24/7 Wall St. Daily Market Roundup
Each day, 24/7 Wall St. editors cover the news, identifying important events and market-moving stories.
The following are the highlights for our Media Digest 08/10/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: Economists have cut forecasts and look to the Federal Reserve to take action.
- Reuters: BP Plc (NYSE: BP) will try the final stage of killing its leaking well and has begun to fund its $20 billion escrow.
- Reuters: Verizon Communications (NYSE: VZ) and Google Inc. (NASDAQ: GOOG) have proposed controversial web traffic rules.
- Reuters: Oil fell below $80 on lower China imports.
- Reuters: Skype filed for an IPO of $100 million.
- New York Times: The Fed is concerned that deflation is a problem.
- New York Times: Merrill Lynch covered up risks of mortgage securities.
- New York Times: China’s trade surplus rose to $28.7 billion.
- New York Times: China shut 2000 factories to increase energy efficiency.
- New York Times: Chrysler loss narrowed on higher sales and lower costs.
- Bloomberg: China’s trade surplus rose as imports fell.
- Bloomberg: Warren Buffett shortened the duration of bonds held by his Berkshire Hathaway Inc. after warning that deficit spending could force inflation higher.
These are this Tuesday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Allegheny Technologies Inc. (NYSE: ATI) Raised to Buy at BofA/Merrill Lynch.
- American Dairy Inc. (NYSE: ADY) Cut to Hold at Roth Capital.
- BorgWarner Inc. (NYSE: BWA) Cut to Hold at Deutsche Bank.
- CTC Media, Inc. (NASDAQ: CTCM) Raised to Overweight at Morgan Stanley.
- DigitalGlobe Inc. (NYSE: DGI) Cut to Hold at Canaccord.
- eResearch Technology (NASDAQ: ERES) Cut to Sell at Benchmark.
- Northrop Grumman Corp. (NYSE: NOC) Cut to Market Perform at FBR.
- Royal Bank of Scotland Group plc (NYSE: RBS) Cut to Neutral at Credit Suisse.
- Superior Well Services, Inc. (NASDAQ: SWSI) Cut to Hold at Jefferies.
- Whole Foods Market Inc. (NASDAQ: WFMI) Raised to Buy at UBS.