For Immediate Release
Chicago, IL – April 5, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Goodyear Tire (GT), Metabolix (MBLX), Spartech (SEH), Perry Ellis (PERY) and Phillips Van Heusen (PVH).
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Here are highlights from Thursday’s Analyst Blog:
ISM Reaches 6-Year High
Overall this was a very encouraging report. It shows that the manufacturing side of the economy is clearly on the mend, and the market should like these numbers. The overall index, the PMI, has been above the magic 50 mark now for 8 straight months, or since August. That is probably around the time that when they get around to it, that the NBER will officially declare that the recession ended.
The March reading is the highest since July 2004, and since 1968 the overall PMI index has been above this level in only 54 months, or 10.6% of the time. Clear evidence of an economy on the mend, at least on the manufacturing side, although manufacturing is a relatively small part of the overall economy.
The non-manufacturing index does not have as long a history as the manufacturing index, but covers a much bigger part of the economy. It is due out next week. In recent months it has also been above the 50 mark, but much lower than the manufacturing numbers.
For each of the sub-indexes, the ISM lists the industries that are doing well and the ones that are not doing so well. In reading over the report, one industry consistently shows up as being weak: Plastic and Rubber products. That is bad news for companies like Goodyear Tire (GT), Metabolix (MBLX) and Spartech (SEH). Incidentally, the Rubber and Plastics industries are among the very worst of the 255 industries we track on the basis of the Zacks Rank.
Conversely, the Apparel industry was consistently listed as among the strongest in the various sub-indexes. This means that things are looking up for the likes of Perry Ellis (PERY) and Phillips Van Heusen (PVH).
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