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Company News for August 9, 2011

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•    Share prices of America's biggest bank, Bank of America Corp. (NYSE:BAC) fell 20.32% after a report in the New York Times said that American International Group, Inc. (NYSE:AIG) has filed a suit against the bank to recover more than $10 billion in losses due to mortgage-backed securities

•    Car rental company Dollar Thrifty Automotive Group, Inc.'s (NYSE:DTG) shares declined by 12.75% to close at $58.79 after the company posted second quarter earnings results that came in below expectations

•    Share prices of DG FastChannel Inc. (NASDAQ:DGIT) fell 24.95% after the company, which is primarily engaged in advertising and distribution, reported a fall in quarterly revenue results that came in below estimates

•    Telecom-software maker BroadSoft Inc.’s  (NASDAQ:BSFT) share prices rose 9.70% after the company's forecasted earnings for fiscal 2011 beating the Street’s consensus estimate

•    According to a report in The Wall Street Journal, Valeant Pharmaceuticals International Inc. (NYSE:VRX) has approached Medicis Pharmaceutical Corp. (NYSE:MRX) for a possible purchase of the latter

•    National Indemnity Company, a subsidiary of Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A)    (NYSE:BRK.B) said it has offered to acquire reinsurer Transatlantic Holdings Inc. (NYSE:TRH) in a deal worth $52 per share. Following this development, shares of the reinsurer gained 6.79% to close at $48.31

•    Shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) were downgraded by RBC Capital from "Outperform" rating to "Sector perform" rating with a revised target price of $32.00, down from $36.00

•    Analysts at  Robert W. Baird downgraded J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) to "Neutral" rating from "Outperform" rating setting a target price of $51.00 on the stock

•    Analysts at Goldman Sachs (NYSE:GS) upgraded shares of aviation giant Boeing (NYSE:BA) to "Buy" rating from "Neutral" rating with a target price of $90.00. Goldman Sachs also added Boeing to its Conviction Buy list

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