Tuesday’s Stock Highlights: Apple, Goldman Sachs, ConocoPhillips, Motorola

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Tuesday’s Stock Highlights: Apple, Goldman Sachs, ConocoPhillips, Motorola

By Zacks Investment Research on June 23, 2009 | More Posts By Zacks Investment Research | Author's Website

* Steve Jobs returned to official capacity as Apple (AAPL) CEO following a medical leave. According to the Wall Street Journal, Jobs underwent a liver transplant during his absence. Apple also beat analyst estimates with sales of its iPhone 3Gs topping 1 million over the past weekend

* JP Morgan (JPM) warned a weak market for Boeing’s (BA) narrow-body jets may result in further production cuts

* Deutsche Bank (DB) lowered its rating on CarMax (KMX) to “hold” from “buy,” citing its recent price outperformance

* Microsoft (MSFT) will release a test version of its free security software today, called Microsoft Security Essentials

* Bank of America (BAC) upgraded Motorola (MOT) to “buy” from “neutral” with an increased price target of $9, citing news on fresh product launches

* Goldman Sachs (GS) received a price target increase to $160 from FBR Capital. The firm raised its second quarter estimate to $2.90 from $2.04, 2009 estimate to $11.39 from $9.85, and 2010 estimate to $13.10 from $11.30

* JP Morgan (JPM) raised its rating on Federal Express (FDX) to “overweight” from “neutral”

* UBS (UBS) upgraded ConAgra (CAG) to “buy”

* ConocoPhillips (COP) was upgraded by Bernstein analysts to “outperform,” citing increasing levels of exploration, which will curtail the need for acquisitions

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