Company News for July 29, 2011

• Credit Suisse (NYSE:CS) announced that it will cut 2,000 jobs worldwide after the banking giant was hit by a decline in second quarter profits and an appreciating Swiss franc

• A report from Sky News said that banking major HSBC (NYSE:HBC) may soon axe 10,000 of its employees as part of a cost reduction exercise

• Tyco International (NYSE:TYC) posted Q3 EPS of $0.85, surpassing the Zacks Consensus Estimate of $0.72 per share. Revenue for the quarter rose 0.4% year-over-year to $4.29 billion, beating the Zacks Consensus Estimate of $4.222 billion

• Starwood Hotels (NYSE:HOT) posted Q2 EPS of $0.50, ex-items, exceeding the Zacks Consensus Estimate of $0.46 per share. Revenues for the quarter rose 10.6% year-over-year to $1.43 billion, higher than the Zacks Consensus Estimate of $1.406 billion

• DuPont (NYSE:DD) posted Q2 EPS of $1.37, above the Zacks Consensus Estimate of $1.33 per share. Revenues for the quarter rose 19% year-over-year to $10.26 billion, beating the Zacks Consensus Estimate of $9.951 billion

• ITC Holdings (NYSE:ITC) posted Q2 EPS of $0.83, higher than the Zacks Consensus Estimate of $0.81 per share. Revenues for the quarter rose 9.9% year-over-year to $185.1 million, lower than the Zacks Consensus Estimate of $188.0 million

• Logitech International (NASDAQ:LOGI) reported a Q1 loss of $0.17 per share. Analysts at Zacks had expected an EPS of $0.03 per share. Revenues rose less than 1% year-over-year to $480 million, lower than the Zacks Consensus Estimate of $505.0 million

• Shares of Boston Scientific Corp. (NYSE:BSX) gained more than 10% in morning trade after the heart stent maker increased its profit forecast for the fiscal

• Analysts at Goldman Sachs (NYSE:GS) upgraded shares of Cisco Systems (NASDAQ:CSCO) from "Neutral" rating to "Buy" rating with a target price of $21.00 on the stock