Mark Vickery

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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: Wipro, Ltd. (NYSE:WIT), BOK Financial Corp. (Nasdaq:BOKF), CarMax Inc. (NYSE:KMX), Coca-Cola Hellenic Bottling Co. (NYSE:CCH) and Iron Mountain Inc. (NYSE:IRM).

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Here are highlights from Thursday's Analyst Blog:

Margins at Wipro Under Pressure

Wipro, Ltd. (NYSE: WIT) reported upside in revenues and earnings in 4Q08 which was well supported by large deal wins, geographic expansion, alliances and partnerships. We remain concerned that margins may continue to be pressured by strength of the rupee in the near-term.

However, the company has been able to maintain operating margins despite salary hikes to onsite employees. It has also provided improved revenue guidance for 1Q09 and integration of its acquisitions seems to be well on track. We are revising our adjusted estimates to reflect 25% revenue growth rate for 2009 in rupee terms and 24% in dollar terms. We continue to rate WIT a Hold.

Initiating BOK Financial a Hold

We are initiating coverage on the shares of BOK Financial Corp. (Nasdaq:BOKF) with a Hold recommendation. In recent years, the company has successfully expanded outside its home state of Oklahoma and broadened its non-interest income base, which represented more than 40% of revenues at year-end 2007.

Until recently, while credit quality measures had moved off its pristine levels over the past year, the metrics during 1Q08 could have been described as being better than its peers. However, considering the industry overhangs have yet to crest and the company's July 2, 2008 press release, we suspect results could be curtailed over the next year and a half.

Suspended '09 Guidance for KMX

CarMax Inc. (NYSE:KMX) continues to face a difficult used vehicle environment, largely due to aggressive incentives being offered by new vehicle manufacturers. The company missed expected earnings in the first quarter of fiscal 2009 due to a sluggish economy and rising gas prices. CarMax suspended its guidance for fiscal 2009. In addition, higher funding costs at CarMax Auto Finance is expected to affect margins in fiscal 2009.

However, the company is aggressively cutting prices on trucks and SUVs to reduce inventory and shifting its focus to passenger cars. The company's move into new markets and growth in existing markets are likely to strengthen volumes. Thus, we rate the stock a Hold at a six-month target price of $12.50.