Company News for January 12, 2010 - Corporate Summary

• Alcoa (NYSE:AA) reported fourth-quarter earnings excluding items of one cent a share, below estimates of 6 cents, and versus year-ago quarter’s 28 cent loss.  Revenues, however, came in better than expected at $5.43 billion, although under last year's $5.68 billion.  The firm blamed the results on higher power bills, a weak US dollar and the temporary closings of several Italian smelting plants

• Electronic Arts (NASDAQ:ERTS) lowered its fiscal third quarter and fiscal year 2010 guidance, cutting its projections for the second time in two months.  The firm said it sees non-GAAP revenues of $1.33-$1.35 billion, versus estimates of $1.42 billion, with earnings for the quarter 29-33 cents, off estimates of 56 cents

• Infosys (NASDAQ:INFY) reported better-than-expected third quarter earnings of 59 cents a share, beating estimates of 51 cents a share, on revenues of $1.23 billion

• JP Morgan's (NYSE:JPM) CEO Jamie Dimon called conditions in the commercial real estate market "a train wreck," but noted the worst is over

• Ford (NYSE:F) announced plans to invest $450 million in a Michigan electric car facility

• Emulex (NYSE:ELX) reported better-than-anticipated second quarter earnings, based on preliminary results, expecting "meaningful revenue growth this year"

• Goldman Sachs (NYSE:GS) upgraded Comerica (NYSE:CMA) to "buy" from "neutral," with a price target of $38

• Tiffany (NYSE:TIF) reported a 17% two-month sales increase through December, and lifted guidance for fiscal 2010 ending January 31 to $2.07 to $2.12 a share, from $1.88 to $1.98 a share. Wells Fargo (NYSE:WFC) initiated coverage of the shares with a "outperform" rating

• Goldman Sachs (NYSE:GS) downgraded Gap Inc. (NYSE:GPS) to "sell," with an $18 price target

• Goldman Sachs (NYSE:GS) upgraded shares of American Eagle Outfitters (NYSE:AEO) to "neutral" from "sell," with a $17 price target

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