Company News for June 24, 2009

• Oracle (NASDAQ:ORCL - Snapshot Report) reported fourth-quarter earnings of 46 cents a share, versus estimates of 44 cents, as revenues fell 5.2% to $6.86 billion, up from Street estimates of $6.47 billion

• PetSmart (NASDAQ:PETM - Analyst Report) raised its quarterly dividend to 10 cents from 3 cents; the company also announced plans for a $350 million stock purchase plan

• Bank of America (NYSE:BAC - Analyst Report) announced efforts to raise over $2.5 billion in fresh capital through the swap of preferred for common shares, which priced at $12.7048

• Chevron (NYSE:CVX - Analyst Report) announced production has begun at Brazil's Frade Field, a $3 billion project, which is projected to result in production levels of 90,000 barrels daily by 2011

• BMC Software (NYSE:BMC - Snapshot Report) reaffirmed its 2010 earnings guidance ex-items of $2.37-$2.47 a share, with operating cash flow expected at $600-$650 million, noting the firm has been gaining market share in IT management software space

• Rite Aid (NYSE:RAD - Analyst Report) reported first quarter loss of 11 cents, topping estimates by 2 cents, as revenues dropped 1.2% to $5.5 billion, inline with Street projections

• China Petroleum & Chemical (NYSE:SNP - Analyst Report) announced agreement to purchase Addax Petroleum for $7.3 billion cash