Company News for March 10, 2010 - Corporate Summary
• Facet Biotech (NASDAQ:FACT) agreed to its purchase by Abbott Labs (NYSE:ABT) for $722 million or $27 per share.
• American Eagle Outfitters (NYSE:AEO) announced plans to shutter all 28 Martin & Osa stores. The company is due to report results today, with fourth quarter earnings of 33 cents versus 19 cents a year ago anticipated.
• Goldman Sachs (NYSE:GS) added Bucyrus (NASDAQ:BUCY) to its Conviction Buy List with an $80 price target.
• Several analysts reiterated "buy" recommendations on J Crew (NYSE:JCG), raising price targets. Late yesterday the firm posted a swing to profitability in its fourth quarter and forecast better-than-expected current year results of $2.20-$2.30; Street estimates were $2.13.
• Goldman Sachs (NYSE:GS) Conviction Buy List changes included additions of Evercore Partners (NYSE:EVR) and Goodrich (NYSE:GR); deletions were Lazard (NYSE:LAZ) and Textron (NYSE:TXT) although buy ratings were maintained.
• Childrens' Place (NASDAQ:PLCE) reported inline earnings and revenues, with earnings of $1.03 and revenues of $462 million. Full-year guidance of $2.90-$3.10 was provided; the Street expects $3.00.
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