Company News for September 2, 2009

• MetLife (NYSE:MET - Analyst Report) shares fell 7.4% after the shares were downgraded by Raymond James Financial on valuation concerns

• BP (NYSE:BP - Snapshot Report) announced a "giant" new oil discovery in the Gulf of Mexico, named "Tiber," one of the deepest wells ever drilled

• Acadia Pharmaceuticals (NASDAQ:ACAD - Analyst Report) reported disappointing Phase III trail results for its primavanserin drug in treatment of Parkinson's disease psychosis

• Joy Global (NASDAQ:JOYC) announced fiscal third quarter earnings of $1.21 per share, beating estimates of 95 cents a share, on revenues of $956 million, up from projections of $902.4 million. The firm said it sees 2009 revenues to equal its prior $3.5 billion to $3.6 billion guidance, and raised its earnings guidance to $4.00 to $4.20 per share, from its view of $3.80 to $4.00 per share

• Textron (NYSE:TXT - Snapshot Report) was upgraded by Goldman Sachs (NYSE:GS - Analyst Report) to "buy" from "neutral."  Goldman also added the firm to its conviction buy list with a price target of $23

• Citigroup (NYSE:C - Analyst Report) upgraded Cooper Industries (NYSE:CBE - Snapshot Report) and cut the ratings on Rockwell Automation (NYSE:ROK - Analyst Report) to "sell"