Zacks Issues 'Sell' Advice on MGIC

Zacks.com, the online edition of Zacks Investment Research, Chicago, has issued a "4(Sell)" ranking to MGIC Investment Corp., Milwaukee.The report notes that MGIC reduced its earnings estimates for 2003. "However, predictions for next year have improved in [the past seven trading days], which bodes well for the company moving forward," said Zacks.com. "Once these economic conditions begin to strengthen, MGIC should see much better results. However, for the moment, times are tough and investors may want to consider refraining from opening or deepening a position in MGIC until its earnings estimate numbers improve." Stocks with a "4(Sell)" rank should be sold or avoided in the next one to three months, according to Zacks. The company can be found online at http://www.zacks.com.