Zacks Brokerage Firm Buy List: General Electric, Lockheed Martin, Nokia, and Procter &...

Business Editors

CHICAGO--(BUSINESS WIRE)--Aug. 6, 2003

Today Zacks.com releases the names of 4 more stocks that are on their coveted Brokerage Firm Buy List portfolio. This portfolio includes just those stocks that currently appear on the core recommended lists of at least three

of the top 15 brokerage firms. These stocks are considered the best large cap stocks to own for the long term according the Wall Streets top players. Here are 4 stocks that are currently members of this prestigious list: General Electric Corp. (NYSE:GE), Lockheed Martin (NYSE:LMT), Nokia Corp. (NYSE:NOK), and The Procter & Gamble Company (NYSE:PG). View the entire list of stocks on the Brokerage Firm Buy List at http://www.buylist1bw.zacks.com

Here is a synopsis of why these stocks are on the Brokerage Firm Buy List:

General Electric Corp. (NYSE:GE) is one of the largest conglomerates in the world. Earlier this month GE announced it has reached a definitive agreement to sell Financial Guaranty Insurance Company to a group of investors led by The PMI Group, Inc. (NYSE:PMI). GE will realize total value from the transaction of approximately $2.16 billion. This transaction is consistent with GE Insurance's strategy to focus its global operations on key segments, while allowing GE to selectively re-deploy capital in new business lines it intends to grow rapidly. Second quarter numbers announced in July were a little disappointing. The company said that as expected, the ramp-down of their turbine shipments in the first half created earnings pressure. However, they are executing with broad-based strength to generate significant growth in the second half of 2003. Positives in the second quarter included nine of thirteen businesses growing in double digits and more favorable comparisons in Power Systems and Insurance. Brighter times are ahead for this blue chip company, which is why four of the top brokerage firms are recommending GE as a Core Holding.

Lockheed Martin (NYSE:LMT) is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. Last month, LMT announced that second quarter 2003 net sales were $7.7 billion, which was a +23% increase over the second quarter 2002 sales of $6.3 billion. Forecasted sales for the year 2004 are anticipated to be between $31.5 billion to $33.0 billion, an increase from the prior estimate. LMT also reported that their sustained focus on program execution, customer satisfaction and disciplined growth is building momentum and resulting in strong organic growth. Several analysts believe that their financial outlook remains positive, thus, putting LMT on their Focus List.

Nokia Corp. (NYSE:NOK) is the world's largest cell phone maker. Nokia's market share in mobile phones is now estimated at 39%, marking both a sequential and year-on-year increase for the second quarter. The company also reported that 14% growth in mobile phone volumes during the quarter was supported with shipments of 13 new models. The company believes that the key to their success has been, and will continue to be, their winning execution and strong competitive position in all major technologies and segments. For the full year 2003, NOK is looking to enhance their leadership with a record launch of more than 35 new models. Exciting new products are only half the story with this technology giant. Even though the company took a charge in the second quarter for personnel reductions, five of the top fifteen-brokerage houses list the company as a Core Recommendation for long-term investors.

The Procter & Gamble Company (NYSE:PG) manufactures and markets a broad range of consumer products in many countries throughout the world. On July 31, 2003, Proctor & Gamble reported strong growth for the April - June quarter and the fiscal year ended June 30, 2003, exceeding expectations. The company delivered excellent top line growth behind strong volume. In addition, the company achieved excellent cash flow productivity for the fiscal year behind higher earnings, lower capital spending and working capital improvement. For the quarter ended June 30, 2003, unit volume grew +5% over the prior year behind another quarter of double-digit growth in the health care business and continued strong results in Asia and Central and Eastern Europe. Net sales were $10.92 billion. Excluding restructuring impacts in the prior period, sales were up +8% versus year-ago. The company looks to be headed in the right direction and several top brokerage firms have PG on their Focus Lists.

To discover all the other profitable stock portfolios at Zacks.com then follow this link http://www.stockportfoliosbw.zacks.com

About Zacks Brokerage Firm Buy List

Zacks has developed many successful ways for individual investors to profit from the stock picking prowess of Wall Street professionals. The Brokerage Firm Buy List is yet another powerful tool that investors can wield in order to improve their investment results. This portfolio is comprised of the core stocks recommended by at least 3 of the Top 15 brokerage firms. These are the kind of large cap stocks that are best for long term investors. To learn more about the Brokerage Firm Buy List then visit http://www.buylist2bw.zacks.com

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