Company News for January 05, 2011 - Corporate Summary

• Qualcomm (NASDAQ:QCOM) has announced plans to purchase Atheros Communications (NASDAQ:ATHR) for $45 per share, in a deal valued at $3.5 billion

• After yesterday’s close, Mosaic (NYSE:MOS) reported fiscal second quarter earnings of $1.01 ex-items, versus $0.24 a year ago, ahead of the Zacks Consensus Estimate of $1.0, as sales surged 59% to $2.7 billion, higher the Zacks Consensus Estimate of $2.17 billion

• Family Dollar Stores (NYSE:FDO) posted fiscal first quarter results of $0.58, lower than the Zacks Consensus Estimate of $0.61, on inline revenues of $2 billion

• Auriga maintained their coverage on Cisco (NASDAQ:CSCO) with a “buy” rating and with a target price of $25

• Deutsche Bank (NYSE:DB) downgraded Clorox (NYSE:CLX) from “buy” to “hold” with a $65 target price

• Citibank (NYSE:C) downgraded Alcoa (NYSE:AA) from “buy” to “hold” rating

• UBS (NYSE:UBS) downgraded their ratings on Avon Products (NYSE:AVP) and Colgate (NYSE:CL) from “buy” to “neutral”

• Wedbush started coverage of Apple (NASDAQ:AAPL) at “outperform,” with a target price of $405

• Goldman Sachs (NYSE:GS) upgraded General Mills (NYSE:GIS) from “neutral” to “buy” rating with a target price of $41

• JP Morgan (NYSE:JPM) has downgraded American Electric Power (NYSE:AEP) from “overweight” to “neutral” with a target price of $44

Company News for January 05, 2011 – Corporate Summary

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