Company News for January 12, 2011 - Corporate Summary

• JP Morgan (NYSE:JPM) has downgraded Goldman Sachs (NYSE:GS) from “overweight” to “neutral” rating because of valuation concerns, setting a target price of $175

• AIG (NYSE:AIG) has planned to sell off its Taiwan life insurance unit for $2.16 billion

• Cliffs Natural Resources (NYSE:CLF) has agreed to pay $4.95 billion for Consolidated Thompson Iron Mines

• ITT (NYSE:ITT) has announced plans to break up into three publicly-traded companies

• JP Morgan (NYSE:JPM) CEO Jamie Dimon announced plans of a dividend hike to an annual rate of $0.75-$1.00 following stress test completion which is expected at the end of 2011 or in early 2012

• Boeing (NYSE:BA) rival Airbus announced a deal worth $15.6 billion to sell 180 planes to Indigo which is an Indian budget airline

• Bernstein downgraded General Electric (NYSE:GE) from “outperform” to “market perform”

• Goldman Sachs (NYSE:GS) has upgraded Verizon (NYSE:VZ) to “buy” rating from “neutral,” raising the target price to $42 from $34

• UBS (NYSE:UBS) has downgraded AK Steel (NYSE:AKS) from “neutral” to “sell” rating

• Goldman Sachs (NYSE:GS) added Carnival Corp. (NYSE:CCL) to its Conviction Buy List with a target price of $55

Company News for January 12, 2011 – Corporate Summary

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