Today Zacks.com releases the names of four more stocks that are on their coveted Brokerage Buy List portfolio. This portfolio includes just those stocks that currently appear on the core recommended lists of at least three of the top 14 brokerage firms. These stocks are considered the best large-cap stocks to own for the long term according to Wall Street's top players. Since January 2003, this portfolio has generated an annualized double-digit return. Here are four stocks that are currently members of this prestigious list: Bank of America Corporation (NYSE: BAC), Citigroup Inc. (NYSE: C), GE (NYSE: GE) and JPMorgan Chase & Co. (NYSE: JPM). View the entire list of stocks on the Brokerage Buy List at http://at.zacks.com/?id=139
Here are the explanations as to why these stocks are on the Brokerage Buy List:
Bank of America Corporation (NYSE: BAC) recently posted second quarter earnings per share of $1.22, excluding items, which topped the consensus by almost 11%. Revenue advanced 25% year over year, while pro forma revenue, which includes MBNA's second quarter 2005 results, increased 6%. Bank of America stated that year-over-year improvement was fueled by a strong performance across the consumer businesses, continued growth in trading account profits, investment banking income and equity investment gains, along with improvements in asset management categories. The company remains a large-cap stock to own for the long term with three of the leading brokerages.
Citigroup Inc. (NYSE: C) reported second quarter earnings per share of $1.05 earlier this week, which fell short of the consensus. Nevertheless, the result still improved on a year-over-year basis, and the global financial services giant remains a stock to own with three of the top brokerage firms. Revenues increased 10% to $22.18 billion. One of the highlights in the quarter included its second-highest corporate and investment banking revenues, which increased 31%, while income advanced 26%.
GE (NYSE: GE) is a stock to own for the long term with as many as five of the leading brokerage firms. For its second quarter, earnings per share reached 47 cents from continuing operations on revenues of $39.9 billion. The earnings result matched the consensus and improved upon the previous year's 44 cents. Meanwhile, revenues advanced 9%. Organic revenue growth was 8%, while total orders were up 17%. For the third quarter, GE expects double-digit segment profit growth in five of its six businesses and earnings per share from continuing operations growth of 12% to 16%.
JPMorgan Chase & Co. (NYSE: JPM) posted record earnings in the second quarter due to positive momentum across the firm, with almost all of its businesses generating growth in key production metrics and volumes. Earnings per share advanced handily year over year and beat the consensus, while revenue increased 19% to $14.9 billion. Some highlights in the quarter included record fees in its Investment Bank and continued progress in the Corporate segment. The company remains a large-cap stock to own for the long term with three top brokerages.
To discover all the other profitable stock portfolios at Zacks.com, use this link: http://at.zacks.com/?id=140
About Zacks Brokerage Buy List
Zacks has developed many successful ways for individual investors to profit from the stock picking prowess of Wall Street professionals. The Brokerage Buy List is yet another powerful tool that investors can wield in order to improve their investment results. This portfolio is comprised of the core stocks recommended by at least three of the Top 14 brokerage firms. These are the kind of large-cap stocks that are best for long- term investors. Since January 2003, this portfolio has generated an annualized double-digit return. To learn more about the Brokerage Buy List, go to http://at.zacks.com/?id=141
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