MOST NOTEWORTHY: Salesforce.com, Inc (CRM), Black & Decker Corp (BDK), GenVec, Inc (GNVC) and RightNow Technologies (RNOW) were today's noteworthy initiations:
- With customers wanting an alternative to Microsoft (MSFT), Salesforce.com (NYSE: CRM) is making an attempt to be that alternative. It is rumored that management is in talks with Google (GOOG) about the two companies working together, a move that could include offering Google Apps via the AppExchange and integrating more closely those apps with Salesforce.com. Baird initiated shares of Salesforce.com with a Neutral rating and $49 target.
- Banc of America sees major headwinds from declining construction and slower consumer spending on housing and started shares of Black & Decker Corp (NYSE: BDK) with a Sell rating and $85 target.
- Merriman sees upside from strong mid- and late-stage clinical programs, key collaborations and potential for revenue generation, starting shares of GenVec (NASDAQ: GNVC) with a Buy rating.
- Baird finds Rightnow Technology (NASDAQ: RNOW) to be well-positioned within the customer service segment of the CRM market with above average L-T prospects and views the recent uncertainty as a buying opportunity. Baird started shares of RightNow with an Outperform rating and $19 target...
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
Closing Bell: Can't go up every day (BAC, HE, HPW, COMS, BRCD, WMT, AMD)
Wal-Mart grows profit and cash flow in Q3, but comps still ailing
Chasing Value: Ten stocks for 2010 -- Part 2
