CHICAGO, Sept. 10, 2012 /PRNewswire/ -- 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 Nokia (NYSE:NOK), Google (Nasdaq:GOOG), Amazon (Nasdaq:AMZN), Apple (Nasdaq:AAPL), and Microsoft (Nasdaq:MSFT).
(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Friday's Analyst Blog:
Payroll Numbers Disappoint
The European Central Bank was in the spotlight this week, but the focus today is on the U.S. labor market, following a surprisingly weak monthly jobs report this morning.
With respect to the conduct of monetary policy, the market was expecting some sort of easing action coming out of next week's FOMC meeting. Minutes of the last FOMC meeting and Fed Chair Ben Bernanke's Jackson Hole speech helped strengthen those expectations. Today's jobs report will further advance these notions.
This is a weak report, proving once again that recent optimism on the labor market front may have been premature. The report brings back the QE debate to the front burner.
The Bureau of Labor Statistics (BLS) reported August non-farm payroll gains of 96K, below the roughly 125K expected and the 141K jobs in July (revised down from 163K originally reported). The revisions trend was clearly negative – with July and June both revised lower. The unemployment rate ticked down to 8.1% from 8.3% last month, driven primarily by a drop in the labor force participation rate to its lowest level since the early 1980's.
Thursday's ADP report of strong private sector job gains appears to have been off the mark this month after accurately providing a preview of the BLS number in July. A total of 103K private sector jobs were created in August, compared to 162K in July, with the government sector suffering job losses of 7K. The ADP report showed private-sector job gains of 201K in August.
Manufacturing lost 15K jobs in August, compared to gains of 23K in July, while service sector jobs totaled 119K, compared to job gains of 139K in July and 54K in June. The manufacturing decline is particularly worrying as the factory sector was consistently adding jobs in this recovery, but seems to have lost steam lately as confirmed by the sub-50 readings on the ISM survey in the last two months.
Temp jobs dropped 4.9K, after steady gains in recent months. The average workweek remained unchanged at 34.4 hours, while average hourly earnings dropped by a penny to $23.52. The August average hourly earnings are up 1.7% from the same period last year.
In corporate news, the technology space has become very active in recent days with companies coming out with new products and services. In this holiday-shortened week alone, we have seen new devices from Nokia (NYSE:NOK), Google's (Nasdaq:GOOG) Motorola unit, and Amazon (Nasdaq:AMZN).
The big launch is from Apple (Nasdaq:AAPL), which is expected to come out with the latest iPhone offering in the coming days, and a slew of products that will work on Microsoft's (Nasdaq:MSFT) new operating system.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
[email protected]
http://www.zacks.com
SOURCE Zacks Investment Research, Inc.
Share this article