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Zacks Bull and Bear of the Day Highlights: Joy Global, BioMarin Pharmaceutical, The Coca Cola Company, Coca Cola Enterprises and Pepsico

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

News provided by

Zacks Investment Research, Inc.

Apr 27, 2011, 11:38 ET

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CHICAGO, April 27, 2011 /PRNewswire/ -- Zacks Equity Research highlights: Joy Global (Nasdaq: JOYG) as the Bull of the Day and BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) the Bear of the Day. In addition, Zacks Equity Research provides analysis on The Coca Cola Company (NYSE: KO), Coca Cola Enterprises (NYSE: CCE) and Pepsico, Inc. (NYSE: PEP).

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

View Full analysis of all these stocks

Here is a synopsis of all five stocks:

Bull of the Day:

We are encouraged by the long-term fundamentals of the mining industry, which provides Joy Global (Nasdaq: JOYG) with substantial growth potential as conditions improve in the U.S., China and India. The company's first quarter earnings were almost in line with estimates on a significant pick-up in the company's orders.

Additionally, management's impressive cost-restructuring initiatives, together with expectations of increased spending plans on part of the mining industry, should help the company stay ahead of the curve, in our view.

Given the company's robust 2011 outlook and improving mining industry fundamentals, we see Joy Global shares performing ahead of the broader market going forward and maintain our Outperform recommendation on the stock.

Bear of the Day:

We are downgrading BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) to Underperform from Neutral following the below-par showing of the company in the final quarter of 2010. Earnings were hurt by lower-than-expected revenues. We were disappointed with the continued weak performance of Aldurazyme and the slow Firdapse ramp.

Moreover, we expect cash burn to increase since the company is investing heavily in its pipeline. Any negative news regarding the pipeline would have an adverse impact on the stock.

The early/mid-stage pipeline at BioMarin also concerns us. These headwinds cause us to believe that there is little reason for investors to own the stock at current levels. Our target price is $24.00.

Latest Posts on the Zacks Stock Analysis Blog

Coca Cola Goes Flat in Q1

The Coca Cola Company (NYSE: KO) reported earnings per share of 86 cents for the first-quarter 2011, missing the Zacks Consensus Estimate by 1 cent. However, it was higher than the year-ago EPS of 69 cents by 24.63%.

Quarterly Details

During the reported quarter, Coca-Cola's net revenues saw a robust growth of 40% to $10,545 million from $7,525 million in the year-ago period. The growth was mainly attributable to a 4% increase in concentrate sales, 2% currency benefit, favorable impact of price-mix ratio and the acquisition of CCE's North American operations, partially offset by the effect of structural changes.Global unit case volume increased 3% in the quarter.

Geographically, the Eurasia & Africa division witnessed volume growth of 8% year-over-year led by Russia, which surged 24%, followed by Turkey at 20%,14% in China, 11% in Mexico, 9% in India, 8% in South Korea and 4% in Germany.

The Latin American segment volumes increased 7% driven by Mexico (14%), Brazil (2%) and (9%) growth in South Latin Region. While North America recorded 6% volume growth, Pacific region and Europe witnessed a 5% and 1% volume growth respectively.

Coca-Cola's gross profit during the quarter soared by 32% to $6,589 million compared to $4,984 million a year ago. Gross margin contracted 370 basis points to 62.5% versus 66.2% in the prior-year quarter, due to increased commodity costs. The operating profit increased by 4% to $2,503 million from $2,279 million in the prior-year period.

Balance Sheet, Cash Flow and Share Repurchase

Coca-Cola exited the year with $9,075 million in cash and cash equivalents and a long-term debt-to-capitalization of 28.2%. During the first quarter of 2011, the company generated $458 million of cash from operations and deployed $1,047 million cash for investing activities and $986 million for financing activities.

During the first quarter, the Company was actively engaged in hedging activities principally related to commodity exposures associated with the North American business acquired from Coca Cola Enterprises (NYSE: CCE). During the first quarter, this hedging activity resulted in net unrealized gains of $36 million.

Management reported that the Coca-Cola Refreshments ("CCR") integration efforts are as per schedule. They are expected to generate 2011 net cost synergies of $140 to $150 million. Company-wide productivity initiatives are also on track with a target of $500 million annualized savings by year-end 2011.

Coca Cola which competes with Pepsico, Inc. (NYSE: PEP) currently holds a Zacks #3 Rank. On a long-term basis, we maintain a Neutral rating on the stock, which translates into a short-term Hold rating. Get the full analysis of all these stocks 

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 Stock 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

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 InvestmentResearch 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.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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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
http://www.zacks.com
800-767-3771 ext. 9339
[email protected]

SOURCE Zacks Investment Research, Inc.

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