Company News for October 15, 2010 - Corporate Summary

• General Electric (NYSE:GE) reported better-than-expected third quarter earnings of $0.29 a share, ex-items, beating estimates of $0.27 on revenues that rose 25% to $35.9 billion, below estimates of $37.67 billion as a result of lower equipment sales and reduced GE Capital assets

• Google (NASDAQ:GOOG) reported third quarter earnings of $7.64 a share, beating estimates of $6.68 on revenues that surged 25% to $5.48 billion, well above estimates of $5.25 billion. Google noted, “Our core business grew very well, and our newer businesses – particularly display and mobile – continued to show significant momentum.” Goldman Sachs (NYSE:GS) kept its “buy” rating on Google and lifted the price target to $700 from $625

• Advanced Micro Devices (NYSE:AMD) posted a $0.09 earnings beat, with third quarter results of $0.77 on a 15.7% revenue jump to $1.6 billion, in-line with Street expectations. According to the firm, the company saw, “Solid gross margin and a continued focus on profitability, despite weaker than expected consumer demand”

• Mattel (NYSE:MAT) posted third quarter earnings of $0.77, one cent above estimates, on a 29.6% revenue gain to $1.50 billion, beating consensus expectations of $1.43 billion. Revenue guidance for fiscal 2011 was set at $5.95-$6.00 billion, with earnings $2.54-$2.58 fully diluted expected

• Infosys Technologies (NASDAQ:INFY) beat estimates by $0.04, with fiscal second quarter earnings of $0.65 on a 29.6% revenue increase to $1.50 billion, beating projections of $1.43 billion. Revenue guidance for fiscal 2011 was set at $5.95-$6.00 billion, with earnings $2.54-$2.58 fully diluted expected.

• UBS (NYSE:UBS) upgraded Pulte Homes (NYSE:PHM) from “sell” to “neutral,” with a price target of $8.50

• TPG and KKR (NYSE:KKR) are reportedly in preliminary talks with Seagate Technology (NASDAQ:STX) to take the company private.

• Wells Fargo (NYSE:WFC) initiated coverage of CME Group (NASDAQ:CME) at “market perform,” with a valuation range of $280-$290

Company News for October 15, 2010 – Corporate Summary

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