Premarket roundup: AM Castle, Wachovia standstill

NEW YORK (AP)--A Jefferies and Co. analyst downgraded metal and plastics supplier A.M. Castle & Co. to "Hold" from "Buy" Tuesday, citing broader weakness in the U.S. steel market that is expected to last for the rest of the year.

NEW YORK (AP)--Investors appeared to be waiting on the sidelines Tuesday for a compromise to be reached between Citigroup and Wells Fargo over their battle for Wachovia, after the banks agreed to put several legal proceedings on hold until Wednesday.

SIOUX FALLS, S.D. (AP)--A Friedman, Billings, Ramsey analyst on Tuesday upgraded shares of Freeport-McMoRan Copper & Gold Inc., saying shares of the mining giant have been oversold.

NEW YORK (AP)--An analyst on Tuesday said J.C. Penney Co. is facing difficult traffic and weather trends and lowered his estimates on the department-store operator.

NEW YORK (AP)--Analysts cut their earnings estimates and price targets early Tuesday for Bank of America Corp., after the national bank reported weaker-than-expected third-quarter profit and announced plans to raise $10 billion in new capital while slashing its dividend in half.

WASHINGTON (AP)--The FDIC is considering a plan to increase the fees paid by U.S. banks and thrifts to replenish the deposit insurance fund.

NEW YORK (AP)--Safeway Inc., one of the largest U.S. food and drug retailers, is expected to report that profit rose slightly in the third quarter from a year ago.