Updated throughout the day.

Update 1:45 PM EST: Tellabs Inc. (NASDAQ: TLAB) is at risk of losing much of its AT&T business due to vendor consolidation (Barclays research downgrade). Shares down over 11% at $6.97.

Update: Societe Generale has a massive derivative desk trading losses… Shares down over 7% in Paris.

Booz & Co. and AT Kearney are in merger talks (FT)

The BP plc well cap is capturing 90% of leaking oil (Bloomberg)

Douglas A. McIntyre