Once again, we are charting the biggest upward movers in the Zacks Rank. The Zacks Rank is a short-term stock rating system that has generated a 32% annual return since 1988. Here, we not only look at those companies with a Zacks Rank of 1, but also those companies that have moved up significantly today:
When cosmetics giant Revlon, Inc. (REV) posted its nearly 78% positive EPS surprise last Tuesday, it was a year-over-year increase of close to 92% in reported earnings. Today, the Zacks Rank for Revlon moves from a #3 (Hold) to a #1 (Strong Buy). The stock price decreased 3.42% from the pre-announcement price of $1.17 on 11/05/07 compared to the last closing price of $1.13 on 11/09/07, and the Zacks Price Response Indicator (PRI) expects a 2.91% price increase in the 10 days following the EPS earnings report. However, the share price is down a couple pennies in mid-day trading today.
Revlon, Inc. conducts its business exclusively through its subsidiary, Revlon Consumer Products Corp. and its subsidiaries. They manufacture, market and sell an extensive array of cosmetics and skin care, fragrances and personal care products.
Brazil's third-largest private bank, Sao Paolo-based Unibanco (UBB) also sees its Zacks Rank rise today from a #3 (Hold) to a #1 (Strong Buy), after last Thursday's third quarter earnings report cited a 17.8% increase in profits. The 12 month target price taken from five brokers is $140.00, but the stock is down a third of a percent thus far today.
According to Zacks senior equities analyst Ann Heffron, CFA, Uniao de Bancos Brasileiros S.A., or Unibanco offers a diverse array of products and services, including credit cards, commercial lending, investment banking, cash management, brokerage, mergers and acquisitions advisory, and mutual funds. Unibanco organizes its activities into four business segments: Retail Banking, Wholesale Banking, Insurance and Private Pension Plans, and Wealth Management. UBB is also a major player in credit cards with a 15% market share, offering credit cards through Unicard, Fininvest, and HiperCard.
Climbing off the mat of a Zacks Rank #5 (Strong Sell) up to a #3 (Hold) today is Harrah's Entertainment, Inc. (HET), following last week's earnings report where the company posted a minor EPS miss. Reported EPS of $1.00 was in comparison with 94 cents last year, for an increase of 6.38%. Also, reported EPS had been adjusted to exclude $0.16 after-tax gain & $0.13 gain from discontinued operations.
Harrah's the leading consumer marketing company in the gaming industry, and operates casinos in more markets than any other casino company. The company's marketing strategy is designed to appeal to those customers who are avid players, especially those who play in more than one market. The company's strategic direction is focused on establishing well-defined brand identities that communicate and deliver a consistent message of high quality and excellent service.
Worldwide investment and securities trading firm Bear Stearns (BSC) reported its August results nearly four weeks ago, but it too is rising in Zacks Rank, from a #5 (Strong Sell) to a #3 (Hold). When its earnings were posted on September 20, the company posted a negative earnings surprise of nearly 36%. Some reconsiderations from brokerage analysts have helpes boost BSC's ranking up out of the basement, and the shares are up a percentage point-and-a-quarter in Monday trading, as of mid-day.
