Zacks Analyst Blog Highlights: Coca-Cola FEMSA SA de CV, Weatherford International Ltd, Durect Corp, Endo Pharmaceuticals and Jones Lang LaSalle Inc.

Business Wire, March 06, 2009

CHICAGO -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Coca-Cola FEMSA SA de CV (NYSE: KOF), Weatherford International Ltd (NYSE: WFT), Durect Corp (NASDAQ: DRRX), Endo Pharmaceuticals (NASDAQ: ENDP) and Jones Lang LaSalle Inc (NYSE: JLL).

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Here are highlights from Thursday’s Analyst Blog:

Coca-Cola FEMSA Well-Positioned

We are keeping our Buy recommendation on Coca-Cola FEMSA SA de CV (NYSE: KOF). The company posted positive operating results for the 4th quarter of 2008, mainly considering the difficult economic situation.

Moreover, the results in the Mercosur and Latincentro division were particularly impressive. The recent acquisitions will enhance company's top-line growth despite the difficult economic environment throughout the world.

Weatherford to Start Paying Off

Weatherford International Ltd (NYSE: WFT) is a leading manufacturer and provider of equipment and services used in drilling, completion, and production of oil and natural gas wells. The company reorganized its operations along geographical lines, creating the 4 new segments of North America, Latin America, Europe/West Africa/CIS, and Middle East/North Africa/Asia.

Weatherford's 4th-quarter 2008 earnings, though modestly lower than our estimates, were above the year-earlier levels. Looking forward, a positive outlook for its integrated project management expertise, an improved cost structure in North America, and an expected double-digit growth in international business will help the company to weather current downturn.

Better Times Ahead for Durect

Durect Corp (NASDAQ: DRRX) has had a rocky past few months. The stock was hit harder than we expected in December 2008 when the FDA rejected the application on Remoxy. From our standpoint, the rejection of the NDA was not a surprise, but the reaction for Durect stock was.

Nevertheless, we think the FDA's issues -- most likely around the labeling, the abuse ability and the risk management program -- should only delay final approval by a year. We think that Remoxy will be on the market and generating royalties for Durect by the middle of 2010.

The 2nd big sell-off in the stock came in early March 2009 when Durect announced that Transdur development partner, Endo Pharmaceuticals (NASDAQ: ENDP), was returning U.S. and Canadian rights to the product to Durect. The news came as a big shock to us considering the duo just recently met with the FDA for an "end-of-phase II" meeting and outlined a path to approval with a phase III program.

Jones Lang Best in Tough Market

Chicago-based Jones Lang LaSalle Inc (NYSE: JLL) is a leading full-service real estate firm that provides corporate, financial, and investment management services. The company caters to corporations and other real estate owners, users, and investors worldwide.

JLL reported net income of $1.17 per share in 4Q08 compared to $3.16 in 4Q07. Full year earnings were $2.44 per share vs. $7.64 in 2007. Excluding nonrecurring charges, full year earnings were $3.71 per share. The company's Americas region performed well in the quarter while Asia and Europe lagged. Transaction and leasing volumes declined in 2008, and this year will not be much better.

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