Company News for May 1, 2009 – Corporate Summary
Source: http://www.zacks.com/stock/news/19744/Company+News+for+May+1%2C+2009+-+Corporate+SummaryPosted on Friday, May 1st, 2009 | In Market Commentary, Stocks to Watch
The third-largest US automaker, Chrysler, filed for bankruptcy protection yesterday. The firm is expected to undergo a 30-60 day restructuring, receiving $8 billion in government funds and creating an alliance with Italian automaker Fiat, which managed its owned turnaround in the past 5 years.
Today’s expected releases include: Allergan (NYSE:AGN), Chevron (NYSE:CVX), Clorox (NYSE:CLX), Dean Foods (NYSE:DF), and MasterCard (NYSE:MA).
Aon (NYSE:AOC) reported a first quarter as earnings at 76, 12 cents less than expected, along with a 2.7% revenue decline to $1.85 billion.
Dean Foods (NYSE:DF) reported first quarter results of 52 cents, 10 cents better than expected, as revenues dropped 12.2% to $2.7 billion with indications of a solid start to the second quarter.
Fortune Brands (NYSE:FO) reported first quarter results of $1.03, ahead of estimates by 8 cents notwithstanding revenues plunged 20.3% to $1.44 billion, as was expected.
Research in Motion (NASDAQ:RIMM) received an analyst upgrade from UBS (NYSE:UBS).
Goldman Sachs (NYSE:GS) issued $2 billion 5-year notes lacking government guarantees and a $750 million stock offering.
Citigroup (NYSE:C) announced sale of its Japanese brokerage and investment unit to Sumitomo Mitsui Financial for about $7.9 billion.
Chevron Corp. (NYSE:CVX) announced first quarter profit fell 64 percent as it, along with competitors, was distressed by lower oil and natural gas prices.
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