For Immediate Release

Chicago, IL – August 10, 2009 – Zacks Equity Research highlights 3M Company (MMM) as the Bull of the Day and Genzyme Corp. (GENZ) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Biogen Idec (BIIB), Elan Corp. (ELN) and Johnson & Johnson (JNJ).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2676

Here is a synopsis of all five stocks:

Bull of the Day:

We are initiating coverage on 3M Company (MMM) with an Outperform rating and $80 target price. The company’s second-quarter results benefited from the recovery in short development cycle businesses such as consumer electronics.

The company is aggressively managing its cost structure with a gradual improvement in gross margin. Meaningful uptake has yet to be seen from most major demand industries like automotive, manufacturing, general industrial and housing.

Bear of the Day:

Genzyme Corp. (GENZ) has been under significant pressure following the shutdown of its Allston manufacturing facility in June 2009. The shutdown is a major setback for the company as three drugs including key product Cerezyme were being manufactured at the facility.

Although Genzyme has resumed production, new lots will not be available for commercial supply until later this year. We believe the impact of this shutdown will affect the company’s performance in the second half of the year. In fact, Genzyme recently slashed its outlook for 2009.

Supply constraints, manufacturing issues, and delays in new product launches will continue to weigh on the shares in the coming quarters. We would avoid the name.

Latest Posts on the Zacks Analyst Blog:

Elan Sues Biogen

Biogen Idec (BIIB) and Elan Corp. (ELN), co-developers of multiple sclerosis drug Tysabri, are now locked in a settlement suit. Elan recently sued Biogen claiming that the latter was trying to jeopardize its recent $1.5 billion deal with Johnson & Johnson (JNJ).

Biogen and Elan have a 50-50 partnership deal for Tysabri under which each has rights to acquire full control of the drug, if there is any ownership change at either company. Even though neither of the two companies is authorized to sell this right to a third party without the other’s consent, Biogen claims Elan has done this in its deal with J&J.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=5507.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

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