Company News for December 1, 2010 - Corporate Summary

• State Street (NYSE:STT) said it will lay off 1,400 jobs, or 5% of its workforce

• RLI (NYSE:RLI) said it will pay a $7.00 per share special dividend

• Bank of America (NYSE:BAC) initiated coverage of Dendreon (NASDAQ:DNDN) with a “buy” rating and a price target of $44

• Jefferies (NYSE:JEF) initiated coverage of Expedia (NASDAQ:EXPE) with a “buy” rating and a price target of $36

• Goldman Sachs (NYSE:GS) upgraded Tyson (NYSE:TSN) to “neutral” from “sell,” with a price target of $15

• UBS (NYSE:UBS) upgraded Kroger (NYSE:KR) to “buy” from “neutral”

• JP Morgan (NYSE:JPM) upgraded Deutsche Bank (NYSE:DB) from “underweight” to “neutral”

• HSBC (NYSE:HBC) started coverage of Corning (NYSE:GLW) with an “overweight” rating and a $23 price target

• JP Morgan (NYSE:JPM) initiated coverage of American Express (NYSE:AXP) with an “overweight” rating and a price target of $50

Company News for December 1, 2010 – Corporate Summary