General Electric Company (NYSE:GE) has announced plans to go after acquisitions of two subterranean mining equipment makers in support of the worldwide growth of its mining operations. GE has an agreement to take on 100 percent of Australia’s Industrea Ltd., as well as a binding Letter of Intent to take over Fairchild International out of Virginia. These two will grow GE’s product offering to address around 35% of the underground mining value chain.
Investing Insights: GE Gives Moody’s The Finger>>
J.C. Penney Company, Inc. (NYSE:JCP): Piper Jaffray is still confident that J.C. Penney can turn around after Q1 results that were less encouraging than hoped. Referencing coming cost reduction and a promising batch of new brands, Piper maintains an Overweight rating on the stock (with a $50 price target).
Micron Technology, Inc. (NASDAQ:MU): Digitimes reports that Apple (NASDAQ:AAPL) has placed significant orders for mobile DRAM memory with Elpida’s Japan plant for a new iPad and iPhone series. Micron is a potential buyer for Elpida, following the latter’s bankruptcy filing earlier this year.
Overstock.com (NASDAQ:OSTK) claims that Goldman Sachs (NYSE:GS) and Bank of America/Merrill Lynch (NYSE:BAC) doctored its stock between 2005-2007 when they assisted market-maker clients in naked short sales, Bloomberg reports.
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