Company News for March 24, 2011 - Corporate Summary

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

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

• Freeport-McMoRan Copper & Gold 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 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 UBS upgraded internet company AOL Inc. AOL to “Buy” from “Neutral” rating

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

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

• Tokyo Electric Power Co.'s 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 GS upgraded PulteGroup Inc PHM to ‘Conviction Buy' rating and increased its target price to $10 from $8

• Deutsche upgraded Bunge Ltd BG  to ‘Buy' from ‘Hold' rating and increased its target price  to $80 from $74