Company News for June 09, 2011 - Corporate Summary

• Research In Motion (NASDAQ:RIMM) has purchased Scoreloop, a Munich-based social gaming company. The acquisition will enhance the Blackberry maker’s messenger application as it looks to compete against Apple (NASDAQ:AAPL) and other companies.

• Oil company Exxon Mobil Corp (NYSE:XOM) said it has discovered an oil field in the Gulf of Mexico which may generate over 700 million barrels of oil

• Shares of Colo-based Molycorp, Inc (NYSE:MCP) fell more than 9% after the company announced plans to raise around $200 million from the market via a debt offering

• Canaccord Genuity raised natural-gas producer Cabot Oil & Gas Corp (NYSE:COG) from “Hold” rating to “Buy” rating

• Drilling and construction services provider Layne Christensen Co. (NASDAQ:LAYN) posted its first quarter earnings results beating analysts’ estimates

• Share prices of Drug developer Pharmasset Inc. (NASDAQ:VRUS) spiked up 10.38% after the company said it was expanding trials for a potential treatment of Hepatitis C

• Share prices of Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ:ULTA) gained 12.68% on Wednesday’s trade after the maker of beauty products posted better than expected first quarter earnings results

• Analysts at Dahlman Rose upgraded ENSCO PLC (NYSE:ESV) to “Buy” rating from “Hold” rating with a target price of $70.00

• Analysts at Keybanc upgraded G-III Apparel (NASDAQ:GIII) to “Buy” rating from “Hold” rating with a target price of $42.00

• Analysts at Goldman Sachs (NYSE:GS) upgraded Knight Capital Group Inc. (NYSE:KCG) to “Buy” rating from “Neutral” rating with a target price of $14.00

• Analysts at CapitalOne Southcoast upgraded shares of Northern Oil & Gas, Inc. (AMEX:NOG) to “Strong Buy” rating from “Add” rating with a target price of $37.00

Company News for June 09, 2011 – Corporate Summary

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