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Stock Market News: Kraft Formalizing Cadbury Bid For $16.7 Billion; Goldman Sachs Upgrades Adobe System To ‘Buy’

By Zacks Investment Research on November 9, 2009 | More Posts By Zacks Investment Research | Author's Website

  • Kraft (KFT) is due to formalize its Cadbury (CBY) bid for about $16.7 billion as the deadline for an offer hits
  • Northrop Grumman (NOC) announced it is selling its TASC consulting operations to two private equity firms for $1.65 billion
  • About $30 billion was the agreed-to valuation which General Electric (GE) and Comcast (CMCSA) placed on the joint venture between NBC Universal and Comcast
  • Goldman Sachs (GS) upgraded Adobe Systems (ADBE) to “buy,” and lifted its price target to $42
  • Goldman Sachs added Lexmark (LXK) to its Conviction Sell list
  • KBW upgraded Blackstone Group (BX) shares to “outperform” with a price target of $18.50
  • Windstream (WIN) reported third-quarter earnings of 24 cents a share, two cents over Zacks estimates, on revenues of $734 million, below Zacks estimates of $747 million
  • DISH Network (DISH) reported third-quarter earnings of 18 cents, 25 cents under Zacks estimates, on revenues of $2.89 billion, which missed Zacks estimates of $2.93 billion

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