News Briefs: Microsoft On Goldman Sachs’ Buy List, United Airlines Warns

Research in Motion (RIMM) shares dropped nearly 5% in after hours trade following its fiscal first quarter report and second quarter guidance. Ex-items the Blackberry maker earned 98 cents a share, beating estimates of 94 cents, on inline revenues of $3.42 billion, up 52.7% year-over-year.  However, the company said it expects second quarter earnings of $0.94 to $1.03, inline with estimates, with revenues of $3.45 billion to $3.7 billion, at the low end of projections.  Shares have since rebounded in early trade this morning on positive analyst comments

Caterpillar (CAT) reported in a filing that its May machine sales plunged 57% from a year earlier, as the drop in its retail machine sales accelerated

Goldman Sachs’ (GS) added Microsoft (MSFT) to its conviction buy list with an increased price target of $29, citing better sales drivers and cost management

United Airlines (UAUA) said its second quarter traffic numbers may drop as much as 10.5%, sending its shares 4% lower along with 4.4% declines in American Airlines (AMR) and 3.2% in Delta (DAL).  British Airways (BAIRY) CEO Walsh said the industry has yet to feel the worst of the recession

Oracle (ORCL) received a 30% share price target increase to $26 from Morgan Stanley (MS), noting its latest release of business development software and the closing of the Sun Microsystems (JAVA) deal

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