Updates to Previous Momentum Zacks Rank Buy Stocks
Diana Shipping Inc. (DSX), announced the
purchase of a dry bulk carrier for $110 million on Mar 6. The company also entered into a
time charter contract with Cargill International SA for the carrier. The contract is
expected to deliver gross revenues of $37 million for the first 2 years and $32 million for
years 3 and 4. After retreating from a new 52-week high on Feb 26, DSX has found support in
the 21-day moving average. Look for a close above recent highs to confirm the underlying
trend.
Read our Jan 27 analysis.
Mattel Inc. (MAT) was upgraded by Matrix
Research from a Hold to a Buy on Mar 5. Since we last covered MAT on Feb 28, the stock has
returned 4.0% and is up 21% for the year. In fact, on Mar 8 MAT broke through technical
resistance and closed at a record high. Three consecutive positive earnings surprises are
reinforcing the upward trend.
Read our Jan 17 analysis.
Sun Microsystems Inc. (SUNW) was upgraded by
Goldman Sachs on Feb 28 from Neutral to Buy. Since the upgrade, the stock has reversed its
recent slide and appears to resume the upward trend that began in late July. Two consecutive
earnings surprises and the recent upgrade should support the recent reversal and keep the
stock above old resistance; however, significant moves below the 50-day moving average
should be watched closely.
Read our Jan 26 analysis.
Last Week?s Momentum Zacks Rank Buy Stocks
Anixter International Inc. (AXE) is beating
the market by 14.3% and the best may be yet to come. The Zacks #1 Rank stock has
consistently delivered positive quarterly earnings surprises and the company has reaffirmed
its ability to generate solid sales growth in the face of fluctuating commodity prices.
Read our Mar 9 analysis.
Belden CDT Inc. (BDC) has returned 135% since
it was first featured as a Zacks Momentum Stock of the Day on Jun 6, 2006. The stock is
currently up 26.0% for 2007 and set a new six-and-one-half year high on strong volume last
Tuesday. So long as BDC can continue to increase earnings, the stock should continue to move
higher.
Read our Mar 8 analysis.
CDI Corporation (CDI) reported earnings of 30
cents-per-share on Feb 27, an increase of 30.4% from last year and 11% above expectations.
With this report, CDI has met or exceeded analyst expectations for the last five quarters.
The stock has recovered from 2006 lows and is up 14.3% for the year. In fact, on Monday the
stock set a six-month high on heavy volume.
Read our Mar 7 analysis.
Cooper Tire & Rubber Company (CTB) reported
fourth quarter earnings at 33 cents per share, a 1,200% positive surprise above analysts?
expectations. Also, net sales increased 29% to a new quarterly record. On the chart there is
a clear example of a ?V? formation bottom, visual evidence of a dramatic turnaround in the
company?s fortunes.
Read our Mar 6 analysis.
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