Citigroup (C: 4.01 +0.05 +1.26%) is seeking to raise more than $3 billion for its private-equity and hedge funds through Citi Capital Advisors, even as U.S. lawmakers are debating to overhaul regulation of Wall Street.
- BP (BP: 31.76 +0.05 +0.16%) shares are up nearly 2% in early Friday trading. Moody’s Investors Service (MCO: 21.10 +0.28 +1.34%) today cut BP’s credit ratings three notches to A2, the sixth-highest investment grade, from Aa2.
- Pharmacy chains Walgreen (WAG: 30.09 +0.82 +2.80%) and CVS Caremark (CVS: 32.43 +0.59 +1.85%) are extending their ties, having come to an agreement under which participants in CVS pharmacy benefit management (PBM) plans can continue to fill their prescriptions at Walgreen. CVS is up more than 3% to $32.74 and Walgreen shares are up 4.2% to $30.50.
- Supermarket chains Kroger (KR: 20.06 -0.69 -3.33%) and Safeway (SWY: 20.83 -0.82 -3.79%) were cut to underperform at Bank of America-Merrill Lynch (BAC: 15.82 0.00 0.00%). Both their stocks fell more than 2% in early Friday trading.
- Apple (AAPL: 274.074 +2.204 +0.81%) was initiated with an Outperform rating at Cowen. Its shares are up 0.36% to $272.84 in morning New York trading. Rodman Renshaw analyst Ashok Kumar said Apple’s iPhone production will not be sufficient enough to meet consumer demand.
Friday, June 18, 2010
7 Stocks To Know For Friday: Citigroup, BP, Walgreen, CVS Caremark, Kroger, Safeway, Apple
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