Zacks Brokerage Buy List: Automatic Data Processing, ConocoPhillips, General Electric and Wachovia Corporation.CHICAGO -- Today Zacks.com releases the names of four more stocks that are on their coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. 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 14 brokerage firms. These stocks are considered the best large-cap stocks to own for the long-term according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Wall Street's top players. Since January 2003, this portfolio has generated an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. double-digit return. Here are four stocks that are currently members of this prestigious list: Automatic Data Processing Same as data processing. , Inc. (NYSE NYSE See: New York Stock Exchange :ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. ), ConocoPhillips (NYSE:COP), General Electric (NYSE:GE) and Wachovia Corporation (NYSE:WB). View the entire list of stocks on the Brokerage Buy List at http://at.zacks.com/?id=139 Here are explanations as to why these stocks are on the Brokerage Buy List: Automatic Data Processing, Inc. (NYSE:ADP), which remains a recommendation with three of the leading brokerages, is scheduled to report its fiscal first quarter numbers on October 26. In late July, the company reported fiscal fourth quarter earnings per share of 44 cents on revenues of $2.3 billion. The earnings result matched the consensus and improved 22% on a year-over-year basis. Revenues advanced 10% from $2.1 billion in the fiscal fourth quarter of 2004. According to the company, the quarter capped off an excellent year that surpassed its expectations. ConocoPhillips (NYSE:COP) posted second quarter earnings from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $2.21 per share in late July on total revenues of $42.6 billion. The earnings results marked a significant improvement from last year's $1.44 and bettered the consensus by more than 13%. Meanwhile, revenues advanced from $31.9 billion a year ago. ConocoPhillips stated that its operating performance, combined with above-average crude oil and natural gas prices and strong refining margins, contributed to strong earnings and cash flows. The company will report its third quarter numbers in late October. ConocoPhillips remains one of the best large-cap stocks to own for the long-term with three of the top brokerage firms. As for the future, the company expects stronger oil and gas production in the second half, with full-year production about 3% higher than 2004, excluding the impacts of LUKOIL. General Electric (NYSE:GE) announced yesterday that its GE Healthcare GE Healthcare is a $18 billion (USD) unit of General Electric (GE). It employs more than 46,000 people worldwide and is headquartered in Chalfont St. Giles, Buckinghamshire, United Kingdom. GE Healthcare is the first GE business segment headquartered outside the United States. unit reached an agreement to acquire IDX Systems IDX Systems Corporation (IDX) was a healthcare software technology company that formerly had headquarters in South Burlington, Vermont. It was founded in 1969 by Robert Hoehl, Richard Tarrant, and Paul Egerman. Corporation, a leading healthcare information technology provider. IDX (IDX Systems Corporation, South Burlington, VT, www.idx.com) One of the largest health care information systems companies in the country, acquired in 2006 by GE Healthcare (www.gehealthcare.com), a unit of the General Electric Company. shareholders will receive $44 per share payable in cash in the merger, for a total consideration of about $1.2 billion, net of IDX cash and equivalents. The combination will create a leading healthcare IT vendor. General Electric will report its third quarter numbers in October. For its second quarter, the company posted earnings per share of 44 cents, matching the consensus and easily exceeding the year-earlier performance. In addition, revenues advanced 13% to $41.6 billion with organic growth at 8%. GE said its improved business fundamentals business fundamentals The general background within which an economy operates including earnings, sales, wage rates, taxes, and inflation. Improving business fundamentals are generally viewed as bullish for stocks, although stock prices at any given point and solid execution led to all of its businesses delivering at least double-digit earnings growth for the second quarter. Wachovia Corporation (NYSE:WB) entered into an agreement to acquire the international correspondent banking Correspondent banking is an account that is established by a domestic banking institution on behalf of a foreign bank for the purpose of handling various financial transactions related to the foreign bank. Correspondent banking allows foreign banks to conduct business in the U.S. business of Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. , N.A., which is wholly owned by UnionBanCal. Wachovia will integrate Union Bank's sizeable international correspondent franchise, which includes 600 bank relationships, the payment and trade processing activity that drives these relationships, and the related loan book in an amount up to $2 billion. Wachovia said the combination was "near-perfect." Wachovia will report third quarter results on October 17. For its second quarter, the company reported second quarter earnings per share of $1.07, excluding items, which bettered the year-ago result of 98 cents. The result also topped the consensus by almost 2%. Revenue increased 16% from the second quarter 2004, largely reflecting the acquisitions of SouthTrust Corporation and the Palmer & Cay, Inc. insurance brokerage firm. The company is considered one of the best large-cap stocks to own for the long-term by three brokerages. To discover all the other profitable stock portfolios at Zacks.com, use this link: http://at.zacks.com/?id=140 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 three of the Top 14 brokerage firms. These are the kind of large cap stocks that are best for long- term investors. Since January 2003, this portfolio has generated an annualized double-digit return. To learn more about the Brokerage Buy List, go to http://at.zacks.com/?id=141 About Zacks Zacks.com is a property of Zacks Investment Research Zacks Investment Research A firm that compiles earnings estimates and brokerage firm investment recommendations for thousands of publicly traded firms. , Inc., which was formed in 1978 to compile, analyze, and distribute investment research to both institutional and individual investors. The guiding principle behind Zacks work is the belief that investment experts, such as brokerage analysts and investment newsletter writers, have superior knowledge about how to invest successfully. The goal is to unlock these pros' profitable insights for individual investors hard-pressed to find this valuable information in one source. A free subscription to "Profit from the Pros" weekly e-mail newsletter provides the best way to use these experts' insights for more profitable investing. Register for a free subscription to the Profit from the Pros newsletter at http://at.zacks.com/?id=142 Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. (a) The S&P 500 Index ("S&P 500") is a well-known, unmanaged index of the prices of 500 large-company common stocks selected by Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index . The S&P 500 includes the reinvestment of all dividends, no transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , and represents the gross returns before management fees. 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. |
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