Intel Corporation (NASDAQ:INTC): Current price $22.34
Chip analyst Doug Freedman at RBC Capital reiterates his Sector Perform on Intel shares along with a $24 price target, as he studies the short list of candidates to replace Chief Executive Paul Otellini when he steps down in May, which is comprised mainly of names culled from media speculation. Freedman says, “Currently, the lack of CEO succession is a huge issue for our investment thesis,” calling it the firm’s “most important decision Intel has made since 300mm. We need to have a firm grasp on the direction the new CEO is targeting before we are able to offer conviction for large scale investment.”
Bank of America Corporation (NYSE:BAC): Current price $12.30
Reuters reports that Bank of America Merrill Lynch has named former Goldman Sachs partner Luigi Rizzo as its chief of mergers and acquisitions for Europe, the Middle East, and Africa. Rizzo will join BofA in August, and will be based in London, reporting to Adrian Mee, the head of international M&A. Philip Noblet, who has been co-head of the EMEA M&A team since 2010, will become chairman of that division. Rizzo joined Goldman Sachs in 1993 and became a partner in 2008.
Microsoft Corporation (NASDAQ:MSFT): Current price $30.18
Analysts are making their forecasts on Microsoft’s fiscal third quarter report, due out next Thursday, according to Barron’s. The Street estimates $20.71 billion in revenue and 75 cents per share in net profit. On Wednesday, Colin Gillis at BGC cut his rating from Buy to Hold, but keeps his $31 price target, writing that “we are increasingly concerned about turmoil in the PC industry, with Dell attempting to go private, and reports that HP may be broken up.” Currently, Gillis is modeling $20.45 billion in revenue and 69 cents earnings for the third quarter.
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