Zacks Buy List Highlights: Arrow Electronics, Macrovision, Microchip Technology, and Priceline.com.

CHICAGO -- Zacks.com releases another list of stocks that are currently members of the coveted Zacks #1 Ranked list which has produced an average annual return of +34.2% since inception in 1988 and has gained +139.7% since January 2000 when the market was in the grips of the worst bear market in 60 years. Among the #1 ranked stocks today we highlight the following companies: Arrow Electronics, Inc. (NYSE:ARW) and Macrovision Corporation (NASDAQ:MVSN). Further they announced #2 Rankings (Buy) on two other widely held stocks: Microchip Technology, Inc. (NASDAQ:MCHP) and Priceline.com, Inc. (NASDAQ:PCLN). To see the full Zacks #1 Ranked list or the rank for any other stock then visit. http://at.zacks.com/?id=88

Here is a synopsis of why these stocks have a Zacks Rank of 1 (Strong Buy). Note that a #1 Strong Buy rating is applied to 5% of all the stocks we rank:

Arrow Electronics, Inc. (NYSE:ARW) is one of the world's largest distributors of electronic components and computer products to industrial and commercial customers. Earnings estimates for the year ending December 2004 remain above levels from two months ago by 52 cents, or approximately +37%. In late April, the company posted its 19th consecutive quarter of earnings that either met or exceeded Wall Street expectations. The 44-cent per diluted share result, which excludes items, topped the consensus at the time by almost +63% while also easily exceeding the 10 cents earned in the year-ago quarter. Arrow Electronics said the quarter was very strong with exceptional year-over-year sales growth of more than +40% in its components businesses in North America and Asia/Pacific, and in its North American computer products business. Given its solid earnings performance, investors may want to take aim and consider a place in their portfolios for this company.

Macrovision Corporation (NASDAQ:MVSN) designs, develops and licenses copy protection and rights management technologies. Macrovision announced a strong first quarter performance in early May, which has helped earnings estimates for the year ending December 2004 remain above levels from two months ago by 8 cents, or about +10%. The company reported pro forma diluted earnings of 22 cents per share that beat the consensus and year-ago result by more than +57% and +29% respectively. Revenues advanced +35% thanks to strong DVD copy protection revenues, and increased momentum in its enterprise software business. Macrovision stated the quarter was important for several reasons, including the renewal of a multi-year copy protection contract with Twentieth Century Fox Home Entertainment and significant additions to the customer base in its enterprise software business. The company also raised its 2004 earnings guidance. Macrovision appears to have a lot going for it moving forward, so investors may want to take this company into consideration.

Here is a synopsis of why these stocks have a Zacks Rank of 2 (Buy). Note that a #2 Buy rating is applied to 15% of all the stocks we rank:

Microchip Technology, Inc. (NASDAQ:MCHP) is a leading provider of microcontroller and analog semiconductors, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Microchip Technology isn't scheduled to report its fiscal first quarter numbers until July 20th, but late last month the company offered a glimpse behind the scenes. The company stated that strong available OEM backlog, strong sell-through in the distribution channel, and record bookings for the first two months of the quarter will cause the quarter's earnings and net sales to exceed its prior guidance. Microchip Technology now expects earnings per share at about 26 cents on net sales between $210 million and $212 million, compared to its previous expectations of 25 cents and a range of $205 million to $207 million. Late April saw the company report fiscal fourth quarter earnings per share that topped the consensus at the time by approximately +10%. Earnings estimates for the year ending March 2005 are up 17 cents, or about +18%, over the past two months, including a rise of 4 cents, or about +4%, in the past 30 trading days. The company went on to say it's experiencing strong demand on all major product lines and in all geographies, which is good news for shareholders.

Priceline.com, Inc. (NASDAQ:PCLN) has pioneered a unique e-commerce pricing system known as a demand collection system that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. In early May, Priceline.com reported first quarter net income applicable to common stockholders of 11 cents per share, which beat the consensus at the time by more than +22%. The company also announced revenue at $224.1 million, marking a +12% advance year-over-year. Priceline.com attributed its first quarter growth to its expanding travel product lineup, which gives consumers more choices than before, and a new TV ad campaign. Earnings estimates for this year, ending December 2004, are up 5 cents, or about +6%, from levels achieved two months ago. If the company's momentum can continue, then earnings estimates for Priceline.com could be poised to move higher.

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About the Zacks Rank

For over 15 years the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988 the #1 Ranked stocks have generated an average annual return of +34.2% compared to the (a)S&P 500 return of only +12.0%. Plus this exclusive stock list has generated total gains of +139.7% since January 2000 as the market suffered its worst downturn in 60 years. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). And since 1988 the S&P 500 has outperformed the Zacks #5 Ranked Strong Sells by 96.9% annually (12.0% vs. 6.1% respectively). Thus, the Zacks Rank system can truly be used to effectively manage the trading in your portfolio.

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