Company News for June 16, 2010 - Corporate Summary

• Bellwether FedEx FDX reported fiscal fourth quarter earnings 2 cents better than expected, posting at $1.33 on revenues of $9.43 billion, besting $9.04 billion expectations. The company said it sees first quarter earnings of $0.85 to $1.05 range versus estimates of $1.03

• Piper Jaffray PJC raised the price target on Apple AAPL shares to $348 from $330, citing demand for the iPhone 4

• Jefferies JEF initiated coverage on Caterpillar CAT with a "buy" rating and a price target of $75

• Goldman Sachs GS downgraded DreamWorks DWA to "neutral" from "buy," cutting the price target to $35 from $42

• JP Morgan JPM downgraded BH Billiton BHP to "underweight" from "neutral"

• Morgan Stanley MS started coverage of Tiffany TIF with an "overweight" rating and a price target of $37.60

• FBR initiated coverage of JP Morgan JPM with an "outperform" rating and a $45 price target