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Corporate Summary

•    Research firm  Argus downgraded Flextronics International Ltd. (NASDAQ:(FLEX - Snapshot Report) from "buy" to "hold" rating

•    Merck & Co. Inc.'s (NYSE:(MRK - Analyst Report) earnings per share (excluding  special items) for the first quarter of 2011 came in at 92 cents, well above the Zacks Consensus Estimate of 84 cents and the year-ago earnings of 83 cents

•    Aon Corporation (NYSE:(AON - Analyst Report) reported Q1 EPS of $0.80, ex-items, in line with the Zacks Consensus Estimate

•    Verizon Communications Inc. (NYSE:(VZ - Analyst Report) fell after Citigroup downgraded the company from "buy to "hold" rating," citing valuation

•    ConAgra Foods, Inc. (NYSE:(CAG - Analyst Report) made an unsolicited bid for Ralcorp Holdings Inc. (NYSE:RAH), according to a report

•    Chevron Corp. (NYSE:(CVX - Analyst Report) reported a jump in its first-quarter 2011 profits, benefiting from higher oil prices and stronger refining margins. Earnings per share (excluding adjustments for foreign-currency effects) came in at $3.17, above the Zacks Consensus Estimate of $2.99 and the year-ago adjusted profit of $2.37

•    Total SA (NYSE:(TOT - Analyst Report) announced its plans to buy a 60% stake for about $2.3 billion in SunPower Corporation (NASDAQ:

•    DR Horton Inc. (NYSE:(DHI - Analyst Report) reported net income of $27.8 million or 9 cents per share in the second quarter of fiscal 2011. However, on excluding a non-cash tax benefit of $59.2 million and charges of $14.3 million for inventory impairments and land option cost write-offs, DR Horton realized a net loss of $17.1 million or 5 cents per share at par with the Zacks Consensus Estimate