Company News for July 14, 2010 - Corporate Summary - Bank of America (NYSE:BAC), Best Buy Co (NYSE:BBY)

Johnson & Johnson JNJ posted second quarter EPS of $1.15 which was lower than Zacks estimates of $1.21 and $1.18 in the year ago period. Revenues were $15.2 billion in the second quarter lower than Zacks estimates of $15.7 billion
Microsoft MSFT faced negative reporting from a ScriptLogic survey that suggested that six out of ten firms would not purchase the newest version of its operating software. On the other hand, the company announced plans to launch a free online software next year
Fastenal FAST reported second quarter earnings of 29 cents per share on revenues of $474.9 million
Dell DELL warned of pressure on gross margin in the second quarter and stated that it was likely to generate only slight sequential revenue growth versus earlier estimate of 1.6% growth. Although, Dell asserted stabilization in demand for IT products on a year-over-year basis, the company added that its profits were adversely affected by higher component costs, a competitive pricing environment, and an unfavorable mix of product and business-segment demand
CSX CSX reported better-than-expected EPS of 72 cents from continuing operations versus 95 cents in the year ago period, despite a 21% decline in shipping volumes and lower fuel surcharge recovery
Oppenheimer upgraded Best Buy BBY, asserting that the shares are currently oversold
OSI Pharmaceuticals OSIP reported successful completion of a Phase III study, demonstrating increased survival rate following initial chemotherapy treatment for patients suffering from advanced non-small cell lung cancer
Citigroup C upgraded shares of Blue Nile NILE to Buy from Hold while maintaining a $50 price target
Burger King BKC was downgraded by Bank of America BAC to Neutral with a lowered price point of $19 compared with $22 earlier
Masco MAS was downgraded by JP Morgan JPM to Underweight from Overweight, with its price target reduced to $6.50 from $7.50

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Company News for July 14, 2010 - Corporate Summary

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