Zacks Buy List Highlights: Ceradyne, Inc., Mylan Laboratories, Inc., Cognizant Technology Solutions Corp., and Goodrich Corporation.

CHICAGO -- Zacks.com releases another list of stocks that are currently members of the coveted Zacks #1 Rank (Strong Buy) List. The #1 Rank stocks highlighted today are Ceradyne, Inc. (NASDAQ:CRDN) and Mylan Laboratories, Inc. (NYSE:MYL). Further, Zacks announced #2 Rankings (Buy) on two other widely held stocks: Cognizant Technology Solutions Corp. (NASDAQ:CTSH) and Goodrich Corporation (NYSE:GR). To see the full Zacks #1 Rank (Strong Buy) List, or the rank for any other stock, visit: http://at.zacks.com/?id=88

Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of +33% since inception in 1988. During the 2000-2002 bear market, Zacks #1 Rank stocks gained 43.8% while the S&P 500 tumbled 37.6%.

Here is a synopsis of why CRDN and MYL have a Zacks Rank of 1. Note that a #1 Strong Buy rating is applied to only 5% of all the stocks Zacks ranks:

Ceradyne, Inc. (NASDAQ:CRDN) earnings estimates for the year ending December 2005 climbed 13 cents, or approximately 8%, over the past 60 trading days. In late July, the company reported second-quarter record earnings of 46 cents per share, beating the consensus estimate by about 21% and outpacing last year's result. Sales also reached a record total, which was $89.9 million. The sales result for last year's second quarter was $39.2 million.

Mylan Laboratories, Inc. (NYSE:MYL) posted fiscal first-quarter adjusted earnings of 26 cents per share in mid-July, exceeding the consensus estimate by approximately 8% and surpassing last year's 24 cents. Fiscal year 2006 earnings estimates of $1.01 per share are almost 11% above three months ago levels. The estimates are in line with MYL's reaffirmation of its fiscal 2006 earnings guidance of 92 cents to $1.15 per share.

Here is a synopsis of why CTSH and GR have a Zacks Rank of 2 (Buy). Note that a #2 Buy rating is applied to 15% of all the stocks ranked by Zacks:

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) earnings estimates for the year ending December 2005 moved up two cents, or 2%, from two months ago. In late July, the company announced second-quarter earnings of 25 cents per share, improving on last year's 17 cents and surpassing the consensus estimate by almost 9%. The company said its second quarter performance was driven by growing demand for its deep industry knowledge and expertise across its entire range of verticals, including financial services, retail and manufacturing, telecommunications, and healthcare.

Goodrich Corporation (NYSE:GR) released its second-quarter earnings report in late July, which announced a full year 2005 increase in earnings guidance. The company cited its strong first half performance and the improving demand for its products as reasons for the improved forecast. Over the past three months, analysts revised 2005 earnings estimates upward by 16 cents, or approximately 8%. GR's earnings per share for the second quarter were ahead of the consensus estimate by about 4% and outpaced the year prior result.

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About the Zacks Rank

For over 16 years, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank stocks have generated an average annual return of +33%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained 43.8%, while the S&P 500 tumbled 37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have underperformed the S&P 500 by 143.5% annually (+4.9% vs. +12%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

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