Company News for November 9, 2010 - Corporate Summary

• Chevron (NYSE:CVX) announced plans to buy Atlas Energy (NASDAQ:ATLS) for $4.3 billion, or $43.35 per share

• Bank of America (NYSE:BAC) and PNC (NYSE:PNC) sold $8.3 billion of BlackRock (NYSE:BLK) shares in a secondary offering priced at $163 per share, a 3.6% discount to BlackRock’s close

• Tyco International (NYSE:TYC) reported earnings of $0.74 that beat estimates of $0.66, on a 4% revenue gain to $4.5 billion, above estimates of $4.4 billion

• Covidien (NYSE:COV) reported fiscal fourth quarter earnings of $0.84, a dime higher than Zacks estimates, on revenues of $2.67, up 3.1% YoY, and above Zacks estimates of $2.64 billion

• Marsh & McLennan (NYSE:MMC) reported third-quarter earnings of $0.30, above Zacks estimates of $0.28, on inline revenues of $2.5 billion, up 7.2%

• Priceline.com (NASDAQ:PCLN) posted third quarter earnings of $5.33, above Zacks estimates of $4.72, on revenues of $1 billion, above Zacks estimates of $969 million

• Kaufmann downgraded Research In Motion (NASDAQ:RIMM) to “hold” from “buy”, taking the price target from $72 to $60

• Goldman Sachs (NYSE:GS) downgraded AK Steel (NYSE:AKS) from “buy” to “hold,” dropping the price target from $15 to $12

• ISI Group upgraded Symantec (NASDAQ:SYMC) from “hold” to “buy,” and raised the price target from $17 to $22

Company News for November 9, 2010 – Corporate Summary

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