Company News for January 05, 2010 - Corporate Summary
• Kraft (NYSE:KFT) announced plans to utilize proceeds from the sale of its Canadian frozen food operations to Nestle for $3.75 billion cash, raising the cash portion of its hostile bid for Cadbury (NYSE:CBY) by 97 cents per share. Cadbury maintained the offer remains derisory
• Brightpoint (NASDAQ:CELL) said it sees fourth-quarter non-GAAP earnings of 13-18 cents per share, below estimates of 19 cents. However, the firm expects to continue market share gains in 2010
• Google (NASDAQ:GOOG) is hosting a media event for its Android phone, the Nexus One, moving into the smartphone business
• Morgan Stanley (NYSE:MS) issued a fresh "buy" rating on Research in Motion (NASDAQ:RIMM), with a $90 price target
• Morgan Stanley (NYSE:MS) initiated coverage of Motorola (NYSE:MOT) with an "underweight" rating
• Barclays (NYSE:BCS) initiated coverage of Las Vegas Sands (NYSE:LVS) with an "overweight" rating and a price target of $24
• Goldman Sachs (NYSE:GS) added Radio Shack (NYSE:RSH) to its Conviction Buy List with a price target increase from $21 to $25
• Credit Suisse (NYSE:CS) upgraded Potash (NYSE:POT) to "outperform," and upgraded Intrepid Potash (NYSE:IPI) to "perform" from "underperform"
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