Company News for January 04, 2012 - Corporate Summary

By Zacks Equity Research,

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•    Share prices of natural gas producer Devon Energy Corp (NYSE: DVN ) gained 6.63% after the company announced it would sell a stake in five of its exploratory projects across the U.S., to Sinopec International Petroleum Exploration & Production, a unit of China Petroleum & Chemical (NYSE: SNP ) for $2.2 billion

•    Pediatric nutrition company Mead Johnson Nutrition Co.'s (NYSE: MJN ) shares advanced 3.81% to close at $71.35 after U.S. health officials confirmed they hadn't found deadly bacteria in cans of the company's Enfamil baby formula

•    Shares of technology-licensing company Rambus Inc. (NASDAQ: RMBS ) increased 7.42% to close at $8.11 after the company raised its forecast for the fourth quarter

•    Steel producer U.S. Steel Corp.'s (NYSE: X ) shares rose 6.46% after a better U.S. manufacturing activity report, striking a six-month high during the month of December 2011

•    Israeli drug developer Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA ) has hired Bristol-Myers Squibb (NYSE: BMY ) executive Mr. Jeremy Levin as its new Chief Executive Officer

•    Share prices of mortgage insurer MGIC Investment Corp.'s (NYSE: MTG ) dropped 3.75% to close at $3.59 after the company issued a statement saying that in order to finance new business it had invested $200 million into an underwriting subsidiary

BRISTOL-MYERS ( BMY ): Free Stock Analysis Report
DEVON ENERGY ( DVN ): Free Stock Analysis Report
MGIC INVSTMT CP ( MTG ): Free Stock Analysis Report
RAMBUS INC ( RMBS ): Free Stock Analysis Report
CHINA PETRO&CHM ( SNP ): Free Stock Analysis Report
TEVA PHARM ADR (TEVA): Free Stock Analysis Report
UTD STATES STL (X): Free Stock Analysis Report
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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Investing Ideas , Stocks
Referenced Stocks: BMY , DVN , MTG , RMBS , SNP

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