Company News for September 10, 2010 - Corporate Summary

• National Semiconductor (NYSE:NSM) posted fiscal first quarter results of 36 cents a share, one cent below estimates, on revenues of $412 million, below consensus projections of $415 million. The company CEO noted, “In the near term, slower growth in our end markets and distribution channel, along with some likely inventory reduction, will mute the seasonal growth that we would normally see in our business during this time of the year,” cutting the near-term revenue outlook to $415 million from $390 million

• Texas Instruments (NYSE:TXN) narrowed guidelines for third quarter sales and earnings

• Nokia (NYSE:NOK) replaced its CEO with Microsoft’s (NASDAQ:MSFT) Stephen Elop

• Piper Jaffray (NYSE:PJC) upgraded Moody’s (NYSE:MCO) to “overweight” from “neutral,” taking the price target from $29 to $31

• Deutsche Bank (NYSE:DB) initiated coverage of Medtronics (NYSE:MDT) at a “buy” rating, and a price target of $43

• Apple (NASDAQ:AAPL) bowed to antitrust pressures with a decision to loosen guidelines for app developers, considered likely to benefit software developer Adobe Systems (NASDAQ:ADBE)

• JBW upgraded Comerica (NYSE:CMA) from “market perform” to “outperform,” taking the price target from $43 to $44

• UBS (NYSE:UBS) downgraded Intuit (NASDAQ:INTU) to “neutral” from “buy”

• Jefferies (NYSE:JEF) upgraded Computer Sciences (NYSE:CSC) to “buy” from “hold,” taking the price target from $47 to $53

• Wells Fargo (NYSE:WFC) downgraded C.R. Bard (NYSE:BCR) to “market perform” from “outperform,” with the target price range of $75-$85

• Citigroup (NYSE:C) upgraded Royal Bank of Scotland (NYSE:RBS) to “buy” from “hold”

• Citi downgraded Barclays (NYSE:BCS) from “buy” to “hold”

Company News for September 10, 2010 – Corporate Summary

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