CORRECTING and REPLACING Zacks Sell List Highlights: Timken Co., City National Corp., Wabco Holdings and NiSource

Fifth graph, second sentence of release should read: The bank holding company also slashed its quarterly dividend to 25 cents per share, down from 48 cents (sted The bank holding company also slashed its quarterly dividend to 1 cent per share, down from 48 cents).

The corrected release reads:

ZACKS SELL LIST HIGHLIGHTS: TIMKEN CO., CITY NATIONAL CORP., WABCO HOLDINGS AND NISOURCE

Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Timken Co. (NYSE: TKR) and City National Corp. (NYSE: CYN). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Wabco Holdings Inc. (NYSE: WBC) and NiSource Inc. (NYSE: NI). To see the full Zacks #5 Rank List - Stocks to Sell Now visit: http://at.zacks.com/?id=92

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List — Stocks to Sell Now by 80% annually (+2% versus +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why TKR and CYN have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:

Timken Co. (NYSE: TKR) swung to a fourth-quarter loss and warned of continued weakness in most end markets through fiscal 2009. The company’s quarterly net loss of $36.2 million, or 38 cents a share, compares with a prior-year profit of $48.3 million, or 50 cents. Excluding items, Timken’s EPS of 7 cents fell far short of the consensus estimate. For 2009, the maker of specialty steel forecast earnings of $1.30 to $1.60 per share, leading analysts to adjust their estimate by 67 cents.

City National Corp. (NYSE: CYN) posted quarterly profit that fell far short of expectations as provisions for loan losses doubled and net interest income fell. The bank holding company also slashed its quarterly dividend to 25 cents per share, down from 48 cents. In the latest fourth quarter, net income fell 86% to $6.5 million, or 13 cents per share. Excluding items, City National earned 50 cents per share while analysts were looking for 62 cents.

Here is a synopsis of why WBC and NI have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;

Wabco Holdings Inc. (NYSE: WBC) reported quarterly profit that missed analysts’ estimates as the global automobile markets weakened, and forecast a steep decline in 2009 sales. For the fourth quarter, the company’s earnings fell 61% to $21.2 million, or 33 cents a share. Excluding items, its profit of 62 cents per share was a penny shy of the consensus estimate. The average forecast for Wabco’s 2009 profit has dropped 92 cents to $1.03 per share in the last week.

NiSource’s (NYSE: NI) current-year estimate dropped 9 cents in the last week after the gas producer abandoned its prior guidance extending into 2010, citing economic uncertainty. The company now expects to earn between $1.00 and $1.10 per share in fiscal 2009, amid increased pension and interest expenses. NiSource also plans to cut capital spending by at least 20% to $800 million.

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About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have underperformed the S&P 500 by 80% annually (+2% versus +10%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

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