Company News for October 12, 2009 – Corporate Summary
Source: http://www.zacks.com/stock/news/25778/Company+News+for+October+12%2C+2009+-+Corporate+SummaryPosted on Monday, October 12th, 2009 | In Investing Lessons, Stocks to Watch
• Blackstone (NYSE:BX) announced plans to list up to eight Blackstone-owned firms and sell at least five additional companies
• Barclays (NYSE:BCS) reported plans to spin off a $6.35 billion portfolio of complex credit assets as it seeks to clean up its balance sheet
• Phillips Electronics (NYSE:PHG) reported better-than-expected third quarter earnings, helped by cost-cutting measures, although the company said most markets are yet to see recovery
• Deutsche Bank (NYSE:DB) lifted Johnson & Johnson’s (NYSE:JNJ) price target to $67 from $63 and maintained its “buy” rating on the stock, as the analyst noted “Ahead of Tuesdays earnings call we are raising our price target to $67 (prior $63) based on improving comparable multiples, new product approvals, stabilization in the global economy, and FX tailwinds all [of] which should add to earnings in 4Q and next year. We expect management will focus on continued healthy trends in its Medical Device & Diagnostic division, which will be the highlight of Tuesday’s earnings meeting”
• Goldman Sachs’ (NYSE:GS) removed Johnson Controls (NYSE:JCI) from its Conviction Sell list in anticipation of optimism after its October 13 analyst day. Goldman raised its price target on the firm to $20 from $18
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