Zacks Sell List Highlights North Fork Bancorp, Pilgrim's Pride, Dow Corning, and Plains Exploration & Production

Business Wire, Jan 31, 2006

CHICAGO -- Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List - Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): North Fork Bancorp (NYSE:NFB) and Pilgrim's Pride International, Inc. (NYSE:PPC). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Dow Corning Corp. (NYSE:DOW) and Plains Exploration & Production Company (NYSE:PXP). To see the full Zacks #5 Rank List - Stocks to Sell Now visit: http://at.zacks.com/?id=92

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List -- Stocks to Sell Now by 155.5% annually (11.8% vs. 4.6% respectively). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why NFB and PPC have a Zacks Rank of 5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the Zacks ranked stocks:

North Fork Bancorp (NYSE:NFB) recently reported a fourth-quarter profit of 45 cents per share. The results were below the consensus estimate of 48 cents per share and represented the third consecutive earnings miss. In response, 15 of the 18 covering analysts downwardly revised their forecasts. The new consensus estimate for full year 2006 profits of $2.00 per share is about seven percent below the level of two months ago.

Pilgrim's Pride International, Inc. (NYSE:PPC) last week reported fiscal first quarter profits of 39 cents per share, inline with its previously revised guidance and a penny above expectations. Following the company's conference call, all three covering analysts lowered their forecasts for the remainder of the year. The new consensus estimate for fiscal 2006 earnings of $2.30 is 64 cents below the level of a week ago and a $1.32 below the level of two months ago.

Here is a synopsis of why DOW and PXP have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks:

Dow Corning Corp. (NYSE:DOW) reported a fourth-quarter profit of $1.02 per share on Monday. The result was a penny below expectations for $1.03 per share and marked the second miss in three quarters. Prior to the report, analysts had been lowering their forecasts for 2006. The current consensus estimate for 2006 profits of $5.32 reflects cuts by six of the 12 covering analysts over the past month; the previous consensus estimate had been $5.49 per share.

Plains Exploration & Production Company (NYSE:PXP) has missed earnings expectations twice during the past five quarters. The company recently announced derivative positions on oil, which are comprised of puts with a strike price of $55 per barrel. The cost of these positions is approximately $7.5 million per month this calendar year. Though these premiums may or may not be the reason, analysts have been cutting their forecasts. The current consensus estimate for 2006 full year earnings is $3.89 per share, which is 22 cents below the level of 60 days ago.

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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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