• BASF is expected to announce a deal this week to acquire specialty chemical maker Cognis, owned by Goldman Sachs (NYSE:GS) and Permira Advisors, for over $4.1 billion
• Amazon.com (NASDAQ:AMZN) announced plans to relaunch an on-line clothing store
• BP’s (NYSE:BP) internal memo reported the spill could be worse than expected at 100,000 bpd Gulf oil spill. Reports says the company looking to raise $50 billion through asset sales and borrowings
• Citigroup (NYSE:C) is reportedly seeking to raise over $3 billion for its private equity and hedge funds, even as the Congress continue to work on a financial regulatory reform package
• California Pizza Kitchen (NASDAQ:CPKI) lowered its fiscal second quarter earnings guidance to 10-15 cents per share from a range of 24-26 cents earlier
• Anticipating another strong quarterly post, Piper Jaffray (NYSE:PJC) analysts reiterated their “overweight” rating on EMC (NYSE:EMC) with a $23 price target
• Smart Modular Tech (NASDAQ:SMOD) posted fiscal third quarter adjusted earnings of 26 cents, beating estimates of 18 cents on revenues of $201.2 million, up from estimates of $180.02 million. Guidance for the fourth quarter was set at 22-24 cents on sales of $200-$210 million
