Company News for May 2, 2011 - Corporate Summary
May 02 2011 - 5:06AM
Zacks
• Research firm Argus downgraded
Flextronics International Ltd. (NASDAQ:FLEX) from "buy" to "hold"
rating
• Merck & Co. Inc.'s (NYSE:MRK) earnings per
share (excluding special items) for the first quarter of 2011
came in at 92 cents, well above the Zacks Consensus Estimate of 84
cents and the year-ago earnings of 83 cents
• Aon Corporation (NYSE:AON) reported Q1 EPS of
$0.80, ex-items, in line with the Zacks Consensus Estimate
• Verizon Communications Inc. (NYSE:VZ) fell
after Citigroup downgraded the company from "buy to "hold" rating,"
citing valuation
• ConAgra Foods, Inc. (NYSE:CAG) made an
unsolicited bid for Ralcorp Holdings Inc. (NYSE:RAH), according to
a report
• Chevron Corp. (NYSE:CVX) reported a jump in its
first-quarter 2011 profits, benefiting from higher oil prices and
stronger refining margins. Earnings per share (excluding
adjustments for foreign-currency effects) came in at $3.17, above
the Zacks Consensus Estimate of $2.99 and the year-ago adjusted
profit of $2.37
• Total SA (NYSE:TOT) announced its plans to buy
a 60% stake for about $2.3 billion in SunPower Corporation
(NASDAQ:SPWRA)
• DR Horton Inc. (NYSE:DHI) reported net income
of $27.8 million or 9 cents per share in the second quarter of
fiscal 2011. However, on excluding a non-cash tax benefit of $59.2
million and charges of $14.3 million for inventory impairments and
land option cost write-offs, DR Horton realized a net loss of $17.1
million or 5 cents per share at par with the Zacks Consensus
Estimate
AON CORP (AON): Free Stock Analysis Report
CONAGRA FOODS (CAG): Free Stock Analysis Report
CHEVRON CORP (CVX): Free Stock Analysis Report
D R HORTON INC (DHI): Free Stock Analysis Report
FLEXTRONIC INTL (FLEX): Free Stock Analysis Report
MERCK & CO INC (MRK): Free Stock Analysis Report
SUNPOWER CORP-A (SPWRA): Free Stock Analysis Report
TOTAL FINA SA (TOT): Free Stock Analysis Report
VERIZON COMM (VZ): Free Stock Analysis Report
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