The announcement that a tentative agreement has been reached by lawmakers for the $700 billion bailout plan lifted markets to a higher close with the Dow leaping 197 points to 11,022. Nasdaq surged 31 points to 2187.
Baird expects Thor Industries (NYSE: THO) to benefit from industry consolidation and the eventual recovery. Shares were upgraded to Neutral from Underperform.
Jefferies upgraded SPSS Inc. (NASDAQ: SPSS) to Buy from Hold on valuation and believes the company's cost cuts will be positive for EPS. The company's target was lowered to $28 from $29.
Banc of America upgraded shares of Entergy (NYSE: ETR) to Buy from Neutral on valuation and believes the company is unlikely to spin-off Enexus by year-end. They believe a spin-off in 2009 or no spin at all suggests a higher share price from current levels. The company's target was raised to $104 from $101.50.
AMN Healthcare (NYSE: AMN) was upgraded to hold from Sell at Citigroup.
With the stock market reaching new lows every single day, I thought it’d be interesting to run my trusty ol’ Ben Graham stock screener. Because this screener is primarily focused on finding undervalued companies – and with the market undervaluing companies left and right – I’m not surprised to see more results than usual.
Benjamin Graham [...]
"We see flowing profits from companies in the water sector involved with pipes, pumps, regulators and other equipment," notes Neil George.
In his industry-leading Personal Finance newsletter, the advisor offers a fascinating overview of three companies that help "utilities and other industries provide quality water service."
"Aging pipes are one of the most pressing challenges in the US and beyond. Studies show that in some municipalities, loss from leaky pipes accounts for as much as 10% of water consumption.
"Ameron International (NYSE: AMN) is a pipe manufacturer with operations on every continent. Earnings per share don't show smooth-line growth on a quarterly basis given the cyclical nature of construction. But it does show solid, year-over-year growth.
"There's some price volatility as investors are jarred with increasingly pessimistic domestic construction outlooks, but overseas earnings will continue to bolster the balance sheet.
"Watts Water Technologies (NYSE: WTS) manufactures pumps, valves and controls for a broad array of both consumer and industrial applications.
"Used to control the pressure and direction of water moving through piping and other systems, as well the volume, you'll find Watts products installed in homes and municipal water systems, as well as factories and commercial buildings.
"The multiple applications for Watts' products also make the company resistant to the economic downturn, given the broad exposure to both consumer and governmental markets. It also positions the company to benefit from any future rebound in residential construction.
"Corrosion and failure are rampant problems in the global water delivery system, giving rise to enormous opportunities for companies able to combat contamination.
"Nalco Holdings (NYSE: NLC) offers a line of chemical treatments and related service products that keep older water systems safe and operating.
"Revenues are climbing at double-digit rates, in its water business as well as its energy-related and chemical industry businesses."
Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
"We see flowing profits from companies in the water sector involved with pipes, pumps, regulators and other equipment," notes Neil George.
In his industry-leading Personal Finance newsletter, the advisor offers a fascinating overview of three companies that help "utilities and other industries provide quality water service."
"Aging pipes are one of the most pressing challenges in the US and beyond. Studies show that in some municipalities, loss from leaky pipes accounts for as much as 10% of water consumption.
"Ameron International (NYSE: AMN) is a pipe manufacturer with operations on every continent. Earnings per share don't show smooth-line growth on a quarterly basis given the cyclical nature of construction. But it does show solid, year-over-year growth.
"There's some price volatility as investors are jarred with increasingly pessimistic domestic construction outlooks, but overseas earnings will continue to bolster the balance sheet.
"Watts Water Technologies (NYSE: WTS) manufactures pumps, valves and controls for a broad array of both consumer and industrial applications.