(USA) Company News for June 20, 2011 – Corporate Summary

•    Research In Motion Limited (NASDAQ:RIMM) reported first quarter earnings per share of $1.33. While this is marginally higher than the Zacks Consensus EPS Estimate of $1.32 per share, revenue numbers  missed expectations of $5.4 billion by roughly half a billion dollars, coming in at $4.9 billion

•    KV Pharmaceutical Co. (NYSE:KV-A) announced plans to sell its generics subsidiary, Nesher Pharmaceuticals Inc, as well as the company’s generic business and assets to Zydus Pharmaceuticals (USA), Inc. for nearly $60 million in cash. The transaction is likely to close in Q2FY12

•    BPZ Resources, Inc. (NYSE:BPZ) initiated the process to identify and select a partner for its offshore Block Z-1 in northwest Peru

•    William Blair initiated coverage on Rockwell Automation Inc. (NYSE:ROK) with a “Market Perform” rating

•    Citigroup, Inc. (NYSE:C) downgraded Celestica Inc. (NYSE:CLS) by two notches to “Sell” from “Hold” rating

•    UBS AG (NYSE:UBS) upgraded CIENA Corp. (NASDAQ:CIEN) by two notches to “Neutral” from “Sell” rating

•    JPMorgan Chase & Co. (NYSE:JPM) upgraded InterMune Inc. (NASDAQ:ITMN) to “Overweight” from “Neutral” rating

•    Morgan Keegan initiated coverage on Abbott Laboratories (NYSE:ABT) with an “Outperform” rating

ABBOTT LABS (ABT): Free Stock Analysis Report

BPZ RESOURCES (BPZ): Free Stock Analysis Report

CITIGROUP INC (C): Free Stock Analysis Report

CIENA CORP (CIEN): Free Stock Analysis Report

CELESTICA INC (CLS): Free Stock Analysis Report

INTERMUNE INC (ITMN): Free Stock Analysis Report

JPMORGAN CHASE (JPM): Free Stock Analysis Report

RESEARCH IN MOT (RIMM): Free Stock Analysis Report

ROCKWELL AUTOMT (ROK): Free Stock Analysis Report

UBS AG (UBS): Free Stock Analysis Report

Zacks Investment Research


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