Company News for December 01, 2009 - Corporate Summary

• General Electric (NYSE:GE) agreed with Vivendi to acquire the latter’s 20% NBC stake for $5.8 billion, down from Vivendi's previous valuation of $6.1 billion

• After yesterday's close, Guess (NYSE:GES) announced third quarter earnings of 69 cents a share, up from 67 cents a year ago, and better than the 51 cents anticipated, on revenues of $522.8 million, down from $527.9 million a year ago. Same-store-sales fell 3.4%.  Nevertheless, the firm guided higher, setting fourth quarter estimates at 77-80 cents

• Luxury retailer Saks (NYSE:SKS) received an improved outlook from Standard & Poor's Rating Services to "stable" from "negative."

• Goldman Sachs (NYSE:GS) removed Abbott Labs (NYSE:ABT) from its Conviction Buy List, taking Eli Lilly (NYSE:LLY) off its Conviction Sell List as well, while maintaining "buy" and "sell" ratings on the respective stocks

• Staples (NASDAQ:SPLS) reported third quarter results one cent above estimates at 39 cents on inline revenues of $6.5 billion, up 6%

• Citigroup (NYSE:C) issued upgrades on regional banks Fifth Third (NASDAQ:FITB) and BB&T (NYSE:BBT)

• JP Morgan (NYSE:JPM) lowered its earnings projections for: Wells Fargo (NYSE:WFC), Fifth Third (NASDAQ:FITB), Bank of America (NYSE:BAC) and SunTrust (NYSE:STI)

• JP Morgan (NYSE:JPM) upgraded Mentor Graphics (NASDAQ:MENT) to "overweight" from "underweight," with a price target of $10.50, up from $9.00

Zacks Investment Research