Company News for March 19, 2010 - Corporate Summary

• Perry Ellis (NASDAQ:PERY) posted fiscal fourth quarter earnings a nickel above estimates at 64 cents versus a loss of $1.58 a year ago, on revenues of $196.4 million, slightly under estimates of $198.91 million. The retailer said it sees fiscal 2011 earnings of $1.25 to $1.40

• According to the China Business News, Google (NASDAQ:GOOG) may withdraw from its China internet search operations in April.  The report said an announcement by Google on Monday is possible

• Piper Jaffray (NYSE:PJC) raised its price target on GameStop (NYSE:GME) to $18 from $16 while keeping a neutral stance on the shares

• Goldman Sachs (NYSE:GS) upgraded shares of Best Buy (NYSE:BBY) to "buy" from "neutral," increasing the price target from $44 to $47

• Palm (NASDAQ:PALM) shares surged 5.2% in Thursday trade until its fiscal third quarter results and conference call comments caused a 15.2% fall in pre-market trade Friday. Third quarter results, a 61 cent loss, compared with Zacks estimates of 41 cents loss.  The company said it expects fourth quarter revenue of under $150 million.  Several firms, including Piper Jaffray (NYSE:PJC) and Deutsche Bank (NYSE:DB) lowered their target prices for the shares

• SunPower (NASDAQ:SPWRA) posted fiscal fourth quarter earnings of 47 cents ex-items on revenues of $547.9 million, up 38%.  Consensus estimates were 49 cents on revenues of $490.9 million. The firm expects a breakeven fiscal first quarter on revenues of $330-$350 million. Projections for 2010 were set at $1.25-$1.65. Accounting problems in the Philippines will result in adjustments for past two year results

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