Company News for May 23, 2011 - Corporate Summary

• Shares of Morgan Stanley (NYSE:MS) were guided lower after FrontPoint Partners LLC decided to close some of its hedge funds in which Morgan Stanley holds a minor stake by this month

• After a regulatory filing disclosed that the chief scientist of Akamai Technologies Inc. (NASDAQ:AKAM) had purchased 50,000 shares of its stock, the company’s shares jumped 5.1%

• Salesforce.com Inc. (NYSE:CRM) reported first quarter fiscal 2012 adjusted net income of 6 cents per share, a penny ahead of the Zacks Consensus Estimate. Revenues for the quarter were $504.4 million, up 33.9% from $376.8 million in the year-ago quarter. Results exceeded the company’s own guidance range of $480.0 million to $482.0 million and the Zacks Consensus Estimate of $483.0 million

• Bank of America (NYSE:BAC) has decided to sell off its left over stake in BlackRock (NYSE:BLK) for $2.5 billion

• Citigroup upgraded The AES Corporation (NYSE:AES) to Buy from Hold

• Piper Jaffray upgraded Sprint Nextel Corp. (NYSE:S) to Overweight from Neutral

• Piper Jaffray downgraded Gap Inc (NYSE:GPS) to Neutral from Overweight

• Liberty Media Corp. offered to buy Barnes & Noble, Inc. (NYSE:BKS) for $17 a share

• A European regulatory panel recommended approval of Acorda Therapeutics, Inc.’s (NASDAQ:ACOR) multiple-sclerosis drug

Company News for May 23, 2011 – Corporate Summary

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