Company News for August 12, 2010 - Corporate Summary

• After yesterday's close, Cisco CSCO reported fiscal fourth quarter adjusted earnings of 43 cents a share as revenues increased 27% to $10.84 billion, just below Zacks estimates at $10.86 billion. The company said it sees first-quarter revenue of $10.62 billion to $10.82 billion, an 18-20% y/y increase

• Advance Auto Parts AAP posted second quarter earnings of $1.16, fourteen cents above Zacks projections, on a 7.2% revenue increase to $1.42 billion, just above estimates of $1.41 billion

• Goldman Sachs GS maintained a "buy" on Macy's M and raised its price target to $24 from $22, after Macy's reported better-than-expected results yesterday and issues upside guidance. Goldman raised 2010 earnings estimate to $1.90 from $1.78 and 2011 to $2.15 from $2.01

• Citigroup C upgraded eBay EBAY to "buy" from "hold," maintaining a $28 price target on the shares, noting valuation appeal after recent sell-off

• Briggs & Stratton BGG posted better-than-expected earnings of 36 cents, a 12-cent beat on revenues of $615.6 million, up from estimates of $538 million. The company set guidance for 2011 at $1.20-$1.40, versus Street estimates of $1.31

 
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