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Zacks #1 Rank Top Performers: AMR Corporation, Allegiant Travel, El Paso Pipeline Partners, Pengrowth Energy Trust and Layne Christensen

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 AMR Corporation (NYSE: AMR), Allegiant Travel Company (NASDAQ: ALGT), El Paso Pipeline Partners, L.P. (NYSE: EPB), Pengrowth Energy Trust (NYSE: PGH) and Layne Christensen Company (NASDAQ: LAYN). Each of these stocks easily outperformed the S&P 500.

Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of +30% 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 weeks best performing Zacks #1 Rank stocks.

Despite being hurt by higher fuel costs, shares of AMR Corporation (NYSE: AMR) gained more than 41% last week. Analysts continue to expect a loss for this year, but it has been narrowing for several months now. That includes a narrowing of $2.43 over the past 2 months and 50 cents in just the past 7 days.

Excluding special items, AMR reported a loss of $1.39 per share for its third quarter, which was narrower than the consensus at $1.46. The company primarily attributed its loss to fuel prices, and outlined several additional steps to address its needs in the short- and long-terms. In addition, AMR announced a purchase agreement with Boeing.

Allegiant Travel Company (NASDAQ: ALGT) made the Zacks #1 Rank Top Performers List for last week as shares jumped approximately 33%. Earnings estimates for this year are up more than 36% over the past 2 months and about 2.8% over the past 30 days. Furthermore, analysts currently expect next year's earnings to be about 135% better than this year.

ALGT is focused on linking travelers in small cities to world-class leisure destinations, such as Las Vegas, Phoenix, Fort Lauderdale, Orlando and Tampa/St. Petersburg.

El Paso Pipeline Partners, L.P. (NYSE: EPB) gained 28.8% for the week ended Oct 17, giving the company a spot on the Zacks #1 Rank Top Performers List. Earnings estimates for this year have gained 7.8% over the past 2 months, while expectations for next year are up 11.8%. In addition, analysts currently expect next years profit to improve about 14.5% over this year.

EPB, which was featured as a Momentum Stock of the Day at Zacks.com on Oct 21, will announce its third-quarter results in early November. For its second quarter, the company announced earnings per share of 29 cents, which bettered the consensus by 16%. In addition to its performance, the company is pleased with its continued progress on expansion projects.

Pengrowth Energy Trust (NYSE: PGH) was a top-performing Zacks #1 Rank last week as shares advanced 28.3%. Its analyst earnings estimate for this year is up almost 42% from 1 month ago.

PGH will report its third-quarter results in early November. In its second quarter, the company announced earnings per share that bettered the year-ago result while beating the consensus.

Layne Christensen Company (NASDAQ: LAYN) was featured as a Value Stock of the Day at Zacks.com on Oct 17. The company made the Zacks #1 Rank Top Performers List for last week as shares climbed 28.3%. LAYN provides sophisticated services and related products for the water, mineral and energy markets.

Earnings estimates for this fiscal year, ending January 2009, are up 9.2% over the past 2 months, including a gain of 1.6% in 30 days. Expectations for next fiscal year, ending January 2010, are higher by 4.5% from 2 months ago. For its fiscal second quarter, earnings per share of 78 cents topped the year-ago level of 60 cents and beat the consensus by 25.8%. Revenues jumped almost 24% to $269.6 million.

About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank stocks have generated an average annual return of +30%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have underperformed the S&P 500 by 81% annually (+2 % vs. +11%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

To view the current Zacks #1 Rank List and to see additional Zacks Rank resources, go to http://at.zacks.com/?id=3173.

Zacks "Profit from the Pros" e-mail newsletter offers continuous coverage of Zacks Rank stocks and highlights those stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=3168.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics 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 by going to http://at.zacks.com/?id=3169.

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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.

Contacts:

Zacks.com
Jim Giaquinto
Phone: 312-265-9268
Email: pr@zacks.com
Visit: www.Zacks.com

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