Company News for June 17, 2009

• Economic bellwether FedEx (NYSE:FDX - Analyst Report) reported earnings of 64 cents a share, ex-items, beating estimates of 51 cents on a 20% drop in revenues to $7.85 billion from $9.87 billion

• According to a WSJ report, Goldman Sachs (NYSE:GS - Analyst Report) has reportedly delivered a letter to congress advising of plans to repay funds borrowed under TARP sometime tomorrow.  JP Morgan (NYSE:JPM - Analyst Report) and Morgan Stanley (NYSE:MS - Analyst Report) are expected to repay their borrowings as early as today

• According to a WSJ report, Sanofi-Aventis (NYSE:SNY - Analyst Report) is seeking a mega-deal in the US, which could include such possible candidates as: Bristol-Meyers-Squibb (NYSE:BMY - Analyst Report), Amgen (NASDAQ:AMGN - Analyst Report), Allergan (NYSE:AGN - Analyst Report), or Biogen (NASDAQ:BIIB - Analyst Report)

• Nucor (NYSE:NUE - Analyst Report) said it expects a second-quarter loss of 55 cents to 65 cents a share, versus estimates of a 69 cent loss, citing benefits from cost cuttings and recent strengthening in order entry

• Texas Instruments (NYSE:TXN - Analyst Report) received an analyst upgrade from Merrill Lynch, expecting strong margin expansion. Price target was raised to $27 from $18

• Qualcomm's (NASDAQ:QCOM - Analyst Report) rating was lifted to a "conviction buy" at Goldman Sachs (NYSE:GS - Analyst Report) with a price target of $53

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Read the full analyst report on BIIB

Read the full analyst report on NUE

Read the full analyst report on TXN

Read the full analyst report on QCOM