For Immediate Release
Chicago, IL – August 20, 2013 – Zacks Equity Research highlights Synaptics (SYNA-Free Report) as the Bull of the Day and Pulte Group (PHM-Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on the Cheesecake Factory Inc. (CAKE-Free Report), Nordstrom Inc. (JWN-Free Report) and Macy's, Inc. (M-Free Report).
Here is a synopsis of all five stocks:
What's the most appealing feature of our smartphones, besides their ability to keep us connected and informed? Arguably it is the touchscreen which allows us to glide effortlessly through our favorite forms of communication, information, and entertainment.
Synaptics (SYNA-Free Report) is one of the key developers of touchscreen technology with Samsung smartphones as a primary customer. As Samsung phone sales grow in Asia and the US with each rollout of new devices, Synaptics looks to benefit.
And recent uncertainty about whether SYNA would face new competition in this role has settled on the idea that they will be the top supplier even though Samsung may always have to contract with multiple technology vendors. Plus, there is now speculation that SNYA technology will be featured in the latest Samsung tablets and notebooks due this fall.
I last wrote about SYNA as a Zacks #1 Rank in late June -- the day before the company raised guidance and thereby launched the stock up over 15% the next day. This week, SYNA has returned to the top 5% of companies which have the highest earnings momentum.
Is the housing recovery over? From one look at the homebuilder stocks you would think so. The steep climb in interest rates has taken the whole group into bear market territory and the $6.3 billion Pulte Group (PHM-Free Report), builder in over 25 states, has been a leader of the decline.
At its May peak, the stock was trading over $24, which means its market cap was over $3 billion greater only 3 months ago. Since it became a Zacks #5 Rank Strong Sell on August 3rd, it has fallen another 8% from $17 to $15.65.
Here's a look at the trend of earnings estimates for PHM which shows how the dreaded Fed "taper talk" has turned the outlook for this builder and others...
As we have watched stocks like Ryland, KB Homes, Lennar and DR Horton get clobbered by 25% to 35% since their May highs, PHM was down 40% last week. It is also the first of these to slip to a Zacks #5 Rank.
Cheesecake Factory Expands to Michigan
Casual dining restaurateur, The Cheesecake Factory Inc. (CAKE-Free Report), which currently boasts nearly 176 restaurants across the United States, has unveiled a restaurant in Novi, Mich. This is the third of the company’s targeted 8-10 outlet openings in 2013 and bears evidence to its strategy of expanding in the lucrative domestic market.
The restaurant, located in the Twelve Oaks Mall, marks Cheesecake Factory’s debut in Michigan. The 8,400 square foot-restaurant can accommodate around 225 diners at a time.
A major regional shopping center, Twelve Oaks Mall, is strategically located at the intersection of I-96 and Novi Road. The shopping centre boasts stores of major American retail giants such as Nordstrom Inc. (JWN-Free Report) and Macy's, Inc. (M-Free Report). We believe that the restaurant’s strategic location, along with its attractive menu and contemporary ambience, will drive traffic, going ahead.
According to the National Restaurant Association, the restaurant industry of Michigan acts as a major catalyst of its economic development. The Michigan restaurant industry is projected to generate around $13.1 billion in revenues in 2013.
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