Zacks Analyst Interview Highlights: Boeing and Countrywide Financial

Business Wire, July 30, 2007

CHICAGO -- Zacks.com releases the latest Analyst Interview. Today's interview is with Director of Equity Research Dirk van Dijk, who discusses Boeing (NYSE: BA) and Countrywide Financial (NYSE: CFC).

A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678.

Over the past few years, the housing market's success story has been one of the things keeping things doing very well. What are we looking at now, with these numbers where they're at?

All I can say as far as the U.S. economy is concerned is: thank God for Boeing (NYSE: BA). You know, you saw the durable goods orders [Thursday], and it was all new orders for aircraft for Boeing, helping to buoy our exports and the weak dollar. Because, absent that, we really could be looking at a Recession. I think we skate past, but this housing [issue] is a real drag on the economy. But we are sort of being pulled along by the rest of the world.

Is it too early to forecast, then, what we might be looking at for the next time there are existing and new home sales reports? Are we going to see a rebound, or is it too hard to say at this point?

Honestly, I don't think so. One of the things about the new housing sales, comparing them to the existing, there's a little bit of a time frame difference. New home sales really are June. But the existing are more May, when you actually shake on the deal, but it's recorded at the closing of escrow, and that takes awhile. So if anything, the existing is more likely to move in the direction of what new did this month, due to this mechanical timing difference.

You've also had a lot more turmoil in the mortgage market in the intervening period. The report from Countrywide Financial (NYSE: CFC) said that the idea that the mortgage problems are contained to just the subprime really flatly contradicted it. They said that they were starting to see a lot more late payments and defaults in their prime area.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=2679.

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 by going to http://at.zacks.com/?id=2648.

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

(a)The Zacks Performance Rank performance is the total return of equal weighted simulated portfolios consisting of those stocks with the indicated Zacks Rank net of fees. Results reflect the reinvestment of dividends and other earnings. Simulated results do not represent actual trading and may not reflect the impact that economic and market factors might have had on decision-making if an adviser were actually managing a client's money.

(b)The S&P 500 Index ("S&P 500") is a well-known, unmanaged index of the prices of 500 large-company common stocks selected by Standard & Poor's. The S&P 500 includes the reinvestment of all dividends, no transaction costs, and represents the gross returns before management fees.

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.