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Company News for May 8, 2009 – Corporate Summary

Source: http://www.zacks.com/stock/news/19982/Company+News+for+May+8%2C+2009+-+Corporate+Summary
 Posted on Friday, May 8th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -

* Toyota (NYSE:TM) reported its first-ever annual loss, nearly twice estimates, citing strengthening in the yen and a global demand collapse. The company cut its dividend for the first time

* Public Storage (NYSE:PSA) reported first quarter earnings of $1.16 per share, missing estimates by 4 cents a share, as revenues fell 0.8% year-over-year to $347 million

* Assured Guaranty (NYSE:AGO) reported first quarter earnings of 69 cents a share, 52 cents ahead of estimates, on revenues of $148 million

* General Electric’s (NYSE:GE) CEO Immelt noted the company’s finance unit is doing better than expected. Barclays (NYSE:BCS) raised GE’s (NYSE:GE) price target from $10 to $15 and upped the rating to “overweight”

* According to PharmaTimes, GlaxoSmithKline (NYSE:GSK) released data showing its new cervical cancer vaccine, Cervaris, showed “significantly” improved responses over Merck’s (NYSE:MRK) Gardasil

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