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 08/20/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: Korean National Oil made a bid for UK firm Dana Petroleum.
- Reuters: Dell (NASDAQ: DELL) and Hewlett-Packard (NYSE: HPQ) shares dropped on concern about a tech slowdown.
- Reuters: Potash (NYSE: POT) is looking for a higher bid than the one made by BHP Billiton (NYSE: BHP).
- Reuters: An Indian executive says that a solution to solve Research In Motion (NASDAQ: RIMM) Blackberry problems has to come from the Canadian company.
- Reuters: The Defense Department is looking at tech to improve efficiency.
- Reuters: Alliance Medical may be for sale.
- Reuters: Three US shale gas firms are for sale.
- New York Times: Those who make settlements with the BP plc $20 billion escrow fund may have to waive the right to sue later.
- New York Times: People magazine subscribers will get free access to content on the Apple Inc (NASDAQ: AAPL) iPad.
- New York Times: Cymbalta, a drug made by Eli Lilly (NYSE: LLY) can now be used for pain treatment.
- Bloomberg: Honda Motor (NYSE: HMC) plants in the US are helping cut its problems with sales hurt by the yen.
These are this Friday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Celestica Inc. (NYSE: CLS) Raised to Outperform at Scotia.
- Corning Inc. (NYSE: GLW) Cut to Hold at Jefferies.
- Equifax Inc. (NYSE: EFX) Started as Market Perform at Wells Fargo.
- First Niagara Financial Group Inc. (NASDAQ: FNFG) Cut to Neutral at Janney (late yesterday call).
- Intuit Inc. (NASDAQ: INTU) Maintain Outperform and Raised target to $45 at Oppenheimer.
- McAfee Inc. (NYSE: MFE) Cut to Market Perform at FBR.
- Melco Crown PBL (NASDAQ: MPEL) Started as Neutral at BofA/Merrill Lynch.
- Research in Motion Ltd. (NASDAQ: RIMM) Cut to Underweight at Morgan Stanley.
- Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) Reiterated Buy and Raised Target at Auriga.