Company News for March 03, 2011 - Corporate Summary

• According to Bloomberg, Weatherford (NYSE:WFT) filed to delay its 10-K because of weak internal controls over reporting for income taxes. The company reported errors in its tax accounting and will need to adjust previously reported results

• BJ’s Wholesale Club (NYSE:BJ) reported Q4 EPS of $0.95, ex-items, ahead of the Zacks Consensus Estimate of $0.92 per share

• JPMorgan (NYSE:JPM) upgraded Texas Instruments (NYSE:TXN) saying an inventory correction was nearing its end and demand looks to be improving

• On Wednesday, Apple Inc’s (NASDAQ:AAPL) CEO Steve Jobs took the stage in San Francisco to formally introduce the iPad 2

• McDermott International (NYSE:MDR) has entered into an agreement with the State Oil Co. of Azerbaijan to develop pipeline projects in the Caspian Sea

• Joy Global Inc’s (NASDAQ:JOYG) first-quarter profit missed estimates after flooding in Australia hit sales figures

• TiVo (NYSE:TIVO) reported a bigger than expected quarterly loss and announced plans to increase spending on research and development next year

• According to a published report, Internet company Yahoo! Inc (NASDAQ:YHOO) is in talks to sell its stake in the independently operated Yahoo Japan for up to $8 billion

• Janney Capital Markets analysts’ upgraded Peet’s Coffee & Tea Inc (NASDAQ:PEET) saying the company could possibly enter the single-cup coffee market by partnering with Keurig, the Green Mountain Coffee Roasters Inc (NASDAQ:GMCR) division that sells coffee machines and plastic K-cup single-serve coffee pods

• On Wednesday, Sina Corp (NASDAQ:SINA) announced plans to buy a $66 million stake in the Chinese fashion e-commerce company Mecox Lane Ltd (NASDAQ:MCOX)

• JPMorgan (NYSE:JPM) hiked its view on semiconductor company Xilinx Inc (NASDAQ:XLNX) from cautious to constructive

Company News for March 03, 2011 – Corporate Summary

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