Company News for May 18, 2010

• Berkshire Hathaway (NYSE:BRKA) cut its exposure in Kraft (NYSE:KFT - Analyst Report) by 23% in the first quarter. Kraft shares had rallied yesterday following a Barron's article, which advised the company's Cadbury purchase could help expand revenues and lower costs, a deal which was opposed by Buffett.  Berkshire also shed holdings in Procter & Gamble (NYSE:PG - Analyst Report), Johnson & Johnson (NYSE:JNJ - Analyst Report) Costco (NASDAQ:COST - Analyst Report), Gannett (NYSE:GCI - Analyst Report) and Conoco Philips (NYSE:COP - Analyst Report), as the firm raised funds for its $27 billion purchase of Burlington Northern (NYSE:BNI)

• Home Depot (NYSE:HD - Analyst Report) reported first quarter earnings of 45 cents, versus Zacks expectations  of 40 cents and 35 cents a year earlier, on estimate-topping revenues of $16.86 billion, up from estimates of $16.4 billion.  The company said it sees full-year earnings of $1.88, one penny higher than average estimates

• Goldman Sachs (NYSE:GS - Analyst Report) added Textron (NYSE:TXT - Analyst Report) to its Conviction Buy List with a price target of $30

• Dick's Sporting Goods (NYSE:DKS - Snapshot Report) topped estimates with first quarter earnings of 22 cents, up from Zacks estimates of 14 cents and 11 cents a year ago, on revenues of $1.05 billion, versus Zacks expectations of $1.03 billion.  The company said it sees full-year earnings of $1.41 to $1.44, versus consensus estimates of $1.38

• Abercrombie & Fitch (NYSE:ANF - Analyst Report) reported first quarter results of a 13 cent loss, in-line with Zacks estimates, but below last year's 31 cent loss, on a 14.3% revenue increase to $688 million, which beat Zacks estimates of $670 million

• Citigroup (NYSE:C - Analyst Report) upgraded Beazer Homes (NYSE:BZH - Snapshot Report) to "buy" from "hold" with a price target of $7

Read the full analyst report on BRK-A

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Read the full analyst report on PG

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Read the full analyst report on COST

Read the full analyst report on GCI

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Read the full analyst report on BNI

Read the full analyst report on HD

Read the full analyst report on GS

Read the full analyst report on TXT

Read the full analyst report on DKS

Read the full analyst report on ANF