Company News for July 7, 2010

• Microsoft (NASDAQ:MSFT - Analyst Report) is reportedly planning to cut a small number of positions this week

• Family Dollar Stores (NYSE:FDO - Analyst Report) reported a 19% rise in fiscal third-quarter earnings to 77 cents from 62 cents a year ago, one cent higher than Zacks estimates, on an 8.4% gain in revenues to $2 billion, in-line with Zacks estimates.  However, the firm said it sees full-year earnings of $2.53 to $2.58 a share, below expectations

• Alcon (NYSE:ACL) said it plans to acquire privately-held LenSX lasers firm for $744 million

• A Saudi newspaper says Saudi investors are seeking a 10-15% stake in BP (NYSE:BP - Analyst Report).  The US Department of Justice has requested BP to provide notice of any planned asset sale or significant cash deal, with US leverage coming from possible fines and loss of US drilling permits.  Yesterday saw BP shares higher from news of upgrades to "buy" from analysts at RBS (NYSE:RBS - Snapshot Report) and Bernstein

• Piper Jaffray (NYSE:PJC - Snapshot Report) upgraded Jupiter Networks (NASDAQ:JNPR - Analyst Report) to "overweight" from "neutral" with a price target of $31

• Oppenheimer upgraded EMC (NYSE:EMC - Analyst Report) to "outperform" from "perform," with a price target of $22

Read the full analyst report on MSFT

Read the full analyst report on FDO

Read the full analyst report on ACL

Read the full analyst report on BP

Read the full analyst report on RBS

Read the full analyst report on PJC

Read the full analyst report on JNPR

Read the full analyst report on EMC