Piper Jaffray raises its target price for Google (GOOG) shares to $300 from $275.
American International Group (AIG) files its 2004 annual report on Form 10-K with the SEC. The company completes an internal review, including a restatement of 2000 to 2003 financial statements. It posted $9.73 billion 2004 net income, down from $11.05 billion announced in its Feb. 9 earnings release.
Executives at AmeriTrade Holdings (AMTD) and TD Waterhouse, two discount brokerages, moved within striking distance of clinching a merger agreement over the long holiday weekend in the U.S., according to the Financial Times.
Citigroup reportedly upgrades Exxon Mobil (XOM) and ChevronTexaco (CVX) to buy.
Merrill reportedly upgrades Northwest Airlines (NWAC) to buy from neutral.
Earlier this year, DreamWorks Animation (DWA) got a shock as retailers started returning millions of unsold copies of Shrek 2, a miscalculation by the company that highlights how the fast-changing DVD market has become difficult to navigate, according to the Wall Street Journal.
Advanced Micro Devices (AMD) is completing the world's only broad dual-core client and server processor line-up, and announces its immediate availability of AMD Athlon(TM) 64 X2 dual-core processor.
Medco Health Solutions (MHS) is refusing to comply with a federal subpoena by Health & Human Services until the agency promises it won't share documents with a Justice Dept. office that has sued Medco on another matter, according to the Wall Street Journal.
Genentech (DNA) announces that the single-masked Phase I/II clinical study of Lucentis met the primary efficacy endpoint of maintaining vision in patients with wet aged-related macular degeneration when used with verteporfin photodynamic therapy.
Calpine (CPN) agrees to sell its 1,200-megawatt Saltend Energy Centre for about $906 million, plus adjustments for working capital expected to be about $19 million, generating total expected proceeds of about $925 million.
Tibco Software (TIBX) sees lower-than-expected 2 cents to 3 cents second-quarter earnings per share (GAAP) on $100 million to $102 million revenue and $40 million to $42 million in license revenue. The company cited a slippage in closing several large deals around the world.
MBNA Corp. (KRB) was talked about across the trading community as an acquisition target of a big bank, possibly Wachovia (WB), according to Barron's.
Renovis (RNVS) seals a global collaboration and a licensing agreement with Pfizer (PFE) to research, develop, and commercialize small molecules that target vanilloid receptor, VR1. The deal is to focus on pain treatment, urinary incontinence, and other disorders.
Panera Bread (PNRA) posted 10% higher system-wide same-store sales in four weeks ending May 17.
One of Maytag's (MYG) largest shareholders, Brandes Investment, reportedly says it opposes as inadequate the $14 per share buyout bid for Maytag.
FDA grants Teva Pharmaceutical Industries (TEVA) tentative approval for an abbreviated new drug application (ANDA) for Zolpidem Tartrate Tablets, 5 mg and 10 mg, to treat insomnia. Final approval is expected upon expiration of patent protection in Oct. 2006 for Lorex/Sanofi-Synthelabo's Ambien.