For Immediate Release
Chicago, IL – March 3, 2010 – Zacks Equity Research highlights Skyworks Solutions (SWKS) as the Bull of the Day and Tetra Tech (TTEK) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Bristol-Myers Squibb Co. (BMY), Abbott Laboratories (ABT) and Novartis (NVS).
Full analysis of all these stocks is available at http://at.zacks.com/?id=5506
Here is a synopsis of all five stocks:
Skyworks Solutions (SWKS) is well positioned to benefit from recent trends in the handset market, which are favorable for increasing dollar content for RF components.
There is a significant growth opportunity in the handset markets propelled by the launch of 3G networks in China. The company has tie-ins with major OEMs that underscore its success in gaining market share. The company is also making good progress in the linear business with WLAN wins at Intel and Broadcom.
Results for the December quarter were better than expected, with earnings per share beating the Zacks Consensus Estimate. Management provided a strong forecast for the coming quarter. Our long-term recommendation for Skyworks is Outperform.
We are downgrading our recommendation on Tetra Tech (TTEK) from Neutral to Underperform with a $19 target price.
The company believes that back-end construction management services will weaken in the second quarter and remain soft in the remainder of FY2010, driven primarily by the commercial market downturn and the continued slow pace of stimulus spending.
Due to the forecasted reduction, the company has lowered revenue and earnings guidance for FY2010. The company, however, believes that it will have strong order bookings for front-end consulting and engineering services in FY2010.
Latest Posts on the Zacks Analyst Blog:
Good News for Bristol-Myers
Recently, Bristol-Myers Squibb Co. (BMY) announced that the advisory committee of the U.S. Food and Drug Administration (FDA) recommended approval for belatacept, the company’s candidate for treating patients undergoing kidney transplants.
The panel voted in favor of approving the drug despite mixed results compared to older therapies from Abbott Laboratories (ABT) and Novartis (NVS). The favorable recommendation was made primarily to provide physicians and patients with more treatment choices.
Thirteen of the 18 members of the advisory panel voted in favor of approving belatacept to prevent the rejection of a new kidney in transplant patients. Bristol-Myers is seeking FDA approval for the injectable drug to prevent organ rejection and maintain kidney function in patients suffering from end-stage renal disease.
The Biologics License Application (BLA) for belatacept was accepted by the U.S. regulatory authority for review in Sept 2009. The FDA is expected to decide on the fate of the candidate by May 1, 2010 (the target date). Although the regulatory authority is not bound to accept the recommendation of the advisory panel it does pay heed when reviewing new drug applications.
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.
About the Analyst Blog
Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous analyst 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.
Zacks “Profit from the Pros” e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=5508.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5509.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
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 to buy or sell any security.
Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com
