» » Stock Market News Briefs: Bank Of America, Best Buy Co., Burger King Holdings, Citigroup, CSX, J P Morgan Chase & Co, Johnson & Johnson, Masco, Owens Corning Inc, Blue Nile, Dell, Fastenal Company, Microsoft, OSI Pharmaceuticals
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Stock Market News Briefs: Bank Of America, Best Buy Co., Burger King Holdings, Citigroup, CSX, J P Morgan Chase & Co, Johnson & Johnson, Masco, Owens Corning Inc, Blue Nile, Dell, Fastenal Company, Microsoft, OSI Pharmaceuticals

By Zacks Investment Research on | More Posts By | Zacks.com
  • ·         Johnson & Johnson (NYSE:JNJ) posted second quarter EPS of $1.15 which was lower than Zacks estimates of $1.21 and $1.18 in the year ago period. Revenues were $15.2 billion in the second quarter lower than Zacks estimates of $15.7 billion 
  • ·         Microsoft (NASDAQ:MSFT) faced negative reporting from a ScriptLogic survey that suggested that six out of ten firms would not purchase the newest version of its operating software. On the other hand, the company announced plans to launch a free online software next year 
      
  • ·         Fastenal (NASDAQ:FAST) reported second quarter earnings of 29 cents per share on revenues of $474.9 million 
      
  • ·         Dell (NASDAQ:DELL) warned of pressure on gross margin in the second quarter and stated that it was likely to generate only slight sequential revenue growth versus earlier estimate of 1.6% growth. Although, Dell asserted stabilization in demand for IT products on a year-over-year basis, the company added that its profits were adversely affected by higher component costs, a competitive pricing environment, and an unfavorable mix of product and business-segment demand 
      
  • ·         CSX (NYSE:CSX) reported better-than-expected EPS of 72 cents from continuing operations versus 95 cents in the year ago period, despite a 21% decline in shipping volumes and lower fuel surcharge recovery 
      
  • ·         Oppenheimer upgraded Best Buy (NYSE:BBY), asserting that the shares are currently oversold 
      
  • ·         OSI Pharmaceuticals (NASDAQ:OSIP) reported successful completion of a Phase III study, demonstrating increased survival rate following initial chemotherapy treatment for patients suffering from advanced non-small cell lung cancer 
      
  • ·         Citigroup (NYSE:C) upgraded shares of Blue Nile (NASDAQ:NILE) to Buy from Hold while maintaining a $50 price target
      
  • ·         Burger King (NYSE:BKC) was downgraded by Bank of America (NYSE:BAC) to Neutral with a lowered price point of $19 compared with $22 earlier 
      
  • ·         Masco (NYSE:MAS) was downgraded by JP Morgan (NYSE:JPM) to Underweight from Overweight, with its price target reduced to $6.50 from $7.50 
      
  • ·         Owens Corning (NYSE:OC) was upgraded by JP Morgan (NYSE:JPM) to Overweight from Neutral, with a price target of $15, up from $13.50

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