Zacks Analyst Blog Highlights: Wipro, Ltd., Skechers USA, Inc., Coca-Cola Hellenic Bottling Co., Scientific Games Corp. and AtheroGenics, Inc.

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: Wipro, Ltd. (NYSE: WIT), Skechers USA, Inc. (NYSE: SKX), Coca-Cola Hellenic Bottling Co. (NYSE: CCH), Scientific Games Corp. (Nasdaq: SGMS) and AtheroGenics, Inc. (Nasdaq: AGIX).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579

Here are highlights from Tuesdays Analyst Blog:

Wipro ADR Estimates Adjusted

Wipro, Ltd. (NYSE: WIT) ADR is a global provider of IT services, software solutions, and research and development (R&D) services, and is the third largest in India. It has development centers in India and abroad, which utilize its global resource pool and quality processes to provide cost-effective IT solutions to its clients around the world.

We remain concerned that margins may continue to be pressured for currency fluctuations and acquisition-related integration issues in the near-term. However, there has been minimal reduction in operating margins despite salary hikes to onsite employees. The company has also provided improved revenue guidance for 2Q09 and integration of its acquisitions seems to be well on track.

Skechers a Hold in Current Climate

In July, Skechers (NYSE: SKX) issued third-quarter guidance that was below consensus expectations. Macro risks have increased in the last two months, and economic conditions have worsened. These conditions are continuing to pressure consumer discretionary spending, and that is negatively affecting the footwear maker' results. Therefore, we are reducing our estimates for 2008 and 2009.

Longer term, the Manhattan Beach, California-based company's diverse portfolio of brands, international growth opportunities, and retail store expansion should bode well for its stock price. Still, its near-term upside will be limited until macro conditions show signs of improving. We maintain our Hold rating.

Coca-Cola Hellenic Upped to Buy

Coca-Cola Hellenic Bottling Company (NYSE: CCH) enjoys an attractive geographic mix with 66% of revenues being derived from developing or emerging markets. In addition, the company's product mix is less dependent on CSDs (carbonated soft drinks) than other bottlers.

Since the company conducts business and reports financial results in Euros, much of the stock's performance is inversely correlated with US dollar's exchange rate with the Euro. However, as management has a sound business strategy and proven execution skills, the recent earnings decline is providing a valuation-based buying opportunity. Therefore, the stock has been upgraded to a Buy.

Scientific Games a Smart Play

Scientific Games (Nasdaq: SGMS) has a leading position in several markets, including the instant ticket and online lottery markets. In addition, Scientific Games continues to win significant contracts in both the instant ticket and online lottery markets from both domestic and international lottery authorities.

Also, the company has made several acquisitions that have accelerated top-line growth. Ron Perelman, a world-renowned private investor, owns 28.1% of the company's stock. The Buy rating is maintained.

AGIX Files for Chapter 11

For those of you still holding onto AtheroGenics (Nasdaq: AGIX), the research-based pharmaceutical company with two clinical-stage drug development programs (according to Zacks senior drug industry analyst Jason Napodano, CFA, who published a report on AGIX last week), the company has just announced today it has filed for Chapter 11 bankruptcy.

The question now seems to be who, if anyone, will pick up the pieces of the late-phase candidates AGIX had been developing. But for anyone shocked by today's announcement, they shouldn't be. From the same AGIX report: "The company previously released phase III data on lead compound AGI-1067 that did not meet the primary end point."

Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=2649.

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=2677

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=4580.

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

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:

Zacks.com
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here