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Corporate Summary


•    Meg Whitman has been named the new Chief Executive Officer of Hewlett Packard (NYSE:HPQ). Whitman was formerly CEO of online auction and shopping site eBay (NASDAQ:EBAY)

•    FedEx (NYSE:FDX) posted fiscal Q1 EPS of $1.46, falling short of the Zacks Consensus Estimate by a penny. Revenue rose 11% year-over-year to $10.52 billion, surpassing the Zacks Consensus Estimate of $10.33 billion

•    United Technologies (NYSE:UTX) said it will buy Goodrich Corp (NYSE:GR) for a total consideration of $18.4 billion or $127.50 per share

•    Used cars retailer CarMax (NYSE:KMX) posted fiscal Q2 EPS of $0.49 cents. The revenue of the company increased 11% to $2.59 billion

•    Opko Health Inc. (AMEX:OPK) will sell off its ophthalmic instrumentation business to OPTOS Inc in a deal worth $17.5 million in cash plus future royalties

•    Share prices of Red Hat, Inc. (NYSE:RHT) gained 2.98% after the business-software provider’s second-quarter income numbers came in above the Street’s expectations

•    According to Reuters, an analyst at Morningstar has suggested that TreeHouse Foods (NYSE:THS) could be a potential takeover target for ConAgra Foods (NYSE:CAG)

•    Share prices of material and construction company Foster Wheeler AG (NASDAQ:FWLT) dropped 12.60% to close at $17.41 on fears of a possible slowdown in China

•    Makers of computer mouse Logitech International SA’s (NASDAQ:LOGI) shares fell 11.67% to $7.72 after the company  lowered its profit and sales forecast for 2011

•    Share prices of Yanzhou Coal Mining Co. (NYSE:YZC) dropped 12.33% to close at $21.34 due to fears of a slowdown in the Chinese economy

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