Company News for July 13, 2010 - Corporate Summary

• FundFinder Networks, owner of Penthouse, said an offer for Playboy PLA is imminent. Yesterday, Playboy shares surged 41% on news that Hugh Hefner is planning to offer $5.50 per share for stock he does not already own

• Walmart WMT shares were up 1.4% on Monday, following Barron's expectation for a 33% increase in the shares' price, as its sales reflect increased online business and opening of urban center stores

• Consumer Reports failed to recommend Apple's AAPL new iPhone 4, citing design flaws. The report noted the device's tendency to lose reception when held a certain way, due to its wrap-around antenna design

• Chevron CVX hiked its second quarter guidance, noting improved refining margins and a stronger US dollar

• According to the Financial Times, BP BP may find that monies spent cleaning up its Gulf oil spill, as well as paying for damages, are tax-deductible items

• Goldman Sachs GS reiterated its conviction buy on Allergan AGN, citing it as a likely takeover candidate and increased the price target to $81 from $78

• Infosys INFY posted inline earnings per share, for the fourth quarter, of 57 cents compared with Zacks estimates of 563 cents; on revenues of $1.36 billion compared with Zacks estimates of $1.338 billion.  Fiscal 2011 EPS guidance ranged from $2.42 to $2.52

• GlaxoSmithKline GSK faces FDA hearings today and tomorrow regarding diabetic drug Avandia's safety, with a possible removal from US markets

• FBR reiterated its "outperform" rating on CSX CSX with a price target of $68