Company News for August 16, 2010 - Corporate Summary

• Dell DELL said it will buy Fremont, California-based storage company 3Par PAR in an all-cash deal valued at $18 per share, representing an 86% premium over its Friday close

• Lowe's LOW reported second-quarter earnings of $0.58 per share, on revenues of $14.4 billion, vs. consensus estimates of $0.59 and revenue of $14.52 billion. Same-store sales rose 1.6% during the quarter. For full fiscal-year 2010, the company sees earnings of $1.38 to $1.45 a share

• Mining group Vedanta Resources said it plans to buy as much as 60% of Cairn India in an all-cash deal worth as much as $9.6 billion

• The Wall Street Journal reported that Hewlett-Packard's HPQ board of directors ousted former CEO Mark Hurd on August 6th after he settled a sexual harassment claim without the board of director's knowledge. However, the report also indicated that another source with knowledge of the situation said the board had been encouraging him to settle the claim before a mediation session

• Agrium AGU made a surprise bid for Australia's AWB of $1.1 billion, beating a rival offer from GrainCorp

• Reports said Bank of America BAC could cut its 34% stake in BlackRock BLK in an effort to shed its non-core assets

 
AGRIUM INC (AGU): Free Stock Analysis Report
 
BANK OF AMER CP (BAC): Free Stock Analysis Report
 
BLACKROCK INC (BLK): Free Stock Analysis Report
 
DELL INC (DELL): Free Stock Analysis Report
 
HEWLETT PACKARD (HPQ): Free Stock Analysis Report
 
LOWES COS (LOW): Free Stock Analysis Report
 
Zacks Investment Research