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Corporate Summary



•    Sprint Nextel Corp. (NYSE:S) was rumored to be in talks with cable companies and may possibly acquire Clearwire Corporation (NASDAQ:CLWR)

•    AnnTaylor Stores Corp. (NYSE:ANN) posted second quarter earnings per share of $0.47, which surpassed the Zacks Consensus Estimate of $0.45 per share

•    Autodesk, Inc. (NASDAQ:ADSK) reported second quarter 2012 earnings of $0.36 per share, beating the Zacks Consensus Estimate by $0.02

•    Bank of America Corporation (NYSE:BAC) has planned to reduce its workforce of 288, 000 by almost 1% and will cut 3,500 jobs

•    Chief executive officer Leo Apotheker of Hewlett-Packard Company (NYSE:HPQ) announced that the company is planning to spin-off its PC business

•    Jefferies Group Inc. (NYSE:JEF) initiated coverage on American Equity Investment Life Holding Co. (NYSE:AEL) with a “Buy” rating

•    First Analysis upgraded Intuit Inc. (NASDAQ:INTU) to “Overweight” from an “Equal Weight” rating

•    Citigroup, Inc. (NYSE:C) initiated coverage on BB & T Corp. (NYSE:BBT) with a “Hold” rating

•    Think Equity downgraded LDK Solar Co., Ltd. (NYSE:LDK) to a “Hold” rating from “Buy” rating


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