• Pfizer (NYSE:PFE) led DJIA stocks on the downside yesterday after Medivation (NASDAQ:MDVN) said its experimental treatment for Alzheimer’s, Dimebon, developed with Pfizer, failed to show desired results in late-stage trials
• Anheuser-Busch InBev (NYSE:BUD) posted adjusted earnings of 55 cents a share, up from 44 cents, which missed Zacks projections by 5 cents, on combined revenues up 5% to $9.3 billion
• UBS (NYSE:UBS) upgraded Coca-Cola (NYSE:KO) to “buy” from “neutral,” citing solid mid-single digit global volume growth
• Goldman Sachs (NYSE:GS) upgraded Royal Caribbean (NYSE:RCL) to “neutral” from “sell,” and raised the price target to $27 from $23
• Piper Jaffray (NYSE:PJC) reiterated an “overweight” rating on Big Lots (NYSE:BIG), but raised the price target to $41 from $38
• Suntech Power (NYSE:STP) posted better-than-expected earnings of 27 cents a share, sharply up from Zacks estimates of 12 cents, on revenues of $583.6 million, well ahead of Zacks estimates of $471 million
• FBR reiterated its “outperform” rating on Anadarko (NYSE:APC) and raised the price target to $90 from $75
• Bank of America (NYSE:BAC) upgraded Disney (NYSE:DIS) to “buy” from “neutral” and raised its price target to $42 from $33
• Limited Brands (NYSE:LTD) reported February same-store-sales rose 10%, versus consensus projections of 9.7% growth
• Pier 1 Imports (NYSE:PIR) forecast fiscal fourth quarter earnings of at least 29 cents a share versus last year’s 33 cent loss, up from projections of 25 cents, as margins post a better-than-expected 55.7%. CEO Alex Smith said, “The increase in margin rate during the quarter is attributable not only to less clearance merchandise but also to our initial markups which remained strong”
• Bernstein upgraded BB&T (NYSE:BBT) to “outperform” and downgraded M&T (NYSE:MTB) and Fifth Third (NASD:FITB) to “market perform” from “outperform”
