CORRECTING and REPLACING Brokerage Buy List: ChevronTexaco, Home Depot, Medtronic, and Microsoft.

Business Editors

CORRECTION...by ZACKS.COM 

--(BUSINESS WIRE)

In BW5287 issued Oct. 15, 2003: Sixth graph, second sentence of release should read: The world will be waiting as Microsoft will be reporting its first quarter of fiscal year 2004 earnings on October 23th, after the market closes. (STED: Oct. 16)

Today Zacks.com releases the names of 4 more stocks that are on their coveted Brokerage Buy List portfolio. This portfolio includes just those stocks that currently appear on the core recommended lists of at least three of the top 15 brokerage firms. These stocks are considered the best large cap stocks to own for the long term according the Wall Streets top players. In 2003 this portfolio has gained +13% outpacing the +9.4% rise of S&P 500. Here are 4 stocks that are currently members of this prestigious list: ChevronTexaco Corporation (NYSE:CVX), The Home Depot (NYSE:HD), Medtronic, Incorporated. (NYSE:MDT) and Microsoft Corporation (NASDAQ:MSFT). View the entire list of stocks on the Brokerage Buy List at http://www.buylist1bw.zacks.com

Here is a synopsis of why these stocks are on the Brokerage Buy List:

ChevronTexaco Corporation (NYSE:CVX) is engaged in every aspect of the oil and gas industry, including exploration and production; refining, marketing and transportation; chemicals manufacturing and sales; and power generation. Earlier this month, CVX reported a new deepwater oil discovery at the Sturgis Prospect located in Atwater Valley block 183. The block is located approximately 150 miles southeast of New Orleans. According to the company, success with deepwater projects is facilitated by applying innovative seismic techniques and using the latest technology to safely drill and produce. And so far this technique has been successful for the company. Back in August, CVX reported net income of $1.6 billion ($1.50 per share - diluted) for the second quarter 2003, compared with $407 million (39 cents per share - diluted) in the year-ago period. Besides strong earnings and cash flows in the first half of this year, they've improved their debt position, raised the quarterly dividend, formed a global gas business, and reorganized global downstream operations. Several top brokerage firms believe CVX is moving aggressively on several fronts to increase the value of the company for their stockholders and are recommending CVX as a Core Holding.

The Home Depot (NYSE:HD) is the world's largest home improvement retailer. Coupled with a recent dividend increase, the company also announced that its Board of Directors authorized an increase to the company's previously announced $500 million share repurchase program, bringing the authorization to $1 billion. This $1 billion authorization is on top of the $2 billion repurchase program HD initiated and completed last year. This should translate into higher sales going forward. Analysts believe this action is just another vote of confidence in their company and prospects. This confidence has led three of the top brokerage firms to recommend HD as a Core Holding. The company also recently relaunched it's site. The new site, with an expanded "know-how" section, improved

functionality and enhanced online capabilities, is designed to educate and empower customers by creating a distinctive, knowledge-based experience. As more and more consumers hit the web, HD looks to capture this growing segment and further evolve into a customer-focused company. This should translate into higher sales going forward. And as investors well know, higher sales at lower costs translates into higher profits and rising stock prices.

Medtronic, Incorporated (NYSE:MDT) is a medical device company that manufactures products instrumental in the treatment of heart failure, coronary and peripheral vascular disease, and other heart related disorders. Demonstrating the strength of its broad product portfolio, MDT announced strong quarterly revenues of $2.064 billion, up +20.4% over the $1.714 billion of the comparable period a year ago. The company announced first quarter net earnings of $450.4 million, or 37 cents per diluted share, an increase in net earnings of +17.5% over the $383.3 million in net earnings and +19.4% above the 31 cents per diluted share recorded in the comparable period last year. The company also approved a cash dividend of $0.0725 per common share of the company's stock. The dividend is payable on October 24, 2003, to shareholders of record at the close of business on October 3, 2003. Strong financials and a strong pipeline have three top brokerage firms listing MDT on their Focus Lists.

Microsoft Corporation (NASDAQ:MSFT) is the world's largest software company that is involved in many aspects of the technology landscape. The world will be waiting as Microsoft will be reporting its first quarter of fiscal year 2004 earnings on October 23th, after the market closes. The market's rally has been largely on the positive economic and corporate news that has been released recently. Throughout the quarter, MSFT has been questioned about security and whether the nation is at risk given the company's foothold on the industry. Microsoft has responded at its inaugural Worldwide Partner Conference, outlining new initiatives in the company's ongoing security efforts designed to address the increasing threats faced by computer users around the world. The company stated that its goals are simply to get their customers secure and keep them secure. Given its unparalleled share in its industry and ability to continue releasing revolutionary products, 40% of the top brokerage houses have MSFT as a Core Recommendation for long-term investors.

To discover all the other profitable stock portfolios at Zacks.com then follow this link http://www.stockportfoliosbw.zacks.com

About Zacks Brokerage Buy List

Zacks has developed many successful ways for individual investors to profit from the stock picking prowess of Wall Street professionals. The Brokerage Buy List is yet another powerful tool that investors can wield in order to improve their investment results. This portfolio is comprised of the core stocks recommended by at least 3 of the Top 15 brokerage firms. These are the kind of large cap stocks that are best for long term investors. In 2003 this portfolio has gained +13% outpacing the +9.4% rise of S&P 500. To learn more about the Brokerage Buy List then visit http://www.buylist2bw.zacks.com

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