Zacks Buy List Highlights: Pride International, Inc., Harris Corp., Papa John's International Inc., and FedEx Corporation

Business Wire, Jan 10, 2006

CHICAGO -- Zacks.com releases another list Zacks Rank Buy Stocks. Everyday on Zacks.com, four stocks are selected based on how well they match the criteria for the four main schools of investing: Aggressive Growth, Growth & Income, Momentum and Value. The four Zacks Rank Buy stocks highlighted today are Pride International, Inc. (NYSE:PDE), Harris Corp. (NYSE:HRS), Papa John's International Inc. (NASDAQ:PZZA), and FedEx Corporation (NYSE:FDX).

Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of 33% since inception in 1988. During the 2000-2002 bear market, Zacks #1 Rank stocks gained 43.8% while the S&P 500 tumbled 37.6%. To see the full Zacks #1 Rank (Strong Buy) List, or the rank for any other stock, visit: http://at.zacks.com/?id=88

Here is a synopsis of today's Zacks Rank Buy Stocks:

Aggressive Growth - Pride International, Inc. (NYSE:PDE)

Pride International, Inc. is a leading contract driller whose earnings are soaring. Growth has really started to accelerate recently as year-over-year increases in earnings have exceeded 100% for the last three quarters. Sixteen different analysts raised their numbers for the year ended December 2005. Those estimates have increased 14.7% to 78 cents over the past 90 days.

Growth & Income - Harris Corp. (NYSE:HRS)

Harris Corp. recently raised its fiscal 2006 earnings guidance. As a result, analyst estimates have been trending higher for both fiscal 2006 and fiscal 2007. HRS has an attractive ROE of 16.0% and is currently yielding 0.69%.

Momentum - Papa John's International Inc. (NASDAQ:PZZA)

After a season of turkey, once the leftovers are gone, American appetites turn to simpler fare, such as pizza. Investor appetites have been focused on Papa John's for a long time now, as the stock has set new 52-week highs every trading session of 2006. In addition, analysts following PZZA have been revising their forecasts for 2005 and 2006 earnings upwards over the past 30 days.

Value - FedEx Corporation (NYSE:FDX)

FedEx Corporation, a Zacks #1 Rank stock, recently increased its EPS guidance for fiscal 2006. Analysts responded by upping their estimates for both fiscal 2006 and fiscal 2007. FDX is trading at a discounted valuation of 3.0x book value.

Truly taking advantage of the Zacks Rank requires the understanding of how it works. The free special report, "Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions," provides an insightful background about this wealth-building tool. Download your free copy of the report now to prosper in the years to come by visiting http://at.zacks.com/?id=93.

About the Zacks Rank

For over 17 years, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank stocks have generated an average annual return of 33%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained 43.8%, while the S&P 500 tumbled 37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have underperformed the S&P 500 by 155.5% annually ( 4.6% vs. 11.8%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

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