Company News for September 8, 2010 - Corporate Summary

• Bristol-Meyers (NYSE:BMY) said it agreed to acquire ZymoGenetics (NASDAQ:ZGEN) for $9.75 per share, in a deal valued at 885 million

• A Bloomberg report said Vodafone (NASDAQ:VOD) will sell its stake in China Mobile (NYSE:CHL) for $6.6 billion

• Smithfield Foods (NYSE:SFD) posted inline fiscal first quarter earnings of 46 cents a share on a 6.9% revenue increase to $2.90 billion, below estimates of $3.06 billion

• Phillips-Van Heusen (NYSE:PVH) reported better-than-expected second quarter earnings of 72 cents a share, up from estimates of 54 cents on inline revenues of $1.1 billion, up 108% YoY. The firm also offered upside fiscal 2011 earnings and revenue guidance, with earnings of $3.70-$3.80 and revenues of $4.44-$4.47 billion anticipated

• Navistar (NYSE:NAV) reported estimate-topping second quarter earnings of $1.83 a share, up from estimates of $1.47, on revenues of $3.22 billion, below estimates of $3.55 billion

• UBS (NYSE:UBS) downgraded shares of Intel (NASDAQ:INTC) to “neutral” from “buy,” on slowing demand near-term for PCs

• Goldman Sachs (NYSE:GS) upgraded Staples (NASDAQ:SPLS) to “Conviction Buy” from “neutral,” raising the price target from $22 to $23

• Wells Fargo (NYSE:WFC) initiated coverage of Transocean (NYSE:RIG) with an “outperform” rating and a target price range of $70-$72

Company News for September 8, 2010 – Corporate Summary

SIGN UP TO NEWSLETTER

Free E-Book

Recent Posts