3M Company (MMM) - boosted its full-year 2006 revenue and earnings guidance

3M Company (MMM) recently boosted its full-year 2006 revenue and earnings guidance. The company increased revenues, expanded gross margins and grew profits for the past four years. MMM's earnings per share are projected to grow 10.6% over the next 3-5 years. The Board of Directors approved a share repurchase plan and increased its dividend in mid-February. The company is currently yielding 2.1% and has a five-year average dividend yield of 2.0%. Full Analysis 3M Company is a diversified technology company that operates in six business segments: consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. MMM met or exceeded analysts' earnings estimates in six consecutive quarters. Earnings per share grew 15.9% over the past five years and are projected to grow 10.6% over the next 3-5 years. On Apr 21, 2006, MMM beat the Street's earnings estimate by two cents when it reported first-quarter 2006 profits of $1.17 per share. When compared to its prior-year period, the company's EPS increased by 13.6%. Revenues totaled $5.6 billion, versus $5.2 billion in the first quarter of 2005. The company increased revenues, expanded gross margins and grew profits for the past four years. MMM expects continued strong sales and earnings growth through the rest of 2006. As a result, the company raised its 2006 revenue growth guidance to between 5.5% and 8%, up from its previous expectation of 4% to 7%. Full-year 2005 revenues amounted to $21.2 billion. Furthermore, MMM also boosted its full-year 2006 earnings estimate to between $4.55 and $4.65 per share, compared to its previous projection of between $4.45 and $4.60. Future growth will come primarily from building its core businesses and extending these businesses into new areas. The company also plans on growing adjacent businesses, making acquisitions and building sales overseas—primarily in Brazil, Russia, India, China and Poland. As far as innovation and technology, MMM will continue to issue new patents—targeting around 100,000 over the next five years. On Feb 13, 2006, the Board of Directors at MMM approved an annual share repurchase program of $2 billion between Feb 13, 2006 and Feb 28, 2007. The Board also announced a quarterly dividend of 46 cents per share. This represents a 9.5% increase over the quarterly dividend paid in 2005. This is the 48th consecutive year in which the company upped its dividend. MMM has a current dividend yield of 2.1% and a five-year average dividend yield of 2.0%. MMM's profitability, measured by its return on equity, crushes that of the industry. The company has a ROE of 33%, compared to the industry average of 17%. MMM is a Zacks #2 Rank (Buy) stock. Zacks #2 Rank stocks have generated an average annual return of 22.0% since 1988. Because the Zacks Rank has a market cap bias, Growth & Income investors may find a greater number of large-cap stocks by considering both Zacks #1 Rank (Strong Buy) and Zacks #2 Rank (Buy) stocks in their selection criteria. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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China Petroleum and Chemical Corporation (SNP) - Revenue growth 30.5% increase in the first quarter

China Petroleum and Chemical Corporation (SNP) is in a sweet spot given growth projections for the Chinese economy and its growing energy needs. Revenue growth has been brisk, as evidenced by the 30.5% increase in the first quarter over the same period last year. There is not much analyst coverage on the stock, but one did raise his numbers for 2006. Full Analysis China Petroleum and Chemical Corporation (SNP or Sinopec), with its head office in Beijing, China, is one of the largest petroleum and petrochemical companies in Asia. The company is the second largest crude oil and natural gas producer in China, and the largest refiner and marketer of refined petroleum products. The company is also the largest producer and distributor of petrochemicals in the nation. China Petrochemical Corporation (or the Sinopec Group), a state-owned enterprise, owns a 71.2% stake in Sinopec. Sinopec is an integrated oil and gas company engaged in the exploration and production of oil and natural gas, the refining and marketing of petroleum products, and the manufacture and sale of petrochemicals. While it has upstream, midstream, and downstream operations, its asset base and operations are geared more toward downstream activities. Sinopec's recent results have been fairly strong. In the upstream business, oil and gas production increased year over year as well as sequentially. The company also posted gains in refined-product volumes. In the retail marketing business, retail volumes increased approximately 8% sequentially and 24% year over year, driven by continued robust refined-product demand. The company's chemicals business continues to benefit from the country's strong economic growth, with ethylene and synthetic resin volumes increasing by approximately 35% from the year-earlier level. On April 28, Sinopec announced its financial results for the first quarter of 2006. The company's total operating revenue amounted to RMB 227.2 billion ($28.3 billion), an increase of 30.5% over the same period in 2005. Profits attributable to equity shareholders amounted to RMB 9.3 billion ($1.2 billion) and earnings per ADR were $1.33, a decrease of 3.62% over the same period in 2005. There is not much analyst coverage on the stock, but one did raise his numbers for 2006. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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Magellan Midstream Partners, L.P. (MMP) - recently raised its full-year 2006 earnings per share guidance

Magellan Midstream Partners, L.P. (MMP), a Zacks #1 Rank stock, topped the Street's earnings estimate in four out of the past five quarters by an average margin of 20.2%. The company recently raised its full-year 2006 earnings per share guidance. MMP increased revenues and grew profits for the past five years. The company has a price-to-book (P/B) multiple of 2.6 and a current dividend yield of 6.3%. Full Analysis Magellan Midstream Partners, L.P., formerly Williams Energy Partners L.P., is a limited partnership that owns, operates and acquires complementary energy assets. The company transports, stores and distributes refined petroleum products and ammonia in the United States. MMP exceeded analysts' earnings expectations in four out of the past five quarters by an average margin of 20.2%. Earnings per share grew 14.1% over the past five years. On Apr 28, 2006, MMP surprised to the upside by 19.6% when it posted first-quarter 2006 earnings of $48.3 million, or 55 cents per share. Analysts covering the stock were expecting 46 cents per share. Compared to the company's prior-year period, MMP's profits were a penny better. Revenues rose 8.1% to $279.3 million, compared to $258.3 million in the first quarter of 2005. The company increased revenues and grew profits for the past five years. Due to its strong first-quarter results, along with its optimistic outlook for the remainder of the year, MMP raised its full-year earnings per share outlook to $2.18. The company's previous forecast called for $2.03 per share. Analysts have grown increasingly optimistic about MMP's future as well. The consensus earnings estimate for 2006 currently resides at $2.17—6.9% higher when compared to the consensus of 30 days ago. Profit forecasts for 2007 call for $2.25 per share—an 8.2% increase versus what analysts were projecting a month earlier. Four analysts submitted upward revisions for this year and next year. On Apr 26, 2006, the company boosted its quarterly cash dividend by 2.3% to 56.5 cents per share. This marks MMP's 20th consecutive quarterly dividend increase. The company cited its generation of robust cash flows as enabling it to continue to pay out dividends. MMP has a very impressive current dividend yield of 6.3% and a five-year average dividend yield of 6.2%. MMP's return on equity is slightly higher when compared to the industry average—21% versus 20%. MMP recently announced its plan to invest almost $55 million in new capital projects to expand its petroleum products pipeline system and marine terminal business. The company has a price-to-book (P/B) multiple of 2.6. The market's P/B multiple, represented by the S&P 500, currently stands at 4.4. The stock trades at a valuation of 17.0x trailing 12-month earnings and at 16.1x its current fiscal-year estimated earnings. The market is trading at a valuation of 17.1x trailing 12-month earnings and at 16.0x its current fiscal-year estimated earnings. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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Dril-Quip, Inc. (DRQ) - report was a positive 47% surprise - matched or surpassed the consensus forecast for 12 consecutive quarters

Dril-Quip, Inc. (DRQ) continues to be a stock with good momentum. Background Dril-Quip, Inc. is a manufacturer of highly engineered offshore drilling and production equipment that is well suited for use in deepwater, harsh environment and severe service applications. They design and manufacture subsea equipment, surface equipment and offshore rig equipment for use by major integrated, large independent and foreign national oil and gas companies in offshore areas throughout the world. Their principal products consist of subsea and surface wellheads and production trees, mudline hanger systems, specialty connectors and associated pipe. Full Analysis DRQ reported earnings on May 3 for the Mar 2006 quarter at 87 cents, a 262% gain from last year's 24 cents. Analysts had expected the company to earn 59 cents, so the report was a positive 47% surprise. The company has now matched or surpassed the consensus forecast for 12 consecutive quarters. Sales for the quarter were up 40% to $98.2 million, while income was 302% higher than the same period last year at $17.3 million The company has now matched or surpassed the consensus forecast for 12 consecutive quarters. Technical Review After the earnings report, DRQ gapped upward into new 52-week ground and closed 1.4% higher for the day. Volume was at least twice the average. DRQ is now moving into its fourth year in an uptrend as the current move started on Mar 12, 2003. While there have been some pull-backs, DRQ's move has been one of generally increasing velocity. Stocks like DRQ can be difficult for the casual investor to buy. A quick glance at a chart indicates a stock trading at its highest level in more than six years, and in a long uptrend. The casual investor reasons that the stock is overvalued and likely to reverse, given the extent of the move. Momentum investors see a different picture. Here is a stock that for three years has led the market and is increasing the pace at which it is accelerating. The confirming factor for Momentum traders is the increasing volume on the stock's gains. Heavy volume means that the buyer at current levels has plenty of company, a comforting realization. DRQ continues to be a stock with good momentum. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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(HPC) - income rose 187% to $26.4 million

Hercules Incorporated (HPC) things are changing at HPC. Background Hercules Incorporated manufactures chemical specialties used in a variety of home, office and industrial products. The company is focused on sustaining long-term growth in shareholder value, driven by new product development, continuous improvement in manufacturing costs and responsive customer service. Its principal products are performance and process paper chemicals, water treatment chemicals, water-soluble polymers, food ingredients, resins and polypropylene and polyethylene fibers. Full Analysis HPC is a Zacks #1 Rank stock and reported earnings for the March 2006 quarter on Apr 26, 2006, at 24 cents per share, up 26% from last year's 19 cents. The report was in line with analysts' expectations. Sales were about even with a year ago at $527 million, versus last year's $539 million, but income rose 187% to $26.4 million. Technical Review There is an interesting technical picture developing at HPC. From Aug 2004 until Aug 2005, HPC traded in a very tight $15.55 to $13.00 trading range, but then broke out to the downside on Aug 17, 2005 when it closed at $12.70. Within a week, the stock was trading at $10, closing at $10.20 on Nov 3, 2005. Certainly a very weak looking stock considering a downside breakout of an established trading range and heavy upside resistance at $15 - $15.55. HPC then began an almost immediate reversal and has since climbed 60% to close at a five-year high on Tuesday at $15.90. In previous columns we've written about the importance of watching for breakout moves that fail. Clearly HPC's breakout to the downside failed, and rather dramatically. What happened? A look at the company's earnings calendar provides an answer. HPC delivered a disappointing earnings report on the morning of Nov 2, missing analysts' consensus by a significant 21%. By the following day, the stock ended its move to the downside, the bearish story now fully reflected in the stock price. This is a perfect illustration of one of the most important tools in the Momentum trader's toolbox, the stock that doesn't act as expected. Given the negative earnings report, and the negative technical picture at the time, HPC should have declined further. That it did not was an early warning that things were changing at HPC. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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(AGE) - beat estimates by 25.0% - profits increased 27.8%

A.G. Edwards, Inc. (AGE) topped the Street's estimate by 25.0% in the fourth quarter of fiscal 2006. The company increased revenues for the past three years and grew profits for the past four. AGE's earnings per share are projected to grow 10.0% over the next 3-5 years. This Zacks #1 Rank stock is currently yielding 1.6% and has a five-year average dividend yield of 1.7%. Full Analysis A.G. Edwards, Inc. provides securities and commodities brokerage, investment banking, trust, asset management, financial and retirement planning, insurance products and other related financial services to individual, corporate, governmental, municipal and institutional clients. AGE exceeded analysts' earnings estimates by an impressive 25.0% in the fourth quarter of fiscal 2006 when it posted profits of 95 cents per share. The company's earnings per share in the fourth quarter of fiscal 2005 were 67 cents. Net revenues amounted to $740.6 million, compared to $689.5 million in the prior-year period. For the entire 2006 fiscal year, AGE's profits increased 27.8% to $238.3 million. Net revenues jumped to $2.74 billion from $2.61 billion in fiscal 2005. Asset-management and service-fee revenues hit a new annual record, surpassing the $1 billion mark and increasing 16% versus fiscal 2005. The company cited that clients continue to migrate toward its fee-based programs and services, pushing fee revenues to 39% of its net revenues, compared to 24% five years ago. The company increased revenues for the past three years and grew profits for the past four. The consensus earnings estimates for this quarter and next increased 10.7% and 5.1%, respectively, over the past 90 days. The consensus earnings estimate for fiscal 2007 currently resides at $3.47. Compared to the consensus of three months ago, analysts have upped their profit forecasts by 8.4%. Four analysts submitted upward revisions for fiscal 2007. Earnings per share grew 7.2% over the past five years and are projected to grow by a larger margin going forward—10.0% over the next 3-5 years. On Feb 24, 2006, the Board of Directors at AGE announced a regular quarterly cash dividend of 20 cents per share, payable on Apr 3, 2006 to stockholders of record Mar10, 2006. The company has a current dividend yield of 1.6% and a five-year average dividend yield of 1.7%. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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(HIG) - has topped the Street's earnings estimate in 14 out of the past 15 quarters, most recently by 22.5%

The Hartford Financial Services Group, Inc. (HIG), a Zacks #1 Rank stock, has topped the Street's earnings estimate in 14 out of the past 15 quarters, most recently by 22.5%. The company raised its full-year 2006 earnings per share guidance back in late-April. HIG has a price-to-book (P/B) multiple of 1.8. The company has a return on equity of 16%, compared to the industry average of 13%. Full Analysis The Hartford Financial Services Group, Inc. is a diversified insurance and financial services company. HIG provides investment products, individual life, group life and group disability insurance products, and property and casualty insurance products in the United States. HIG has a history of exceeding analysts' earnings expectations, having done so in 14 out of the past 15 quarters. Earnings per share grew 21.8% over the past five years and are forecasted to grow 11.5% over the next 3-5 years. On Apr 27, 2006, HIG reported first-quarter 2006 profits of $797 million, or $2.56 per share. Compared with the first quarter of 2005, the company's earnings per share were 32.6% higher. The Street was calling for profits of $2.09 per share, thus, HIG surprised to the upside by an impressive 22.5%. In the company's life division, core earnings were $418 million, compared to $237 million in the first quarter of 2005. In the property-casualty division, core earnings were $421 million, compared to $386 million recorded in the corresponding prior-year quarter. Along with posting solid first-quarter results, HIG raised its full-year 2006 earnings per share guidance. The company now expects profits to be between $8.80 and $9.10 per share, compared to its previous guidance of $8.20 to $8.50 per share. HIG cited its product offerings and distribution expansion as the main reasons fueling its revised outlook. Analysts, in turn, have upped their estimates for the full years of 2006 and 2007. The consensus earnings estimate for 2006 currently sits at $9.11—8.1% higher when compared to the Street's estimate of 30 days ago. Profit forecasts for 2007 reside at $9.45—a 3.2% increase when compared to the consensus a month earlier. Two analysts submitted upward revisions for this year while five have adjusted their estimates in a positive direction for 2007. On Feb 16, 2006, the company increased its dividend by 33.3% to 40 cents per share from 30 cents per share. The company has a current and five-year average dividend yield of 1.8%. HIG has a return on equity of 16%, compared to the industry average of 13%. HIG, despite its optimistic outlook and impressive quarterly results, continues to trade at a discounted valuation. The company has a price-to-book (P/B) multiple of only 1.8. The market's P/B multiple, represented by the S&P 500, currently stands at 4.4. The stock trades at a valuation of 11.3x trailing 12-month earnings and at 9.9x its current fiscal-year estimated earnings. The market is trading at a valuation of 17.2x trailing 12-month earnings and at 16.0x its current fiscal-year estimated earnings. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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(BSTE) - Six different analysts have raised their numbers for 2006

Biosite, Inc. (BSTE) is enjoying growing sales and increasing margins. This has contributed to the company exceeding earnings estimates in six out of the past seven quarters. Six different analysts have raised their numbers for 2006, while five have done so for 2007. Over the past 30 days, this year's estimates have increased 8.5% to $2.29 per share. Full Analysis Biosite, Inc. (BSTE) is a leading manufacturer of diagnostic tests for a variety of diseases, various pathogens, drugs of abuse and cardiac monitors. BSTE's testing products are based on its Triage MeterPlus platform. This platform involves applying a blood or urine sample to a Triage panel assay device and placing the panel into the meter, which then detects and analyzes the presence of the disease biomarkers and displays the numerical results on an electronic read-out. Revenue from Triage meters is the licensing fee that BSTE charges for its proprietary patient data software system. The system can maintain patient testing information and can assist in uploading and downloading information. Within the next several quarters, BSTE intends to introduce new panels that incorporate a proprietary MultiMarker Index process, which analyzes information from all markers on the panel and presents a single representative value, the MultiMarker Index value. This index value can be more easily interpreted than multiple marker measurements. Hospitals form the company's primary customer base. BSTE also markets its products to physician office laboratories. The company continues to stay on course toward double-digit EPS growth as a result of growing product sales and improving margins. Despite a decelerating sales growth rate, BNP product sales continue to support a dominant market position. Greater manufacturing efficiencies and lower scrap from operational improvements and continued volume strength are supporting high gross margins. Operating margin is expected to stay in the high 20% range in 2006, as the company stringently controls its selling, general and administrative (SG&A) expenses. Due to a strong research and development (R&D) pipeline, analysts expect expanded opportunities for Biosite's growth. Growth over the longer term is supported by a number of promising projects in the area of acute coronary syndromes, acute kidney injury, sepsis, abdominal pain and colorectal cancer. Biosite recently began pre-clinical research in the field of acute kidney injury. Currently, no methodology exists to assess kidney injury. The company has exceeded earnings estimates in six out of the past seven quarters. Six different analysts have raised their numbers for 2006, while five have done so for 2007. Over the past 30 days, this year's estimates have increased 8.5% to $2.29 per share. The stock is currently trading at 22.7x next year's estimates of $2.46 per share, slightly above the company's 17.4% growth rate, giving the stock a PEG ratio of 1.30. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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Mothers Work (MWRK) - Earnings per share were a 550% surprise from the analysts' consensus

Mothers Work (MWRK), is expecting great things. Background Mothers Work is a specialty retailer and manufacturer of maternity clothing. They operate stores under the Mothers Work, MimiMaternity, A Pea in the Pod, Motherhood Maternity and Maternity Works concepts, offering a full range of career, casual and special occasion maternity wear. Full Analysis They're expecting great things at MWRK. After releasing results for the March 2006 quarter on April 25, the specialty retailer of maternity clothing raised guidance for the full year to between $1.05 and $1.25 from their previous estimate of 79 cents to $1.03. Earnings per share reached nine cents, a whopping 550% surprise from the analysts' consensus for a two-cent loss. The result also reversed a two-cent loss from the same quarter last year. That represented the seventh positive earnings surprise in the last eight quarters for MWRK. Technical Review MWRK had a long slide from its November 2002 high of $43 per share all the way down to $6.72 on Oct 13, 2005. By the time earnings for the September 2005 quarter came out on Nov 11, 2005, a bottom was pretty much in place. By January, the stock crossed the 200-day moving average convincingly to the upside and a sharp rally soon followed. The rally topped out at $26.21 on Mar 6, 2006 and the stock sold off to $20.12 on Apr 4. Yesterday the stock took off again, setting the highest prices seen since April 2004. After a sharp climb like MWRK experienced from November 2005 to March 2006, some pullback is normal and can be expected. It is the depth and performance of that pullback that can be a real measure of the underlying strength of a stock. Did it pull back to the start of the move? All things being equal, it should have. If it didn't was it able to equal the old highs? If so, the underlying move is strong and probably headed higher yet. Such is the case with MWRK. The pullback from the highs was only about a 23% pullback. And with yesterday's new highs, MWRK seems ready to move still higher. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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(PTSI) - topped the consensus earnings estimate in the past two quarters by an average margin of 54.1%

P.A.M. Transportation Services, Inc. (PTSI), a Zacks #1 Rank stock, topped the consensus earnings estimate in the past two quarters by an average margin of 54.1%. The company raised its full-year 2006 earnings per share guidance back in mid-April. As a result, analysts' estimates have increased. The company has a price-to-book (P/B) multiple of 1.7. Full Analysis P.A.M. Transportation Services, Inc. is a transportation holding company that transports general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The company also offers logistics services. PTSI crushed analysts' earnings expectations for the past two quarters by an average margin of 54.1%. Earnings per share are forecasted to grow 20.6% over the next 3-5 years. On Apr 25, 2006, PTSI announced financial results for the first quarter ended Mar 31, 2006. The company posted profits of $5.2 million, or 50 cents per share, compared to $2.9 million, or 26 cents per share in the first quarter of 2005. The Street was calling for only 32 cents per share, thus, the company surprised to the upside by an impressive 56.3%. Operating revenues excluding fuel surcharges increased 13.4% to $90.8 million, versus $80.1 million in the prior-year period. Including fuel surcharges, PTSI's revenues jumped 16.6% to $100.5 million. PTSI succeeded in increasing revenues for the past five years. PTSI, back in mid-April, increased its earnings per share estimate for the full year of 2006 to between $2.80 and $2.95. The company's previous guidance called for earnings between $2.65 and $2.80 per share. PTSI cited continued strong demand from industrial markets as the primary reason for its revised outlook. Analysts, in turn, have become increasingly optimistic about PTSI's future prospects. Profit forecasts for this quarter and next quarter increased 23.7% and 29.0%, respectively, over the past 30 days. The consensus earnings estimate for this year currently stands at $1.60. This marks an 8.8% increase when compared to the consensus of 30 days ago. Two analysts covering the stock submitted upward revisions for the full year of 2006. PTSI, despite its optimistic outlook and impressive quarterly results, continues to trade at a discounted valuation. The company has a price-to-book (P/B) multiple of only 1.7. The market's P/B multiple, represented by the S&P 500, currently stands at 4.4. The stock trades at a valuation of 16.7x its current fiscal-year estimated earnings. The market is trading at a valuation of 15.9x its current fiscal-year estimated earnings. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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UTStarcom, Inc. (UTSI) - exceeded earnings estimates for four consecutive quarters by an average margin of over 50%

UTStarcom, Inc. (UTSI) has exciting growth opportunities ahead of it. The company has exceeded earnings estimates for four consecutive quarters by an average margin of over 50%. One analyst has raised his numbers for the year. UTSI is still losing money, but estimates have been going in the right direction. Over the past 30 days, loss estimates have dropped from $1.64 per share to $1.60 per share for 2006. Full Analysis UTStarcom, Inc., (UTSI), is a leading supplier of wireless and wireline networking equipment. The company uses four technology platforms, including mSwitch (an Internet protocol-based switching solution); PAS (Personal Access Systems, which is a limited mobility wireless technology offering voice, data, and value-added services through handsets specially designed for the purpose); AN-2000 (a broadband access solution); and third generation (3G) technologies, which enable high-volume multimedia services. UTSI entered the cellular handset market with the recent purchase of Audiovox's cellular business. Furthermore, the company launched its Rollingstream product line for IPTV (television over the internet). UTStarcom's stronghold is the Chinese PAS market, where the company has a position in the market. Since PAS products offer lower functionality, companies are able to sell them at lower prices. The cheap handsets and reasonable usage charges make PAS products the ideal choice for cost conscious mobile phone users. Furthermore, it serves as an effective alternative to costly deployment of a wireline telephone infrastructure, especially in remote areas. Robust subscriber growth is increasing network utilization levels, which requires further spending on PAS infrastructure by the telephone companies in China. With China Telecom on the verge of deploying PAS in Shanghai, UTSI seems well positioned to win expansion opportunities. Other developing markets, such as Latin America and India, also provide attractive growth opportunities. The company is increasing its geographical diversity with the intention of reducing its dependence on China. UTStarcom is diversifying its product portfolio through acquisitions. The company recently added Audiovox's handset business, which, together with other purchases (TELCOS, Syscom) and partnership agreements (Qualcomm), gives it a foothold in the next generation code division multiple access (CDMA) market. The company has exceeded earnings estimates for four consecutive quarters by an average margin of over 50%. One analyst has raised his numbers for the year. UTSI is still losing money, but estimates have been going in the right direction. Over the past 30 days, loss estimates have dropped from $1.64 per share to $1.60 per share for 2006. The company's long-term growth rate is 24%. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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H.B. Fuller Company (FUL) - topped analysts' earnings estimates in five consecutive quarters

H.B. Fuller Company (FUL) topped analysts' earnings estimates in five consecutive quarters. The company recently reported impressive profits for the fiscal first quarter. Earnings per share are projected to grow 10.0% over the next 3-5 years. The company increased its full-year 2006 earnings per share guidance in late March. This Zacks #1 Rank stock is currently yielding 0.95% and has a five-year average dividend yield of 1.6%. Full Analysis H.B. Fuller Company manufactures and markets adhesives and specialty chemical products. The company has direct operations in 34 countries in North America, Latin America, Europe and Asia Pacific. Distributors and licensees increase FUL's presence to more than 100 countries. FUL not only exceeded analysts' earnings expectations in five straight quarters, it crushed them by an average margin of 51.3%. Earnings per share are forecasted to grow 10.0% over the next 3-5 years. FUL's profits in the first quarter of fiscal 2006 amounted to 54 cents per share. When compared to the Street's estimate for the quarter, FUL surprised by an eye-popping 145.5%. The company posted profits of 20 cents per share in the prior-year period. The jump in FUL's profitability was fueled by the company's repositioning of its sales to a more profitable mix of product offerings and increased productivity that led to decreases in both manufacturing and operating expenses. Due to its solid results in the fiscal first quarter, FUL raised its earnings per share guidance for the full year of 2006. The company now projects profits between $2.55 and $2.65 per share. FUL's previous outlook called for earnings per share between $2.06 and $2.11. Analysts responded by upping their estimates. The consensus earnings estimates for this quarter and next rose 27.8% and 8.6%, respectively, over the past 60 days. Profit forecasts for this year and next climbed 25.8% and 26.6%, respectively, over the past two months. Four analysts submitted upward revisions for this year, while two have done so for 2007. On Apr 6, 2006, the Board of Directors at FUL approved an increase in its quarterly dividend to 12.50 cents per share from 12.25 cents per share. This increase represents the 37th consecutive year in which the company boosted its dividend. FUL has a current dividend yield of 0.95% and a five-year average dividend yield of 1.6%. FUL increased revenues and expanded gross margins for the past three years. The company stands to benefit from its purchase of Henkel KGaA's insulating glass sealant business, announced on Mar 28, 2006. The deal is expected to close within three months from the time of the announcement. Henkel reported revenues of 11.97 billion euros in 2005. Henkel has a strong market presence in Europe and an expanding presence in Asia. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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DXP Enterprises (DXPE) - income grew 67%

DXP Enterprises (DXPE) experiences a dramatic turnaround. Background DXP Enterprises Inc. is a leading supplier of maintenance, repair and operating products, equipment and services to industrial customers. The company offers its customers a single source of supply on an efficient and competitive basis by being a first-tier distributor which purchases its products directly from the manufacturer. The company also provides value-added services such as system design, fabrication, installation, repair and maintenance for its customers. Full Analysis There was somewhat of a delayed reaction to DXPE's earnings announcement for the quarter ended March 2006. DXPE reported on Apr 26 that it earned 44 cents per share versus 15 cents last year. Sales grew by 37% to $62.5 million and income grew 67% to $2.5 million. The stock dropped nearly 6% on the day of the report but then rallied for consecutive 52-week highs on the next two trading sessions. Technical Review As mentioned, after an initial sell off after the earnings report, DXPE changed direction and finished last week strong, closing at a 52-week high. Then the stock exploded yesterday, spending most of the day up well over 15%. DXPE has been in an up-trend since bottoming out on Feb 16, 2006. Now, with a positive earnings report, it's obvious that the market is recognizing the power of DXPE's earnings revisions. Stocks that experience an immediate reaction to a news item, such as an earnings report usually don't tell traders very much. A trader might be puzzled why DXPE sold off after such a positive report, but assumed that the report was already built into the stock price. But it is when an immediate reaction fails and is reversed that alert traders pay very close attention. Dramatic failures of immediate moves can be very significant indications that the very short term has turned. Monday's extreme price action most certainly is a significant development and heralds a new move to the upside for the time being. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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United States Steel Corporation (X) - Board of Directors at X recently increased it cash dividend by 50%

United States Steel Corporation (X), a Zacks #1 Rank stock, has met or topped the consensus earnings estimate in nine of the past 10 quarters, most recently by 38.7%. Analysts' estimates have been on the rise. The Board of Directors at X recently increased it cash dividend by 50%. The company has a price-to-book (P/B) multiple of 2.5 and a return on equity of 19%. Full Analysis United States Steel Corporation produces integrated steel products in the United States and central Europe. The company also engages in the production and sale of iron ore pellets, provides rail and barge transportation services and owns and develops various real estate assets. X has met or topped the Street's earnings estimate in nine of the past 10 quarters. Earnings per share are forecasted to grow 10.0% over the next 3-5 years. On Apr 25, 2006, X crushed analysts' earnings expectations by an impressive 38.7% when it posted earnings per share of $2.08. While profits and revenues were down when compared to the first quarter of 2005, the company's results improved significantly when compared with the fourth quarter. Sales of tubular products rose to a new quarterly record of $177 million. The company expects strong second-quarter results. The consensus earnings estimates for X have been climbing upward. Profit forecasts for this quarter and next quarter have increased 34.6% and 55.6%, respectively, over the past 90 days. When looking at estimates for this year and next year, they have jumped 48.8% and 53.7%, respectively, over the same time period. Five analysts covering the stock submitted upward revisions for this quarter, while six have done so for next quarter. Seven analysts took the same action for both this year and next year. The Board of Directors at X declared a dividend of 15 cents per share on its common stock—a 50% increase when compared to its previous dividend of 10 cents per share, and the company's third increase since early 2005. The dividend is payable Jun 10, 2006, to stockholders of record as of May 17, 2006. The company is currently yielding 0.58% and has a five-year average dividend yield of 1.3%. X is trading at a discounted valuation. The company has a price-to-book (P/B) multiple of 2.5. Furthermore, the stock trades at a valuation of 11.5x trailing 12-month earnings and at only 8.6x its current fiscal-year estimated earnings. The market, as represented by the S&P 500, is trading at a valuation of 17.1x trailing 12-month earnings and at 16.0x its current fiscal-year estimated earnings. Its P/B multiple currently stands at 4.4. The company's return on equity of 19% is in line with the industry average. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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Lincoln Electric Holdings, Inc. (LECO) - consensus earnings estimates have been on the rise

Lincoln Electric Holdings, Inc. (LECO) has topped analysts' earnings estimates in five straight quarters. The company recently posted record 2006 first-quarter financial results. Earnings per share are projected to grow 19.0% over the next 3-5 years. The consensus earnings estimates have been on the rise for this Zacks #1 Rank stock. The company has a current dividend yield of 1.4% and a five-year average dividend yield of 2.4%. Full Analysis Lincoln Electric Holdings, Inc. engages in the manufacture and resale of welding and cutting products worldwide. LECO is the parent company of The Lincoln Electric Company and other Lincoln Electric subsidiaries. LECO has exceeded analysts' earnings expectations in five consecutive years by an average margin of 7.9%. Earnings per share grew 7.7% over the past five years and are forecasted to grow at a larger rate—19.0% over the next 3-5 years. On Apr 26, 2006, LECO reported first-quarter profits of $36.7 million, or 86 cents per share. With analysts expecting 75 cents per share, the company surprised to the upside by 14.7%. When compared to the first quarter of 2005, LECO's profits soared 56.4%. Quarterly revenues hit a new record—$468.4 million. The company pointed to strong volume increases in both its consumable and equipment product lines, as well as contributions from the J.W. Harris acquisition (completed in late April 2005), as fueling its record revenues in the first quarter. The company's impressive first quarter comes after its record 2005 fourth-quarter and full-year results. The consensus earnings estimate for this quarter current sits at 90 cents. When compared to the consensus of seven days ago, it has jumped 8.4%. Profit forecasts for the third quarter of 2006 increased 20.3% over the same time period. Analysts covering the stock have bumped their full-year 2006 and 2007 estimates upward by 15.7% and 20.9%, respectively. Operating cash flows at LECO ballooned 65.4% to $29.6 million, compared with $17.9 million in 2005. This enabled the Board of Directors to announce a quarterly cash dividend of 19 cents per share on Apr 28, 2006. The company has a current dividend yield of 1.4% and a five-year average dividend yield of 2.4%. LECO increased revenues for the past four years, expanded gross margins for the past two and grew profits for the past three. With the company working hard to enhance shareholder value, the results are apparent when analyzing its return on equity. The company's ROE is 20%, compared to 17% for the industry average. With LECO expected to open a new facility in China, and sales growth to India in the past year up about 100%, the company seems to be in great position going forward. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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Amphenol Corporation (APH) - exceeded earnings estimates in 13 out of the past 14 quarters

Amphenol Corporation (APH) has exceeded earnings estimates in 13 out of the past 14 quarters. Amazingly, the stock has ralled in response to each one of those earnings reports. Eight different analysts raised their numbers for 2006. Over the past 30 days, 2006 estimates have increased 3.8% to $2.73 per share. The stock is attractively valued at 18.7x next year's estimate of $3.14 per share, slightly above the 17% long-term growth rate, giving the stock a PEG ratio of 1.10. Full Analysis Amphenol Corporation designs and manufactures connectors and interconnect systems that are used primarily to conduct electrical and optical signals for a wide range of sophisticated electronic applications. The company is one of the leaders in developing interconnect products for factory automation, machine tools, instrumentation, and medical systems. Amphenol Corporation competes in two business segments: Interconnect Products & Assemblies and Cable Products. There are several positive factors impacting Amphenol, including the favorable conditions prevailing in the Interconnect Products business. The company's top-line growth is benefiting from these conditions that comprise improved end-market demand, new product rollouts, and market share gains. Amphenol has good long-term growth prospects in the mobile handset and infrastructure space. During the first quarter, mobile infrastructure posted a 5% year-over-year (y-o-y) growth (excluding TCS). Sales should gain momentum as mobile service providers accelerate the build-out of 3G infrastructure. In the mobile handset market, sales reported a strong 63% y-o-y increase in sales, primarily due to increased handset sales and diversification of APH's products into new mobile devices such as laptops. While entry into new devices is expected to contribute significantly to near-term sales growth of this market, sales will also benefit from the expected rollout of new handset models driven by increased functionality on the phones. Amphenol's company-wide margins are expanding on account of higher volumes, ongoing development of new high-margin products, and cost-reduction initiatives. The Interconnect segment reported a year-over-year improvement in first quarter margins (excluding TCS) amid introduction of new high-margin products, higher volumes, and cost control efforts. The new product launches cater to the wireless infrastructure, mobile phones, and automotive end-markets—all of which are exhibiting extremely positive demand trends. The company has exceeded earnings estimates in 13 out of the past 14 quarters. Amazingly, the stock has ralled in response to each one of those earnings reports. Eight different analysts raised their numbers for 2006. Over the past 30 days, 2006 estimates have increased 3.8% to $2.73 per share. The stock is attractively valued at 18.7x next year's estimate of $3.14 per share, slightly above the 17% long-term growth rate, giving the stock a PEG ratio of 1.10. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. The ranks are updated every Monday morning on Zacks.com. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions.

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Siemens (SI) - recently reported a solid fiscal second quarter, with strong revenue growth

Strong Demand at Siemens Posted Mon May 01, 08:20 am ET Siemens (SI) recently reported a solid fiscal second quarter, with strong revenue growth, but earnings were slightly below our estimates. The company continues to experience problems at its SBS and COMs divisions, which has caused us to lower our estimates for the year, but it is also experiencing strong growth in the rest of its businesses, and we have raised our revenue estimates for fiscal 2006 and 2007. While the company is preaching a slowdown in growth, its order growth continues to increase by over 20%, which bodes well for future quarters. We continue to rate SI a Buy, as the company continues to experience strong demand from China, India, and other emerging economies. Given its product breadth and geographical diversity, the company should be a major beneficiary of a global economic upswing. Its core businesses are already seeing signs of a pickup in demand (as reflected in recent orders, which have been strong) and are well positioned in areas, such as China and Eastern Europe, where growth is the fastest. In addition, management is in the process of moving more of its operations to low-cost regions, such as China and Eastern Europe. Siemens has also made significant progress in its restructuring efforts over the past several years. Management has been focusing on improving profitability in each of its major businesses, in part through aggressive cost cutting. Each of the underperforming units has been given a timetable for reaching an acceptable level of profitability and several non-core units have already been spun off. While it will take time for overall corporate profitability to match the levels of General Electric (GE), we are encouraged by the progress the company is making, and the strong order intake in the first quarter is only proof that the company stands to benefit from the structural improvements that are taking place around the globe. Finally, Siemens has also finalized several other small acquisitions across several business areas to enhance its market presence in those key areas. Courtesy: http://www.zacks.com/blog/post_detail.html?t=1345

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$62 Target on Chemed (CHE) - We remain positive on the stock and maintain our Buy recommendation at current levels

$62 Target on Chemed Posted Mon May 01, 12:37 pm ET Chemed Corporation (CHE), through its two primary subsidiaries of Vitas and Roto-Rooter, is a major player in both the hospice and plumbing industries, respectively. The company reported adjusted EPS of $0.47, up 17.5% y/y compared with EPS of $0.40 in 1Q05. Management attributed the lower-than-expected EPS to a combination of excess patient capacity and higher-than-average discharges during the quarter in the VITAS division. That said, management reiterated FY06 EPS guidance in the range of $2.20 to $2.35. We remain positive on the stock and maintain our Buy recommendation at current levels. Chemed (formerly Roto-Rooter, Inc.) is headquartered in Cincinnati, Ohio. Publicly traded since 1971, Chemed currently operates in the healthcare field through its Vitas Healthcare Corporation (Vitas) subsidiary, and in the residential and commercial repair and maintenance service industry under the Roto-Rooter name. The company has evolved since its incorporation in 1970 through numerous acquisitions and divestments of diversified businesses. The Service America subsidiary, located throughout Florida and in Phoenix, Arizona, was divested through an asset sale to employees of Service America. In FY06, management anticipates VITAS to grow revenue by 15% to 18% and increase admissions by 7% to 9%. Roto-Rooter revenue is estimated to grow by 5% in FY06, with adjusted EBITDA margins averaging between 16% and 17%. Based upon these factors and an average diluted share count of 27.0 million, management expects FY06 EPS, excluding any charges or credits not indicative of ongoing operations as well as excluding any expense for stock options required under SFAS 123R, to be in the range of $2.20 to $2.35. Courtesy: http://www.zacks.com/blog/post_detail.html?t=1355

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Target $26 for RNVS - drugs to treat neurological diseases and disorders

Target $26 for RNVS Posted Mon May 01, 04:41 pm ET by Jason Napodano, CFA Renovis (RNVS) is a biopharmaceutical company developing drugs to treat neurological diseases and disorders. The most advanced is NXY-059, an intravenous drug for acute ischemic stroke. The company went public on February 5, 2004 at $12 per share. Since that time, Renovis has had its ups and downs, but the data so far on NXY-059 looks very encouraging. A large-scale U.S. trial called SAINT-II should offer important data during the first half of 2007. We believe the company is on track to file an application for approval in 2007. We would be buyers of the stock at this level. Our price target is $26. Enrollment in SAINT-II seems to be progressing well. The company will enroll 3,200 patients total around the U.S. This is a highly powered trial designed to detect statistical significance. AstraZeneca (AZN) is also reanalyzing data from the SAINT-I trial based on new parameters in the National Institutes of Health Stoke Scale (NIHSS). An Independent Data and Safety Monitoring Board (IDMB) gave the OK to continue with the SAINT-II trial on interim analysis of the first 1,600 patients. Because enrollment in this trial is progressing well AstraZeneca believes that it will be in a position to file the New Drug Application (NDA) with the U.S. FDA in mid 2007. We are pleased to see that AstraZeneca is on track with our current forecasts. The NDA filing scheduled in the second quarter of 2007 will trigger a $7.5 million milestone payment to RNVS. Valuation for any small-cap pharmaceutical or biotechnology stock with negative earnings and no product revenue is always a difficult task. We believe that Renovis will continue to be a very volatile stock until the regulatory filing for NXY-059. We were very pleased to see the data on NXY-059 achieve statistical significance in the SAINT-I trial. We are also pleased that the CHANT trial met the primary end-point of safety and tolerability. Courtesy: http://www.zacks.com/blog/post_detail.html?t=1364

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