Company News for June 17, 2010

• Pier 1 (NYSE:PIR) posted better-than-expected first quarter earnings of 7 cents a share, up from Zacks consensus of a 2 cent loss, on revenues of $306.3 million, above Zacks estimates of $305 million

• Smithfield Foods (NYSE:SFD) reported in-line fourth quarter earnings of 18 cents a share, on revenues of $2.91 billion, slightly below Zacks estimates of $2.92 billion

• JM Smucker (NYSE:SJM) posted fourth quarter earnings of $1.01, up from Zacks estimates of 80 cents, on revenues of $1.07 billion, slightly above Zacks estimates of $1.05 billion

• Goldman Sachs (NYSE:GS) initiated coverage of Micron technology (NYSE:MU) with a "buy" rating, and a price target of $12, and a "neutral" rating on SanDisk (NASDAQ:SNDK), with a price target of $40

• HSBC (NYSE:HBC) initiated coverage of General Dynamics (NYSE:GD) with an "overweight" rating and a price target of $75

• Despite an AT&T (NYSE:T) computer glitch, Apple (NASDAQ:AAPL) said its pre-order sales of iPhone 4s topped 600K, heading the new model toward prior sales of earlier iPhones and iPad devices

Read the full analyst report on PIR

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Read the full analyst report on SJM

Read the full analyst report on GS

Read the full analyst report on MU

Read the full analyst report on SNDK

Read the full analyst report on HBC

Read the full analyst report on GD

Read the full analyst report on T

Read the full analyst report on AAPL