• Walgreens (NYSE:WAG) posted fiscal second-quarter earnings of 70 cents, one cent below Zacks projections, on revenues of $16.99 billion, which was below Zacks projections of $17.23 billion
• A. O. Smith (NYSE:AOS) said it sees first-quarter earnings of $0.95 to $1.00 a share
• Piper Jaffray (NYSE:PJC) upgraded SAP (NYSE:SAP) to “overweight” from “neutral,” with a price target of $53
• Several firms, including Kaufman and Goldman Sachs (NYSE:GS), lifted price targets for Baidu (NASDAQ:BIDU), as Google (NASDAQ:GOOG) defied China by redirecting China users to its Hong Kong site. Goldman lifted its Baidu price target to $675 from $575, and Kaufman to $690 from $540
• Janney Montgomery downgraded PetSmart (NASDAQ:PETM) to “neutral” from “buy,” with a price target of $30
• Jessup & Lamont upgraded Tiffany (NYSE:TIF) to “buy” from “hold”
• JP Morgan (NYSE:JPM) upgraded Saks (NYSE:SKS) to “overweight” from “neutral” with a price target of $11, up from $7
• Time Warner (NYSE:TWX) is rumored to be in the lead with a $1.5 billion bid for Metro-Goldwyn-Mayer in an anticipated, all-cash deal
• Triumph Group (NYSE:TGI) announced plans to purchase Vought Aircraft from The Carlyle Group for $1.44 billion in cash and stock
