STOCK PICKS: Top Five Fast-Growth Stocks for Oct. 13

Each business day, TheStreet.com Ratings compiles a list of the top five stocks in one of five categories -- fast-growth, all-around value, large-cap, mid-cap and small-cap -- based on data from the close of the previous trading session. Today, fast-growth stocks are in the spotlight.

These are stocks of companies that are projected to increase revenue and profit by at least 12% in the coming year and rank near the top all stocks rated by our proprietary quantitative model, which looks at more than 60 factors.

In addition, the stocks must be followed by at least one financial analyst who posts estimates on the Institutional Brokers' Estimate System. Please note that definitions of revenue vary by industry, and this screen does not make adjustments for acquisitions, which can materially affect posted results. Likewise, earnings-per-share growth may be affected by accounting charges, share repurchases and other one-time items.

Note that no provision is made for off-balance-sheet assets such as unrealized appreciation/depreciation of investments, market value of real estate or contingent liabilities that might affect book value. This could be material for some companies with large underfunded pension plans.

Alcon(ACL Quote) is a research-and-development-driven global medical specialty company focused on eye care. Alcon has been rated a buy since September 2004. Our rating is based on the company's solid revenue growth, strong sales growth from its key products, and increasing earnings. A healthy cash position, new product launches, and regulatory approvals further support the rating.

For the second quarter of fiscal 2008, Alcon reported that its net earnings rose 26.3% year over year to $566.4 million. The increased earnings combined with strong volume growth to boost total sales by 17.9%, from $1.47 billion in the second quarter of fiscal 2007 to $1.74 billion in the most recent quarter. Gross profit margin improved to 78.63% from $78.42%, while operating margin advanced 75 basis points to 37.21%. In addition, Alcon announced that it would build a fully functional pharmaceutical manufacturing plant in Singapore by 2012 in order to take advantage of growing demand in Asia. The company also received Food and Drug Administration approval for its Patanase nasal spray, which is used in the treatment of symptoms associated with allergic rhinitis.