What Moved Cisco and These 4 Heavily Traded Stocks?
Cisco Systems (NASDAQ:CSCO) will probably gain additional market share, according to Oppenheimer, continuing its trend from last quarter. The firm holds to a $22 target and its rating on the stock of Outperform.
Citigroup Inc. (NYSE:C) intends to hire an additional 300 brokers and bankers in the coming two years to meet a goal of around 800 by 2014 for its U.S. wealth management business, Reuters reports. In service of doing so, longstanding Merrill Lynch executive John Cummings is joining the company as COO of Citigold Wealth Management.
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Analyst Guy Moszkowski at Bank of America is slashing his profit anticipations for Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and Citigroup due to weaker than hoped trading and investment banking results to date, as well as “macro fears.” At the same time, the trading debacle at JPM’s CIO has “extinguished investor complacency regarding new regulation.”
Pfizer (NYSE:PFE): According to the Nikkei, Pfizer is now selling Xalkori, a lung cancer medication, in Japan, where the drug has been recognized as an orphan drug. Pfizer Japan predicts around Y11.2B in annual sales in 10 years thanks to Xalkori.
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