• Citigroup (NYSE:C) downgraded financial shares from “overweight” to “neutral,” warning that early-cycle gains in financial sector shares, up 63% over the past year, may fade heading into the bull market’s second year
• After the close yesterday, Nike (NYSE:NKE) reported sharply-higher-than-expected results, helped by higher US and China sales. The company reported earnings of $1.01 a share, versus Zacks estimates of 89 cents, on revenues of $4.73 billion, a 6.6% increase, and up from Zacks estimates of $4.6 billion
• Winnebago Industries (NYSE:WGO) reported better-than-expected fiscal second quarter earnings of 2 cents, versus Zacks estimates of a 9 cent loss, on revenues of $110.5 million, versus Zacks estimates of 85 million
• Deutsche Bank (NYSE:DB) reiterated its “buy” rating on LSI Corp (NYSE:LSI) and raised its price target to $8
• Goldman Sachs (NYSE:GS) removed Advanced Micro Devices (NYSE:AMD) from the firm’s Conviction Sell List, but kept a “sell” rating on the shares; the price target is $5.50
• General Motors’ (NYSE:GM) CFO noted a “reasonable chance” of 2010 profitability, the automaker’s first profit in five years
• JP Morgan (NYSE:JPM) upgraded Energizer (NYSE:ENR) shares to “overweight”
• Deutsche Bank (NYSE:DB) reiterated its “buy” rating on Conoco Phillips (NYSE:COP) with a price target of $60
• Goldman Sachs (NYSE:GS) upgraded Broadcom (NASDAQ:BRCM) shares to “buy” from “neutral” and raised the price target to $40
• Deutsche Bank (NYSE:DB) upgraded Burger King (NYSE:BKC) to “buy” from “hold”
• Teva Pharmaceutical Industries (NASDAQ:TEVA) bettered Pfizer (NYSE:PFE) bid to acquire Ratiopharm with a $4.78 billion offer
• FedEx (NYSE:FDX) reported third-quarter EPS of 76 cents, beating Zacks projections of 72 cents a share
