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 08/19/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: There do not appear to be any bids to rival BHP Billiton’s (NYSE: BHP) for Potash (NYSE: POT).
- Reuters: GM filed for its IPO.
- Reuters: Hedge fund giant Stan Druckenmiller will close Duquesne Capital Management after 30 years in the business.
- Reuters: Hewlett-Packard (NYSE: HPQ) hired Spencer Stuart for its CEO search.
- Reuters: India said it found a way to access data from communications between Research In Motion (NASDAQ: RIMM) Blackberry handsets.
- Reuters: The Apple Inc (NYSE: AAPL) iPhone 4 may go on sale in China.
- New York Times: A new federal agency is providing funds for alternative car fuels.
- Bloomberg: The yield on Germany’s 30-year bond dropped below 3%.
- Bloomberg: Florida could bill BP plc (NYSE: BP) for oil damages which would help close its budget gap.
These are this Thursday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Abercrombie & Fitch Co. (NYSE: ANF) Raised to Accumulate at Standpoint.
- Aruba Networks, Inc. (NASDAQ: ARUN) Cut to Hold at Stifel Nicolaus.
- Cirrus Logic Inc. (NASDAQ: CRUS) Cut to Hold at Stifel Nicolaus.
- DigitalGlobe, In.c (NYSE: DGI) Raised to Buy at Canaccord.
- Encana Corp. (NYSE: ECA) Raised to Outperform at Macquarie.
- Gap Inc. (NYSE: GPS) Started as Buy at Standpoint.
- Motorola Inc. (NYSE: MOT) Cut to Hold at Standpoint.
- Open Text Corp. (NASDAQ: OTEX) Raised to Outperform at Morgan Keegan.
- SIRIUS XM Radio Inc. (NASDAQ: SIRI) Started as Buy at Maxim Group.
- Symantec Corporation (NASDAQ: SYMC) Started as Buy at Standpoint.