Company News for June 5, 2009

• Valero (NYSE:VLO) was downgraded to "underperform" from "market perform" following news of its suspension of expansion plans for its Port Arthur refinery. Valero's 40 million shares offering was repriced lower at $18, sharply off original estimates, although only a slight discount to Wednesday's close

• Goldman Sachs' (NYSE:GS) removed Gap Stores (NYSE:GPS) from its conviction buy list, and downgraded the stock to "neutral."

• Dupont (NYSE:DD) was downgraded by Merrill's analysts as being fully priced

• Rio Tinto (NYSE:RTP) initiated a deeply-discounted $15.2 billion rights issue as well as a joint venture with BHP Billiton (NYSE:BHP), walking away from its $19.5 billion Chinalco (NYSE:ACH) deal

Read the full analyst report on VLO

Read the full analyst report on GS

Read the full analyst report on GPS

Read the full analyst report on DD

Read the full analyst report on RTP

Read the full analyst report on BHP

Read the full analyst report on ACH