Company News for June 3, 2010 - Corporate Summary

• Two senior US Senators called for BP BP to suspend dividend payments to shareholders before clean-up costs for the Gulf spill can be determined.  Fitch downgraded its shares to AA from AA+ on growing clean-up risk exposure

• Joy Global JOYG reported much-better-than-expected first quarter results of $1.15, versus Zacks estimates of 77 cents a share and up from 77 cents a year ago, on revenues of $896 million, ahead of Zacks estimates of $766 million.  The company also increased its full-year outlook to $3.85-$4.00

• Thoma Bravo acquired SonicWALL SNWL for $717 million, or $11.50 per share

• Hovnanian HOV reported fiscal second quarter loss of 36 cents a share, well below Zacks estimates for a 69 cent loss on revenues of $318.6 million, below Zacks estimates of $353 million

• Charming Shoppes CHRS reported first quarter earnings of 3 cents per share, versus Zacks estimates of 2 cents on revenues of $504.8 million, versus Zacks estimates of $496 million

• Suntech Power STP reported quarterly earnings of 11 cents, a 3-cent miss, on revenues of $588 million, which beat Zacks estimates of $560 million

• FBR upgraded Charles Schwab SCHW from "perform" to "outperform," taking the price target from $16 to $20

• Costco COST posted a same-store-sales increase of 9% in May, which fell shy of estimates for a 9.7% rise