Company News for December 6, 2010

Rio Tinto (NYSE:RIO) is reported to be in talks with a possible $3.2 billion offer in the works for Australian Riverdale Mining

• Barron’s wrote favorably on Big Lots (NYSE:BIG) on valuation merits after last week’s earnings miss

• According to All Things Digital, talks between Google (NASDAQ:GOOG) and Groupon were terminated

Pfizer (NYSE:PFE) CEO Kindler stepped down from his position

Bank of America (NYSE:BAC) says it now meets standards to exit Tarp

Dollar General (NYSE:DG) posted better-than-expected third quarter earnings of $0.39 versus $0.35 estimates, on inline revenues of $3.22 billion

• Oppenheimer upgraded Cisco (NASDAQ:CSCO) from “market-perform” to “outperform,” with a $23 price target

Goldman Sachs (NYSE:GS) upgraded Abercrombie & Fitch (NYSE:ANF) from “buy” to “conviction buy,” with a price target of $70

Jefferies (NYSE:JEF) maintained a “buy” on Air Products (NYSE:APD), lifting the price target from $96 to $105

• KBW downgraded Royal Bank of Canada (NYSE:RY) from “outperform” to “market perform,” and dropped the price target from $58 to $56

• FBR reiterated its “outperform” rating on Illinois Tool Works (NYSE:ITW) with a price target of $62

Morgan Stanley (NYSE:MS) raised its estimates and target price on Netflix (NASDAQ:NFLX), taking the fair value target from $185 to $225, and the bull case fair value to $265

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