News Briefs: FedEx Beats Estimates, Goldman Sachs Wants To Re-Pay TARP

Economic bellwether FedEx (FDX) reported earnings of 64 cents a share, ex-items, beating estimates of 51 cents on a 20% drop in revenues to $7.85 billion from $9.87 billion

According to a WSJ report, Goldman Sachs (GS) has reportedly delivered a letter to congress advising of plans to repay funds borrowed under TARP sometime tomorrow.  JP Morgan (JPM) and Morgan Stanley (MS) are expected to repay their borrowings as early as today

According to a WSJ report, Sanofi-Aventis (SNY) is seeking a mega-deal in the US, which could include such possible candidates as: Bristol-Meyers-Squibb (BMY), Amgen (AMGN), Allergan (AGN), or Biogen (BIIB)

Nucor (NUE) said it expects a second-quarter loss of 55 cents to 65 cents a share, versus estimates of a 69 cent loss, citing benefits from cost cuttings and recent strengthening in order entry

Texas Instruments (TXN) received an analyst upgrade from Merrill Lynch, expecting strong margin expansion. Price target was raised to $27 from $18

Qualcomm’s (QCOM) rating was lifted to a “conviction buy” at Goldman Sachs (GS) with a price target of $53

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