Company News for June 21, 2011 - Corporate Summary
June 21 2011 - 5:10AM
Zacks
• Manufacturer and distributors of stainless
steel and titanium products, Carpenter Technology (NYSE:CRS)
has concluded a merger agreement with Latrobe Specialty Metals as
per which the former will acquire the latter in a deal worth around
$558 million
• Shares of PNC Financial Services (NYSE:PNC)
fell marginally, by 1.96% after the company announced it was
acquiring the U.S. retail banking operations of the Royal Bank of
Canada for $3.45 billion
• Chinese electric-motor manufacturer Harbin
Electric (NASDAQ:HRBN) has entered into a definitive agreement as
per which it will be acquired by a company owned by Chairman and
Chief Executive Tianfu Yang for $744 million
• Share prices of Agrium Inc. (NYSE:AGU) jumped
4.05% to close at $82.98 after the company increased its outlook
for second quarter earnings. Agrium said strong retail sales and
higher nutrients prices were the factors behind this revision
• PetSmart, Inc. (NASDAQ:PETM) share prices
increased marginally, by 2.19%, to close at $44.34 after the
provider of specialty pet products increased its dividend payout
and initiated a share buyback program
• Early on Monday, Acura Pharmaceuticals, Inc.
(NASDAQ:ACUR) announced that its pain treatment which is owned
jointly by Acura and Pfizer Inc (NYSE:PFE) has received approval
from the FDA. Reacting to the news, share prices of the pharma
company rose 16.28% to close at $4.50
• ISI Group upgraded shares of Biogen Idec Inc.
(NASDAQ:BIIB) from "Hold" rating to "Buy" rating after the
company's multiple sclerosis drug BG-12's showed promising
results
• Analysts at Deutsche Bank (NYSE:DB) upgraded
Ashland Inc. (NYSE:ASH) to “Buy” rating from “Hold” rating
with a target price of $75.00
• Analysts at Goldman Sachs (NYSE:GS) upgraded
the coal sector to “Attractive” rating from “Neutral” rating
• Analysts at Robert W. Baird downgraded Almost
Family, Inc. (NASDAQ:AFAM) to “Underperform” rating from “Neutral”
rating and lowered the target price from $32.00 to $21.00
• Shares of Skyworks Solutions (NASDAQ:SWKS) were
downgraded by analysts of Deutsche Bank (NYSE:DB) from "Buy" rating
to "Hold" while its target price was lowered from $40.00 to
$30.00
ALMOST FAMILY (AFAM): Free Stock Analysis Report
AGRIUM INC (AGU): Free Stock Analysis Report
ASHLAND INC (ASH): Free Stock Analysis Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis Report
CARPENTER TECH (CRS): Free Stock Analysis Report
DEUTSCHE BK AG (DB): Free Stock Analysis Report
DEUTSCHE BK AG (DB): Free Stock Analysis Report
GOLDMAN SACHS (GS): Free Stock Analysis Report
HARBIN ELEC INC (HRBN): Free Stock Analysis Report
PETSMART INC (PETM): Free Stock Analysis Report
PFIZER INC (PFE): Free Stock Analysis Report
PNC FINL SVC CP (PNC): Free Stock Analysis Report
SKYWORKS SOLUTN (SWKS): Free Stock Analysis Report
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