• Share prices of America’s biggest bank, Bank of America Corp. (NYSE:BAC) fell 20.32% after a report in the New York Times said that American International Group, Inc. (NYSE:AIG) has filed a suit against the bank to recover more than $10 billion in losses due to mortgage-backed securities

• Car rental company Dollar Thrifty Automotive Group, Inc.’s (NYSE:DTG) shares declined by 12.75% to close at $58.79 after the company posted second quarter earnings results that came in below expectations

• Share prices of DG FastChannel Inc. (NASDAQ:DGIT) fell 24.95% after the company, which is primarily engaged in advertising and distribution, reported a fall in quarterly revenue results that came in below estimates

• Telecom-software maker BroadSoft Inc.’s (NASDAQ:BSFT) share prices rose 9.70% after the company’s forecasted earnings for fiscal 2011 beating the Street’s consensus estimate

• According to a report in The Wall Street Journal, Valeant Pharmaceuticals International Inc. (NYSE:VRX) has approached Medicis Pharmaceutical Corp. (NYSE:MRX) for a possible purchase of the latter

• National Indemnity Company, a subsidiary of Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) said it has offered to acquire reinsurer Transatlantic Holdings Inc. (NYSE:TRH) in a deal worth $52 per share. Following this development, shares of the reinsurer gained 6.79% to close at $48.31

• Shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) were downgraded by RBC Capital from “Outperform” rating to “Sector perform” rating with a revised target price of $32.00, down from $36.00

• Analysts at Robert W. Baird downgraded J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) to “Neutral” rating from “Outperform” rating setting a target price of $51.00 on the stock

• Analysts at Goldman Sachs (NYSE:GS) upgraded shares of aviation giant Boeing (NYSE:BA) to “Buy” rating from “Neutral” rating with a target price of $90.00. Goldman Sachs also added Boeing to its Conviction Buy list.

DG FASTCHANNEL (DGIT): Free Stock Analysis Report

About Zacks Investment Research 1767 Articles

Zacks Investment Research is one of the most highly regarded firms in the investment industry. In 1978 Zacks originated the concept of utilizing earnings estimates revisions to make profitable investment decisions. Zacks offers multiple investment products and services to help investors achieve superior returns.


Be the first to comment

Leave a Reply

Your email address will not be published.