Apollo Group [APOL 32.47 -1.08 (-3.22%) ] - The for-profit education provider reported quarterly profit of $1.20 per share for its latest quarter, well above estimates of $0.97. It also raised the low end of its fiscal-year sales guidance.
Coinstar [CSTR 65.39 -0.05 (-0.08%) ] - Coinstar is cutting its profit outlook for the year, due to the costs associated with its acquisition of NCR’s DVD assets. Coinstar — which owns the Redbox video rental business — expects to take a charge of 40 cents to 50 cents per share for that purchase.
Seagate Technology [STX 23.27 -0.07 (-0.3%) ] - The hard disk drive maker will become a member of the S&P 500 index after the close on Friday, replacing Progress Energy [PGN 59.72 0.14 (+0.23%) ]. Progress is in the process of being acquired by Duke Energy [DUK 22.93 0.05 (+0.22%) ].
Lennar [LEN 26.58 0.21 (+0.8%) ] - The homebuilder is said to be in talks with China Development Bank for a $1.7 billion loan, according to The Wall Street Journal. The paper reported Lennar is planning to use the money to build projects in San Francisco.
Cognizant Technology [CTSH 57.90 -0.57 (-0.97%) ] - The technology services provider has been downgraded to "sell" from "neutral" at Goldman Sachs, which points to a high stock valuation and lower revenue growth prospects.
SBA Communications [SBAC 55.64 0.89 (+1.63%) ] - SBA is buying more than 3,200 mobile phone towers from privately held TowerCo in a deal worth $1.45 billion.
Morgan Stanley [MS 13.48 -0.66 (-4.67%) ] - Goldman Sachs has removed the stock from its "Conviction Buy" list, noting that the stock has fallen 27 percent since it was added to the list back in January. Goldman says Morgan Stanley has greater than average exposure to the macroeconomic environment.
JPMorgan Chase [JPM 35.32 -0.67 (-1.86%) ] - As it removed Morgan Stanley from the "Conviction Buy" list, Goldman has added JPMorgan Chase to the list. Goldman sees a 19 percent upside for the stock, saying JPM has the capital structure and earnings power to withstand the $2 billion trading loss that was announced in May.
Amazon.com [AMZN 220.07 -2.09 (-0.94%) ] - CNET is reporting that Amazon may launch a second-generation Kindle Fire e-reader in July.
LDK Solar [LDK 2.02 -0.10 (-4.72%) ] - The solar equipment maker reported a first-quarter loss of $1.46 per share, $0.32 wider than expected, and is also providing 2012 revenue guidance that falls below Street estimates.