Company News for March 24, 2010 - Corporate Summary
• General Mills (NYSE:GIS) posted better than expected earnings on inline revenues. Fiscal third quarter earnings of 97 cents beat Zacks estimates by 4 cents versus 79 cents a year earlier, on inline revenues of $3.63 billion. The company said it sees full-year earnings of $4.57 to $4.59 per share
• Lennar (NYSE:LEN) reported a narrower-than-expected loss of 4 cents a share versus Zacks estimates of a 32 cent loss, much improved from the prior year's 98 cent loss. Revenues of $574.4 million came in better than expected $568 million
• Adobe (NASDAQ:ADBE) reported a 9% sales gain and 3 cent better than anticipated earnings with favorable second quarter guidance provided. Fiscal first quarter earnings of 40 cents ex-items topped estimates of 37 cents on revenues of $858.7 million, ahead of Zacks projections of $827 million. Several firms, including Goldman Sachs (NYSE:GS) and FBR boosted price targets on the company's shares
• Macquarie upgraded Boeing (NYSE:BA) to "outperform" from "neutral"
• Goldman Sachs (NYSE:GS) reiterated their Conviction Buy consideration on Domtar (NYSE:UFS) with a price target of $82
• Deutsche Bank (NYSE:DB) resumed coverage of Stanley Black and Decker (NYSE:SWK) with a "buy" rating and a price target of $70
• FBR reiterated its "outperform" opinion on EMC (NYSE:EMC) with a price target of $23, up from $21
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