Company News for May 12, 2011 - Corporate Summary

•    Shares of Ener1, Inc. HEV plunged by 27.35%, after the company reported a large first-quarter net loss this week. Ener1 Inc. was also downgraded by Wunderlich Securities from "Hold" to "Sell" and its price target was reduced from $3.50 to $1.00

•    Global and federal government insurer American International Group, Inc AIG revealed in a regulatory filing that they would sell 300 million shares to the public

•    Strong earnings results that grew more than three times in the first quarter helped share prices of the pipeline maker Northwest Pipe Co NWPX surge 6.40% to close at $24.45

•    Internet portal Yahoo! Inc YHOO reported that Alibaba Group has transferred ownership of its online payments business to an entity controlled by the CEO of Alibaba. Reacting to the news, shares of Yahoo fell 7.28% since the digital media company has a 43% stake in Alibaba

•    Conceptus, Inc.'s CPTS share prices dropped 15.77% a day to close at $12.71 after the maker of a sterilization method reported a larger first-quarter loss beating the Street's projections

•    Oil and natural-gas company Harvest Natural Resources, Inc.'s HNR share prices fell 6.99% after the company reported its first-quarter earnings results that fell short of expectations

•    Shares of Scientific Games Corp. SGMS fell 2.56% after the maker of lottery tickets reported its first-quarter results that came in below consensus forecasts

•    Analysts at Goldman Sachs GS initiated coverage on GNC Corp. with a “Neutral” rating and a target price of $22.00 citing the move as a valuation call

•    Johnson & Johnson JNJ was upgraded by Goldman Sachs GS to a "Buy" rating from "Neutral" rating. The brokerage firm also raised the target price of the company from $64 to $77

•    Bristol-Myers Squibb BMY was downgraded by Goldman Sachs GS from "Buy" to "Neutral" with a target price of $32 on the stock

 
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ENER1 INC (HEV): Free Stock Analysis Report
 
HARVEST NATURAL (HNR): Free Stock Analysis Report
 
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