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: Crocs Inc. (Nasdaq: CROX), TC PipeLines, L.P. (Nasdaq: TCLP), Snap-on, Inc. (NYSE: SNA), Banco Santander Central Hispano, SA (NYSE: STD) and Medtronic, Inc. (NYSE: MDT).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579
Here are highlights from Wednesday’s Analyst Blog:
Crocs Still With Many Holes
Crocs Inc. (Nasdaq: CROX) reported terrible results for the third quarter, missing consensus estimates by a wide margin. Management also reduced its guidance for the fourth quarter.
Accordingly, we are reducing estimates for 2008 and 2009. Our 2008 EPS estimate goes from $0.10 to -$0.52, and our 2009 EPS estimate goes from $0.09 to -$1.01. The difficult macro environment is negatively affecting all consumer discretionary names, and Crocs is no exception.
TC PipeLines Keeps It Coming
Calgary, Alberta-based TC PipeLines, L.P. (Nasdaq: TCLP) is a master limited partnership (MLP), with interests in three pipeline systems: the Northern Border Pipeline Company (NBPL), the Tuscarora Gas Transmission Company, and the recently acquired Great Lakes Gas Transmission, L.P.
Our continued positive view of TCLP units reflects the partnership's strong distribution-growth prospects, attractive valuation and stable financial and liquidity profile. We continue to like the partnership for its steady cash-flow generating pipeline assets that continue to provide it with the stability and financial capacity to deliver cash distributions in a disciplined manner.
Snap-on a Sturdy Value
Snap-on, Inc. (NYSE: SNA) is a global provider of professional tools, equipment, and related solutions for technicians, vehicle service centers, original equipment manufacturers (OEMs), and other industrial users. Products include a broad range of professional hand and power tools; tool storage; vehicle diagnostics and service equipment; business management systems; equipment repair services; and other tool and equipment solutions.
Snap-on has reported upside earnings surprises for eleven consecutive quarters, which has caught the attention of earnings momentum investors. Management has successfully delivered more predictable and consistent financial performance through the implementation of the "Driven to Deliver" and "Rapid Continuous Improvement" programs.
Santander Cut from Buy to Sell
We are cutting our rating on Banco Santander Central Hispano, S.A. (NYSE: STD) to Sell from Buy following the recent surprise announcement of a rights offering. On November 10, 2008, Santander stated that they would be issuing 1.599 billion new shares through a rights offering at a price of 4.50 per share for a total capital increase of 7.2 billion.
As a result, we are reducing our EPADS estimates $2.03 from $2.05 for 2008 and to $1.79 from $2.25 for 2009. The share increase combined with deteriorating economic conditions in Spain and appreciation of the US$ against the will likely depress Santander's share price over the near term.
Medtronic Better in Long Term
Medtronic, Inc. (NYSE: MDT) is one of the world's leading medical technology companies, specializing in implantable and interventional therapy devices and products. Founded in 1949, the company is based in Minneapolis, MN and has approximately 38,000 employees.
Medtronic is a market leader in cardiology and spine devices that benefits from scale, resources and incremental sales synergies within the medical devices industry. A deep product pipeline and strong R&D program leaves MDT well positioned for long-term organic growth, not relying purely upon acquisitions.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=2649.
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 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: http://at.zacks.com/?id=2677
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=4580.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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.
Contacts:
Mark Vickery
Web Content Editor
312-265-9380
Visit:
www.zacks.com
