Company News for October 14, 2010 - Corporate Summary

• Barclays (NYSE:BCS) cut its price target for Microsoft (NASDAQ:MSFT) to $28 from $30, but maintained its “equal weight” rating and affirmed a first quarter estimate of 55 cents on revenues of $15.72 billion. Barclays cited Wednesday reports from IDC and Gartner that third quarter PC shipments were below projections, for the price target cut

• Nomura Securities raised its ratings for Vodafone (NASDAQ:VOD) from “neutral” to “buy”

• Rio Tinto (NYSE:RIO) maintained its 2010 production guidance

• S&P raised its ratings for Sirius (NASDAQ:SIRI) to B+, outlook “stable”

• Apollo Group (NASDAQ:APOL) posted fourth-quarter earnings of $1.31 a share on a 17.3% revenue gain to $1.3 billion, inline with Street estimates. The firm withdrew its prior 2011 enrolment guidance, however, anticipated a significant drop in University of Phoenix enrolment

• Lockheed Martin (NYSE:LMT) announced plans to sell its Enterprise Integration Group unit to a NY private equity firm for $815 million

• Wal-Mart (NYSE:WMT) announced plans to shift its US emphasis on supercenters to small to medium-sized stores, intending to open 30-40 such stores

• WSJ reported AOL (NYSE:AOL), along with several private equity firms, including Silver Lake Partners and Blackstone (NYSE:BX), may be considering the acquisition of Yahoo (NASDAQ:YHOO)

• Deutsche Bank (NYSE:DB) upgraded Ford (NYSE:F) from “hold” to “buy,” taking the price target from $14.50 to $19.50

• FBR reiterated its “outperform” on JP Morgan (NYSE:JPM), with a $45 price target

Company News for October 14, 2010 – Corporate Summary

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