Zacks Buy List Highlights: Applera Corp-Applied Biosystems Group, Cal Dive International, Avery Dennison Corp., and Black & Decker Corporation.

CHICAGO -- Zacks.com releases another list of stocks that are currently members of the coveted Zacks #1 Rank (Strong Buy) List. The #1 Rank stocks highlighted today are Applera Corp-Applied Biosystems Group (NYSE:ABI) and Cal Dive International, Inc. (NASDAQ:CDIS). Further, Zacks announced #2 Rankings (Buy) on two other widely held stocks: Avery Dennison Corp. (NYSE:AVY) and Black & Decker Corporation (NYSE:BDK). To see the full Zacks #1 Rank (Strong Buy) List, or the rank for any other stock, visit: http://at.zacks.com/?id=88

Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of +33% 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%.

Here is a synopsis of why ABI and CDIS have a Zacks Rank of 1. Note that a #1 Strong Buy rating is applied to only 5% of all the stocks Zacks ranks:

Applera Corp-Applied Biosystems Group (NYSE:ABI) recently released fiscal first-quarter non-GAAP earnings of 24 cents per share. The result topped the consensus estimate by about 14% and outperformed last year's 18 cents. The company said it saw solid, balanced performance across all of its major product categories with growth in both instruments and consumables. Earnings estimates for the year ending June 2006 moved up six cents, or about 5%, from one month ago.

Cal Dive International, Inc. (NASDAQ:CDIS) recently reported third-quarter earnings of $1.05 per share, exceeding the consensus estimate by approximately 22% and improving on last year's 59 cents. The company mentioned that due to the strength of its business model, it produced another record quarter for both earnings and cash flow. CDIS expects full year 2005 earnings between $3.15 and $3.35 per share. Analysts agree as evidenced by the six cent increase in earnings estimates over the past seven trading days. Most recent estimates were pegged at $3.27 per share for the year ending in December.

Here is a synopsis of why AVY and BDK have a Zacks Rank of 2 (Buy). Note that a #2 Buy rating is applied to 15% of all the stocks ranked by Zacks:

Avery Dennison Corp. (NYSE:AVY) recently posted third-quarter earnings of 86 cents per share, beating last year's 75 cents and jumping ahead of the consensus estimate by about 10%. The company noted that profits increased due to improved pricing and product mix, as well as a reduction in operating expenses and the tax rate. Reflecting improved profitability and the reduction in its tax rate, Avery Dennison raised its full year 2005 earnings-per-share forecast to a range of $3.28 to $3.43. Analysts followed suit, bringing current estimates to $3.29 per share, which is almost 7% above one month ago levels.