24/7 Wall St. Morning 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 07/23/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: Microsoft Corporation (NASDAQ: MSFT) beat Wall St. expectations, stock doesn't respond.
- Reuters: Apple's white iPhone 4 delayed, following Steve Job's rare press conference to defend the phone's reception issues.
- Reuters: Ratings Agencies threaten Hungary with a downgrade.
- Reuters: India built a $35 laptop.
- Reuters: The CEO of Nokia (NYSE: NOK) said talk about his departure should end.
- The New York Times: The Fed may worry about holding mortgage bonds that could lose their value.
- The New York Times: NY State sues Bank of America (NYSE: BAC) and Merrill over pension losses from the merger.
- The New York Times: Ford Motor Compnay (NYSE: F) announced second quarter profit, expects more cash than debt by the end of 2011. The New York Times: Amazon’s (NASDAQ: AMZN) Profit Rises 45%, but Results Miss Forecast.
- Bloomberg: Goldman Sachs used three counter-parties to hedge against the risk of an American International Group (NYSE: AIG) failure.
- Bloomberg: Stress test will be viewed as successful based more on the details disclosed than the number of failures.
- Bloomberg: Smuggled iPads are about to hit China.
- Bloomberg: Bernanke Says Extending Bush Tax Cuts Would Maintain Stimulus to Economy
These are this Friday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Allergan Inc. (NYSE: AGN) Started as Outperform at Macquarie.
- Athenahealth, Inc. (NASDAQ: ATHN) Raised to Outperform at Baird.
- Baidu, Inc. (NASDAQ: BIDU) Maintained Buy but Target Raised to $90 at Goldman Sachs.
- CryoLife Inc. (NYSE: CRY) Started as Buy at Benchmark.
- Ericsson Telephone Co. (NASDAQ: ERIC) Cut to Strong Sell from Sell at S&P Equity Research (late yesterday call).
- Nokia Corporation (NYSE: NOK) Raised to Buy at Wunderlich.
- Plains All American Pipeline (NYSE: PAA) Cut to Market Perform at Morgan Keegan.
- Rosetta Stone (NYSE: RST) Cut to Hold at Jefferies.
- Travelers Companies (NYSE: TRV) Cut to Perform at Oppenheimer.
Finally, here is the Twitter-24/7 Wall St. Stock Market Report 07/23/2010:
Among the most tweeted stocks on StockTwits are Amazon.com (NASDAQ: AMZN), Netflix (NASDAQ: NFLX), AUDUSD, Goldman Sachs Group (NYSE GS), Baidu Inc (NASDAQ: BIDU), Sandisk (NASDAQ: SNDK), and GBPUSD.