Company News for December 21, 2009 - Corporate Summary
• Pfizer (NYSE:PFE) purchased rights to Athersys' (NASDAQ:ATHX) stem-cell therapy for treatment of inflammatory bowel disease
• Terex (NYSE:TEX) plans to sell its mining business for $1.3 billion in cash to Bucyrus International (NASDAQ:BUCY)
• Sanofi-Aventis (NYSE:SNY) said it agreed to buy Chattem (NASDAQ:CHTT) for $93.50 per share or about $1.9 billion in cash, reflecting a 34% premium to Chattem's Friday's closing price
• Walgreen (NYSE:WAG) announced fiscal first quarter earnings of 52 cents a share, four cents above expectations, on revenues of $16.4 billion, which beat estimates of $16.3 billion. Same-store-sales grew 4.9%
• Piper Jaffray (NYSE:PJC) maintained its "overweight" rating on Cisco Systems (NASDAQ:CSCO), with a price target of $31, up from $28. The analyst noted, "Given our conviction regarding strength in the January quarter, robust forecasting for 1H of 2010 and a compelling valuation, we are highlighting CSCO as our top large-cap pick for 2010"
• ConAgra (NYSE:CAG) reported earnings from continuing operations of 55 cents a share versus estimates of 47 cents on inline revenues of $3.4 billion. The company lifted 2010 guidance to $1.73 from $1.70
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