Company News for November 12, 2009 - Corporate Summary

• Wal-Mart (NYSE:WMT) reported estimate-topping results of 84 cents a share, three cents above Zacks estimates of 81 cents, on revenues of $98.67 billion, slightly below estimates of $99.50 billion. Comparable sales eased 0.4% from last year. The firm raised fourth quarter and full-year guidance to a range of $1.08-$1.12 for the quarter and $3.57-$3.61 for the year

• Kohl's (NYSE:KSS) reported results of 63 cents a share, above Zacks estimates of 61 cents, on revenues of $4.1 billion, above Zacks projections of $4 billion

• Banking analyst Richard Bove strongly advised purchase of Bank of New York Mellon (NYSE:BK) shares, saying the firm's multiple should be twice current levels due to growth prospects

• Motorola (NYSE:MOT) is considering sale of its Home and Networks Mobility division as part of its turnaround plan. Analysts value the unit at $3-$5 billion

• Hewlett-Packard (NYSE:HPQ) said it agreed to acquire 3Com (NASDAQ:COMS) for $7.90 per share, in a deal valued at about $2.7 billion in cash. The company also posted preliminary fiscal fourth quarter results and raised 2010 guidance

• United Technologies (NYSE:UTX) agreed to purchase GE's (NYSE:GE) security business for $1.82 billion

• Reports said Microsoft's (NASDAQ:MSFT) new Bing search engine has been gaining market share against competing Google (NASDAQ:GOOG) and Yahoo (NASDAQ:YHOO)

• According to a WSJ report, News Corp's (NASDAQ:NWSA) Dow Jones is close to a sale of stake in its stock indexing unit, Stoxx Ltd, for $309 million

• Applied Materials (NASDAQ:AMAT) reported better-than-anticipated fiscal fourth quarter earnings of 13 cents, 10 cents above projections, on revenues of $1.53 billion, which topped estimates of $1.32 billion. The firm anticipates 30% 2010 revenue growth; layoffs of 1300-1500 over the next year are planned

• Clearwire (NASDAQ:CLWR) posted a third quarter loss of 43 cents a share, versus Zacks estimates of a 45 cents loss as revenues increased 13.2% to $68.8 million, slightly ahead of Zacks estimates of $68 million.  The firm maintained 2009-2010 guidance, and plans new $1.564 billion in equity financing

• Ralcorp (NYSE:RAH) reported earnings of $1.14 a share ex-items, versus Zacks estimates of $1.24, on revenues of $983.2 million, up 12.6% YoY, off Zacks estimates of slightly above $1 billion

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