For Immediate Release
Chicago, IL – February 8, 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: Wal-Mart (WMT), J.C. Penney (JCP), Kroger (KR), Saks (SKS) and Big Lots (BIG).
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Here are highlights from Friday’s Analyst Blog:
Notes on Unemployment Duration
If you think you are going back to work soon, you will continue with many expenses. You don’t quit the country club (and forfeit the initiation fees) just because you are out of work for a few weeks — hey, you finally have a chance to play a few rounds! You don’t cancel little Julie’s ballet or little Johnny’s piano lessons just because you got a pink slip. However, as time wears on, the difference between the old paycheck and the unemployment benefits starts to add up. Also, your contacts start to get stale and your skills deteriorate.
When you go past 26 weeks, or six months, in normal times regular state unemployment benefits expire. During economic downturns, the Federal government will usually step in with extended benefits. Currently the number of people on extended, Federally paid, unemployment benefits far exceeds the number on regular state based benefits — 5.855 million to 4.602 million.
If it were not for the extended benefits, which are a major part of the ARRA, or Stimulus act, those people would be left with no income whatsoever, their savings would be completely depleted and their credit cards maxed out. With no income, they would not be able shop at the Salvation Army, let alone at Wal-Mart (WMT) or J.C. Penney’s (JCP). They would have to rely on the local food bank instead of getting their groceries at Kroger (KR).
While people on extended benefits will not be shopping at Saks (SKS), at least they can still go to Big Lots (BIG). Those retailers (and the companies that make and transport the goods) would then be forced to lay off even more people.
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Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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