Zacks Bull and Bear of the Day Highlights: Onyx Pharmaceuticals, Allegheny Technologies, CBRE Group, Staples and Jones Lang

  Zacks Bull and Bear of the Day Highlights: Onyx Pharmaceuticals, Allegheny
           Technologies, CBRE Group, Staples and Jones Lang LaSalle

PR Newswire

CHICAGO, Dec. 5, 2012

CHICAGO, Dec. 5, 2012 /PRNewswire/ -- Zacks Equity Research highlights Onyx
Pharmaceuticals (Nasdaq:ONXX) as the Bull of the Day and Allegheny
Technologies (NYSE:ATI) as the Bear of the Day. In addition, Zacks Equity
Research provides analysis on CBRE Group Inc. (NYSE:CBG), Staples, Inc.
(Nasdaq:SPLS) and Jones Lang LaSalle Inc. (NYSE:JLL).


Full analysis of all these stocks is available at

Here is a synopsis of all five stocks:

Bull of the Day:

We are upgrading Onyx Pharmaceuticals (Nasdaq:ONXX) to Outperform based on the
company's strong third quarter results and improving prospects. Onyx reported
solid third quarter results with revenues increasing 19.3% to $89.5 million,
well above the Zacks Consensus Estimate of $81 million.

Third quarter 2012 loss of $0.89 per share was narrower than the Zacks
Consensus Estimate of a loss of $1.08. Recently launched Kyprolis is off to a
solid start and the strong ramp should continue.

Loss estimates for both 2012 and 2013 have gone down and the Zacks Rank has
moved to #2 (short-term Buy rating) from 3 (short-term Hold rating). With two
back-to-back product approvals to its credit, Onyx has successfully
transformed itself from a one-product company to a multiple-product company.

Bear of the Day:

We are retaining our Underperform recommendation on Allegheny Technologies
(NYSE:ATI) following its disappointing third quarter results. Both revenues
and earnings missed Zacks Consensus Estimates. Profit tumbled year over year
as sluggish economic conditions hurt demand for the company's products.

The company cut its sales forecast for 2012. While Allegheny is expected to
continue benefiting from its new alloys/products and diversified global growth
markets, it is contending with a soft economy and raw material cost pressures.
Moreover, reduced raw material surcharges and low base prices for standard
stainless products are affecting the results of the company's Flat-Rolled
Products division.

Our long-term Underperform recommendation on the stock indicates that it will
perform below the market. Our price target of $24 is based on 16x our fiscal
2012 earnings estimate.  

Latest Posts on the Zacks Analyst Blog:

CBRE Group Appoints New CEO

CBRE Group Inc. (NYSE:CBG), the world's largest commercial real estate
services firm in terms of 2011 revenues, announced the retirement of its Chief
Executive Officer (CEO), Brett White, on November 30, 2012. As previously
announced, Robert E. Sulentic took over the reins on December 1, 2012.

Brett White had led CBRE Group as CEO since 2005. During his seven year
tenure, he contributed towards growth of client services and global
capabilities of the company. His major achievement includes the acquisition of
'ING Real Estate Investment Management' (ING REIM) business in 2011, a major
revenue driver to date.

CBRE Group has now completed the integration of the acquired business in its
existing Global Investment Management (GIM) segment. Thus, we think that White
has positioned the company as necessary to boost its long term strategy of
providing premium client services, and thereby, enhance the global real estate
services brand.

Robert E. Sulentic joined CBRE Group in 2006 with the acquisition of Trammell
Crow Company, where he had served as CEO. He was appointed President of CBRE
Group in 2009 and will retain his current position, along with the new
responsibility. Sulentic also joined the Board of Directors and Global
Operating Committee of CBRE Group. Alongside, he is on the Board of Directors
of an office product manufacturing retailer - Staples, Inc. (Nasdaq:SPLS).

We believe that Sulentic's vast know-how and expertise will prove beneficial
for CBRE Group. We expect the company to reach new heights in terms of ongoing
client services improvement and portfolio expansions.

As a point of reference, one of CBRE Group's peers – Jones Lang LaSalle Inc.
(NYSE:JLL) – recently announced the transition of two senior executives. Peter
Roberts, the current CEO of the Americas region, will move to the post of
Chief Strategy Officer effective January 1, 2013. Concurrently, the company
announced Lauralee Martin as his successor.

CBRE Group is the global market leader in commercial real estate brokerage and
advisory services for property leasing and sales, forecasting, valuations,
origination and servicing of commercial mortgage loans, as well as project and
real estate investment management. The company's extensive knowledge of
domestic and international real estate markets enables it to operate as a
single-source provider of real estate solutions.

CBRE Group, however, reported relatively unimpressive results in the third
quarter of 2012, with earnings missing the Zacks Consensus Estimate by 7
cents, as the sovereign debt crisis in Europe and a slow growth trajectory in
Asia held back its momentum.

We have a long-term Neutral recommendation on CBRE Group. It carries a
short-term Zacks #5 Rank (Strong Sell).

Get the full analysis of all these stocks by going to

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are
likely to outperform (Bull) or underperform (Bear) the markets over the next
3-6 months.

About the Analyst Blog

Updated throughout every trading day, the Analyst Blog provides analysis from
Zacks Equity Research about the latest news and events impacting stocks and
the financial markets.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative
analysis to help investors know what stocks to buy and which to sell for the

Continuous analyst coverage is provided for a universe of 1,150 publicly
traded stocks. Our analysts are organized by industry which gives them keen
insights to developments that affect company profits and stock performance.
Recommendations and target prices are six-month time horizons.

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

About Zacks is a property of Zacks Investment Research, Inc., which was formed
in 1978 by Leonard Zacks. As a PhD from MIT 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 at

Visit for information about the performance
numbers displayed in this press release.

Follow us on Twitter:

Join us on Facebook:

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.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339

SOURCE Zacks Investment Research, Inc.

Press spacebar to pause and continue. Press esc to stop.