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Stocks are soaring on the cusp of the Bernie Madoff sentencing. The market appears pleased to see the admitted swindler be sent to prison for 150 years. Positive words from Boston Federal Reserve President Rosengren saying the GDP should be positive by the second half of 2009 further lifted stocks.
Our Long Term PowerRatings upgrades contain stocks from such diverse sectors as grocery stores, biotech and advertising. Regardless of market conditions, there are always those stocks that exhibit tendencies that make them more likely to be top performers. Our Long Term PowerRatings program is constantly scanning and rating stocks across a wide spectrum of sectors and industries to help you find those gems hidden within the volatile environment.
Our statistically valid long term studies clearly indicate that those stocks that earn a 10 rating have a 81% chance of being higher one year later. Those that possess a 9 rating have a 79.1% chance of trading higher one year later. On the other hand, stocks that are given low ratings of 1 or 2 have proven time and again to simply be too volatile thus risky for prudent, conservative long term investment. While some of these "bottom of the barrel" stocks can have top performance in the short term, the volatility inherent within them makes them poor choices for your long term portfolio.
Here is a sampling from the upgrade scanner today:
Procter & Gamble (PG | Quote | Chart | News | PowerRating) - This leading personal products company is the highest ranked stock on the upgrade list today. It has been upgraded from a 6 to a 7 Long Term PowerRating. CEO A.G. Lafley provided positive outlook for fiscal 2010. Organic sales are expected to grow by 1 to 3%; however, growth and net sales are expected to be flat on the year. EPS is expected to be between zero and 4% and the company looks forward to strong investment growth. Technically, the stock has resumed its uptrend after finding intraday support at $47.00/share on June 22nd. Price is now above the 50 day Simple Moving Average but below the 200-day SMA at 55.61.
Charles River Labs (CRL | Quote | Chart | News | PowerRating) - A biotech company who supplies essential products and services to help other firms develop drugs and pharmaceutical products. It has been upgraded from a 5 to a 6 Long Term PowerRating. However the first quarter of 2009 was not kind to the company with an 11% sales decrease and a decrease of 19.4% of earnings. They still provided positive guidance into the rest of 2009 due to a stabilizing demand and pricing. Techincally, shares have been in a ripping uptrend since April 27th. Price is now above the 50 and 200-day SMA which are 29.54 and 31.04 respectively.
Ruddick Corp (RDK | Quote | Chart | News | PowerRating) - A holding company that owns the Harris Teeter grocery stores and American & Efird, an industrial sewing thread company. They have just been upgraded from a 5 to 6 Long Term PowerRating. Sales for the fiscal second quarter increased by 3.5% driven by the Harris Teeter division. Sales declined at the A & E division. Technically, price hit resistance at the 200 dayh SMA and has been knocked down, finding support at the $23.00/share level. It is trading below both the 200 and 50-day SMA's currently.
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David Goodboy is Vice President of Business Development for a New York City based multi-strategy fund.
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