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Corporate Summary

•    Research In Motion Limited (NASDAQ: reported first quarter earnings per share of $1.33. While this is marginally higher than the Zacks Consensus EPS Estimate of $1.32 per share, revenue numbers  missed expectations of $5.4 billion by roughly half a billion dollars, coming in at $4.9 billion

•    KV Pharmaceutical Co. (NYSE:KV-A) announced plans to sell its generics subsidiary, Nesher Pharmaceuticals Inc, as well as the company's generic business and assets to Zydus Pharmaceuticals (USA), Inc. for nearly $60 million in cash. The transaction is likely to close in Q2FY12

•    BPZ Resources, Inc. (NYSE:(BPZ - Snapshot Report) initiated the process to identify and select a partner for its offshore Block Z-1 in northwest Peru

•    William Blair initiated coverage on Rockwell Automation Inc. (NYSE:(ROK - Analyst Report) with a “Market Perform” rating

•    Citigroup, Inc. (NYSE:(C - Analyst Report) downgraded Celestica Inc. (NYSE:(CLS - Snapshot Report) by two notches to “Sell” from “Hold” rating

•    UBS AG (NYSE:(UBS - Analyst Report) upgraded CIENA Corp. (NASDAQ:(CIEN - Analyst Report) by two notches to “Neutral” from “Sell” rating

•    JPMorgan Chase & Co. (NYSE:(JPM - Analyst Report) upgraded InterMune Inc. (NASDAQ:(ITMN - Snapshot Report) to “Overweight” from “Neutral” rating

•    Morgan Keegan initiated coverage on Abbott Laboratories (NYSE:(ABT - Analyst Report) with an “Outperform” rating

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