Zacks.com Announces That Gregory Spear Highlights the Following Stocks: Schlumberger, Petrobras, Avnet and Continental Airlines

Business Wire, April 16, 2007

CHICAGO -- Gregory Spear of The Spear Report Professional Edition newsletter says there is little hope for a rate cut anytime soon. Find out more and discover Schlumberger (NYSE: SLB), Petrobras (NYSE: PBR), Avnet (NYSE: AVT) and Continental Airlines (NYSE: CAL). Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84

Highlights from the April 13th Featured Expert column by Gregory Spear include:

As there is little hope for a rate cut anytime soon, the greater concern is about the slowing economy. Thursday's news suggests a sanguine consumer with money to spend and contradicts the key argument for the bears. Meanwhile, gasoline prices are way up, but as this is the second time we have seen $3 at the pump, the emotional shock value is quite a bit less. In fact, at this point, higher crude prices are a plus for Wall Street.

Crude oil rose 3% on Thursday to close at nearly $64 a barrel. This helped our energy plays and Schlumberger (NYSE: SLB) in particular. We have gone out on a limb and forecast a $100 price target for SLB this year. The stock is now at $75, holding a steady uptrend. Our forecast is based on a combination of fundamentals and technicals (chart pattern). We find that when the two elements reinforce each other, the price movement can be spectacular. We are also bullish for the long-term on Petrobras (NYSE: PBR). Brazil's bourse made a new all-time high this week.

The spectacular Buy List performance this past week has enabled it to pull far ahead of all the major indices in terms of year to date performance. This week it adds back Avnet (NYSE: AVT) and Continental Airlines (NYSE: CAL). The Buy List is finding its preferred combination of value and momentum in a mix of globally focused energy and technology.

Read Gregory Spear's commentary regarding the fact that there is little hope for a rate cut anytime soon and check out more stocks by clicking: http://at.zacks.com/?id=85

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