Company News for November 11, 2010 - Corporate Summary

• Wal-Mart WMT said it will offer free shipping on its website through December 20

• Research In Motion RIMM said it will offer its BlackBerry PlayBook tablet computer for less than $500, a move likely to undercut prices for Apple's AAPL winning iPad

• Cisco CSCO was downgraded by Deutsche Bank DB to “hold” from "buy," with the price target lowered from $28 to $22

• Goldman Sachs GS held onto its "neutral" rating, but cut the price target to $23 from $25

• Cisco missed whisper targets for its gross margins, with fiscal first quarter's 62.8% off estimates of 64%. The technology bellwether cautioned of slowing demand from European and public spending arenas, with its key service provider segment also showing signs of softness. Second quarter guidance also missed, with guidance for 32-35 cents off estimates of 42 cents

• Viacom VIA posted better-than-expected third quarter earnings of $0.75, that beat estimates of $0.69, on inline revenues of $3.33 billion

• Kohl's KSS reported third quarter earnings of $0.63, a one-penny beat, on revenues of $4.2 billion, off estimates of $4.3 billion

• Ingersoll-Rand IR will replace Pactiv PTV in the S&P500

• FBR maintained a "market perform" rating on Halliburton HAL with a price target of $40

• Jefferies JEF initiated coverage of Fifth Third Bancorp. FITB with a "buy" rating and a price target of $16

• Deutsche Bank DB reaffirmed a "buy" on Aetna AET with a price target of $36

 
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