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 07/26/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- MarketWatch: A number of economists now expect Q2 GDP to be below 2%.
- Reuters: BP plc’s (NYSE: BP) CEO Tony Hayward is expected to resign.
- Reuters: Hayward will leave with $18 million.
- Reuters: Europe’s economic prospects are improving as those in the US drop.
- Reuters: Google’s (NASDAQ: GOOG) market share in China is down amid gains by rival Baidu (NASDAQ: BIDU).
- Reuters: Russia plans a $29 billion asset sale.
- The New York Times: Employers are keeping headcount down to keep margins up.
- The New York Times: Biotech firms are exploring whether algae can be used widely as fuel.
- Financial Times: The FCIC may make a huge audit of Goldman Sachs Group (NYSE: GS) derivatives trading documents.
- Bloomberg: EU stress tests may have been an opportunity to strengthen backs, if done properly.
- Bloomberg: Shipping prospects may improve as China needs more ore.
- American Electric Power (NYSE: AEP) Started as Outperform at Wells Fargo.
- Central European Distribution (NASDAQ: CEDC) Started as Outperform at Credit Suisse.
- CBOE Holdings (NASDAQ: CBOE) Started as Market Perform at BMO; Started as Neutral at JPMorgan; Started as Market Perform at KBW; Started as Neutral at UBS.
- Estee Lauder (NYSE: EL) Cut to Underperform at Oppenheimer.
- Intuit (NASDAQ: INTU) Started as Outperform at Cowen & Co.
- Kimberly-Clark (NYSE: KMB) Removed from Conviction Sell List by Goldman Sachs.
- Patterson-UTI Energy (NASDAQ: PTEN) Raised to Buy at Jefferies.
- Sanofi-Aventis (NYSE: SNY) Raised to Buy at Jefferies.
- Schlumberger Ltd. (NYSE: SLB) Cut to Neutral at Capital One; Reiterated Outperform at FBR.
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