Company News for June 15, 2011 - Corporate Summary
June 15 2011 - 5:10AM
Zacks
• Share prices of J.C. Penney (NYSE:JCP) rose
17.47% to close at $35.37 after the mid-market U.S department store
chain said it has hired Ron Johnson as chief executive who will be
taking over from November. Johnson is a senior vice-president at
Apple, and has been successfully running the software major’s
retail stores for the last 11 years
• GT Solar International, Inc. (NASDAQ:SOLR)
closed 9.52% higher at $13.35 after the company hiked its
first-quarter revenue and profit outlook for the year
• Apple (NASDAQ:AAPL) settled its long-running
patent dispute with Finnish mobile phone maker Nokia (NYSE:NOK),
agreeing to pay Nokia for intellectual property used in its iPhone
devices
• Car hire group Avis Budget Group (NASDAQ:CAR)
said it has concluded an agreement to acquire Avis Europe, its
European counterpart in a deal worth around $1 billion
• Share prices of Dollar Thrifty Automotive
Group, Inc. (NYSE:DTG) slipped 9.32% to close at $72.43 after the
fourth-largest US car rental operator raised concerns that Avis
Budget (NASDAQ:CAR) might stop its bid for the company
• Technology giant Hewlett-Packard (NYSE:HPQ)
announced the exit of two of its senior executives. Following this
development, shares rose marginally to close at $34.73
• Intel Corporation (NASDAQ:INTC) announced a
partnership with Entropic Communications (NASDAQ:ENTR) which will
allow the company to develop an advanced video gateway
• RBC Capital initiated coverage on shares of
Morgan Stanley (NYSE:MS) with an "Underperform" rating and a target
price of $24.00
• UBS AG (NYSE:UBS) upgraded Ferrellgas Partners
L.P. (NYSE:FGP) to “Neutral” rating from “Sell” rating with a
target price of $22.00, down from $24.00
• Keybanc upgraded Kaydon Corporation (NYSE:KDN)
to “Buy” rating from “Hold” rating with a target price of
$40.00
• Analysts at BMO Capital Markets upgraded The
Fresh Market Inc (NYSE:TFM) to “Market perform” rating from
“Underperform” rating
• Canaccord Genuity upgraded Petroleum
Development Corporation (NASDAQ:PETD) to “Buy” rating from “Hold”
rating with a target price of $41.00
APPLE INC (AAPL): Free Stock Analysis Report
AVIS BUDGET GRP (CAR): Free Stock Analysis Report
DOLLAR THRIFTY (DTG): Free Stock Analysis Report
ENTROPIC COMMUN (ENTR): Free Stock Analysis Report
FERRELLGAS -LP (FGP): Free Stock Analysis Report
HEWLETT PACKARD (HPQ): Free Stock Analysis Report
INTEL CORP (INTC): Free Stock Analysis Report
PENNEY (JC) INC (JCP): Free Stock Analysis Report
KAYDON CORP (KDN): Free Stock Analysis Report
MORGAN STANLEY (MS): Free Stock Analysis Report
NOKIA CP-ADR A (NOK): Free Stock Analysis Report
PETROLEUM DEVL (PETD): Free Stock Analysis Report
GT SOLAR INTL (SOLR): Free Stock Analysis Report
FRESH MARKET (TFM): Free Stock Analysis Report
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