Company News for November 19, 2009

• Bank of America/Merrill (NYSE:BAC) downgraded a number of semiconductor companies, expecting a modest inventory correction, even as economies improve and demand for electronics rises.  Four shares were downgraded to neutral, including Intel (NASDAQ:INTC), Texas Instruments (NYSE:TXN), Marvel Technology Group (NASDAQ:MRVL) and LSI Corp (NYSE:LSI).  The form lowered Maxim Integrated Products (NASDAQ:MXIM), National Semiconductor (NYSE:NSM), Power Integrations (NASDAQ:POWI) and Microchip Technology (NASDAQ:MCHP) to underperform

• Advanced Micro Devices (NYSE:AMD) rose 10.6% yesterday. The firm announced a private debt offering of $500 million of senior notes. This morning's news saw FBR Research raising its price target to $9 from $8, while maintaining a "market perform" opinion

• Goldman Sachs (NYSE:GS) reiterated its "buy" rating on CVS Caremark (NYSE:CVS), saying the shares are cheap at current levels.  The firm said at $30, CVS is selling at just 10.6 times 2010 estimates, below a two year, 14x average, with long-term growth of 13% anticipated

• Reports said Blackstone (NYSE:BX) plans to acquire Birds Eye Foods, the largest US frozen-vegetable company, for over $1.3 billion in an all-cash deal

• Tenneco (NYSE:TEN) priced a 12 million share offering at $16.50 per share for $187 million

• Sears Holding (NASDAQ:SHLD) reported a third quarter loss of 81 cents, less than the $1.09 loss expected, on better-than-expected revenues of $10.19 billion

• Dick's Sporting Goods (NYSE:DKS) reported third quarter earnings of 16 cents a share, ahead of estimates by 7 cents as revenues of $990 million topped expectations of $961 million.  The company said it expect fourth-quarter earnings of 41 cents to 46 cents a share

• Children's Place (NASDAQ:PLCE) reported in-line earnings of $1.38 on in-line revenues of $463 million. Comparable sales fell 2%

• Williams-Sonoma (NYSE:WSM) third quarter beat by 11 cents as earnings posted at 16 cents and revenues exceeded estimates at $729 million

Read the full analyst report on BAC

Read the full analyst report on INTC

Read the full analyst report on TXN

Read the full analyst report on MRVL

Read the full analyst report on LSI

Read the full analyst report on MXIM

Read the full analyst report on NSM

Read the full analyst report on POWI

Read the full analyst report on MCHP

Read the full analyst report on AMD

Read the full analyst report on GS

Read the full analyst report on CVS