Company News for September 1, 2010 - Corporate Summary

• Joy Global (NASDAQ:JOYG) reported fiscal third quarter earnings ten cents higher than estimated at $1.13, on a 11.1% revenue decline to $850 million, off projections of $877 million

• PerkinElmer (NYSE:PKI) agreed to sell its illumination and detection solutions business to a private equity firm for about $500 million, adding 19-21 cents to third quarter operation results. The company also approved an increase in its share buyback program to 13 million

• HJ Heinz (NYSE:HNZ) posted fiscal first quarter results of 75 cents, up from consensus estimates of 73 cents, on revenues of $2.48 billion that missed estimates of $2.53 million

• HSBC (NYSE:HBC) upgraded both Arch Coal (NYSE:ACI) and Massey Energy (NYSE:MEE) to “overweight” from “neutral”

• Kaufman initiated coverage of Veeco (NASDAQ:VECO) with a “buy” rating and a price target of $56

• Piper Jaffray (NYSE:PJC) maintained an “overweight” rating on Netflix (NASDAQ:NFLX) with a $140 price target

• Burger King (NYSE:BKC) is reportedly in talks with several private equity firms on its possible sale

• Barclays (NYSE:BCS) initiated coverage of CIT (NYSE:CIT) at “overweight” with a price target of $46

Company News for September 1, 2010 – Corporate Summary

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