Company News for August 11, 2011

Zacks


•    According to a report in The New York Times, Capital One (NYSE:COF) has decided to acquire the U.S. credit card business segment of HSBC holdings (NYSE:HSBC)  in a deal estimated to be over $2 billion

•    MakeMyTrip Limited (NASDAQ:MMYT) posted Q1 EPS of $0.04, surpassing analysts’ consensus estimate of $0.03 per share. Revenues for the quarter rose 51.8% year-over-year to $21.1 million

•    ZaZa Energy and Toreador Resources Corporation (NASDAQ:TRGL) said they have signed a definitive agreement to merge the two companies

•    Share prices of The Bank of New York Mellon Corp. (NYSE:BK) declined 7.82% after the banking company announced it would axe 1,500 jobs to cut costs

•    Shares of pharma company ADVENTRX Pharmaceuticals Inc (AMEX:ANX) fell 58.27% to close at $1.06 after the company on Tuesday said U.S. regulators had rejected the company's lung cancer drug

•    Clothing retailer Polo Ralph Lauren Corporation’s (NYSE:RL) shares gained 4.53% after the company's first quarter earnings results topped estimates

•    Cree, Inc.'s (NASDAQ:CREE) share prices advanced 15.56% the company late Tuesday reported its fourth quarter earnings that came in above analysts expectations

•    Analysts at Wunderlich downgraded shares of Walt Disney Co. (NYSE:DIS) from "Buy" rating  to "Hold" with a target price of $39

•    Shares of Cisco Systems, Inc. (NASDAQ:CSCO) were upgraded by analysts at Gleacher  to "Buy" rating from "Neutral" rating with a target price of $20

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