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TWM Today: Wall Street

|Includes: GOOG, GS, Johnson & Johnson (JNJ), KO, TGT
Target to Issue Proprietary Credit Card ~ TGT announced that all new qualified credit card applicants will receive the Target Credit Card, a credit product accepted at all Target stores and Target.com. Effective April 29, 2010, Target will no longer issue the Target Visa (NYSE:V) Credit Card to new credit card applicants. Existing Target Visa Credit Card holders will not be affected. (Briefing)

Johnson & Johnson Beats by $0.02 ~ JNJ reports Q1 earnings of $1.29 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $1.27; revenues rose 4.0% year/year to $15.63 bln vs the $15.62 bln consensus. Co lowers guidance for FY10 due to FX and exchange rate changes, sees EPS of $4.80-4.90, ex-items, vs. $4.90 Thomson Reuters consensus, down from $4.85-4.95 previously. (Briefing)

Coca-Cola beats by $0.05 ~ KO reports Q1earnings of $0.80 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.75; revenues rose 5.0% year/year to $7.53 bln vs the $7.72 bln consensus, with comparable net revenues up 7%, reflecting a 2% impact due to the deconsolidation of certain entities required by a change in accounting guidance. Net revenues were further impacted by a 6% positive currency impact and a 3% increase in concentrate sales, partially offset by a 2% impact from price/mix. Net revenue was impacted during the quarter by geographic country mix as economic recovery in emerging markets continues to outpace the rest of the world. At the same time, we effectively executed our revenue growth management initiatives to realize positive pricing. This enabled us to grow global value share for the eleventh consecutive quarter while maintaining global volume share for the quarter. (Briefing)

Goldman Profit Beats Estimates ~ GS, facing a fraud lawsuit from U.S. regulators, reported first-quarter earnings that surpassed analysts’ estimates on record fixed- income trading revenue. Net income almost doubled to $3.46 billion, or $5.59 a share, from $1.81 billion, or $3.39, a year earlier, the New York-based bank said today in a statement. The average estimate of 23 analysts surveyed by Bloomberg was for $4.14 per share. Predictions ranged from $3.33 to $5.97. (Bloomberg)

Google Attackers Gained Access to Computer Code ~ Attackers who breached Google Inc.'s (NASDAQ:GOOG) systems last year gained access to computer code for the software that authenticates users of Google's email, calendar and other online programs, according to a person familiar with the matter. The code was contained in a repository that contained code for Google's online applications and was also breached, this person said. The disclosure comes as much about the nature of the attacks and the perpetrators behind it remain unclear. Google, which disclosed the attacks in January, opted following the incident to shut down its censored search service in China.  Security experts had previously uncovered evidence that the attackers had stolen some source-code from the company, by exploiting a security flaw in Microsoft Corp's Internet Explorer. (WSJ)


Disclosure: JNJ, KO, TGT