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 07/29/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: The Fed Beige Book says some regions see economic slowing.
- Reuters: The China People’s Daily ran an editorial which encourages the US to take account of China’s rising power.
- Reuters: Amazon.com (NASDAQ: AMZN) launched a $130 Kindle.
- Reuters: Research In Motion (NASDAQ: RIMM) stock moved up as it readied a new device.Reuters: California Pizza Kitchen (OTC: CPKI) got bids from PE firms.
- Reuters: Avis (NYSE: CAR) has topped Hertz (NYSE: HTZ) in a bid to buy Dollar Thrifty for $1.33 billion.
- Reuters: Sanofi-Aventis will make a formal bid for Genzyme.
- The New York Times: Russia will sell stakes in state-owned companies to raise money for its treasury.
- The New York Times: Microlending is increasing as banks withdraw credit.
These are this Thursday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Advanced Micro Devices Inc. (NYSE: AMD) Cut to Market Perform at FBR.
- Arch Coal Inc. (NYSE: ACI) Raised to Outperform at Macquarie.
- Citrix Systems, Inc. (NASDAQ: CTXS) Raised to Outperform at Baird.
- Equinix, Inc. (NASDAQ: EQIX) Raised to Outperform at Oppenheimer.
- JDS Uniphase Corporation (NASDAQ: JDSU) Raised to Buy at S&P Equity Research (late Wednesday call).
- NVIDIA Corp. (NASDAQ: NVDA) Cut to Market Perform at FBR.
- Frontier Oil (NYSE: FTO) Cut to Neutral at Macquarie.
- Southern Co. (NYSE: SO) Cut to Hold at Soleil.
- Symantec Corporation (NASDAQ: SYMC) Cut to Market Perform at FBR; Cut to Market Perform at Morgan Keegan.