Company News for June 24, 2009 – Corporate Summary
Source: http://www.zacks.com/stock/news/21401/Company+News+for+June+24%2C+2009+-+Corporate+SummaryPosted on Wednesday, June 24th, 2009 | In Market Commentary, Stocks to Watch
* Oracle (NASDAQ:ORCL) reported fourth-quarter earnings of 46 cents a share, versus estimates of 44 cents, as revenues fell 5.2% to $6.86 billion, up from Street estimates of $6.47 billion
* PetSmart (NASDAQ:PETM) raised its quarterly dividend to 10 cents from 3 cents; the company also announced plans for a $350 million stock purchase plan
* Bank of America (NYSE:BAC) announced efforts to raise over $2.5 billion in fresh capital through the swap of preferred for common shares, which priced at $12.7048
* Chevron (NYSE:CVX) announced production has begun at Brazil’s Frade Field, a $3 billion project, which is projected to result in production levels of 90,000 barrels daily by 2011
* BMC Software (NYSE:BMC) reaffirmed its 2010 earnings guidance ex-items of $2.37-$2.47 a share, with operating cash flow expected at $600-$650 million, noting the firm has been gaining market share in IT management software space
* Rite Aid (NYSE:RAD) reported first quarter loss of 11 cents, topping estimates by 2 cents, as revenues dropped 1.2% to $5.5 billion, inline with Street projections
* China Petroleum & Chemical (NYSE:SNP) announced agreement to purchase Addax Petroleum for $7.3 billion cash
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