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Before the bell: XOM, WFMI, AAPL, YHOO, GM ...

Posted Nov 20th 2007 8:30AM by Melly AlazrakiMelly Alazraki RSS Feed
Filed under: Before the bell, Earnings reports, Analyst upgrades and downgrades, Google (GOOG), Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Hewlett-Packard (HPQ), Pfizer (PFE), Starbucks (SBUX), General Motors (GM), Exxon Mobil (XOM), Toyota Motor Corp. (TM), Target Corp. (TGT), Whole Foods Market (WFMI), Limited Brands (LTD)

Before the bell: Upbeat mood on H-P results, rate cut hopes

Notable calls:
  • Exxon Mobil (NYSE: XOM) was upgraded by UBS from Neutral to Buy and the target upped from $92 to $96.
  • Starbucks (NASDAQ: SBUX), interestingly, was both upgraded and downgraded today. Friedman Billings upgraded the coffee chain from Market Perform to Outperform and uppded the target price from $22 to $27. CIBC World Markets downgraded the stock from Sector Outperform to Sector Perform and lowered the target price from $27 to $23.
  • Credit Suisse, which rates Google (NASDAQ: GOOG) shares at Outperform, raised the stock's target price from $800 to $900. GOOG stock up 1.6% in premarket trading.
  • Friedman Billings, rating Hewlett-Packard (NYSE: HPQ) at Outperform, raised the target price from $54 to $60.
Reporting today also are:
  • Whole Foods Market Inc. (NASDAQ: WFMI) - forecast to post fourth-quarter earnings of 30 cents a share.
  • Target Corp. (NYSE: TGT) - forecast to post third-quarter earnings of 62 cents a share.
  • Limited Brands Inc. (NYSE: LTD) - forecast to post third-quarter earnings of 1 cent a share.



The German unit of Vodafone Group PLC (NYSE: VOD) has obtained a restraining order against Deutsche Telekom AG's (NYSE: DT) T-Mobile unit prohibiting it from selling Apple Inc.'s (NASDAQ: AAPL) iPhone in Germany due to questionable sales practices. This doesn't seem to affect Apple as its stocks is gaining 2.5% in premarket trading. VOD shares, too, are up 2% in premarket trading.

 An employee at a California plant run jointly by General Motors Corp. (NYSE: GM) and Toyota Motor Corp. (NYSE TM) "is accusing her managers of allowing serious defects to go unchecked, including faulty seat belts and braking, and retaliating when she resisted, according to a lawsuit filed earlier this month."

Microsoft Corp. (NASDAQ: MSFT) named former Callidus Software Inc. Chief Executive Robert Youngjohns as president of North America sales and marketing, effective Dec. 3.

Gene Logic Inc., a provider of drug development services received a payment from Pfizer Inc. (NYSE: PFE) for its work on a patent application for a drug to treat solid tumors.

Following an agreement with Google's YouTube, Sony BMG Music Entertainment agreed on a licensing deal with Yahoo! Inc. (NASDAQ: YHOO) that clears the way for people to upload files with music or video content by the record company's artists to Yahoo in exchange for a cut from advertising revenue. Financial terms of the deal were not disclosed.

Tags: aapl, dt, gm, goog, hpq, inthenews, ltd, msft, pfe, tgt, tm, vod, wfmi, xom'sbux, yhoo

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Last updated: November 11, 2009: 08:54 AM

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