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Morning Market Movers
Monday, June 27, 2011 - 9:46am | 151Icagen Inc (NASDAQ: ICGN) shares surged 129.18% to $5.50 at 9:45 am. Pfizer Inc (NYSE: PFE) reported that it is considering a strategic transaction with Icagen. Tiens Biotech Group (USA) Inc (AMEX: TBV) shares gained 64.08% to $1.69. TBV shares have dropped 43.72% over the past 52 weeks, while the...
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Goldman Sachs Reiterates Neutral on Rite Aid Corporation, Raises PT to $1.40
Monday, June 27, 2011 - 9:13am | 43Goldman Sachs reiterated its Neutral rating on Rite Aid Corporation (NYSE: RAD). At the same time, Goldman raised its price target on the company's stock from $1.25 to $1.40. On Friday, Rite Aid closed the week at $1.20.
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Clorox Germicidal Wipes Receive U.S. EPA Registration to Kill Clostridium difficile Spores in Five Minutes
Monday, June 27, 2011 - 9:01am | 54The Clorox Company (NYSE: CLX) announced today at the Association for Professionals in Infection Control and Epidemiology annual meeting that the U.S. Environmental Protection Agency accepted the registration of Clorox Commercial Solutions Clorox Germicidal Wipes to kill Clostridium difficile (C....
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Chiquita Announces Proposed Refinancing
Monday, June 27, 2011 - 8:31am | 197Chiquita Brands International, Inc. (NYSE: CQB) today announced that it has commenced a refinancing of a portion of its existing indebtedness, including its 8 7/8% Senior Notes due 2015 and existing Senior Credit Facility. As part of the refinancing, the company has commenced a cash tender offer (...
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Sara Lee Could be M&A Target from Smithfield
Monday, June 27, 2011 - 8:25am | 48Smithfield (NYSE: SFD) looking for acquisitions and could be targeting Sara Lee (NYSE: SLE). Read more from this Bloomberg story.
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Benzingas Top Downgrades
Monday, June 27, 2011 - 8:23am | 137Analysts at Nomura downgraded Koninklijke Philips Electronics NV (NYSE: PHG) from “buy” to “neutral.” PHG 's shares closed at $23.76 on Friday. PHG's trailing-twelve-month profit margin is 5.38%. Analysts at Ticonderoga downgraded Molex Incorporated (NASDAQ: MOLX) from “neutral” to “sell.” Molex's...
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CLSA Upgrades PepsiCo To Outperform, Raises PT To $81
Monday, June 27, 2011 - 8:17am | 26CLSA has upgraded PepsiCo (NYSE: PEP) from Underperform to Outperform and has raised the price target from $74 to $81.
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First Global Reiterates Market Perform on Walgreens
Monday, June 27, 2011 - 7:58am | 131First Global is out with its report today on Walgreens (NYSE: WAG), reiterating Market Perform. In a note to clients, First Global writes, "WAG has decided not to renew its contract with pharmacy benefit manager, Express Scripts Inc. (NASDAQ: ESRX), with effect from January 1, 2012, due to...
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Benzingas Top Upgrades
Monday, June 27, 2011 - 7:57am | 146Analysts at HSBC upgraded BHP Billiton Limited (NYSE: BHP) from “neutral” to “overweight.” BHP's shares closed at $88.61 on Friday. BHP's PEG ratio is 0.93. Analysts at Goldman Sachs upgraded ConAgra Foods Inc (NYSE: CAG) from “neutral” to “buy.” CAG's shares closed at $25.20 on Friday. ConAgra's...
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Goldman Sachs Upgrades ConAgra To Buy
Monday, June 27, 2011 - 7:49am | 76According to Goldman Sachs, ConAgra (NYSE: CAG) shares are upgraded to Buy. Goldman Sachs said that CAG has modest leverage and strong FCF and we believe its recent Ralcorp offer shows a new willingness to aggressively utilize its available capital. “We are raising our 12-month P/E derived price...
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JP Morgan Reiterates OW Rating on General Mills
Monday, June 27, 2011 - 7:43am | 115JP Morgan is reiterating its Overweight rating on General Mills, Inc. (NYSE: GIS). “We continue to like Mills given better pricing, forthcoming innovation, and an improving U.S. cereal category,” JP Morgan writes. “Additionally, we suspect the announced Yoplait acquisition could prove accretive,...
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JP Morgan Downgrades Delhaize Group To Underweight
Monday, June 27, 2011 - 7:35am | 20JP Morgan has downgraded Delhaize Group (NYSE: DEG) from Neutral to Underweight.
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A Peek Into The Market Before The Trading Starts
Monday, June 27, 2011 - 7:32am | 442Pre-open movers US stock futures are higher this morning, as investors are awaiting data on consumer spending. Futures on the Dow Jones Industrial Average surged 26 points to 11,907.00 and futures on the S&P 500 stock index rose 4.20 points to 1,267.20. Nasdaq 100 futures jumped 7.75 points to...
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Goldman Sachs Raises PT On Rite Aid To $1.40
Monday, June 27, 2011 - 7:13am | 27Goldman Sachs has raised the price target on Rite Aid (NYSE: RAD) from $1.25 to $1.40 and maintains its Neutral rating.
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Morgan Stanley Reiterates Equal-Weight on Smithfield Foods
Monday, June 27, 2011 - 6:21am | 47Morgan Stanley reiterated its Equal-Weight rating on Smithfield Foods (NYSE: SFD). At the moment, Morgan Stanley does not have a price target placed on the company's stock. On Friday, Smithfield added 0.41% to its value to close the week at $21.87.