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Zacks Analyst Blog Highlights: Schlumberger Ltd., Amylin Pharmaceuticals, Inc., Eli Lilly & Co., Onyx Pharmaceuticals, Inc. and Diageo Plc. 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: Schlumberger Ltd. (NYSE: SLB), Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN), Eli Lilly & Co. (NYSE: LLY), Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) and Diageo Plc. (NYSE: DEO).

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Here are highlights from Wednesdays Analyst Blog:

Schlumberger a Buy on Valuation

Schlumberger Limited (NYSE: SLB) is a leading oilfield services company, providing technology, project management, and information services to the global oil and gas industry. The Oilfield Services segment provides a broad range of services and solutions to the oil and gas industry, including drilling fluids, direction drilling and real-time drilling analysis, and project management.

Last week, we upgraded Schlumberger shares to Buy from Hold following the stock's massive pullback, which has made valuation very compelling for this quality oilfield service name. Schlumberger has limited direct credit-market exposure, given its strong balance sheet strong operating cash flows.

Lilly Provides Support to Amylin

Amylin (Nasdaq: AMLN) reported financial results for the third quarter on October 21, 2008. Total revenues increased by 15% over the same period in 2007 to $218.4 million during the third quarter. Revenues consisted of $179.9 million in sales of Byetta, $21.5 million in sales of Symlin, and $17.0 million in collaborative revenues.

We have been cautious on Amylin since the beginning of the year, and we are still unconvinced that LAR (a once-weekly exenatide product) will be approved on its first-cycle FDA review. However, with the shares trading at multi-year lows, and the stock down 65% YTD, we no longer believe our SELL call is actionable. Lilly's (NYSE: LLY) obvious commitment to Byetta and LAR will probably put a floor under further price declines.

Onyx Pharma Bullish on Nexavar

Onyx Pharma (Nasdaq: ONXX) is engaged in the development of novel cancer therapies that target the molecular basis of cancer. With its collaborator Bayer Healthcare, Onyx Pharma is developing a small molecule drug Nexavar (sorafenib).

The European Union (EU) and U.S. have approved Nexavar for 1st line treatment of liver cancer in the 4th quarter of 2007. In Asia, South Korea and China have approved Nexavar for liver cancer.

Diageo Risk/Reward Balanced

We are maintaining our Hold recommendation on Diageo (NYSE: DEO). Diageo is a global consumer goods company, operating in over 180 markets around the world and was formed by the merger of Grand Metropolitan Public Limited Company and Guinness, Plc, in 1997.

The company's full-year results showed strong sales of scotch in Latin America, beer in Africa, and premium brands in North America. The earnings met Diageo's outlook of a 9 percent rise in operating profit and a 7 percent lift in sales.

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