24/7 Wall St. Daily Market Roundup
Every morning, 24/7 Wall St. editors cover the news, identifying important events and market-moving stories.
The following are the highlights for our Media Digest 09/02/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: GM’s IPO road show will begin in November.
- Reuters: Costco’s (NASDAQ: COST) August sales rose 7%.
- Reuters: Apple Inc.’s (NASDAQ: AAPL) iTV is the latest effort to make a web-connected living room.
- Reuters: Baidu (NASDAQ: BIDU) will focus more on mobile search.
- New York Times: Allergan agreed to pay $600 million to settle charges that it promoted and sold Botox for unapproved uses.
- New York Times: The IMF warned large developed nations on their debt levels.
- Bloomberg: Shares in stocks of emerging market companies are at an all-time high while they have fallen greatly in the developed world.
These are this Thursday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Applied Micro Circuits Corp. (NASDAQ: AMCC) Cut to Sell at S&P Equity Research (late Wednesday call).
- Boston Scientific Corp. (NYSE: BSX) Started as Hold at Stifel Nicloaus.
- Clearwire Corporation (NASDAQ: CLWR) Started as Buy at Kaufman Bros.
- Flextronics International LTD. (NASDAQ: FLEX) Cut to Buy from Strong Buy at S&P Equity Research (late Wednesday call).
- Jack in the Box Inc. (NASDAQ: JACK) Started as Equalweight at Morgan Stanley.
- Medtronic, Inc. (NYSE: MDT) Started as Hold at Stifel Nicloaus.
- Melco Crown Entertainment Ltd. (NASDAQ: MPEL) Raised to Overweight at Morgan Stanley.
- Moody’s Corp. (NYSE: MCO) Started as Market Perform at KBW.
- Netflix, Inc. (NASDAQ: NFLX) Started as Hold at ThinkEquity.
- PPL Corporation (NYSE: PPL) Cut to Hold at Citigroup.
- Rio Tinto plc (NYSE: RTP) Raised to Outperform at RBC.
- Zimmer Holdings Inc. (NYSE: ZMH) Started as Buy at Stifel Nicolaus.