• Alcoa (NYSE:AA) was upgraded to "buy" from "hold" by Deutsche Bank (NYSE:DB) due to a "more optimistic view of base, bulk and precious metals over the medium-term"

• After yesterday's close, Bank of America (NYSE:BAC) CEO, Ken Lewis, announced plans to retire. The bank also reported plans to sell its asset-management unit to Ameriprise (NYSE:AMP) for between $900 and $1.2 billion

• Goldman Sachs (NYSE:GS) received two brokerage upgrades

• Comcast (NASDAQ:CMCSA) denied reports of talks with General Electric (NYSE:GE) over the purchase of a stake in NBC Universal

• Cisco Systems (NASDAQ:CSCO) initiated a $3 billion cash offer for Norwegian video-conferencing firm Tandberg

• Microsoft (NASDAQ:MSFT) was removed from Goldman Sachs' (NYSE:GS) Conviction Buy List, with its "buy" rating maintained and a $30 price target

• Constellation Brands (NYSE:STZ) reported fiscal second quarter results of 45 cents up from estimates of 41 cents equaling last year's 45 cents

• Alcoa (NYSE:AA) was upgraded to "buy" from "hold" by Deutsche Bank (NYSE:DB) due to a "more optimistic view of base, bulk and precious metals over the medium-term"

• After yesterday's close, Bank of America (NYSE:BAC) CEO, Ken Lewis, announced plans to retire. The bank also reported plans to sell its asset-management unit to Ameriprise (NYSE:AMP) for between $900 and $1.2 billion

• Goldman Sachs (NYSE:GS) received two brokerage upgrades

• Comcast (NASDAQ:CMCSA) denied reports of talks with General Electric (NYSE:GE) over the purchase of a stake in NBC Universal

• Cisco Systems (NASDAQ:CSCO) initiated a $3 billion cash offer for Norwegian video-conferencing firm Tandberg

• Microsoft (NASDAQ:MSFT) was removed from Goldman Sachs' (NYSE:GS) Conviction Buy List, with its "buy" rating maintained and a $30 price target

• Constellation Brands (NYSE:STZ) reported fiscal second quarter results of 45 cents up from estimates of 41 cents equaling last year's 45 cents

Shares of Ameriprise Financial Inc. (AMP) lost nearly 9% a day after the company said it would raise $900 million in a common equity offering and use the proceeds for potential acquisitions.

The Minneapolis-based financial adviser that declined federal bailout money last month also plans to grant underwriters an option to purchase up to an additional 15% more shares to cover over-allotments.

Ameriprise had indicated last month that it was looking for acquisitions to expand its retail and asset management businesses. Last November, the company bought H&R Block Financial Advisors for $315 million.

While Ameriprise did not specify if it had identified a potential target, industry experts believe the company is trying to take advantage of the recent interest in new equity offerings.

However, investors speculated that the secondary offering would lead to significant dilution of their current holdings and took Ameriprise shares down more

All three major indexes were down for today and the week, with the S&P down 1.14% today.  The NASDAQ was down 0.54% to close at 1680.14, with the Dow dropped 0.75% closing at 8268.64.  Yields on the treasury fell to 3.136% as the price on the 10-year was up.  The price of crude oil fell to settle at $56.34, while gold headed in the opposite direction settling up at $931.30. 

Prudential Financial [PRU: 37.75, -1.62 (-4.11%)] and Ameriprise Financial [AMP: 25.40, +0.34 (+1.36%)], became two of the six life insurance companies extended TARP funds by the Treasury Department, have declined the government’s offer of capital.  Prudential has not accepted the money as their stock has seen significant appreciation from a low this calendar year of just above $11 to close today at $37.75, and the company believes that they are in no need of government