• Dell (NASDAQ:DELL) was added to Goldman Sach’s (NYSE:GS) conviction buy list from a previous “neutral” rating, due to both the company’s significant operating leverage as well as growing confidence in the PC upgrade cycle expected next year , with the additional opportunity of improved consumer sentiment
• Goldman Sachs (NYSE:GS) downgraded shares of IBM (NYSE:IBM) to “neutral” from “buy”
• Infosys Technologies (NASDAQ:INFY) beat estimates by 8 cents, posting fiscal first-quarter earnings of 55 cents a share as revenues fell 2.9% y/y to $1.12 billion.The company expects second quarter earnings of 50 cents to 51 cents a share and full-year earnings of $1.97 to $2.00
• Barclays (NYSE:BCS) upgraded KLA Tencor (NASDAQ:KLAC) shares to “overweight”
• General Motors (NASDAQ”GMGMQ) exits bankruptcy today
• Nissan Motor (NASDAQ:NSANY) CEO Ghosn warned 2010 is likely to prove “as difficult as 2009,” with Europe expected among the slowest areas to recover worldwide
• Credit Suisse (NYSE:CS) upgraded Western Union (NYSE:WU) shares to “outperform” from “neutral”
• Citigroup (NYSE:C) warned AIG (NYSE:AIG) investors may have little left after the US government is paid back. JP Morgan (NYSE:JPM) has opted for a public determination of its warrants’ valuation in order to pay back government borrowings
• BMO Capital noted mildly positive data for May from Las Vegas Strip gaming revenues
