Zacks Buy List Highlights: EGL, Inc., Norfolk Southern, Coventry Health Care, and Silicon Labs.Business Editors CHICAGO--(BUSINESS WIRE)--June 10, 2004 Zacks.com releases another list of stocks that are currently members of the 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. 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: EGL EGL Enterprise Generation Language (IBM) EGL European Gemological Laboratory EGL Elegant Gothic Lolita (Japanese fashion) EGL Energy Grade Line EGL Eagle Global Logistics, Inc. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :EAGL EAGL East Atlantic Gymnastics League (College Park, MD) ) and Norfolk Southern Corporation (NYSE NYSE See: New York Stock Exchange :NSC NSC abbr. National Security Council Noun 1. NSC - a committee in the executive branch of government that advises the president on foreign and military and national security; supervises the Central Intelligence Agency ). Further they announced #2 Rankings (Buy) on two other widely held stocks: Coventry Health Care Coventry Health Care, Inc. (Coventry) (NYSE: CVH) is a managed health care company in the United States. On February 8th of 2007 Coventry agreed to acquire Concentra's Workers Compensation Managed Care Services Businesses. External links
CVH Compound-valve-angle Hemispherical Combustion-chamber (Ford cylinder head design and family of engines) CVH Compound Valve Angle Hemispheral Combustion Chamber CVH continuous venous hemodialysis ) and Silicon Laboratories, Inc. (NASDAQ: SLAB). 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: EGL, Inc. (NASDAQ:EAGL) operates under the name EGL Eagle Global Logistics. EGL is a leading global transportation, supply chain management and information services See Information Systems. company dedicated to providing superior flexibility and fewer shipping restrictions on a price competitive basis. In early May, EGL posted diluted earnings of 13 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for its first quarter, which more than doubled the year-ago result of 6 cents while also topping the consensus by about +30%. The company also experienced a +21% increase in gross revenues and a +20% advance in net revenues. EGL went on to say that, as the economy continues to recover, its low cost domestic network is positioned to benefit from customers expediting product from overseas supplier directly to US distribution and retail centers. EGL has experienced a number of upward revisions from analysts of late, and its earnings estimates for the year ending December 2004 are above levels from two months ago by 5 cents, or approximately +6%. Looking forward, the company continues to focus on operating efficiencies and the deployment of its global freight forwarding, accounting and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. systems. Although there are certainly challenges in EGL's industry right now, the company appears to be in a good position for the future. Norfolk Southern Corporation (NYSE:NSC) is one of the nation's premier transportation companies. When reporting its first quarter results in late April, Norfolk Southern stated that the period's solid performance provided a strong foundation for the remainder of the year. Earnings estimates for the year ending December 2004 moved forward 18 cents over the past two months, accounting for a rise of +12%. In that quarter, the company earned 40 cents per share 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 , before accounting changes, which was more than +33% better than analysts' expectations. Norfolk Southern said it recorded the highest railway operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. in its history, and posted its best ever income from railway operations. With optimism for the industrial economy's health, Norfolk Southern appears to be picking up steam moving forward. 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: Coventry Health Care, Inc. (NYSE:CVH) is a managed health care company operating health plans, insurance companies, and provider networks. Late April saw Coventry Health Care report first quarter net earnings of 82 cents per share on operating revenues of $1.29 billion. That earnings result eclipsed the consensus by almost +4%, and marked the 16th consecutive quarter of earnings above Wall Street expectations, while revenues climbed +21% year-over-year. Membership in the quarter rose +14% from last year. Coventry Health Care said the strong results are driven by disciplined pricing, prudent risk selection and watching the pennies. The company has enjoyed several upward revisions from analysts, and earnings estimates for the year ending December 2004 advanced 29 cents, or approximately +9%, from levels achieved two months ago. Coventry Health Care said its innovative products, its low cost structure, and world-class customer service will provide ongoing opportunity for profitable growth, which is good news for shareholders. Silicon Laboratories, Inc. (NASDAQ:SLAB) is a leading designer of high-performance, analog-intensive mixed-signal integrated circuits A mixed-signal integrated circuit combines analog circuits with digital signal processing (DSP) circuits on a single semiconductor die. An integrated circuit that includes both analog and digital circuitry (but no DSP), like a 555 timer, is generally not considered a mixed-signal for a broad range of applications. Earnings estimates for this year, ending December 2004, improved by 10 cents, or about +7%, over the past two months. In late April, strong demand in many of the markets that Silicon Labs serves helped the company to a solid first quarter performance with adjusted diluted net income of 38 cents per share that exceeded the consensus by almost +12%. Also in the quarter, revenue reached a record $113.6 million, which was +78% better than last year, resulting from solid performances in both the broad-based mixed-signal and mobile handset businesses. The company expects continued strength across its product lines and further diversification of its customer base during the second quarter. Silicon Labs is taking advantage of improving conditions in its markets, so if it can continue putting together successful quarters, then its earnings estimates could trend even higher. To truly take advantage of the Zacks Rank, you need to first understand how it works. That's why we created the free special report; "Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions." Download your free copy now to prosper in the years to come. http://at.zacks.com/?id=89 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. For continuous coverage of Zacks #1 Ranked stocks, then get your free subscription to "Profit from the Pros" e-mail newsletter where we highlight #1 Ranked stocks poised to outperform the market. http://at.zacks.com/?id=90 The Zacks Rank, and all of its recommendations, is created by Zacks & Co., member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . Zacks.com displays the Zacks Rank with permission from Zacks & Co. on its web site for individual investors. 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 our work is the belief that investment experts, such as brokerage analysts and investment newsletter writers, have superior knowledge about how to invest successfully. Our goal is to unlock their profitable insights for our customers. And there is no better way to enjoy this investment success, than with a FREE subscription to "Profit from the Pros" weekly e-mail newsletter. For your free newsletter, visit http://at.zacks.com/?id=91 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 & Poor's. The S&P 500 includes the reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. 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 solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual to buy or sell any security. |
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