PROJECTED FY2010 BUDGET GAPS
State	FY2010 pre-budget	FY2010 mid-year gap	FY2010 Total	FY2010 Total % of Budget
Alabama	$1.2 billion	0	$1.2 billion	16.70%
Alaska	$1.3 billion	0	$1.3 billion	30.00%
Arizona	$4.0 billion	0	$4.0 billion	41.10%
Arkansas	$146 million	0	$146 million	3.20%
California*	$34.2 billion	$19.5 billion	$53.7 billion	58.20%
Colorado	$1.0 billion	$384 million	$1.4 billion	18.60%
Connecticut	$4.1 billion	0	$4.1 billion	23.20%
Delaware	$557 million	0	$557 million	17.60%
District of Columbia	$650 million	$150 million	$800 million	12.70%
Florida	$5.9 billion	0	$5.9 billion	22.80%
Georgia	$3.1 billion	$750 million	$3.9 billion	22.30%
Hawaii	$682 million	$297 million	$978 million	19.10%
Idaho	$411 million	0	$411 million	16.40%
Illinois	$9.2 billion	0	$9.2 billion	33.00%
Indiana	$1.1 billion	0	$1.1 billion	7.50%
Iowa	$779 million	0	$779 million	13.20%
Kansas	$1.4 billion	Yes, DK size	$1.4 billion	22.60%
Kentucky	0	$1.1 billion	$1.1 billion	11.30%
Louisiana	$1.8 billion	0	$1.8 billion	21.60%
Maine	$640 million	0	$640 million	21.40%
Maryland	$1.9 billion	Yes, DK size	$1.9 billion	13.60%
Massachusetts	$5.0 billion	0	$5.0 billion	17.90%
Michigan	$2.4 billion	0	$2.4 billion	12.00%
Minnesota	$3.2 billion	0	$3.2 billion	21.00%
Mississippi	$480 million	0	$480 million	9.60%
Missouri	$923 million	0	$923 million	10.30%
Nebraska	$150 million	0	$150 million	4.30%
Nevada	$1.2 billion	0	$1.2 billion	37.80%
New Hampshire	$250 million	0	$250 million	16.20%
New Jersey	$8.8 billion	0	$8.8 billion	29.90%
New Mexico	$345 million	0	$345 million	6.30%
New York	$17.9 billion	0	$17.9 billion	32.30%
North Carolina	$4.6 billion	0	$4.6 billion	21.90%
Ohio	$3.3 billion	0	$3.3 billion	12.30%
Oklahoma	$600 million	0	$600 million	10.50%
Oregon*	0	0	0	0.00%
Pennsylvania	$4.8 billion	0	$4.8 billion	18.00%
Rhode Island	$590 million	0	$590 million	19.20%
South Carolina	$725 million	0	$725 million	12.50%
South Dakota	$32 million	0	$32 million	2.90%
Tennessee	$1.0 billion	0	$1.0 billion	9.70%
Texas	$3.5 billion	0	$3.5 billion	9.50%
Utah	$721 million	$279 million	$1.0 billion	19.80%
Vermont	$278 million	0	$278 million	24.80%
Virginia	$1.8 billion	Yes, DK size	$1.8 billion	10.90%
Washington	$3.4 billion	$195 million	$3.6 billion	23.30%
West Virginia	$200 million	0	$200 million	5.30%
Wisconsin	$3.2 billion	0	$3.2 billion	23.20%
Wyoming	0	$32 million	$32 million	1.70%
Total	$143.2 billion	$22.7 billion	$165.9 billion	24.40%

This will lead to very drastic cuts in state budgets. Access to medical care by the poor will likely be one of the first things to be cut.

Education budgets will also probably be pared. This could be decreased spending on new textbooks, which would not be good news for publishers like McGraw-Hill (MHP) and Scholastic (SCHL).

Another area that is likely to be hit is new equipment at the municipal level. For example, I would not expect Oshkosh (OSK) to have a very good year selling new fire engines and snow removal equipment to municipalities.

Layoffs of state and municipal workers will simply add to the already high and rising unemployment rate. In short, a big part of the federal stimulus spending is being offset by (legally mandated) anti-stimulus actions at the state level.

As the graph shows, state fiscal problems tend to persist well after the recession is officially over. Indeed the problem is usually worse in the second or third year since by then the "rainy day funds" have already been used up.

Following the last recession, states collectively had their worst year in 2004 with a shortfall of $80 billion (or less than half what they face for fiscal 2010), which was well after the recession officially ended. Thus 2011, and possibly even 2012, will be a very lean year at the state level as well.

Conseco Inc.'s (CNO) share price has steadily gained momentum in the last few months after touching record lows in March 2009. The company recently announced two events that could benefit its risk-based capital ratio.

Conseco has announced that two insurance companies in its Conseco Insurance Group segment will coinsure about 104,000 non-core life insurance policies with a Minnesota-based reinsurance firm Wilton Reassurance Company ("Wilton Re"). In the transaction, Wilton Re will pay a ceding commission of approximately $57.5 million and 100% coinsure and administer these policies.

The Conseco companies will be transferred to Wilton Re for approximately $409 million in cash, policy loans, $466 million of statutory policy and other reserves. The transaction is expected to be completed in 3Q09. As a result of this deal, Conseco expects to record an increase in its deferred tax valuation allowance of approximately $18 million and a deferred gain of approximately $25 million in 3Q09.

The transaction is expected to help streamline the company's administrative operations by shifting focus on core insurance businesses, increasing statutory capital and be benefiting to risk-based capital ratio by 8 percentage points.

Further, Conseco expects the recent National Association of Insurance Commissioners (NAIC) move of modifying the mortgage experience adjustment factor for 2009 to benefit its risk-based capital ratio. The revised calculation will reduce the amount of capital Conseco's insurance subsidiaries are required to hold, thereby increasing its consolidated risk-based capital ratio by more than 25 basis points. However, we believe that the NAIC may modify, extend or even terminate the proposal beyond 2009 based on market conditions.

We also remain concerned about the quality of Conseco's investment portfolio. The company had approximately $43.7 million (market value) of subprime home equity securities (0.20% of total portfolio) as of March 31, of which $17.6 million (0.18% of invested assets) had a rating of "A" or less.

We believe that our concerns are already reflected in the current share price and that CNO continues to be one of the cheapest stocks compared to its peer group even after gaining sufficient momentum in the recent months.

At its current price level, the shares of Conseco trade at 0.28x its 1Q09 book value of $18.57 per diluted share (excluding AOCI), about 60% discount to the 0.69x median of the peer group. This compares to price-to-book value of approximately 100% of its rivals like Unum Group (UNM), Torchmark Corp. (TMK) and StanCorp Financial Group Inc. (SFG).

Therefore, we maintain our Hold recommendation on the shares of Conseco.

Supervalu Inc. (SVU) warned that its first-quarter profit would fall "substantially below" analyst forecasts as shoppers cut back on spending on items with the deepening recession.

"Consumers have become more value-focused and cautious in their spending, which has pressured sales and margins greater than anticipated," the second-largest U.S. grocery chain's newly appointed Chief Executive Craig Herkert said on Wednesday. Eight analysts on an average were expecting Supervalu to earn 65 cents in the quarter.

The Eden Prairie, Minnesota-based company expects same-store sales to fall by 3% even after it slashed prices and boosted promotions to attract shoppers to its Shaw's, Save-A-Lot and Shop 'n Save stores. Increased competition from larger rivals like Wal-Mart Stores Inc.(WMT) have further added to Supervalu's woes.

Supervalu shares fell the most in four months to $13.52 on the New York Stock Exchange before paring some losses to trade down more than 12% to $13.77 at midday.

Shares of Medarex Inc. (MEDX) soared the most in nearly a year after a mid-stage trial of its prostate cancer drug candidate was said to have cured two patients.

The Mayo Clinic in Minnesota reported that the drug, ipilimumab, when administered along with a hormone treatment and radiation therapy, was able to reduce the size of tumors to operable standards. Both patients had tumors deemed inoperable by surgeons since they expanded beyond the prostate into abdominal areas.

Medarex is developing the drug for treating melanoma, lung cancer and prostate cancer in collaboration with Bristol-Myers Squibb Co. (BMY). The mid-stage study for prostrate cancer involves 108 patients.

Medarex was trading up nearly 16% to $8.51 at noon on the NASDAQ after touching an intraday high of $9.01 earlier in the session. The shares had set a 52-week high of $10.12 in August last year.

Company Description

Corrections Corporation of America ("CCA") is the largest operator of correctional and detention facilities in the United States. Only the federal government and three states are larger prison operators.

The company operates 64 facilities, with 44 of those being company owned. It has a total design capacity of about 86,000 beds in 19 states and the District of Columbia.

CCA also operates educational and rehabilitation programs as well as providing health care and food services within the correctional facilities.

Revenue Climbed 6.5% in the First Quarter

On May 7, CCA reported first quarter 2009 results that surprised on analysts' estimates by 11.54%. Earnings per share were 29 cents compared to Wall Street estimates of 26 cents per share.

Revenue rose 6.5% to $404.2 million from $379.4 million during the year ago quarter. Total compensated man-days increased 3%. The average inmate population gained 4.2% during the quarter.

Revenue from federal customers rose 5.5% to $160.1 million from $151.8 million fueled by per diem increases during 2008.

Revenue for managing state customers increased 9.5% to $211.8 million from $193.5 million in the year ago time frame.

State revenue growth was primarily due to increased inmate populations in the states of California, Colorado and Idaho, which offset declining inmate populations in Minnesota, Washington, New Mexico, and Kentucky, as well as per diem increases during 2008.

"We are pleased that we were able to capitalize on our bed developments in 2008 through the award of three new contracts during the first quarter of 2009 for nearly 4,000 additional inmates," said John Ferguson, Chief Executive Officer.

"The remaining 6,700 beds in inventory positions us for additional growth in the future," he added.

Share Repurchase Program

In Nov 2008, the company announced a $150 million share repurchase program. Through May 1, 2009, CCA repurchased 10.7 million shares for a cost of $125 million. The company accelerated share repurchases in the first quarter, spending $108.4 million on 9.6 million shares.

Guidance Clouded by State Budget Concerns

CCA provided second quarter earnings per share guidance in the range of 26 cents to 28 cents. Full year 2009 EPS is expected to be between $1.17 to $1.25 per share.

The magnitude of the economic crisis on state budgets is a not yet apparent as fiscal year 2010 budgets are due by July 1. The company cautioned that the earnings guidance included its best estimate of potential outcomes in states that are customers.

However, the company believes it will see long-term benefits from the supply and demand imbalance in the number of beds that continues in the industry.

Consensus Estimates Rise

Covering analysts appear to be cautious despite the company's guidance. Second quarter estimates are at the high end of the forecast range, at 28 cents per share, but they've been there for the last 60 days.

Full-year estimates are up 5 cents to $1.21 per share in the last 2 months but 2 have lowered and 1 has raised within the last 30 days.

Value Fundamentals

Corrections Corporation of America is a Zacks #1 Rank (strong buy) stock. It has a forward P/E of 13.33. Its price-to-book ratio is 1.48. The company has a 5-year average return on equity (ROE) of 10.15%.

Zacks Investment Research

Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

Stellar Earnings

The company saw a solid third quarter. Earnings per share of 28 cents came in 47% ahead of the consensus estimate.

"We are pleased with the execution of our strategy," said President and CEO Robert J. Myers. "We were able to exceed third quarter earnings from a year ago despite a gas margin decline of over 3.5 cents per gallon."

The company has outperformed the market over the past year, receiving an extra boost after delivering the strong third-quarter results.

Wall Street is Bullish on CASY

Current fiscal year earnings projections of $1.74 per share are above the 2 months-ago level of $1.66. For the following year, earnings expectations of $1.80 were increased from last month's $1.74 and $1.70 of 2 months ago.

CASY's fiscal year ends in April, and the fourth-quarter report is scheduled for release on June 10.

Favorable Comparisons

CASY's return on equity (ROE) of 13% is in line with the industry average. The company's dividend yield of 1.2% stands out as most of CASY's industry peers pay no income. Its net profit margin of 2% is also in line with the industry average.

Zacks Investment Research

In one of the most high-profile proxy battles in US corporate history, billionaire investor William Ackman will introduce his slate of alternative directors to shareholders of Target Corp. (TGT) on Monday and ask them to overthrow the discount retailer's present board at the annual general meeting later this month.

Ackman has been pushing Target for the last two years to bring about a radical change in strategy. He claims that the Minneapolis, Minnesota-based company's directors lack relevant expertise to make critical decisions that could navigate Target through the ongoing economic crisis.

While Target has no past record of poor governance, its investors might support Ackman's activism in light of the company's underperformance in terms of key retail metrics in the recent past. Shares of Target have shed nearly 40% of their value since a July 2007 high of about $70. Rival retailer Wal-Mart that once lagged behind Target, has long surpassed the company by selling cheap basics and a wider choice of food items.

In addition to Ackman himself, his hedge fund Pershing Square has nominated Winthrop Realty Trust (FUR) chairman and Chief Executive Michael Ashner, former Starbucks Corp. (SBUX) CEO Jim Donald, law professor Ronald Gilson, and Richard Vague, the ex-chairman and CEO of Visa credit card issuer First USA. The New York-based investor believes his nominees are "better prepared than the incumbent slate to help management navigate through a challenging economic environment that may last for several years."

Even a few years back, Ackman had congenial relations with Target. Last year, he managed to persuade the company in to selling a large stake in its credit-card portfolio. However, when Target rejected his proposal of spinning off the land it owns under its stores as a publicly traded real estate investment trust, Pershing Square nominated five independent directors for the open seats on Target's board last March.

While Target has staunchly defended its board, it now remains to be seen if shareholders can keep their faith and snub Ackman's ambitions for more control in the company.

PepsiAmericas Inc. (PAS) followed larger peer Pepsi Bottling Group Inc. (PBG) on Thursday in turning down PepsiCo Inc.'s (PEP) $6 billion unslicitated takeover bid as unacceptable, calling it too low.

On Thursday, the Minneapolis, Minnesota-based company said PepsiCo's offer "does not reflect the value of PepsiAmericas' strengths and stand-alone strategies, as evidenced by the company's strong first quarter results." PepsiCo had initially offered to buy PepsiAmericas in a cash and stock deal worth about $23.27 per share, but the bottler's stock has traded above that price ever since.

As volumes in carbonated soft drinks continued to slump in the U.S., PepsiCo sought to consolidate its bottling business by buying shares it does not already own in the two companies, currently owning 43% of PepsiAmericas and 33% of Pepsi Bottling Group. However, its largest bottler, Pepsi Bottling Group, had rejected its $29.50 per share offer last Monday, calling it "grossly inadequate."

On Wednesday, PepsiCo Chief Executive Indra Nooyi said it is the right time to buy its two biggest North American bottlers. The soft drinks and snacks maker has also said both bottling companies must agree to a deal or it will not buy either of them. At present, however, none of the bottlers seem to think that it is the right price at which to be taken over considering the amount of synergies and revenue benefits PepsiCo would gain thorugh the acquisition.

Company Description

Hormel Foods manufactures various food and meat products. The company, founded in 1891 in Minnesota, owns well-known consumer brands such as Jennie-O, SPAM, Hormel, and Dinty Moore.

Second-Quarter Results Scheduled for May 21

Hormel is scheduled to report second-quarter 2009 earnings on May 21. Second quarter consensus estimates are holding steady at 50 cents per share over the last 60 days.

Full-year estimates are up 3 cents in the last 90 days to $2.24 per share.

The full-year estimate is at the high end of the company's guidance range of $2.15 to $2.25, which the company confirmed in mid-February.

History of Earnings Surprises

Hormel has a history of earnings surprises, having beaten on estimates 5 out of the last 6 quarters.

In February, the company surprised by 17.65% in the first quarter of 2009 and has averaged a 7.88% surprise in the last 4 quarters.

Dividend Payout Continues

On Mar 24, the company announced a regular quarterly dividend of 19 cents per share payable on May 15 to shareholders of record as of Apr 18.

It continues an impressive record of 323 quarterly dividends. Hormel has paid a dividend every year since the company was founded in 1928.

The company's current dividend yield is 2.50%.

Value Fundamentals

Hormel Foods is a Zacks #1 Rank (strong buy) stock. It has a forward P/E of 12.12. The company's price-to-book is 1.97. HRL has an outstanding 5-year return on equity (ROE) of 16.18%.

Zacks Investment Research

Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

Wall Street is Bullish on CASY

Current fiscal year earnings projections of $1.73 per share are above last month's $1.66. For the following year, earnings expectations of $1.76 were increased from last week's $1.74 and last month's $1.72. CASY's fiscal year ends in April.

Favorable Comparisons

CASY's return on equity (ROE) of 13% is in line with the industry average. The company's dividend yield of 1.1% stands out as most of CASY's industry peers pay no income. Its net profit margin of 2% is also in line with the industry average.

Solid Quarter

The company recently reported favorable results for the fiscal third quarter. Earnings per share of 28 cents came in 47% ahead of the consensus estimate.

"We are pleased with the execution of our strategy," said President and CEO Robert J. Myers. "We were able to exceed third quarter earnings from a year ago despite a gas margin decline of over 3.5 cents per gallon."

The company has outperformed the market over the past year, receiving an extra boost after delivering the stellar results. Zacks Investment Research

Newspapers have fared far worse than magazines, as web-based news options have proliferated in recent years. Circulation of newspapers fell 2-3% on average each year from 2005 through 2007, and that has accelerated to the mid-single digits in recent months as the economy cratered. Ad revenue is falling between 15-20% or more at many publications. A portion of classified has moved to wider-spread, more targeted, lower-priced or free options, such as ebay or Craigslist, and will not likely return.

In an effort to offset declining print revenue and market share, publishers are scrambling to leverage their brands and build complimentary web-based publications. But the deepening recession has highlighted the flaw in the online ad-only business model -- without circulation to smooth revenue, cycle downswings are often deathblows.

Ultimately, the secular downturn in circulation will force a viable new business model for online news, one that relies on subscription or one-time user fees in addition to advertising revenue. In the meantime, publishers are scrambling to slash costs fast enough to meet falling revenues. Asset sales, even at trough valuations, have proven a less viable option in the midst of tight credit markets. Those that can't cut fixed operating and financial overhead are filing for bankruptcy or closing, including many of the country's largest and most respected newspapers.

What surprised many when the The Tribune Company, owner of the Los Angeles Times and Chicago Tribune, filed for bankruptcy in January, now seems like a weekly event.

• This week, Hearst Corp. announced that it will shut The Chronicle, the 12th-largest U.S. paper and Northern California's largest daily, if it does not find a buyer or work with unions to dramatically slash costs. The closing of the 144-year old San Francisco daily is an event that would have seemed unthinkable until recently.
• Also this week, Philadelphia Newspapers L.L.C., which owns The Inquirer, the Philadelphia Daily News and Philly.com is filing for bankruptcy. The Journal Register, owner of 22 dailies in the East and upper Midwest, including The New Haven Register, succumbed under the weight of crushing debt, as well. E.W. Scripps (SSP) announced it would close The Rocky Mountain Register, the Pulitzer prize-winning 150-year old Denver institution, after failing to find a buyer. Just last week, Scripps shut down the The Albuquerque Tribune on February 23, 2008, after shopping it since August 2007.
• Last month, The Star Tribune, owner of Minnesota's largest newspaper, and the tenth-largest Sunday paper, filed Chapter 11, as it attempts to cut financing and labor costs.
• The Christian Science Monitor stopped publishing in print and is now online-only.

Stock prices have tumbled with earnings. The Zacks' publishing index is down 80% from its 52-week high. A revitalized ad market requires an economic upturn, to which there is no visibility at this time. Until there is some visibility to stabilization, we would not recommend buying shares of any of the publishing companies in our coverage universe (remain underweight).

Our top Sell recommendation in the Publishing sector is McClatchy Company (MNI). As expected, McClatchy eliminated its dividend in January, shortly after a 50% cut in September proved insufficient.

We expect more pain ahead for McClatchy. One-third of MNI's revenues are in the hard-hit California and Florida markets. Circulation revenue is falling for the 3rd consecutive year, while ad revenue sinks disproportionately (down 21% in 4Q08). In our view, MNI can't shrink its costs fast enough, posing a risk of tripping bank covenants if the revenue decline should accelerate and thereby raise leverage. Given the continued downward trend in earnings and cash flow, coupled with the company's high debt-load (Debt/TTM EBITDA was 5.1x).Zacks Investment Research

The sinking economy is forcing many publishing houses to the life-support of bankruptcy after a long illness. The eight-year deceleration in print advertising, fueled by a secular migration of readers to the Internet, has gone into free fall.

Newspapers have fared far worse than magazines, as web-based news options have proliferated in recent years. Circulation of newspapers fell 2-3% on average each year from 2005 through 2007, and that has accelerated to the mid-single digits in recent months as the economy cratered. Ad revenue is falling between 15-20% or more at many publications. A portion of classified has moved to wider-spread, more targeted, lower-priced or free options, such as ebay or Craigslist, and will not likely return.

In an effort to offset declining print revenue and market share, publishers are scrambling to leverage their brands and build complimentary web-based publications. But the deepening recession has highlighted the flaw in the online ad-only business model -- without circulation to smooth revenue, cycle downswings are often deathblows.

Ultimately, the secular downturn in circulation will force a viable new business model for online news, one that relies on subscription or one-time user fees in addition to advertising revenue. In the meantime, publishers are scrambling to slash costs fast enough to meet falling revenues. Asset sales, even at trough valuations, have proven a less viable option in the midst of tight credit markets. Those that can't cut fixed operating and financial overhead are filing for bankruptcy or closing, including many of the country's largest and most respected newspapers.

What surprised many when the The Tribune Company, owner of the Los Angeles Times and Chicago Tribune, filed for bankruptcy in January, now seems like a weekly event.   

• This week, Hearst Corp. announced that it will shut The Chronicle, the 12th-largest U.S. paper and Northern California's largest daily, if it does not find a buyer or work with unions to dramatically slash costs. The closing of the 144-year old San Francisco daily is an event that would have seemed unthinkable until recently.    
• Also this week, Philadelphia Newspapers L.L.C., which owns The Inquirer, the Philadelphia Daily News and Philly.com is filing for bankruptcy. The Journal Register, owner of 22 dailies in the East and upper Midwest, including The New Haven Register, succumbed under the weight of crushing debt, as well. E.W. Scripps (SSP) announced it would close The Rocky Mountain Register, the Pulitzer prize-winning 150-year old Denver institution, after failing to find a buyer. Just last week, Scripps shut down the The Albuquerque Tribune on February 23, 2008, after shopping it since August 2007.    
• Last month, The Star Tribune, owner of Minnesota's largest newspaper, and the tenth-largest Sunday paper, filed Chapter 11, as it attempts to cut financing and labor costs.    
• The Christian Science Monitor stopped publishing in print and is now online-only.

Stock prices have tumbled with earnings. The Zacks' publishing index is down 80% from its 52-week high. A revitalized ad market requires an economic upturn, to which there is no visibility at this time. Until there is some visibility to stabilization, we would not recommend buying shares of any of the publishing companies in our coverage universe (remain underweight).

Our top Sell recommendation in the Publishing sector is McClatchy Company (MNI). As expected, McClatchy eliminated its dividend in January, shortly after a 50% cut in September proved insufficient.

We expect more pain ahead for McClatchy. One-third of MNI's revenues are in the hard-hit California and Florida markets. Circulation revenue is falling for the 3rd consecutive year, while ad revenue sinks disproportionately (down 21% in 4Q08). In our view, MNI can't shrink its costs fast enough, posing a risk of tripping bank covenants if the revenue decline should accelerate and thereby raise leverage. Given the continued downward trend in earnings and cash flow, coupled with the company's high debt-load (Debt/TTM EBITDA was 5.1x).

Company Description

Titan Machinery operates a network of 63 full service agricultural and construction equipment stores in North Dakota, South Dakota, Minnesota, Iowa, Nebraska, Wyoming and Montana. Two of the stores are outlet stores. The company represents various brands including, among others, Case IH, New Holland Agriculture, New Holland Construction, and Case Construction.

Titan has been on an acquisition streak in recent weeks.

On Dec 23, the company announced it had acquired Anderson Power and Equipment, Inc., an agriculture equipment dealership in Thief River Falls, Minnesota. Anderson Power, which had been operating since 1972, had reported revenues of $8.6 million for the fiscal year ending March 31, 2008. Titan closed the deal on Dec 22, 2008.

On Jan 23, Titan also reported it had closed on the previously announced acquisition of Western Plains Machinery Co. and WP Rentals. Western Plains and WP Rentals, between them, had 9 construction equipment stores in Montana and Wyoming. The deal closed on Jan 1.

Combined, both companies generated revenues of $48.9 million in fiscal year 2007 which ended Dec 31, 2007, the most recently reported period.

Revenue Jumped 62% in the Third Quarter of 2009

On Dec 15, Titan announced its third quarter 2009 results which easily beat Wall Street estimates by 95.65%, or 22 cents per share. Net income surged 204% to $8.2 million from $2.7 million in the year ago period.

Revenue climbed 62% to $214 million from $132.2 million a year ago. Growth was primarily due to the continued strength of the agriculture economy, acquisitions, and organic growth.

Titan Raises 2009 Guidance

In December, the company was bullish on the rest of 2009 as it saw a strong pipeline for acquisitions, which came to fruition, as well as organic growth.

For the fiscal year 2009, ending on Jan 31, 2009, Titan raised its revenue forecast in the range of $635 million to $675 million compared to the previous guidance of $590 million to $635 million.

Earnings per share climbed to a range of $1.07 to $1.11 from prior guidance of 89 to 94 cents.

Consensus Estimates Rise

Given the strong third-quarter results, 2009 consensus estimates have moved sharply higher in the last 2 months to $1.11 from 93 cents. That is now at the high end of the guidance range.

2010 consensus estimates are also up 11 cents to $1.16 per share in the last 60 days.

Analysts still expect aggressive growth from the company, with a 5-year earnings growth projection of 24%.

Value Fundamentals

Titan Machinery is a Zacks #1 Rank (strong buy). It has surprised 3 out of 4 quarters by an average of 69.14%.

The company is trading at 10.2x forward earnings. It has a price-to-book of 1.22. TITN is scheduled to report fourth-quarter earnings on Mar 17.

"TITN" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Company Description

Corrections Corporation of America is the largest owner and manager of prisons for federal, state and local governments in the United States. The company owns and operates about 60 facilities, including 42 that are company-owned, with a capacity of more than 80,000 beds in 19 states and the District of Columbia.

CXW $150 Million Stock Repurchase Program

Despite the current economic conditions, Corrections is bullish about the future. On Nov 14, amidst the credit crisis, the company announced a $150 million stock repurchase program. CXW believed that given market conditions, it was an appropriate use of some of its capital resources.

Funds for the repurchase would come primarily from cash on hand, borrowings under the company's credit facility and cash from operating activities. The company states it would purchase only at prices which would equal or exceed the rates of return it requires when it invests in new beds.

As of Sept 30, 2008, CXW's had cash on hand of $28.7 million and $237.2 million under the revolving credit facility.

Third Quarter Revenue Jumped 8.9%

On Nov 6, Corrections Corporation of America reported third-quarter 2008 net income that increased 13.8% to $37.9 million from $33.3 million in the same quarter of 2007. Earnings per share rose 15.4% to 30 cents from 26 cents in 2007. Results missed analysts' estimates by 1 penny.

Total revenue climbed 8.9% to $411.9 million from $378.3 million in the year ago period. The increase was primarily due to higher inmate populations from the state of California combined with per diem increases in several federal and state contracts.

The average daily inmate population increased by the placement of 6,534 new beds placed into service since the end of second quarter of 2007.

2008 Guidance Adjusted

CXW lowered 2008 full-year guidance to the range of $1.18 to $1.20 from previously issued guidance of $1.21 to $1.24 citing several reasons, including recent reductions in inmate populations from the states of Washington and Minnesota due to earlier than anticipated utilization of new, state-owned bed capacity.

Fourth-quarter EPS is expected in the range of 30 to 32 cents per share.

Going forward, the company is uncertain how the current economic conditions will affect its state, federal and local government customers which may have budget shortfalls. Long-term the company sees a favorable environment, as economic conditions will prevent the building of new capacity which allows for the continuing supply and demand imbalance that favors the private prison industry.

Estimates Holding Steady

Fourth quarter estimates have been holding at 30 cents for the last 60 days, which is in line with the company's forecast.

1 out of 4 covering analysts have lowered 2008 estimates in the last week but 2008 consensus estimates are still holding at $1.18 per share.

2009 consensus estimates fell 1 penny to $1.34 from $1.35 in the last 2 months, even as 1 out of 4 covering analysts raised in the last week.

CXW is scheduled to report fourth-quarter and full-year estimates on Feb 5.

Zacks Equity Analyst Rates CWX a "Buy"

On Nov 7, Zacks Equity Analyst Sean Smith reiterated the "buy" rating on CXW.

"The company holds a significant market share advantage over its peers, with a substantial pipeline of additional capacity scheduled to be added to the portfolio over the next two years," said Sean.

"The company is the clear leader in an industry with a strong outlook, supported by favorable economic and demographic trends," he added.

Value Fundamentals

Corrections Corporation of America is a Zacks #1 Rank (strong buy) stock. It is trading at 11.3x forward earnings. CXW has a price-to-book ratio of 1.41. The company has a solid 5-year return on equity (ROE) of 10.13%.

"CXW" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Company Description

Techne Corporation develops and manufactures biotechnology products as well as hematology calibrators and controls primarily in the United States and Europe. It is a holding company, operating two subsidiaries, Research and Diagnostic Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe, Ltd. (R&D Europe) of Abingdon, England.

R&D Systems is a specialty manufacturer of biological products. It has two operating divisions, which are Hematology and Biotechnology. The Hematology Division develops and manufactures hematology controls, which are used in hospitals and clinical laboratories to check the accuracy of blood analysis instruments. The Biotechnology Division develops and manufactures biotechnology products including purified proteins (cytokines) and antibodies that are sold primarily to the research market, and assay kits which are sold to the research and clinical diagnostic markets.

Over 95% of TECH's revenues are derived from products manufactured by R&D Systems.

Solid Income

The company recently declared a quarterly dividend of 25 cents per share thanks to the company's solid performance. Techne is yielding 1.6%, which is well ahead of the industry average as most of the company's industry peers pay no dividend.

Strong Quarterly Results

Techne also recently announced fiscal first-quarter results. Consolidated net sales totaled $69.3 million, an increase of 19.6% from year-prior.

Earnings per share of 74 cents topped the previous year's 58 cents and exceeded the consensus estimate by 12%. The company has been ahead of analyst estimates by an average 9%.

Analysts are upbeat on TECH going forward. For the year ending June 2009, Analyst forecasts of $2.93 per share were increased from $2.89 over the past 60 days

More Outstanding Fundamentals

Techne's balance sheet shows no debt, while the company's return on equity (ROE) of 23% is high above the industry average.
"TECH" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Company Description

Casey's General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

CASY Saw Revenue Growth during a Challenging Quarter

The company recently delivered a solid fiscal second quarter in the face of a difficult environment. President and CEO Robert J. Myers said, “despite the challenging economic environment, same store sales in all three categories were positive for the quarter and customer traffic remained solid.”

On a year-over-year basis, second-quarter revenue increased by about 17%. Earnings per share of 54 cents were even with the year-ago result.

Analysts are hinting toward more growth going forward. For the third quarter, analysts upped the earnings per share forecast by a penny over the past week to 24 cents. For the year ending April 2009, earnings projections have held relatively steady lately at about $1.58 per share.

Competitive Income

Casey's also declared a quarterly dividend of $0.075 per share, noting that it is payable on February 16 to shareholders of record on February 2. The company's dividend yield of 1.3% is well ahead of the industry average.
"CASY" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Company Description

Techne Corporation develops and manufactures biotechnology products as well as hematology calibrators and controls primarily in the United States and Europe. It is a holding company, operating two subsidiaries, Research and Diagnostic Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe, Ltd. (R&D Europe) of Abingdon, England.

R&D Systems is a specialty manufacturer of biological products. It has two operating divisions, which are Hematology and Biotechnology. The Hematology Division develops and manufactures hematology controls, which are used in hospitals and clinical laboratories to check the accuracy of blood analysis instruments. The Biotechnology Division develops and manufactures biotechnology products including purified proteins (cytokines) and antibodies that are sold primarily to the research market, and assay kits which are sold to the research and clinical diagnostic markets.

Over 95% of TECH's revenues are derived from products manufactured by R&D Systems.

Solid Income

The Zacks #1 Rank (“strong buy”) company recently declared a quarterly dividend of 25 cents per share thanks to the company's solid performance. Techne is yielding 1.5%, which is well ahead of the industry average as most of the company's industry peers pay no dividend.

Strong Quarterly Results

Techne also recently announced fiscal first-quarter results. Consolidated net sales totaled $69.3 million, an increase of 19.6% from year-prior.

Earnings per share of 74 cents topped the previous year's 58 cents and exceeded the consensus estimate by 12%. The company has been ahead of analyst estimates by an average 9%.

Analysts are upbeat on TECH going forward. For the year ending June 2009, Wall Street forecasts of $2.93 per share were increased from last month's $2.89.

More Outstanding Fundamentals

Techne's balance sheet shows no debt, while the company's return on equity (ROE) of 23% is high above the industry average.
"TECH" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Global wheat production will likely be 4.4% less next year, Dan Basse, president of AgResource Co. in Chicago, told Bloomberg News. Basse believes the world’s corn and soybean crops will also see declines.

“The credit situation is worrying even the biggest and best farmers,” Brian Willot, a former University of Missouri commodity analyst who now grows soybeans in Brazil, told…

Company Description

Casey & General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey's General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

Solid Growth

The company reported an all-time high in earnings for the first fiscal quarter, surpassing the consensus estimate by nearly 18% and noting that the record quarter gave CASY a solid foundation for meeting its annual performance goals. During the past 5 consecutive quarters, the company missed analyst forecasts only once and on average topped estimates by 11%.

First-quarter sales were up 16.8% to $1.3 billion. Same-store gallons sold increased by 0.50%. Grocery and other merchandise same-store sales climbed 4.7%, and prepared food and fountain drinks same-store sales jumped 12.3 percent.

Favorable Comparison and Higher Expectations

CASY offers a dividend yield of 1%, which exceeds the industry average as CASY's industry group pays little to no income. The company's return on equity (ROE) is 13%, which beats industry average of 5%.

Analyst earnings estimates for the year ending April 2009 of $1.58 per share are above last month's expectations of $1.56. The most accurate projection of $1.63 per share is a more bullish one.
"CASY" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

The industry received a boost when clean energy tax credits were added to the $700 bailout bill to help its passage from Congress. But fears of falling demand and oversupply have weighed on solar stocks. The Claymore/MAC Global Solar Index ETF (NYSE:TAN) fell 35% in the first eight trading days of October.

William Patalon III, however, says new mapping technology and advances that have made solar power more eco-friendly will boost solar stocks in the long run.

This from Money Morning:

The owners of homes and businesses in 25 US cities will soon be able to use a free website to determine their rooftop’s solar-energy potential – thanks to a new specialized mapping program that has the backing of the US Department of Energy.

Engineering giant CH2M Hill Cos. Ltd., an employee-owned firm with about $5 billion in annual revenue, has received a “small-but-noteworthy” contract of $6 million under the U.S. Solar America Initiative to provide raw data on solar-power potential, MarketWatch reported.

The contract will pay the expansion of the city of San Francisco’s recently posted solar energy map. It will use advanced 3-D modeling and aerial imagery and will be available for public access through a special web portal.

Punching an address into the city’s search engine pulls up data on the estimated amount of solar photovoltaic energy that could be installed on a specific roof. Additional available data includes the potential electricity-cost reduction and the potential reduction in dioxide/greenhouse gases, the company said.

The website also provides information on installing a photovoltaic system, including contact information for local solar installers.

David Herrmann, CH2M Hill’s director of client solutions, said the mapping program could potentially replace the current method of assessing solar energy potential.

“Right now, to get a solar assessment on a roof, you have to call up the solar installer, they bring their ladder, a guy wanders around on your roof, and two or three weeks later you get a report,” Herrmann told MarketWatch. “With this technology, you could do it accurately and quickly without having to roll a truck.”

Herrmann said the company’s solar maps use a format from Google's (NASDAQ:GOOG) Google Maps to display the data, but that CH2M Hill collects the images through its own proprietary process with Esri Inc. – A Redlands, Calif.-based company that’s recognized as a leader in geographic information systems (GIS) also supplying technology for the effort.

The solar map is also compatible with the Microsoft (NYSE:MSFT) Virtual Earth display, he said.

Herrmann said the Internet-mapping business remains healthy, with companies routinely paying for airplane flyovers to provide panoramic shots of streets and buildings all across the United States.

The 25 cities for which this service will be available will include: Denver, Houston, Philadelphia, San Jose, Calif.; Santa Rosa, Calif.; Seattle; Ann Arbor, Mich.; Austin, Tex.; Berkeley, Calif.; Boston, New Orleans, New York City and Tucson, Ariz.

Also, advances in technology have made solar cell production even more eco-friendly.

A recent study by the Brookhaven National Laboratory in Upton, N.Y., found that for each unit of energy produced by solar cells, the pollution that’s emitted during the cells’ manufacture is only 2% to 11% the amount produced by power plants in the United States and Europe.

In fact, newly developed solar cells can "pay back" the energy required for their production in just one to three years. And improvements in manufacturing efficiency could reduce emissions from solar power by another 50% in five to 10 years, according to a recent report by Money Morning.

There have been tremendous advances in the production and efficiency of solar technologies.

And those advances couldn’t have come at a better time. Political support for the industry is at an all-time high as oil prices and environmental awareness both continue to rise.

The Englewood, Colo.-based CH2M Hill has 23,000 employees and ranked 54 on Fortune magazine’s 11th annual “100 Best Companies to Work For” list, a ranking that was published in late January. It’s the third time the company has ranked among those top-tier companies. CH2M Hill has also been recognized as a “Most Admired Company” by Fortune for the past five years.

CH2M HILL has been repeatedly recognized for its competitive compensation-and-benefits packages, employee ownership, and reputation for landing challenging projects, some the most recent include:

• Program management for the seven-year, $5 billion expansion of the Panama Canal.

• Overseeing the design and construction of the venues and infrastructure for the London 2012 Olympic and Paralympic games.

• The engineering and construction of the Xcel Energy Inc.’s (XEL) 580-megawatt gas-fired High Bridge Power Plant near St. Paul, Minn.

• Providing program management consulting services for the $2 billion improvement program for India’s Mumbai airport.

• Engineering services for the Southern Seas Desalination Plant in Perth, Australia, which will use “green” energy to supply 20% of that city’s water needs.
• Managing a $10 billion military-base-relocation program for the U.S. and South Korean governments

Alternative Energy Update: Can Your Rooftop Lower Your Electricity Bill?

Rising prices and strong demand are pushing Cleveland Cliff's performance. Robust industrial growth in China and India has triggered demand for steel, resulting in higher demand for iron ore. Moreover, the merger with Alpha Natural Resources, Inc. (ANR) will help Cliffs to meet the increasing global demand for coal, consolidate the supplier base and generate substantial free cash flow.

However, this is offset by a weak production profile, rising energy costs and high customer concentration. As a result, we rate the shares a Hold with a target of $38, which is 5.5x our 2008 estimate.

Read the full analyst report on CLF

University Endowment Funds List

Institution	Endowment (2005) billion USD	Endowment (2006) billion USD	Endowment (2007) billion USD
Amherst College	$ 1.155[1]	$ 1.337[2]	$ 1.662[3]
Baylor College of Medicine	$ 1.008[1]	$ 1.059[2]	$ 1.278[3]
Baylor University	$ 1.008[1]	$ 0.870[2]	$ 1.278[3]
Berea College	$ 0.862[1]	$ 0.949[2]	$ 1.102[3]
Boston College	$ 1.270[1]	$ 1.448[2]	$ 1.670[3]
Boston University	$ 0.777[1]	$ 0.916[2]	$ 1.101[3]
Brown University	$ 1.844[1]	$ 2.167[2]	$ 2.781[3]
California Institute of Technology	$ 1.418[1]	$ 1.581[2]	$ 1.860[3]
Carnegie Mellon University	$ 0.837[1]	$ 0.939[2]	$ 1.116[3]
Case Western Reserve University	$ 1.516[1]	$ 1.599[2]	$ 1.841[3]
Columbia University	$ 5.191[1]	$ 5.938[2]	$ 7.150[3]
Cornell University	$ 3.777[1]	$ 4.321[2]	$ 5.425[3]
Dartmouth College	$ 2.714[1]	$ 3.092[2]	$ 3.760[3]
Duke University	$ 3.826[1]	$ 4.498[2]	$ 5.910[3]
Emory University	$ 4.376[1]	$ 4.870[2]	$ 5.562[3]
George Washington University	$ 0.823[1]	$ 0.963[2]	$ 1.147[3]
Georgetown University	$ 0.741[1]	$ 0.834[2]	$ 1.059[3]
Georgia Institute of Technology	$ 0.937[1]	$ 1.047[2]	$ 1.281[3]
Grinnell College	$ 1.391[1]	$ 1.472[2]	$ 1.718[3]
Harvard University	$ 25.473[1]	$ 28.916[2]	$ 34.635[3]
Indiana University (system-wide)[4]	$ 1.107[1]	$ 1.276[2]	$ 1.557[3]
Johns Hopkins University	$ 2.177[1]	$ 2.351[2]	$ 2.800[3]
Lehigh University	$ 0.845[1]	$ 0.939[2]	$ 1.086[3]
Massachusetts Institute of Technology	$ 6.712[1]	$ 8.368[2]	$ 9.980[3]
Michigan State University	$ 0.906[1]	$ 1.048[2]	$ 1.248[3]
New York University	$ 1.548[1]	$ 1.775[2]	$ 2.162[3]
Northwestern University	$ 4.215[1]	$ 5.141[2]	$ 6.503[3]
Ohio State University	$ 1.726[1]	$ 1.997[2]	$ 2.338[3]
Pennsylvania State University	$ 1.175[1]	$ 1.326[2]	$ 1.590[3]
Pomona College	$ 1.299[1]	$ 1.457[2]	$ 1.761[3]
Princeton University	$ 11.207[1]	$ 13.045[2]	$ 15.787[3]
Princeton Theological Seminary	$ 0.864[1]	$ 0.945[2]	$ 1.109[3]
Purdue University (system-wide)[4]	$ 1.341[1]	$ 1.494[2]	$ 1.787[3]
Rice University	$ 3.611[1]	$ 3.986[2]	$ 4.670[3]
Rockefeller University	$ 1.557[1]	$ 1.772[2]	$ 2.145[3]
Smith College	$ 1.036[1]	$ 1.156[2]	$ 1.361[3]
Southern Methodist University(SMU)	$ 1.014[1]	$ 1.122 [2]	$ 1.328[3]
Stanford University	$ 12.205[1]	$ 14.085[2]	$ 17.165[3]
Swarthmore College	$ 1.164[1]	$ 1.245[2]	$ 1.441[3]
Syracuse University	$ 0.818[1]	$ 0.908 [2]	$ 1.086[3]
Texas A&M University System (system-wide)[4]	$ 4.964[1]	$ 5.643[2]	$ 6.590[3]
Texas Christian University	$ 0.942[1]	$ 1.016[2]	$ 1.187[3]
Tufts University	$ 0.845[1]	$ 1.215[2]	$ 1.452[3]
Tulane University	$ 0.780[1]	$ 0.858[2]	$ 1.009[3]
University of California (system-wide)[4]	$ 5.222[1]	$ 5.734[2]	$ 6.439[3]
University of Chicago	$ 4.137[1]	$ 4.867[2]	$ 6.204[3]
University of Cincinnati	$ 1.032[1]	$ 1.101[2]	$ 1.185[3]
University of Delaware	$ 1.077[1]	$ 1.223[2]	$ 1.397[3]
University of Florida	$ 0.836[1]	$ 0.996[2]	$ 1.219[3]
University of Illinois (system-wide)[4]	$ 1.148[1]	$ 1.252[2]	$ 1.515[3]
University of Kansas (system-wide)[4]	$ 0.955[1]	$ 1.049[2]	$ 1.239[3]
University of Michigan	$ 4.931[1]	$ 5.652[2]	$ 7.090[3]
University of Minnesota	$ 1.969[1]	$ 2.224[2]	$ 2.804[3]
University of Missouri (system-wide)[4]	$ 0.849[1]	$ 0.944[2]	$ 1.098[3]
University of Nebraska (system-wide)[4]	$ 1.042[1]	$ 1.153[2]	$ 1.277[3]
University of North Carolina at Chapel Hill	$ 1.486[1]	$ 1.149[2]	$ 2.164[3]
University of Notre Dame	$ 3.650[1]	$ 4.437[2]	$ 5.944[3]
University of Oklahoma	$ 0.777[1]	$ 0.960[2]	$ 1.114[3]
University of Pennsylvania	$ 4.370[1]	$ 5.313[2]	$ 6.635[3]
University of Pittsburgh	$ 1.530[1]	$ 1.803[2]	$ 2.254[3]
University of Richmond	$ 1.208[1]	$ 1.388[2]	$ 1.655[3]
University of Rochester	$ 1.370[1]	$ 1.491[2]	$ 1.726[3]
University of Southern California	$ 2.746[1]	$ 3.066[2]	$ 3.715[3]
University of Texas (system-wide)[4]	$ 11.610[1]	$ 13.235[2]	$ 15.614[3]
University of Virginia	$ 3.219[1]	$ 3.618[2]	$ 4.370[3]
University of Washington	$ 1.490[1]	$ 1.794[2]	$ 2.184[3]
University of Wisconsin (UW Foundation only)	$ 1.125[1]	$ 1.426[2]	$ 1.645[3]
Vanderbilt University	$ 2.628[1]	$ 2.946[2]	$ 3.487[3]
Wake Forest University	$ 0.907[1]	$ 1.042[2]	$ 1.249[3]
Washington University in St. Louis	$ 4.268[1]	$ 4.684[2]	$ 5.658[3]
Wellesley College	$ 1.276[1]	$ 1.412[2]	$ 1.657[3]
Williams College	$ 1.348[1]	$ 1.462[2]	$ 1.892[3]
Yale University	$ 15.224[1]	$ 18.031[2]	$ 22.530[3]
Yeshiva University	$ 1.149[1]	$ 1.273[2]	$ 1.410[3]

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Company Description

Casey & General Stores, Inc. together with its subsidiaries, operate convenience stores under the Casey’s General Stores name in the Midwest states. It has operations in Iowa, Missouri, Illinois Kansas, Minnesota, Nebraska, South Dakota, Wisconsin, and Indiana. The company was founded in 1959 and is headquartered in Ankeny, Iowa.

Solid Growth

The company reported an all-time high in earnings for the first fiscal quarter, surpassing the consensus estimate by nearly 18% and noting that the record quarter gave CASY a solid foundation for meeting its annual performance goals. During the past 5 consecutive quarters, the company missed analyst forecasts only once and on average topped estimates by 11%.

First-quarter sales were up 16.8% to $1.3 billion. Same-store gallons sold increased by 0.50%. Grocery and other merchandise same-store sales climbed 4.7%, and prepared food and fountain drinks same-store sales jumped 12.3 percent.

Favorable Comparison and Higher Expectations

CASY offers a dividend yield of 1%, which exceeds the industry average as CASY’s industry group pays little to no income. The company’s return on equity (ROE) is 13%, which beats industry average of 5%.

Analyst earnings estimates for the year ending April 2009 of $1.56 per share are above last month’s expectations of $1.49.
"CASY" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research