News Briefs: Blackrock To Become World’s Largest Money Manager, Bank Of America Raises Price Target On Palm
By Zacks Investment Research on June 12, 2009 | More Posts By Zacks Investment Research | Author's Website
BlackRock (BK) will become the world’s largest money manager by assets under management, following its planned purchase of BGI for $13.5 billion in cash and stock
Progressive (PGR) authorized purchase of up to 50 million common shares beginning July 1, 2009
National Semiconductor’s (NSM) reported a fourth-quarter loss of 28 cents per share, versus Street estimates of a 38 cent loss. Revenues plunged 39.2% year-over-year to $280.8 million, versus $273.4 million expected. However, the firm said it expects first quarter revenue of $285 million to $305 million, versus Street estimates of $282.52 million
At a medical conference Pfizer (PFE) disclosed impressive results for its experimental oral drug, which would compete with Abbott Labs’ (ABT) Humira, Johnson & Johnsons’ (JNJ) and Schering-Plough’s (SGP) Remicade, Amgen (AMGN) and Wyeth’s (WYE) Enbrel anti-rheumitoid athritis medications
Bank of America (BAC) raised its price target for Palm (PALM) to $16 from $14
Oppenheimer downgraded United Health Group (UNH) to “underperform” from “perform,” citing margin pressure from its Medicare business
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