Buy - Price 51.25 on Oct. 15 by UBS Investment Research Following PEP's 3Q conference call, we are adjusting our 4QEPS from $0.93 to $0.95.... Our new FY08 EPS estimate is $3.67. We were encouraged by the strength of the food business globally, with strong growth still taking place in China, Russia and the Middle East. PEP did not provide '09 guidance, but we are currently forecasting '09 EPS of $3.90 vs. current consensus of $4.12. Our new price target of $66 (down from $82) is derived using 17 times our 2009E EPS of $3.90. Market cap: $16 billion.

Buy - Price: 6.60 on Oct. 15 by Jesup & Lamont [Because of hurricane damage to two rigs, the company expects] revenues to be reduced by $8.7 million and incremental costs to be increased by $12.2 million spread over 3Q and 4Q, and it expects 3Q earnings to be in the range of $0.36-$0.38 per share. We are lowering our estimates for 2008 to $1.20 per share from $1.40 per share. Our 2009 estimates decrease to $2.80 per share from $3.05.... [However,] since we believe the outlook is bright...we are estimating earnings of $1.20 per share for 2008 and $2.80 per share for '09. Our new price target, $35 per share, is based on 12.5 times '09 estimated earnings. Market cap: $797 million.

Outperform - Price: 22.40 on Oct. 14 by R.W. Baird & Co. Initial fiscal 2009 guidance is well below expectations, reflecting rapidly deteriorating European automotive market. [However,] the company remains well positioned to capitalize on growing end markets globally and will deliver 10-15% earnings growth....We believe the shares are appropriate for long-term investors. Fiscal 2009 EPS [guidance] now seen at $1.95- $2.10 versus $2.33 the prior year and well below consensus of $2.46. We have lowered our estimate to $1.85 from $2.40. The shortfall versus guidance reflects a weaker Euro and light vehicle production assumptions on our part. Our $33 price target is based on the stock trading at 9.1 times our estimate of calendar 2009 Ebitda, the 25th percentile valuation across the S&P Industrials sector. Market cap: $13.462 billion.

Outperform - Price: 79.12 on Oct. 15 by Rodman & Renshaw DNA reported 3Q08 EPS below our and consensus estimates due to one-time charges and employee-retention programs. Genentech reported 3Q08 non-GAAP diluted EPS of $0.81, compared to our and consensus estimates of $0.86 and $0.90, respectively. Total revenues of $3.412 billion were marginally above our estimate of $3.355 billion and the Street's $3.365 billion. The company ended the quarter with $1.1 billion of free cash flow and over $8.6 billion of total cash. DNA tightened FY08 non-GAAP fully diluted EPS guidance to $3.40-$3.45 from $3.40-$3.50. Investors still in the dark as to [suitor] Roche's next move....following the independent board's rejection of initial $89 per-share bid.... We anticipate an improved bid; however, until [it materializes], attention may drift from the fundamentals. We reiterate Market Outperform, $90 price target. Market cap: $83.5 billion.

Buy - Price: 10.70 on Oct. 14 by Sandler O'Neill We are maintaining our Buy rating following XL's pre-announcement of third-quarter earnings. We are revising our 2008 operating EPS estimate to a loss of $2.15 from a loss of $3.01 to account for the third-quarter earnings and to reflect [an error in our previous estimate]. Our 2009 EPS estimate is unchanged at $2.77. The most important development from XL's pre-announcement is that there does not appear to be any immediate need for XL to raise capital.... We were slightly disappointed with XL's earnings: it reported a $1.65 to $1.67 billion loss. Our estimate was $1.57 billion. This net income loss equates to $6.08 to $6.17 per share. We estimate operating EPS (which excludes net realized investment losses) at a loss of $4.83. We were looking for a loss of $4.67 per share.... Target share price: $18. Market cap: $1.58 billion.

Buy - Price: 34.10 on Oct. 14 by Wedbush Morgan We reiterate our Buy recommendation as we believe that Dollar Tree's business momentum should continue through the holiday season and that its results should look good relative to other more discretionary retailers'. We remain confident that the company will continue to execute its top-line driving strategies.... Our $43 price target assumes DLTR should trade at 16.5 times our 2009 EPS estimate of $2.60, or at a 10% premium to our projected longer-term earnings growth rate of 15% despite the challenging macro environment. Market cap: $3.1 billion.