Zacks.com Announces That Bill Martin and Matt Ragas Highlight the Following Stocks: Horizon Offshore, Bank of America, FleetBoston, Overstock.com, 3Com, and EDS.Business Editors CHICAGO--(BUSINESS WIRE)--Dec. 4, 2003 Bill Martin and Matt Ragas show investors how to use market news to generate real profit. Read how these experts reacted to recent market stimuli through several pieces of stock information. Read about Horizon Offshore (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 :HOFF HOFF Hybrid Orbital Force Field ), Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE NYSE See: New York Stock Exchange :BAC BAC abbr. blood alcohol concentration ), FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. (NYSE:FBF FBF Forearm Blood Flow FBF Frankfurt Book Fair FBF Feedback Form FBF Frame by Frame (animation technique) FBF FleetBoston Financial Corporation (stock symbol) FBF Fundamental Baptist Fellowship ), Overstock.com (NASDAQ:OSTK), 3Com (NASDAQ:COMS COMS 3Com Corporation (stock symbol) COMS Certified Orientation and Mobility Specialist COMS Continuous Opacity Monitoring Systems COMS City of Manchester Stadium (UK) ), and Electronic Data Systems (NYSE:EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. ). Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84 Here are the highlights from the Featured Expert column: Don't look now
Don't Look Now is an Anglo-Italian thriller, directed by Nicolas Roeg and released in 1973. It is based on a short story by Daphne du Maurier. , but shares of struggling energy services firm Horizon Offshore (NASDAQ:HOFF) have been moving steadily higher lately. There's been no news on the tape since HOFF's Q3 results to explain the stock's recent move and Bill Martin and Matt Ragas haven't heard of any new sellside analyst comments out on the stock. Bill and Matt suspect some investors have bid up HOFF over the past few sessions in anticipation of HOFF's long awaited Pemex receivable settlement, which will significantly improve the firm's liquidity. It's very hard to gauge how much of the potential Pemex settlement or a new contract win announcement has already been "priced in" to this stock at this point. HOFF should regain profitability next year, but not likely until Q2 of 2004 in Bill and Matt's estimation. Bank of America (NYSE:BAC) Chief Executive Officer Ken Lewis says his company's recent deal to acquire FleetBoston Financial (NYSE:FBF) will position the company for growth and enable it to cut further costs. Bill and Matt are glad to see Lewis out there publicly defending the deal. Bill and Matt added to their FBF holding the day the deal was announced after investors beat up BAC's share price. They bought more FBF because they believe that BAC "is a tremendously well-run bank." One concern for BAC is whether FBF customers will make the transition to becoming BAC customers. While any merger of service providers causes churn to increase in the short-term, Bill and Matt don't think FBF customers will end up flocking to other banks, and FBF and BAC's branch "footprints" don't really overlap. On Tuesday, Bill and Matt sold 180 of the 540 shares of Overstock.com (NASDAQ:OSTK) that they own in the high risk, high return Babe Babe Paul Bunyan’s blue ox; straightens roads by pulling them. [Am. Lit.: Fisher, 270] See : Strength Ruth model portfolio. Why Sell 33% of Overstock.com? Since Bill and Matt's upbeat post on OSTK's Thanksgiving weekend sales news, shares of OSTK have moved up another 10%. It's hard for them to pass up this profit-taking opportunity. OSTK reported tremendous Thanksgiving weekend sales that were better than any company Bill and Matt follows in the retail sector. Although one weekend certainly doesn't make a holiday sales season, they thought this news was an extremely bullish datapoint. They felt it was best to book some gains - particularly with OSTK's track record of volatility and its previous profit margin challenges. Shares of 3Com (NASDAQ:COMS) moved higher Tuesday morning after the company announced a distribution deal with Electronic Data Systems (NYSE:EDS). This is a big deal for COMS, and it gives further credence to COMS' attempt to take on Cisco in the networking space. Bill and Matt would not be new buyers of COMS at current levels, however, they would hold the stock here if you previously bought it. Learn more about the above-mentioned companies and make sure to read Bill Martin and Matt Ragas' analysis on a daily basis by clicking: http://at.zacks.com/?id=85 About Zacks Featured Experts To be a successful investor you need professional advice. Experts who know what they're talking about and can help you achieve your financial goals in good markets...and especially in bad ones will help you improve your portfolio. That is why Zacks Investment Research Zacks Investment Research A firm that compiles earnings estimates and brokerage firm investment recommendations for thousands of publicly traded firms. has assembled the best investment experts in the business to offer their powerful advisory newsletters to you on all the major investment topics: Stocks, Mutual Funds, Bonds, Options, Futures etc. Recommendations from Featured Experts Highlighted in FREE Investment Newsletter The best way to tap into the powerful advice from these experts is through our free weekly e-mail newsletter, "Profit from the Pros". Each week we highlight several Featured Experts in this free e-mail See Internet e-mail service. newsletter. Get your free subscription to "Profit from the Pros" at: http://at.zacks.com/?id=86 About Zacks Zacks.com is a property of Zacks Investment Research, 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=87 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. 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion