Company News for June 7, 2010 - Corporate Summary

• Apple's AAPL worldwide developers' conference starts today with CEO Steve Jobs making the keynote address.  Expectations are the latest iPhone version would be unveiled

• BP BP reported its first evidence of progress in the seven-week Gulf oil spill, with about half of the estimated escaping oil reportedly stemmed by the latest capping attempt

• Grifols plans to acquire Talecris TLCR for $3.4 billion, or $26.16 per share

• Ocean Engineering OII cut its full-year guidance from a range of $3.25-$3.55 to $2.80-$3.10

• Goldman Sachs GS upgraded Bristol-Myers BMY to "buy" from "neutral," with a price target of $30

• Ouriga upgraded Cisco CSCO to "buy" from "hold," raising the price target from $25 to $27

• Goldman Sachs GS downgraded Abbott Labs ABT from "buy" to "neutral," with a $69 price target

• Piper Jaffray PJC maintained its "neutral" rating on Research in Motion RIMM, cutting the price target to $66 from $77