For Immediate Release
Chicago, IL – January 4, 2012 – Zacks Equity Research highlights
Lincoln Electric (LECO) as the Bull of the Day and
Avery Dennison (AVY) as the Bear of the Day. In
addition, Zacks Equity Research provides analysis on Viacom
Inc (VIA), Time Warner Inc (TWX) and
Sony Corporation (SNE).
Full analysis of all these stocks is available at
http://at.zacks.com/?id=2678.
Here is a synopsis of all five stocks:
Bull of the Day:
Lincoln Electric (LECO)
recently reported fiscal 2011 third quarter adjusted EPS of $0.66,
versus $0.39 in the year-earlier quarter. Total revenue increased
35.0% year over year to $702.0 million.
Lincoln Electric is pursuing a strategy to become more cost
competitive by building manufacturing facilities in the low-cost
bases of Eastern Europe, besides acquiring companies, which will
complement its operations. Lincoln Electric is also implementing
various cost-control measures.
Further, the demand for its products is on the rise, leading us
to believe that Lincoln Electric will post strong growth on the
heels of an economic recovery and investments in the emerging
markets. We reiterate our Outperform recommendation with a target
price of $46.00.
Bear of the Day:
Avery Dennison's (AVY) third quarter adjusted
EPS of $0.48 fell short of the Zacks Consensus Estimate of $0.59
and the $0.62 in the year-ago quarter. Avery Dennison has reduced
its fiscal 2011 EPS guidance to between $2.15 and $2.30 due to
apprehensions of continued weakness in volumes.
The Office and consumer products segment s volumes and sales
have shown continued weakness due to weak end market demand and
increased competition in the label category. Margins have been
affected due to increased investment in demand creation, consumer
promotions, and innovation, as well as lower volume.
Given lower volume expectations, higher tax rate and weak
results in two of its largest businesses -- Pressure-Sensitive
Materials and Retail Branding and Information Solutions -- we
downgrade our recommendation from Neutral to Underperform with a
target price of $26.00.
Latest Posts on the Zacks Analyst Blog:
Viacom Rides on Movie Success
Paramount Pictures Corporation, the film division of
Viacom Inc (VIA) ended 2011 with a whopping $5.17
billion worldwide box office collection and in the process nudged
aside Time Warner Inc’s (TWX) film division group
Warner Bros.
Warner Bros., had topped the North American box office chart
from 2007 to 2010. However, in 2011, Paramount Pictures
outperformed Warner Bros. for the top spot.
Paramount generated a record $1.96 billion from the North
American market, and the remaining $3.21 billion came from the
international box office. Paramount Picture’s success in the year
2011 is primarily credited to the movie "Transformers: Dark of the
Moon" that earned a massive $ 1.1 billion worldwide and was placed
in the second position in terms of box-office collections. Warner
Bros’ "Harry Potter and the Deathly Hallows: Part II" emerged as
the top grossing film of 2011 with a staggering $1.25 billion in
box office receipts.
Last year, Paramount released 16 movies globally, out of which
six movies did extremely well at the box office.
U.S. box office generated $9.9 billion in revenues in 2011, of
which Paramount holds a staggering 19.5% market share followed by
Warner Bros. 18.2% and Sony Corporation’s (SNE)
film division Sony Pictures with 12.6% market share.
Get the full analysis of all these stocks by going to
http://at.zacks.com/?id=2649.
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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AVERY DENNISON (AVY): Free Stock Analysis Report
LINCOLN ELECTRC (LECO): Free Stock Analysis Report
SONY CORP ADR (SNE): Free Stock Analysis Report
TIME WARNER INC (TWX): Free Stock Analysis Report
VIACOM INC-A (VIA): Free Stock Analysis Report
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