(BK) Company News for September 2, 2011 – Corporate Summary

•    International Business Machines Corp. (NYSE:IBM) announced it was acquiring Algorithmics, a risk analytics firm based in Toronto, Canada, for $387 million in cash

•    Negotiations between Netflix, Inc.’s (NASDAQ:NFLX) and Starz Entertainment regarding the renewal of Starz’s licensing agreement collapsed. Subsequently, the pay cable network announced that it will stop providing its content to Netflix

•    According to reports, Chevron Corp. (NYSE:CVX) announced that a tropical disturbance has forced the company to remove its workers from the Gulf of Mexico

•    CIENA Corp. (NASDAQ:CIEN) reported third quarter Non-GAAP earnings per share of $0.08 that surpassed the Zacks Consensus Estimate of a loss of $0.21 per share

•    Conflicting management styles saw Robert P. Kelly resign as chairman, chief executive officer and director of The Bank of New York Mellon Corporation (NYSE:BK)

•    Verizon Communications Inc. (NYSE:VZ) declared it had hiked its quarterly dividend from $0.48 to $0.50

•    Weakness across all of Toyota Motor Corp.’s (NYSE:TM) models resulted in sales declining by 13%

•    The Goldman Sachs Group, Inc. (NYSE:GS) was ordered by the Federal Reserve to recheck its foreclosure practices, citing a “pattern of misconduct and negligence”

BANK OF NY MELL (BK): Free Stock Analysis Report

CIENA CORP (CIEN): Free Stock Analysis Report

CHEVRON CORP (CVX): Free Stock Analysis Report

GOLDMAN SACHS (GS): Free Stock Analysis Report

INTL BUS MACH (IBM): Free Stock Analysis Report

NETFLIX INC (NFLX): Free Stock Analysis Report

TOYOTA MOTOR CP (TM): Free Stock Analysis Report

VERIZON COMM (VZ): Free Stock Analysis Report

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