Company News for September 24, 2010 - Corporate Summary

• Nike (NYSE:NKE) shares ran higher after the close following its report of fiscal first quarter earnings that topped estimates by 13 cents, posting at $1.14 on revenues of $5.2 billion, up 8% from last year and in line with estimates.

• Advanced Micro Devices (NYSE:AMD) lowered guidance for fiscal third quarter sales by 1-4% from the second quarter’s $1.65 billion; Street estimates for the third quarter had been $1.72 billion.

• KB Home (NYSE:KBH) posted better-than-expected third quarter results, at breakeven ex-items, a 15 cent beat, on revenues up 9.3% to $501 million versus estimates of $477.8 million.

• Apple (NASDAQ:AAPL) hit a new intraday record high at $292.29 yesterday after Piper Jaffray (NYSE:PJC) increased sales and earnings targets for 2011 and lifted the price target to $390 from $371, also boosting expectations for iPad sales in 2011. Today’s report from JD Powers placed the firm’s iPhone at the head of its customer satisfaction list for the fourth year running.

• JP Morgan (NYSE:JPM) downgraded NCR (NYSE:NCR) to “neutral” from “overweight,” with a price target of $17.50.

• Credit Suisse (NYSE:CS) upgraded MeadWestvaco (NYSE:MWV) from “neutral” from “outperform,” with a price target of $29.

• Jefferies (NYSE:JEF) upgraded the price target for Wynn (NASDAQ:WYNN) to $104 from $101, while maintaining a “buy” rating on the shares.

• Netflix (NASDAQ:NFLX) and General Electric’s (NYSE:GE) NBC Universal reached a programming agreement.

• Deutsche Bank (NYSE:DB) upgraded Dr Pepper Snapple (NYSE:DPS) to “buy” from “hold,” with a price target of $39.

• FBR reiterated an “outperform” on Oracle (NASDAQ:ORCL)

Company News for September 24, 2010 – Corporate Summary

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