• Sunday's WSJ reported that GlaxoSmithKline (NYSE: GSK) had made a "very casual approach" to Genzyme (NASDAQ: GENZ)

• Reports say embattled BP (NYSE: BP) CEO Tony Hayward is on his way out, as the firm reports results tomorrow, with American executive Bob Dudley expected to replace Hayward

• Lorillard (NYSE: LO) posted better-than-projected second quarter results of $1.73, a 12 cent beat, on a 12.3% revenue increase to $567.1 billion, up from estimates of $559.02 billion

• Goldman Sachs (NYSE: GS) initiated coverage of recent IPO CBOE Holdings (NASDAQ: CBOE) with a "neutral" rating a $30 price target

• Deutsche Bank (NYSE: DB) upgraded AT&T (NYSE: T) from "hold" to "buy," with a $31 price target.

• Goldman Sachs (NYSE: GS) lifted its price target for Ford (NYSE: F) to $16 from $14 following its better-than-expected second quarter returns, as well increasing its estimate for 2010 earnings to $1.85 from $1.40, for 2011 to $1.92 from $1.60, and 2012 to $2.13 from $1.85

• Wells Fargo (NYSE: WFC) initiated coverage of American Electric Power (NYSE: AEP) with an "outperform" rating and a price target range of $40-$41