Vimpel-Communications (VIP)

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Zacks Sell List Highlights: Vimpel-Communications, Waddell & Reed Financial Inc, Dean Foods Co., Tech Data Corp.

Friday , December 05, 2008 15:41ET

CHICAGO, Dec 05, 2008 (BUSINESS WIRE) -- Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List - Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Vimpel-Communications (NYSE: VIP) and Waddell & Reed Financial Inc (NYSE: WDR). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Dean Foods Co. (NYSE: DF) and Tech Data Corp (NASDAQ: TECD). To see the full Zacks #5 Rank List - Stocks to Sell Now visit: http://at.zacks.com/?id=92

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List -- Stocks to Sell Now by 80% annually (+2% versus +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why VIP and WDR have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:

Vimpel Communications' (NYSE: VIP) third-quarter profit plunged 41% as the Russian telecommunications operator suffered a $341 million foreign exchange loss thanks to the ruble's depreciation against the dollar. For the quarter, earnings totaled $268.6 million, or 27 cents per share, below analyst estimates of 47 cents. For the current year, analysts are expecting a profit of $1.74. The company has cut its capital expenditure plans and is also implementing a hiring freeze in the face of a global economic downturn.



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