Company News for April 9, 2010 - Corporate Summary
• Walmart (NYSE:WMT) announced price cuts on about 10,000 items, mainly food and other staples, in an aggressive campaign to hold onto market gains as a discount leader
• Constellation Brands (NYSE:STZ) reported estimate-beating results of 27 cents, three cents higher than expected, and up from 21 cents a year ago. Revenues missed estimates, however, coming in at $708.7 million, below estimates of $733.8 million. The firm also announced a $300 million share buyback
• JP Morgan (NYSE:JPM) downgraded Alcoa (NYSE:AA) from "overweight" to "neutral" taking the price target from $21.50 to $16.50
• Goldman Sachs (NYSE:GS) added JC Penney (NYSE:JCP) to its Conviction Buy List, and lifted its price target to $37 from $32
• Chevron (NYSE:CVX) provided its interim earnings update, advising its first quarter earnings will improve from fourth quarter 2009 results
• Soleil downgraded MGM Mirage (NYSE:MGM) from "hold" to "sell," with a price target of $11
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