Company News: Microsoft’s Bing Gains Market Share, Yum! Brands Upgraded To Buy

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Company News: Microsoft’s Bing Gains Market Share, Yum! Brands Upgraded To Buy

By Zacks Investment Research on July 1, 2009 | More Posts By Zacks Investment Research | Author's Website

* General Mills (GIS) reported fiscal fourth quarter earnings of 86 cents per share, ex-items, besting estimates by 5 cents, versus 53 cents a share a year earlier, as net sales improved 5% y/y to $3.6 billion on strong sales of its cereal and dough products. The company said it expects full-year earnings of $4.20 to $4.25 a share

* Microsoft’s (MSFT) new Bing browser gained market share from Google (GOOG), during its first month of operation, surpassing Yahoo (YHOO) as the number two search engine

* Pfizer (PFE) said it is terminating its late-stage drug trial of Sutent, for first-time treatment of metastatic colorectal cancer

* AMAG Pharmaceuticals (AMAG) announced FDA approval of its iron deficiency drug

* Goldman Sachs (GS) upgraded shares of Yum! Brands (YUM) to “buy”

* Constellation Brands (STZ) reported fiscal first quarter earnings of 33 cents a share, one penny above estimates, versus 43 cents a share a year ago. The company reiterated its full year guidance

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