Company News for April 1, 2010 - Corporate Summary
• Research in Motion (NASDAQ:RIMM) reported fourth quarter adjusted earnings ex-items of $1.27, up from 90 cents pro-forma earnings reported a year ago, but one cent short of Zacks estimates of $1.28. Sales of $4.08 billion were ahead of year ago's $3.46 billion, but missed targets of $4.31 billion, as 10.5 million devices were shipped versus the 11 million expected, at far below the firm's previously forecast average selling price of $320, coming in at $311. Goldman Sachs (NYSE:GS) lowered its rating on the firm from "neutral" to "sell," and the price target from $73 to $65
• Apple's (NASDAQ:AAPL) iPad hits store shelves on Saturday, with preliminary reviews sounding favorable
• Citigroup's (NYSE:C) Primerica IPO priced 21.4 million shares at a higher-than-expected $15 per share for a total of $320.4 million
• Mosaic (NYSE:MOS) reported a fiscal third quarter earnings miss at 50 cents, well below Zacks estimates of 63 cents, on revenues of $1.73 billion, which missed estimates of $1.87 billion
• CarMax (NYSE:KMX) fourth quarter numbers exceeded consensus hopes, as earnings of 33 cents beat estimates of 25 cents on revenues of $1.83 billion, which exceeded projections of $1.72 billion
• Scholastic (NASDAQ:SCHL) posted a narrower-than-anticipated loss of 4 cents versus estimates of a 12 cent per share loss as revenues of $398.8 million came in below Zacks projections of $421 million
• Deutsche Bank (NYSE:DB) downgraded shares of BlackRock (NYSE:BLK) from "buy" to "hold"
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