Stock Market Briefs: JP Morgan Beats Expecations, Cisco Rated As Outperform

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Stock Market Briefs: JP Morgan Beats Expecations, Cisco Rated As Outperform

By Zacks Investment Research on October 14, 2009 | More Posts By Zacks Investment Research | Author's Website

Wells Fargo (WFC) initiated coverage of Cisco (CSCO) with an “outperform” rating, believing it attractive for a play on an IT spending recovery
JP Morgan (JPM) reported better-than-expected third quarter earnings of 82 cents a share, up from 9 cents a year ago, and ahead of Zacks estimates of 49 cents a share on strong underwriting revenues
Altera (ALTR) reported inline quarterly earnings of 19 cents a share, down from 31 cents a share a year ago on revenues of $268 million, which missed estimates of $282 million
Piper Jaffray (PJC) raised its price target on Intel (INTC) to $26 from $21
Host Hotels (HST) reported third quarter earnings of 11 cents a share, ahead of Zacks estimates of 8 cents a share, on revenues of $912 million

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