Company News for July 5, 2011

Zacks



•    Eastman Kodak Co. (NYSE:EK) received a mixed ruling from the U.S. International Trade Commission on its patent infringement suit against Research In Motion Limited (NASDAQ:RIMM) and Apple Inc. (NASDAQ:AAPL)

•    Darden Restaurants, Inc. (NYSE:DRI) reported fourth quarter 2011 earnings of $1.00 per share, in line with the Zacks Consensus Estimate, but up 23% from the year-ago quarter's earnings of 81 cents per share

•    Major auto makers General Motors Company (NYSE:GM) and Ford Motor Co. (NYSE:F) both reported robust June sales figures that jumped 10% over the month. Shares of the companies gained 0.7% and 1.7%, respectively

•    Reports suggested that Dendreon Corp.’s (NASDAQ:DNDN) prostate cancer medicine Provenge was recommended to be covered under Medicare

•    Merck & Co. Inc. (NYSE:MRK) won approval to sell its cervical cancer vaccine, Gardasil and two other products in Japan

•    In a multi-day auction, a consortium of six technology companies including Apple Inc won the bid to acquire Nortel Network Corp.’s intellectual assets for an estimated $4.5 billion. Besides Apple, the consortium comprises EMC Corporation (NYSE:EMC), LM Ericsson Telephone Co. (NASDAQ:ERIC), Microsoft Corporation (NASDAQ:MSFT), Research In Motion Limited and Sony Corporation (NYSE:SNE)

•    Capstone initiated coverage on Polypore International Inc. (NYSE:PPO) with a “Buy rating

•    The Goldman Sachs Group, Inc. (NYSE:GS) downgraded Central European Media Enterprises Ltd. (NASDAQ:CETV) by two notches to a “Sell rating from a “Neutral rating



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