CHICAGO, Oct. 21, 2011 /PRNewswire/ -- 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 AT&T (NYSE: T), Eli Lilly (NYSE: LLY), eBay (Nasdaq: EBAY), Microsoft (Nasdaq: MSFT) and Yahoo (Nasdaq: YHOO).

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Here are highlights from Thursday's Analyst Blog:

Europe, Geopolitics Mix with Earnings

We have a slew of earnings and economic reports to keep the market engaged today, but it may still be difficult for stocks to ignore developments in Europe in the run up to the weekend summit meeting. The earnings season is proceeding as expected, with no major negative surprises, though it is a little weaker thus far than what we saw in the second quarter. Given some of the more exaggerated fears, however, quarterly results are just fine.

On the economy front, the Jobless Claims data was broadly inline with expectations. Coming up a little later are the Philly Fed and Leading Economic Indicators reports. Notwithstanding all of these reports, the focus remains on Europe. If we can get something resembling a viable plan over the weekend, the market will break out of its two months old trading range and head higher.

Weekly Jobless Claims dropped by 6K last week to 403K, while the prior week's level was revised upwards to 409K from the original 404K. The four-week average dropped 6.2K to 403K, the lowest level in two months. The claims data has for all practical purposes stalled in the last few weeks after making a dramatic drop in late September. On balance, though, the trend is in the right direction, though the pace of improvement is very slow.

On the earnings front, AT&T (NYSE: T) met earnings expectations, but modestly missed on the top line. The number of iPhone activations during the quarter was the weakest in over a year, likely reflecting buyers waiting for the new model that was released after the quarter.

Eli Lilly (NYSE: LLY) also came inline with earnings expectations, though it managed to come ahead of revenue expectations. With its key blockbuster drugs losing patent protection, Lilly is gearing up for a tough competitive environment.

eBay (Nasdaq: EBAY) came out with inline quarterly results after the close on Wednesday, but the company provided a tepid outlook for the critical holiday season. Microsoft (Nasdaq: MSFT) is reportedly discussing plans with private equity firms to make a bid for Yahoo (Nasdaq: YHOO).

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