Company News: GOOG, MMI, TWX, GWW, BAC, ZAGG, AAPL, EL, IPG, SYK, TCB

• Google (NASDAQ:GOOG) announced that it will purchase cell phone manufacturer Motorola Mobility Holdings Inc (NYSE:MMI) in a deal worth $12.5 billion or $40 per share. Following this development, shares of Motorola spiked up 55.78% to close at $38.12

• On Sunday, Time Warner Inc (NYSE:TWX) made public its plans to buy cable operator The Carlyle Group’s Insight Communication for around $3 million. If the deal goes ahead then it will mark one of the biggest acquisitions by Time Warner in recent times

• W.W.Grainger (NYSE:GWW) said it intends to purchase shares of Fabory Group worth $344 million. Fabory Group are the leading distributors of fasteners and other MRO related products in Europe

• America’s largest bank The Bank of America Corp. (NYSE:BAC) announced its decision to sell its credit card business arm in Canada to TD Bank Group. Shares of the banking giant gained 7.93% after this development

• Share prices of Zagg Inc. (NASDAQ:ZAGG) increased 6.38% to close at $15.67 after the company which makes cell phones and accessories for Apple (NASDAQ:AAPL) increased its forecast for the fiscal 2011

• Beauty product maker Estee Lauder Co’s. (NYSE:EL) share prices dropped 6.52% after the company said its earnings figures for 2012 would come in below the Street’s expectations

• Share prices of Interpublic Group of Companies, Inc. (NYSE:IPG) gained 3.01% to close at $8.90 after the company announced it plans to sell about half of its holdings in Facebook for about $133 million

• Analysts at Rodman & Renshaw upgraded shares of Stryker (NYSE:SYK) to an “Outperform” rating from a “Market Perform” rating with a target price of $56.00

• Analysts at FBR Capital upgraded shares of TCF Financial Co. (NYSE:TCB) to a “Market Perform” rating from an “Underperform” rating, lowering the target price to $11.00 from $12.00.

STRYKER CORP (SYK): 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.

Visit: Zacks.com

Be the first to comment

Leave a Reply

Your email address will not be published.


*