Company News for December 23, 2010

• Rio Tinto (NYSE:RIO - Analyst Report) revised its bid amount for Riversdale Mining, offering $3.9 billion, up from $3.5 billion

• Bed Bath & Beyond (NASDAQ:BBBY - Analyst Report) posted fiscal third quarter profits of $0.74, below the Zacks Consensus Estimate of $0.93, and reported revenues of $2.2 billion, which are again well below the Zacks Consensus Estimate of $2.35 billion. The company announced its plans for a $2 billion stock repurchase program, and increased guidance for 2010 from 20% EPS growth to 25% at $2.86-$2.90, besting estimates of $2.80

• Micron Tech (NASDAQ:MU - Snapshot Report) posted fiscal first quarter earnings of $0.15, well behind the Zacks Consensus Estimate of $0.19, as revenues rose 32% to $2.3 billion, beating the Zacks Consensus Estimate of $2.218 billion

• Leonard Green & Partners reported plans to buy Jo-Ann Stores (NYSE:JAS) at $61 per share

• Goldman Sachs (NYSE:GS - Analyst Report) initiated coverage of ReneSola (NYSE:SOL - Analyst Report) at a "buy" rating with potential 31% upside price

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Read the full analyst report on MU

Read the full analyst report on JAS

Read the full analyst report on GS

Read the full analyst report on SOL