Company News for July 20, 2011

Zacks


•    Coca-Cola Company (NYSE:KO) reported Q2 EPS of $1.20, ahead of the Zacks Consensus Estimate of $1.16 per share. Revenues for the quarter rose 47% year-over-year to $12.7 billion, beating the Zacks Consensus Estimate of $12.364 billion

•    Bank of America (NYSE:BAC) reported adjusted Q2 EPS of $0.33, surpassing the Zacks Consensus Estimate for a loss of $0.91 per share. Revenues for the quarter came in at $13.48 billion, lower than the Zacks Consensus Estimate of $25.286 billion

•    Omnicom Group (NYSE:OMC) reported Q2 EPS of $0.96, beating the Zacks Consensus Estimate of $0.92 per share. Revenues for the quarter rose 15% year-over-year to $3.49 billion, ahead of the Zacks Consensus Estimate of $3.381 billion

•    State Street Corp. (NYSE:STT) reported Q2 EPS of $0.96, marginally lower than the Zacks Consensus Estimate of $0.97 per share. Revenues for the quarter rose 8% year-over-year to $2.5 billion, above the Zacks Consensus Estimate of $2.41 billion

•    Shares of Broadcom Corporation (NASDAQ:BRCM) rose 5.85% in the early hours of trade after Jeffries’s mentioned the stock among its top picks of the day

•    Technology giant Cisco (NASDAQ:CSCO) announced plans to drop 11,500 employees as a measure to reduce expenses by $1 billion

•    Analysts at Morgan Keegan upgraded Check Point Software (NASDAQ:CHKP) to "Outperform" rating from "Market Perform" rating with a target price of $68.00 on the stock, up from $55.00

•    Shares of Aixtron (NASDAQ:AIXG) were upgraded by Kaufman Brothers from "Hold" rating to "Buy" rating with a price target of $40.00

•    Comerica Inc. (NYSE:CMA) posted its second quarter earnings results for the fiscal 2011. Earnings figures for the regional bank rose nearly 38% for the quarter as the bank allocated lower cash levels to cover loan losses, thereby offsetting lower interest income

•    Swiss drug maker Novartis AG's (NYSE:NVS) second quarter profit increased by 12% to $2.73, due to strong sales figure of its new products and growth in emerging markets

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