Company News for January 07, 2010 - Corporate Summary
• General Motors' CEO Whitacre promised the company's first year of profitability in 2010 following five years of losses
• Microsoft's (NYSE:MSFT) CEO Ballmer's opening address in Las Vegas focused on the company's touch-tablet from Hewlett-Packard (NYSE:HPQ), planned for introduction this year
• Sony (NYSE:SNE) says the US holiday season was better than anticipated, on increased demand for flat-screen televisions, electronic readers and Blu-ray video players
• Sun Healthcare (NASDAQ:SUNH) said it sees 2010 earnings of 92 cents to 98 cents per share on revenues of $1.93 billion to $1.954 billion
• Wells Fargo (NYSE:WFC) sees "modestly improved revenue performance and slightly lower costs" at US large-cap regional banks, resulting in pre-provision net sales growth of about 5% from the previous quarter, with credit costs falling about 4%
• Credit Suisse (NYSE:CS) upgraded Bank of America (NYSE:BAC) to "outperform" raising the price target to $21 from $17
• Citigroup (NYSE:C) downgraded Alcoa (NYSE:AA) to "hold," maintaining a $17 price target. Goldman Sachs (NYSE:GS) yesterday forecasted strong fourth quarter results likely to be revealed in next week's interim report
• Goldman Sachs (NYSE:GS) downgraded Reynolds America (NYSE:RAI) to "sell," with a price target of $53
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