Company News for June 17, 2010 - Corporate Summary

• Pier 1 PIR posted better-than-expected first quarter earnings of 7 cents a share, up from Zacks consensus of a 2 cent loss, on revenues of $306.3 million, above Zacks estimates of $305 million

• Smithfield Foods SFD reported in-line fourth quarter earnings of 18 cents a share, on revenues of $2.91 billion, slightly below Zacks estimates of $2.92 billion

• JM Smucker SJM posted fourth quarter earnings of $1.01, up from Zacks estimates of 80 cents, on revenues of $1.07 billion, slightly above Zacks estimates of $1.05 billion

• Goldman Sachs GS initiated coverage of Micron technology MU with a "buy" rating, and a price target of $12, and a "neutral" rating on SanDisk SNDK, with a price target of $40

• HSBC HBC initiated coverage of General Dynamics GD with an "overweight" rating and a price target of $75

• Despite an AT&T T computer glitch, Apple AAPL said its pre-order sales of iPhone 4s topped 600K, heading the new model toward prior sales of earlier iPhones and iPad devices