Zacks Analyst Blog Highlights: Bristol-Myers Squibb, Inc., Diamond Offshore Drilling, Inc., Carnival Corporation, Carnival, Plc and Hudson City Bancorp, Inc.

CHICAGO--(BUSINESS WIRE)--Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Bristol-Myers Squibb, Inc. (NYSE: BMY), Diamond Offshore Drilling, Inc. (NYSE: DO), Carnival Corporation (NYSE: CCL), Carnival, Plc (NYSE: CUK) and Hudson City Bancorp, Inc. (NASDAQ: HCBK).

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Here are highlights from Monday’s Analyst Blog:

Bristol-Myers a Top Pick

Bristol-Myers Squibb, Inc. (NYSE: BMY) remains one of our top-picks in the pharmaceutical industry for 2009. We like Bristol for a number of reasons, including the company's solid financial position, a deep pipeline with significant biologic exposure, and turnaround/acquisition potential.

Bristol also offers a big dividend of $1.24 per share (recently confirmed Thursday), which yields 5.5%. The company has the lowest exposure to foreign exchange translation among its U.S. peers, and is expected to grow the bottom-line by approximately 11% CAGR [compound annual growth rate] through 2012.

Diamond Offshore: Lots of Value

Houston, Texas-based Diamond Offshore Drilling, Inc. (NYSE: DO) is a major contract driller, providing comprehensive offshore drilling services to the global energy industry. The company's drilling fleet consists of 30 semi-submersibles (9 of these are high-specification rigs, capable of providing deepwater drilling services), 15 jackups (including the recently delivered Ocean Shield and Ocean Scepter), and a dynamically positioned drillship.

Our continued favorable view of Diamond shares reflects the company's strong leverage to the still positive outlook for deepwater drilling despite the pullback in oil prices and continued credit market turmoil. The company's $11.5 billion backlog provides for a very high level of earnings and cash flow visibility.

Carnival Expects Rougher Waters

As a single economic entity, Carnival Corporation (NYSE: CCL) & Carnival, Plc (NYSE: CUK) is the largest cruise operator in the world. Carnival's cruise ships offer various itineraries to passengers worldwide under leading cruise brands.

We maintain our Hold rating for Carnival Corporation following the release of Q4 financial results. Given our expectation for continuing margin pressures and potential demand weakness, we do not feel that material price appreciation is warranted at this time.

Hudson City Bank Stays a Sell

New York-based Hudson City Bancorp, Inc. (NASDAQ: HCBK) is now the largest thrift in the nation, based on either assets (>$50 billion) or market capitalization (>$8.0 billion).

HCBK's 3Q08 earnings of $0.25 per share were in line with our expectations. Results again experienced strong lending revenues from enhanced net interest margin, even though provisioning levels increased and other credit quality metrics expanded.

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