Swing Stocks to Watch September 22, 2009

ConAgra Foods, Inc., (CAG): Founded in 1919, headquartered in Omaha, Nebraska, ConAgra Foods is a branded foods company. Some of Its brands include, Healthy Choice, Chef Boyardee, Egg Beaters, Hebrew National, Hunt's, Orville Redenbacher's, PAM, and Banquet. The company operates in two segments, Consumer foods and Commercial Products. The consumer food segment manufactures and markets leading branded products to retail and food service customers in United States and Internationally. The commercial products segment manufactures and sells a variety of specialty products to food service and commercial customers worldwide. Major brands include; Lamb Weston, a leading producer of quality frozen potato products and top supplier to food services chain and distributors worldwide. The company also supply Ultragrain whole wheat flour and Sustagrain barley; Vegetables, garlic, onions, and capsicum ingredients.

On Thursday June 25, 2009, ConAgra Foods announced its fourth quarter earnings, and said that it earned $174.7 million or 39 cents a share for the three months ended May 31, 2009. That's down from $201.3 million or 41 cents per share in the same quarter a year ago.

In past three quarters, prior to the quarter above, the company produced better than expected results by an average of 14.2%. Market is expecting a profit of 34 cents for the quarter ended August 2009, which is 7 cents above its actual profit it posted a year ago in the same quarter.

CAG is in my BUY watch list for short term trading. Next earnings for the quarter ended August 2009 is scheduled to be released at 7:30 AM eastern on September 22, 2009.

CarMax, Inc., (KMX): Founded in 1993, headquartered in Richmond, Virginia, CarMax currently operates 100 used car superstores in 46 markets in United States. The company also sells new vehicles under various franchise agreements, as well as engages in wholesale vehicle sales. It also finances it vehicle purchases through its own finance operation under CarMax Auto Finance, as well as third party lenders.

The company opened 11 superstores in fiscal year 2009, and plan to open 5 to 10 more superstores in fiscal year 2010.

CarMax reported earnings of 11 cents per share for the quarter ended May 2009, 7 cents more than the expected. Market is expecting a profit of 18 cents for the quarter ended August 2009, which is 12 cents more than its actual posted profit in the same quarter a year ago.

KMX is in my BUY watch list for short term trading. Earnings release for the quarter ended August 2009 is scheduled to be released on September 22, 2009, before market open.