Company News for June 24, 2009

• Oracle (NASDAQ:ORCL) 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) 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) 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) 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) 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) 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) announced agreement to purchase Addax Petroleum for $7.3 billion cash

Read the full analyst report on ORCL

Read the full analyst report on PETM

Read the full analyst report on BAC

Read the full analyst report on CVX

Read the full analyst report on BMC

Read the full analyst report on RAD

Read the full analyst report on SNP