Company News for June 12, 2009
BlackRock (NYSE:BK - Snapshot Report) will become the world's largest money manager by assets under management, following its planned purchase of BGI for $13.5 billion in cash and stock
Progressive (NYSE:PGR - Analyst Report) authorized purchase of up to 50 million common shares beginning July 1, 2009
National Semiconductor's (NYSE:NSM - Analyst Report) reported a fourth-quarter loss of 28 cents per share, versus Street estimates of a 38 cent loss. Revenues plunged 39.2% year-over-year to $280.8 million, versus $273.4 million expected. However, the firm said it expects first quarter revenue of $285 million to $305 million, versus Street estimates of $282.52 million
At a medical conference Pfizer (NYSE:PFE - Analyst Report) disclosed impressive results for its experimental oral drug, which would compete with Abbott Labs' (NYSE:ABT - Analyst Report) Humira, Johnson & Johnsons' (NYSE:JNJ - Analyst Report) and Schering-Plough's (NYSE:SGP) Remicade, Amgen (NASDAQ:AMGN - Analyst Report) and Wyeth's (NYSE:WYE) Enbrel anti-rheumitoid athritis medications
Bank of America (NYSE:BAC - Analyst Report) raised its price target for Palm (NASDAQ:PALM - Snapshot Report) to $16 from $14
Oppenheimer downgraded United Health Group (NYSE:UNH - Snapshot Report) to "underperform" from "perform," citing margin pressure from its Medicare business
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| Market Summary | Nov 26, 2009 12:24 pm ET |


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