• Alcoa (NYSE:AA) was upgraded to “buy” from “hold” by Deutsche Bank (NYSE:DB) due to a “more optimistic view of base, bulk and precious metals over the medium-term”
• After yesterday’s close, Bank of America (NYSE:BAC) CEO, Ken Lewis, announced plans to retire. The bank also reported plans to sell its asset-management unit to Ameriprise (NYSE:AMP) for between $900 and $1.2 billion
• Goldman Sachs (NYSE:GS) received two brokerage upgrades
• Comcast (NASDAQ:CMCSA) denied reports of talks with General Electric (NYSE:GE) over the purchase of a stake in NBC Universal
• Cisco Systems (NASDAQ:CSCO) initiated a $3 billion cash offer for Norwegian video-conferencing firm Tandberg
• Microsoft (NASDAQ:MSFT) was removed from Goldman Sachs’ (NYSE:GS) Conviction Buy List, with its “buy” rating maintained and a $30 price target
• Constellation Brands (NYSE:STZ) reported fiscal second quarter results of 45 cents up from estimates of 41 cents equaling last year’s 45 cents
