J. C. Penney Company, Inc. (NYSE:JCP): The sudden departure of J.C. Penney’s president Michael Francis led BofA/Merrill to lower its estimates for the stock and rate it ‘Underperform.’ Deutsche Bank also viewed unfavorably the circumstances of Francis’ departure, particularly its timing and the short period that he was at the helm at the company; the firm nevertheless sticks to a ‘Hold’ rating on the stock.
Zynga (NASDAQ:ZNGA): BofA/Merrill rates Zynga at ‘Neutral’ and trims its PT from$10 to $7, based on revised, lower growth projections, and caution on trends in DAU (Daily Active Users) trends and payer conversions.
Sina Corp. (NASDAQ:SINA): Sina, China’s largest internet portal and media website, may have already factored into its guidance the continued slowing of growth in online advertising, says Citigroup, based on its meeting with management and channel checks. The firm maintains a ‘Buy’ on the stock, given that the second quarter is in line with estimates; however, it would prefer Tencent (TCEHY)
Oracle Corp. (NASDAQ:ORCL): BMO Capital keeps a $30 price target and a ‘Market Perform’ rating on Oracle based on the better-than-expected fourth quarter results, which give instil confidence in the company’s strong cash flows, margins and EPS.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.