Company News for February 16, 2010 - Corporate Summary

• Kraft (NYSE:KFT) posted better-than-expected fourth quarter earnings, with results 3 cents ahead of estimates at 48 cents, but revenues of $11 billion were just below $11.07 billion projections

• Merck (NYSE:MRK) beat earnings and sales estimates and backed 2010 guidance, with adjusted earnings of 79 cents, a one cent beat, and revenues of $10.1 billion, up from estimates of $9.38 billion

• Abercrombie and Fitch (NYSE:ANF) posted better-than-expected earnings of 91 cents a share, up from 87 cent projections on revenues of $936 million, off estimates of $954 million

• Curtiss-Wright (NYSE:CW) posted better-than-projected sales and earnings for its fourth quarter, with earnings of 76 cents, a two-penny beat, on revenues of $503 million up from $495 million estimates. The company said it sees full-year earnings of $2.15 to $2.25 a share

• Goldman Sachs (NYSE:GS) upgraded Auto Desk (NASDAQ:ADSK) to "buy," with a price target of $30, up from $27

• Oppenheimer issued a report on General Electric (NYSE:GE), in which they forecast declining write-offs and provisions at GE Capital sooner and earlier projected with rating reiterated at "outperform," and a price target of $20.

• JP Morgan (NYSE:JPM) reportedly plans to pay $1.7 billion for Sempra Energy (NYSE:SE)

• Terra Industries (NYSE:TRA) accepted a $4.1 billion takeover bid from Norway's Yara

• Rigel Pharmaceuticals (NASDAQ:RIGL) reached a deal to license its rheumatoid arthritis drug to AstraZeneca (NYSE:AZN) for as much as $1.25 billion before royalties

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