Zacks Equity Research, Chicago, has declared The Mills Corp. its "Bear of the Day" -- a stock expected to underperform the markets over the next three to six months -- for Sept. 18.Mills is an Arlington, Va., retail real estate investment trust that recently received bids from potential buyers and investors. "The company is dealing with myriad problems, including a restatement of its financial results from 2000 through the first three quarters of 2005, failed developments, and executive departures," Zacks said. "Additionally, the company is under investigation by the [Securities and Exchange Commission] for accounting irregularities." Zacks said the company is struggling and noted that the common dividend has been cut "significantly." It predicted much lower-than-expected earnings when Mills releases its 2005 and year-to-date 2006 results. Zacks can be found online at http://www.zacks.com.
