• Red Hat (NYSE:RHT) reported fiscal second quarter results of 20 cents a share, compared with Zacks estimates of 11 cents a share, on revenues of $183.6 million, versus estimates of $179.0 million
• Deutsche Bank (NYSE:DB) cut AutoZone (NYSE:AZO) price target to $150 from $175 but maintained its “hold” rating on the stock
• Reports say modifications on the Boeing (NYSE:BA) 787 Dreamliner test plane suggest the first flight is possible by late October or early November
• The corporate head of Microsoft’s (NASDAQ:MSFT) Game Studios division ruled out plans to acquire video game publisher Electronics Arts (NASDAQ:ERTS)
• Abbott Laboratories (NYSE:ABT) has offered to buy the drug unit of Belgian’s conglomerate Solvay SA
• Deutsche Bank (NYSE:DB) raised its price target for HB Fuller (NYSE:FUL) to $23 from $18, while maintaining its “hold” rating
• Goldman Sachs (NYSE:GS) raised its price target on Buffalo Wild Wings (NASDAQ:BWLD) to $46
• Nintendo lowered its Wii price by 20% to $199.99 in the US after meeting increased competition from Microsoft (NASDAQ:MSFT) and Sony (NYSE:SNE)
• Palm (NASDAQ:PALM) said an offering of 20 million shares of its common stock was priced at $16.25 apiece, a 5% discount to Tuesday’s closing price
• BlackRock (NYSE:BLK) shares rose 1.4% Wednesday on a Deutsche Bank (NYSE:DB) recommendation
• Cisco (NASDAQ:CSCO) shares fell 2.6% on failure to offer current quarter guidance and comments made by CEO Chambers that “it looks like a gradual recovery,” but also warning of a risk that the economy could still retreat
