Company News for December 07, 2009 - Corporate Summary

• MetLife (NYSE:MET) provided better-than-consensus 2010 earnings expectations of $4.00-$4.40, ahead of the Street forecast of $4.11.  The firm said it sees fourth-quarter revenues and fees of $8.50-$9.10 billion, with earnings of 90-95 cents

• Cummins (NYSE:CMI) was added to Goldman Sachs' (NYSE:GS) Conviction Buy list, with a $60 price target.  Estimates of 2010 results were increased to $2.15, and for 2011 to $3.65.  Goldman said, "CMI is best positioned in our coverage to benefit from accelerating emerging market fixed investment (30% of CMI profits) and intensifying global diesel engine regulations, as concerns of a "truck-less" US economic recovery following weak November orders provides an attractive entry point"

• Marvell Technology (NASDAQ:MRVL) received an increased price target from Broadpoint AmTech as it reiterated its "buy" rating and upped its price target to $23. According to the firm, "We view MRVL as a solid play on a PC recovery with upside from share gains at STX and Hitachi or the iPhone ramp in China. The stock trades at 12x our new FY11 estimate of $1.40, a discount to our 25% revenue and 46% EPS growth for FY11"

• McDermott announced plans for a tax-free spinoff of B&W, which would result in two independent, publicly-traded firms: Babcock & Wilcox and J. Ray McDermott. The transaction is anticipated to be complete in the next nine to twelve months

• Goldman Sachs (NYSE:GS) upgraded Potash (NYSE:POT) to "buy," with a price target of $140

• Akami (NASDAQ:AKAM) raised fourth quarter guidance to 42-43 cents up from 39-41 cents, ahead of Street estimates of 40 cents. Revenue guidance was raised to $230-$235 million up from $217-$224 million

• Wells Fargo (NYSE:WFC) upgraded the hospital sector, offering an overweight rating on Health Management (NYSE:HMA)

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