Company News for December 23, 2010 - Corporate Summary

• Rio Tinto RIO revised its bid amount for Riversdale Mining, offering $3.9 billion, up from $3.5 billion

• Bed Bath & Beyond BBBY posted fiscal third quarter profits of $0.74, below the Zacks Consensus Estimate of $0.93, and reported revenues of $2.2 billion, which are again well below the Zacks Consensus Estimate of $2.35 billion. The company announced its plans for a $2 billion stock repurchase program, and increased guidance for 2010 from 20% EPS growth to 25% at $2.86-$2.90, besting estimates of $2.80

• Micron Tech MU posted fiscal first quarter earnings of $0.15, well behind the Zacks Consensus Estimate of $0.19, as revenues rose 32% to $2.3 billion, beating the Zacks Consensus Estimate of $2.218 billion

• Leonard Green & Partners reported plans to buy Jo-Ann Stores JAS at $61 per share

• Goldman Sachs GS initiated coverage of ReneSola SOL at a "buy" rating with potential 31% upside price

 
BED BATH&BEYOND (BBBY): Free Stock Analysis Report
 
GOLDMAN SACHS (GS): Free Stock Analysis Report
 
JO-ANN STORES A (JAS): Free Stock Analysis Report
 
MICRON TECH (MU): Free Stock Analysis Report
 
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
 
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