• Research In Motion Limited (NASDAQ:RIMM) reported first quarter earnings per share of $1.33. While this is marginally higher than the Zacks Consensus EPS Estimate of $1.32 per share, revenue numbers missed expectations of $5.4 billion by roughly half a billion dollars, coming in at $4.9 billion
• KV Pharmaceutical Co. (NYSE:KV-A) announced plans to sell its generics subsidiary, Nesher Pharmaceuticals Inc, as well as the company’s generic business and assets to Zydus Pharmaceuticals (USA), Inc. for nearly $60 million in cash. The transaction is likely to close in Q2FY12
• BPZ Resources, Inc. (NYSE:BPZ) initiated the process to identify and select a partner for its offshore Block Z-1 in northwest Peru
• William Blair initiated coverage on Rockwell Automation Inc. (NYSE:ROK) with a “Market Perform” rating
• Citigroup, Inc. (NYSE:C) downgraded Celestica Inc. (NYSE:CLS) by two notches to “Sell” from “Hold” rating
• UBS AG (NYSE:UBS) upgraded CIENA Corp. (NASDAQ:CIEN) by two notches to “Neutral” from “Sell” rating
• JPMorgan Chase & Co. (NYSE:JPM) upgraded InterMune Inc. (NASDAQ:ITMN) to “Overweight” from “Neutral” rating
• Morgan Keegan initiated coverage on Abbott Laboratories (NYSE:ABT) with an “Outperform” rating
