Company News for April 8, 2010 - Corporate Summary
• General Motors announced a $4.3 billion, post-bankruptcy loss in the second half of 2009, as revenue reached $57.5 billion
• Bed Bath and Beyond (NYSE:BBBY) posted better-than-expected fiscal fourth quarter earnings of 86 cents a share, up from Zacks estimates of 73 cents, on revenues of $2.24 billion, which were ahead of Zacks projections of $2.11 billion
• Palm (NASDAQ:PALM) shares jumped 20% on speculation the firm is a potential merger candidate
• UAL's United Airlines (NASDAQ:UAUA) and US Airways (NYSE:LLC) have restarted merger discussions. The combined firms would represent the second-largest US airline
• Apple (NASDAQ:AAPL) announced plans to host an event to display its new iPhone operating system
• Costco (NASDAQ:COST) reported same-store March sales jumped 10%, slightly ahead of 9.3% growth projections
• Abercrombie and Fitch (NYSE:ANF) posted same-store-sales gains of 5% for March, slightly below estimates of a 6.6% increase
• Pier 1 (NYSE:PIR) reported inline earnings of 31 cents a share on inline revenues of $396 million
• Jefferies (NYSE:JEF) downgraded Monsanto (NYSE:MON) to "hold" from "buy," cutting its price target from $100 to $71. On Wednesday the firm reported an earnings miss and offered weak guidance
• Navistar (NYSE:NAV) said it sees fiscal 2010 earnings of $2.75 to $3.25 a share
• UBS (NYSE:UBS) reiterated its "buy" rating on Wynn Resorts (NASDAQ:WYNN), lifting the price target from $76 to $95
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