Company News for June 27, 2011 - Corporate Summary

• Google Inc. (NASDAQ:GOOG) confirmed that it has received a formal notification from the U.S. Federal Trade Commission, which is investigating if Google’s search engine poses any threat for its peers

• Williams Companies, Inc. (NYSE:WMB) presented an all-cash buyout proposal to Southern Union Co. (NYSE:SUG) and valued the company at $4.9 billion, or $39 per share

• Oracle Corp.’s (NASDAQ:ORCL) shares dropped 4.1% after it reported disappointing hardware sales. However, it reported better-than-expected fourth-quarter earnings as robust top-line growth helped Oracle earn $0.71 per share in the quarter, beating the Zacks Consensus Estimate by $0.02

• Micron Technology Inc. (NASDAQ:MU) reported adjusted third quarter 2011 earnings per share of $0.00, lower than the Zacks Consensus Estimate of $0.17

• In a filing submitted to the SEC, Sears Holdings Corporation (NASDAQ:SHLD) said it was spinning off its home improvement unit Orchard Supply Hardware Store chain

• RBC Capital initiated coverage on PPL Corporation (NYSE:PPL) with an “Outperform” rating

• Wunderlich upgraded Constellation Energy Group, Inc. (NYSE:CEG) to “Buy” rating from “Hold” rating

• HSBC Holdings plc (NYSE:HBC) downgraded Tiffany & Co. (NYSE:TIF) to “Neutral” rating from an “Overweight” rating

• UBS AG (NYSE:UBS) downgraded Boston Scientific Corporation (NYSE:BSX) to “Neutral” rating from a “Buy” rating

Company News for June 27, 2011 – Corporate Summary

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