Zacks #1 Rank Top Performers: Iomega, GameStop, MEMC Electronic Materials, Whiting Petroleum and MasterCard

Business Wire, March 18, 2008

CHICAGO -- Zacks.com announces the latest list of top performing Zacks #1 Rank ("strong buy") stocks. The stocks on the prestigious list with the highest returns last week were Iomega Corporation (NYSE: IOM), GameStop (NYSE: GME), MEMC Electronic Materials, Inc. (NYSE: WFR), Whiting Petroleum Corporation (NYSE: WLL) and MasterCard, Inc. (NYSE: MA). Each of these stocks easily outperformed the S&P 500.

Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of 32% 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 learn more about the Zacks Rank, go to http://at.zacks.com/?id=3172.

Here is a synopsis of the last week's best performing Zacks #1 Rank stocks.

Iomega Corporation (NYSE: IOM) recently received a second offer from EMC Corporation, which it found to be much more to its liking than a previous offer from the tech giant. In fact, IOM said that the revised offer is a "superior proposal" to an all-stock transaction with a group of other parties. EMC's new offer is for $3.75 per share, versus the previous offer of $3.25.

Iomega, which is a leader in storage and network security solutions, was the top-performing Zacks #1 Rank company last week as shares advanced almost 23%. It was the company's second appearance on the list in three weeks. Earnings estimates for this year are up 24% over the past two months after IOM raised its 2008 financial guidance. Revenue gained 58% in the fourth quarter and 47% for the full year.

GameStop (NYSE: GME) is scheduled to report its fiscal fourth-quarter results today, Mar 18, and many analysts are expecting another solid performance for the video game retailer. The company beat profit expectations in each of the last four quarters with an average surprise of approximately 33%. Leading up to the announcement, GME shares moved higher by almost 15% for the week ended Mar 14. Over the past three months, earnings estimates for the year ended January 2008 and the year ending January 2009 are up 7.2% and 5.8%, respectively. That includes a gain of 1.1% in the past 30 days for the former timeframe.

GME is capitalizing on a vibrant video game industry. According to NPD Group, industry sales topped $1.3 billion in February, with U.S. software sales and hardware sales up 47% and 19%, respectively. In mid-February, GME raised its earnings guidance for the fiscal fourth quarter and fiscal year, as preliminary same-store sales in the quarter jumped 17.4%.

MEMC Electronic Materials, Inc. (NYSE: WFR) was a top-performing Zacks #1 Rank last week as shares gained almost 9.4%. The company, which makes wafers for semiconductor manufacturers, has a solid track record for beating Wall Street's quarterly profit expectations. WFR topped expectations in each quarter of 2007 with an average surprise of approximately 5%. Analysts have raised the company's earnings estimates for this year by 6.2% over the past two months. WFR was featured as an Aggressive Growth Stock of the Day at Zacks.com on Mar 14.

WFR is performing better than many in its industry thanks in part to its solar business. Fourth-quarter net sales reached $535.9 million, which was up 27.4% from $420.6 million last year. On a sequential basis, sales advanced 13.3%. Sales growth was attributed to higher product volumes. Meanwhile, earnings per share exceeded the consensus and improved year over year. Given strong demand from solar application customers, WFR forecasted first quarter sales of $560 million. For the full year, sales growth is expected between 25% and 30% with non-GAAP EPS growth of about 40%.

Whiting Petroleum Corporation (NYSE: WLL) announced solid fourth-quarter results in late February, including its third straight positive earnings surprise. EPS of $1.08 beat the consensus by 12.5% and surpassed the year-ago total. Revenue also improved from last year. Shares of the energy exploration company gained almost 9.4% last week, which was enough to make the Zacks #1 Rank top performers list.

Looking forward, Whiting Petroleum expects to boost production in 2008. Earnings estimates for this year have been trending higher for a while now, including gains of 15.2% in the past two months and 3% in just the past seven trading days.

MasterCard, Inc. (NYSE: MA) has enjoyed rising earnings estimates for several months. Expectations for this year moved higher 7.9% over the past two months, and estimates for next year are following suit. Thus far in March, the company has been featured as a Growth & Income Stock of the Day and a Momentum Stock of the Day at Zacks.com. Shares rose 8.4% for the week ended Mar 14.

The industry is currently buzzing about Visa's upcoming IPO; the largest in U.S. history. But MA has been making good and positive news for a while now, due, in part, to its exposure to growing international markets. Excluding a gain, MA reported fourth-quarter earnings per share of 89 cents, which beat the consensus by more than 23%. Net revenues moved higher by 28% to $1.07 billion. The company attributed results to its global business model, which helped worldwide purchase volume rise 16.1%.