Company News for March 30, 2010 - Corporate Summary
• A WSJ report that Apple (NASDAQ:AAPL) is developing an iPhone with CDMA capability for Verizon (NYSE:VZ) as well as a new iPhone to be offered this summer sent shares in the firm up 4% in pre-market trade. Verizon shares are trading 1.3% higher, with AT&T (NYSE:T) up 1.0%. Research in Motion (NASDAQ:RIMM) shares are down 1.6% on the news
• Vale (NASDAQ:VALE) and Nippon Steel reportedly agreed to a $105 per ton iron ore price, up about 90% from 2009, as Japanese steelmakers moved to price quarterly rather than annually. Vale also received an upgrade from Canaccord Adams to "buy" from "hold" on expectations for stronger iron-ore prices
• A media report today asserted a turnaround in UBS' (NYSE:UBS) fixed-income operations during the first quarter, with revenues of more than $2.3 billion expected from the unit, up sharply from the $467 million from fixed income sales and trading reported in the final quarter of 2009
• Chubb Corp (NYSE:CB) noted the firm expects around $290 million charges from catastrophic losses in the first quarter
• McDonalds (NYSE:MCD) said it plans to open over 2,000 stores by the end of 2013. The company anticipates good comparable sales from Asia-Pacific, Middle East and Africa markets
• LDK SOLAR (NYSE:LDK) reported fourth quarter earnings of 3 cents, 9 cents ahead of consensus estimates on revenues of $304.6 million, which bested estimates of $301.9 million. The firm said it expects quarter earnings of $310 million to $330 million
• Avnet (NYSE:AVT) announced plans to buy Bell Microproducts (NASDAQ:BELM) in an all-cash deal valued at $594 million including debt
• FBR pushed its price target for Netflix (NASDAQ:NFLX) to $85 from $71, with positive remarks attending
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