• Priceline.com (NASDAQ:PCLN) reported adjusted third quarter earnings of $3.45 a share, 55 cents above consensus estimates, on better-than-expected revenues of $730.7 million, ahead of estimates of $$693.97 million on strong summer season travel. The firm provided fourth quarter guidance at about $1.06-$1.16

• Electronic Arts (NASDAQ:ERTS) said it plans to cut 1500 additional jobs. The firm reported second quarter adjusted earnings of 6 cents, a one penny miss, on revenues of $1.15 billion, which slightly topped Street projections of $1.12 billion. The firm forecast 2010 earnings of $0.70-$1.00, topping estimates of 89 cents on revenues of $4.2-$4.4 billion versus estimates of $4.26 billion

• Cadbury (NYSE:CBY) rejected the latest Kraft (NYSE:KFT) bid calling it “derisory”

• Moody’s (NYSE:MCO) commented that AIG (NYSE:AIG) will be able to repay its Federal loans

• Wells Fargo (NYSE:WFC) lifted its growth expectations for the semiconductor group following release of third quarter numbers. Intel (NASDAQ:INTC) remained its first pick within the group, with “outperform” ratings also on Micron Tech (NYSE:MU) and Xilinx (NASDAQ:XLNX). Analysts increased 2010 growth expectations of 25% for the industry from 10-20% prior

• Goldman Sachs (NYSE:GS) added Polo Ralph Lauren (NYSE:RL) to its Conviction Buy List, with a price target of $94

• Goldman Sachs (NYSE:GS) also added Kroger (NYSE:KR) to its Conviction Buy List, with a price target of $27

• Goldman Sachs (NYSE:GS) removed Coca-Cola Enterprises (NYSE:CCE) from its Conviction Buy List, but maintained a “buy” rating on the shares

• Tyco International (NYSE:TYC) released better-than-expected third quarter earnings of 61 cents a share, 7 cents above estimates, on revenues of $4.42 billion, slightly higher than estimates of $4.32 billion

• Burlington Northern (NYSE:BNI) CEO advised Berkshire Hathaway (NYSE:BRK.A) is liquidating shares of rival railroads Norfolk Southern Corp. (NYSE:NSC) and Union Pacific (NYSE:UNP) as it readies its purchase of Burlington

• Google (NASDAQ:GOOG) moved further into the market for digital advertising on cell phones with the acquisition of AdMob for $750 million

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Last 5 posts by Zacks Market Commentaries

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