NEW YORK ( TheStreet) -- Carnival ( CCL - Get Report) shares were plunging 17.4% to $28.33 in premarket trading Tuesday as the stock continued to suffer from the Costa Concordia cruise ship disaster.

Ista Pharmaceuticals ( ISTA) said it has received a revised non-binding proposal from Valeant Pharmaceuticals ( VRX) and will consider the updated proposal.

Valeant raised its offer to $7.50 a share in cash from $6.50 and has set a target price of $8.50 a share in cash.

Ista shares were surging 13.5% to $8.25 in premarket trading Tuesday.

Royal Bank of Scotland ( RBS) said Tuesday it would sell its aircraft leasing division -- RBS Aviation Capital -- to Japan's Sumitomo Mitsui Financial for $7.3 billion.

RBS Aviation owns 206 aircraft and has commitments to buy another 87 by 2015, commitments the Japanese company takes on with the purchase, according to The Associated Press.

RBS shares were gaining 6% to $7.80.

Citigroup ( C - Get Report) is expected to post fourth-quarter earnings of 50 cents a share, according to estimates of analysts from Zacks.

Wall Street will be focusing on whether the bank's growth plan can lead to a dividend boost or share buyback.

Citigroup shares were spiking 2.2% to $31.43.

Wells Fargo ( WFC - Get Report) is seen earning 72 cents a share in the fourth quarter, according to the estimates of analysts polled by Zacks. Wells Fargo shares were rising 1.9% to $30.18.

Morgan Stanley ( MS - Get Report) plans to tell employees this week that bonuses will drop sharply, The Wall Street Journal reported, with cash payouts capped at $125,000.

Citing people familiar with the matter, the newspaper said some top executives will receive nothing now, deferring their 2011 payouts until the end of 2012.

Morgan Stanley will defer the portion of any bonus past $125,000 until December 2012 and December 2013, according to one of the people familiar with the matter. CEO James Gorman and the other nine members of the banks operating committee will defer their entire bonuses for the year, the person said, collecting them later.

TD Ameritrade ( AMTD - Get Report), the online brokerage, reported earnings of 27 cents a share for the quarter ended in December, beating the 26 cents expected by analysts polled by Zacks.

BB&T ( BBT - Get Report) and Toronto-Dominion Bank ( TD - Get Report) are among companies in talks to buy BankUnited ( BKU ), according to Bloomberg.

Chemical products maker Georgia Gulf ( GGC) rejected a $1.03 billion proposal from Westlake Chemicals ( WLK - Get Report).

Check Point Software Technologies ( CHKP ) reported fourth-quarter earnings of 84 cents a share on revenue of $356.8 million, beating the average analyst earnings estimate of 82 cents a share on revenue of $355.6 million.

-- Written by Joseph Woelfel and Andrea Tse

>To contact the writer of this article, click here: Andrea Tse.

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