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Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal

By Zacks Investment Research on | More Posts By | Zacks.com
  • Hewlett Packard (NYSE:HPQ) reported strong results after Monday’s close, helped by robust sales in China and improved margins on its service operations. The firm also increased share repurchases to $12 billion and projected fiscal 2010 earnings of $4.25 to $4.35 a share on revenues of $118 billion to $119 billion, inline with its earnings’ preannouncement two weeks earlier
  • Analog Devices (NYSE:ADI) reported better-than-expected fiscal fourth quarter earnings of 36 cents a share, 10 cents above Zacks estimates, on revenues of $572 million, which beat projections of $523 million, but fell short of last year’s $660.7 million. The firm expects fiscal first quarter results of 36 cents to 37 cents a share
  • Heinz (NYSE:HNZ) reported fiscal second quarter earnings of 76 cents a share, beating estimates of 69 cents, on revenues of $2.67 billion, above estimates of $2.63 billion. Full-year guidance was raised to $2.72-$2.82 from earlier expectations of $2.60 to $2.70 a share
  • Medtronic (NYSE:MDT) reported better-than-expected third quarter results of 77 cents ex-items, 3 cents above estimates, on revenues of $3.84 billion, which topped estimates of $3.75 billion. The company expects fiscal 2010 adjusted earnings of $3.17-$3.22, above Street projections of $3.15
  • Reports said Citigroup (NYSE:C) is selling its Diners Club credit card enterprise to Bank of Montreal for about $1 billion
  • UBS (NYSE:UBS) downgraded Union Pacific (NYSE:UNP) to “neutral” but maintained a $67 price target
  • National Semiconductor (NYSE:NSM) was added to Citigroup’s (NYSE:C) Top Picks Live List, with a $20 price target
  • JP Morgan (NYSE:JPM) reiterated its “overweight” rating on General Electric (NYSE:GE) on improvements in fundamentals

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