Company News for March 24, 2011 - Corporate Summary

• According to a regulatory filing, the Federal Reserve rejected Bank of America’s (NYSE:BAC) plan for a hike in its dividend in the second half of 2011

• Colgate Palmolive (NYSE:CL) announced its plans to buy the Sanex personal care brand from Unilever PLC (NYSE:UL) for $940 million in cash

• Freeport-McMoRan Copper & Gold (NYSE:FCX) closed 4.97% higher at $54.88 after the company’s CEO said that the company has the balance sheet to handle a large acquisition

• Micron (NYSE:MU) reported Q2 EPS of $0.07, topping the Zacks Consensus Estimate of $0.04 per share. Revenues for the quarter rose 15% year-over-year to $2.26 billion, ahead of the Zacks Consensus Estimate of $2.094 billion

• UBS AG (NYSE:UBS) upgraded internet company AOL Inc. (NYSE:AOL) to “Buy” from “Neutral” rating

• Biotechnology company Omeros Corp.(NASDAQ:OMER) said its potential eye-surgery treatment met key goals in a mid-stage study

• Real-estate investment trust Newcastle Investment Corp. (NYSE:NCT) said it would sell 15 million shares

• Tokyo Electric Power Co.’s (PINK:TKECF) U.S.-listed shares fell 12% after wire service reports that the operator of the damaged Fukushima Daiichi nuclear plant was in talks with a trio of Japanese banks for as much as $25 billion in loans

• Goldman Sachs (NYSE:GS) upgraded PulteGroup Inc (NYSE:PHM) to ‘Conviction Buy’ rating and increased its target price to $10 from $8

• Deutsche upgraded Bunge Ltd (NYSE:BG) to ‘Buy’ from ‘Hold’ rating and increased its target price to $80 from $74

Company News for March 24, 2011 – Corporate Summary

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