Company News for December 17, 2009 - Corporate Summary

• UBS (NYSE:UBS) began coverage of Bank of America (NYSE:BAC) with a "buy" rating after the company named Brian Moynihan as its new CEO

• General Mills (NYSE:GIS) posted fiscal second quarter earnings of $1.54 a share, versus Zacks estimates of $1.45 a share on sales of $4.08 billion. Citing first half operation performance and business momentum, the company raised its 2010 guidance to $4.52 to $4.57 a share from $4.40 to $4.45 a share

• Citigroup's (NYSE:C) secondary offering is priced at a lower-than-expected $3.15, a 20% discount to prior-to-offering-announcement levels.  The US Treasury has delayed its plans to sell $5 billion in Citi shares following news of the weak demand

• Wells Fargo (NYSE:WFC) raised about $12.25 billion, as its common share offering priced at a 2% discount to pre-announcement levels. The firm expects to use the funds to help repay $25 billion TARP bailout money

• Analysts at Goldman Sachs (NYSE:GS) and JP Morgan (NYSE:JPM) upgraded General Electric (NYSE:GE) price target to $20

• Johnson & Johnson (NYSE:JNJ) announced plans to acquire privately-held Acclarent Inc. for $785 million in cash

• Boeing (NYSE:BA) received a $704.4 million Army contract for 21 new and 14 remanufactured Ch-47F Chinook helicopters

• First Solar (NASDAQ:FSLR) said it sees higher-than-estimated 2010 sales, and will increase production capacity in Malaysia

• Cedar Fair (NYSE:FUN) announced an agreement to be acquired by an affiliate of Apollo Global Management for about $2.4 billion, or $11.50 per share in cash

• Pier 1 Imports (NYSE:PIR) reported third quarter earnings of 37 cents a share, including a $55.6 million tax benefit, versus Zacks estimates of a 3 cent loss and a year-ago loss of 41 cents a share.  Revenues of $327 million topped Zacks projections of $320 million

• Goldman Sachs (NYSE:GS) added Harley-Davidson (NYSE:HOG) to its Conviction Sell List with a price target of $23, with concerns on retail sales noted

• AutoZone's (NYSE:AZO) Board of Directors has authorized an additional repurchase of $500 million shares

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