Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal
By Zacks Investment Research on November 24, 2009 | More Posts By Zacks Investment Research | Author's Website
- Hewlett Packard (HPQ) reported strong results after Monday’s close, helped by robust sales in China and improved margins on its service operations. The firm also increased share repurchases to $12 billion and projected fiscal 2010 earnings of $4.25 to $4.35 a share on revenues of $118 billion to $119 billion, inline with its earnings’ preannouncement two weeks earlier
- Analog Devices (ADI) reported better-than-expected fiscal fourth quarter earnings of 36 cents a share, 10 cents above Zacks estimates, on revenues of $572 million, which beat projections of $523 million, but fell short of last year’s $660.7 million. The firm expects fiscal first quarter results of 36 cents to 37 cents a share
- Heinz (HNZ) reported fiscal second quarter earnings of 76 cents a share, beating estimates of 69 cents, on revenues of $2.67 billion, above estimates of $2.63 billion. Full-year guidance was raised to $2.72-$2.82 from earlier expectations of $2.60 to $2.70 a share
- Medtronic (MDT) reported better-than-expected third quarter results of 77 cents ex-items, 3 cents above estimates, on revenues of $3.84 billion, which topped estimates of $3.75 billion. The company expects fiscal 2010 adjusted earnings of $3.17-$3.22, above Street projections of $3.15
- Reports said Citigroup (C) is selling its Diners Club credit card enterprise to Bank of Montreal for about $1 billion
- UBS (UBS) downgraded Union Pacific (UNP) to “neutral” but maintained a $67 price target
- National Semiconductor (NSM) was added to Citigroup’s (C) Top Picks Live List, with a $20 price target
- JP Morgan (JPM) reiterated its “overweight” rating on General Electric (GE) on improvements in fundamentals
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