Company News for July 14, 2010

• Johnson & Johnson (NYSE:JNJ - Analyst Report) posted second quarter EPS of $1.15 which was lower than Zacks estimates of $1.21 and $1.18 in the year ago period. Revenues were $15.2 billion in the second quarter lower than Zacks estimates of $15.7 billion
  
• Microsoft (NASDAQ:MSFT - Analyst Report) faced negative reporting from a ScriptLogic survey that suggested that six out of ten firms would not purchase the newest version of its operating software. On the other hand, the company announced plans to launch a free online software next year
  
• Fastenal (NASDAQ:FAST - Analyst Report) reported second quarter earnings of 29 cents per share on revenues of $474.9 million 
  
• Dell (NASDAQ:DELL - Analyst Report) warned of pressure on gross margin in the second quarter and stated that it was likely to generate only slight sequential revenue growth versus earlier estimate of 1.6% growth. Although, Dell asserted stabilization in demand for IT products on a year-over-year basis, the company added that its profits were adversely affected by higher component costs, a competitive pricing environment, and an unfavorable mix of product and business-segment demand
  
• CSX (NYSE:CSX - Analyst Report) reported better-than-expected EPS of 72 cents from continuing operations versus 95 cents in the year ago period, despite a 21% decline in shipping volumes and lower fuel surcharge recovery 
  
• Oppenheimer upgraded Best Buy (NYSE:BBY - Analyst Report), asserting that the shares are currently oversold
  
• OSI Pharmaceuticals (NASDAQ:OSIP) reported successful completion of a Phase III study, demonstrating increased survival rate following initial chemotherapy treatment for patients suffering from advanced non-small cell lung cancer 
  
• Citigroup (NYSE:C - Analyst Report) upgraded shares of Blue Nile (NASDAQ:NILE - Snapshot Report) to Buy from Hold while maintaining a $50 price target
  
• Burger King (NYSE:BKC) was downgraded by Bank of America (NYSE:BAC - Analyst Report) to Neutral with a lowered price point of $19 compared with $22 earlier 
  
• Masco (NYSE:MAS - Analyst Report) was downgraded by JP Morgan (NYSE:JPM - Analyst Report) to Underweight from Overweight, with its price target reduced to $6.50 from $7.50

Read the full analyst report on JNJ

Read the full analyst report on MSFT

Read the full analyst report on FAST

Read the full analyst report on DELL

Read the full analyst report on CSX

Read the full analyst report on BBY

Read the full analyst report on OSIP

Read the full analyst report on C

Read the full analyst report on BKC

Read the full analyst report on BAC

Read the full analyst report on MAS