Company News for September 8, 2010 - Corporate Summary

• Bristol-Meyers BMY said it agreed to acquire ZymoGenetics ZGEN for $9.75 per share, in a deal valued at 885 million

• A Bloomberg report said Vodafone VOD will sell its stake in China Mobile CHL for $6.6 billion

• Smithfield Foods SFD posted inline fiscal first quarter earnings of 46 cents a share on a 6.9% revenue increase to $2.90 billion, below estimates of $3.06 billion

• Phillips-Van Heusen PVH reported better-than-expected second quarter earnings of 72 cents a share, up from estimates of 54 cents on inline revenues of $1.1 billion, up 108% YoY. The firm also offered upside fiscal 2011 earnings and revenue guidance, with earnings of $3.70-$3.80 and revenues of $4.44-$4.47 billion anticipated

• Navistar NAV reported estimate-topping second quarter earnings of $1.83 a share, up from estimates of $1.47, on revenues of $3.22 billion, below estimates of $3.55 billion

• UBS UBS downgraded shares of Intel INTC to "neutral" from "buy," on slowing demand near-term for PCs

• Goldman Sachs GS upgraded Staples SPLS to "Conviction Buy" from "neutral," raising the price target from $22 to $23

• Wells Fargo WFC initiated coverage of Transocean RIG with an "outperform" rating and a target price range of $70-$72

 
BRISTOL-MYERS (BMY): Free Stock Analysis Report
 
CHINA MOBLE-ADR (CHL): Free Stock Analysis Report
 
GOLDMAN SACHS (GS): Free Stock Analysis Report
 
INTEL CORP (INTC): Free Stock Analysis Report
 
NAVISTAR INTL (NAV): Free Stock Analysis Report
 
PHILLIPS VAN HE (PVH): Free Stock Analysis Report
 
TRANSOCEAN LTD (RIG): Free Stock Analysis Report
 
SMITHFIELD FOOD (SFD): Free Stock Analysis Report
 
STAPLES INC (SPLS): Free Stock Analysis Report
 
VODAFONE GP PLC (VOD): Free Stock Analysis Report
 
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
 
ZYMOGENETICS (ZGEN): Free Stock Analysis Report
 
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