Stock Market Briefs: Red Hat, Palm, Microsoft, AutoZone

• Red Hat (RHT) reported fiscal second quarter results of 20 cents a share, compared with Zacks estimates of 11 cents a share, on revenues of $183.6 million, versus estimates of $179.0 million
• Deutsche Bank (DB) cut AutoZone (AZO) price target to $150 from $175 but maintained its “hold” rating on the stock
• Reports say modifications on the Boeing (BA) 787 Dreamliner test plane suggest the first flight is possible by late October or early November
• The corporate head of Microsoft’s (MSFT) Game Studios division ruled out plans to acquire video game publisher Electronics Arts (ERTS)
• Abbott Laboratories (ABT) has offered to buy the drug unit of Belgian’s conglomerate Solvay SA
• Deutsche Bank raised its price target for HB Fuller (FUL) to $23 from $18, while maintaining its “hold” rating
• Goldman Sachs (GS) raised its price target on Buffalo Wild Wings (BWLD) to $46
• Nintendo lowered its Wii price by 20% to $199.99 in the US after meeting increased competition from Microsoft (MSFT) and Sony (SNE)
• Palm (PALM) said an offering of 20 million shares of its common stock was priced at $16.25 apiece, a 5% discount to Tuesday’s closing price
• BlackRock (BLK) shares rose 1.4% Wednesday on a Deutsche Bank recommendation
• Cisco (CSCO) shares fell 2.6% on failure to offer current quarter guidance and comments made by CEO Chambers that “it looks like a gradual recovery,” but also warning of a risk that the economy could still retreat

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