Company News for November 19, 2009

• Bank of America/Merrill (NYSE:BAC - Analyst Report) 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 - Analyst Report), Texas Instruments (NYSE:TXN - Analyst Report), Marvel Technology Group (NASDAQ:MRVL - Snapshot Report) and LSI Corp (NYSE:LSI - Analyst Report).  The form lowered Maxim Integrated Products (NASDAQ:MXIM - Analyst Report), National Semiconductor (NYSE:NSM - Analyst Report), Power Integrations (NASDAQ:POWI - Analyst Report) and Microchip Technology (NASDAQ:MCHP - Analyst Report) to underperform

• Advanced Micro Devices (NYSE:AMD - Analyst Report) 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 - Analyst Report) reiterated its "buy" rating on CVS Caremark (NYSE:CVS - Analyst Report), 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 - Snapshot Report) 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 - Analyst Report) priced a 12 million share offering at $16.50 per share for $187 million

• Sears Holding (NASDAQ:SHLD - Analyst Report) 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 - Snapshot Report) 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 - Snapshot Report) reported in-line earnings of $1.38 on in-line revenues of $463 million. Comparable sales fell 2%

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

Email	Print	Share	RSS	Rate Pos	Rate Neg	Comment

Loading Stories...

Related Content

RELATED ARTICLES CORPORATE SUMMARY ARCHIVE

Zacks Blog: Company News for February 9, 2010
(BIIB, IFF, TAP, CVH, NYX, VZ, BAC, MON, SAP, RDS, HBC)	02/09/10
Zacks Blog: Stock Market News for February 9, 2010
(BAC, JPM, HD, MS, HPQ, XOM, DIS, JPM, PCLN, CME, AZO, C, CVS)	02/09/10
Zacks Blog: Zacks Earnings Trends Highlights: Apple, Applied Materials, Intel, Microsoft and Texas Instruments
(AAPL, AMAT, INTC, MSFT, TXN)	02/09/10
Earnings Trends: Earning Season Still Going Strong
(INTC)	02/08/10
Industry Outlook: U.S. Banks Stock Update - Feb. 2010
(GS)	02/03/10

 Posting Comment...

There was a problem posting this this comment. Please try back later.
[CLICK TO CLOSE X]

Comments (Limit 1000 Characters - Used: 0)

Please provide your comments here... Display Name: Email Address:  

 Loading Comments...

Be the first to comment on this article!