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Zacks Bull and Bear of the Day Highlights: EI DuPont de Nemours, Bank of America, ConocoPhillips, ExxonMobil and Chevron

Zacks Investment Research, Inc., www.zacks.com. (PRNewsFoto/Zacks Investment Research) (PRNewsFoto/ZACKS INVESTMENT RESEARCH)

News provided by

Zacks Investment Research, Inc.

Apr 28, 2011, 10:20 ET

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CHICAGO, April 28, 2011 /PRNewswire/ -- Zacks Equity Research highlights: EI DuPont de Nemours & Co. (NYSE: DD) as the Bull of the Day and Bank of America (NYSE: BAC) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on ConocoPhillips (NYSE: COP), ExxonMobil Corp. (XOM) and Chevron Corp. (CVX).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.

Here is a synopsis of all five stocks:

Bull of the Day:

EI DuPont de Nemours & Co. (NYSE: DD) reported first quarter earnings of $1.52 per share, surpassing the Zacks Consensus Estimate by $0.15. Revenues reached $10.0 billion, compared to the Zacks Consensus Estimate of $9.3 billion. Earnings benefited from price increases that significantly outpaced higher raw materials and energy costs.

The company remains vigilant in its focus on productivity with respect to fixed costs, variable costs and working capital. DuPont increased its full-year earnings guidance to between $3.65 and $3.85 per share from a range of $3.45 to $3.75 due to stronger business results, especially in Safety & Protection and Performance Chemicals as well as in the developing markets.

We remain optimistic on the company and maintain our Outperform recommendation with a target price of $67.00. DuPont currently carries a Zacks #1 Rank (Strong Buy).

Bear of the Day:

Bank of America's (NYSE: BAC) first-quarter 2011 earnings came in substantially lower than the Zacks Consensus Estimate. Lower top line and higher non-interest expense were primarily responsible for lower-than-expected results. Reduced mortgage banking income and higher litigation expenses were also among the negatives.

The Federal Reserve's objection to the company's proposed capital deployment in the second half of 2011 remains a major headwind at this point. After reviewing the results, we are maintaining our Underperform recommendation on the shares.

We are also concerned about Bank of America's elevated cost structure. Non-interest expense rose significantly during the last two quarters of 2010. As the company is in the process of addressing legacy issues and continues to invest in its franchise, expenses are expected to remain high through 2011.

Latest Posts on the Zacks Analyst Blog:

Conoco Misses, Output Falls

ConocoPhillips (NYSE: COP) reported first-quarter 2011 earnings of $1.82 per share (excluding non-recurring items), way below the Zacks Consensus Estimate of $1.97 due to lower production volumes, the absence of equity earnings from LUKOIL and higher taxes.

However, the quarter's earnings increased from $1.47 in the year-ago quarter. The improved performance primarily reflects a hike in commodity prices associated with better U.S. refining margins.

Revenues in the reported quarter jumped more than 27% year over year to $58.2 billion, comfortably beating the Zacks Consensus Estimate of $53.7 billion.

Outlook

We remain optimistic on ConocoPhillips' ability to generate free cash flow by unlocking capital tied up in non-core assets. The third-largest U.S. oil company by market value, ConocoPhillips, after ExxonMobil Corp. (XOM) and Chevron Corp. (CVX), said it expects its output to grow 2% to 3% a year on a long-term basis.

Although we are encouraged by the recent discoveries and the company's new exploration efforts, the transition into improvements in the reserves base, finding and development costs, the production growth remains a long-term story.

The divestment of certain non-strategic assets helps the company to apportion capital to higher margin projects such as Canadian oil sands, LNG and unconventional resource plays. Houston-based ConocoPhillips plans to sell an additional $5 billion to $10 billion worth of non-core resources by the end of 2012 as it looks for more oil and gas production and exploration by streamlining its business and improving shareholder returns. Notably, Conoco completed the sale of its OAO LUKOIL shares in the first quarter.

Again, ConocoPhillips' exploration initiatives toward liquids rich plays such as Eagle Ford, Bakken and North Barnett shale plays are gaining momentum.

We maintain our long-term Neutral recommendation on the stock. Conoco holds a Zacks #3 Rank, which translates to a short term 'Hold' rating.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

About the Analyst Blog

Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.

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 analyst 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 by visiting http://at.zacks.com/?id=7158.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics 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=4582.

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.

Contacts:
Mark Vickery
312-265-9380
Visit: www.zacks.com

SOURCE Zacks Investment Research, Inc.

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