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 08/04/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- MarketWatch: Toyota Motor (NYSE: TM) upped its full-year forecast.
- Reuters: BP plc (NYSE: BP) began the “static kill” of its well in the Gulf.
- Reuters: Japan is worried because the yen is at a 15-year high.
- Reuters: European banks are profiting as bad loans drop.
- Reuters: Barnes & Noble (NYSE: BKS) is up for sale.
- Reuters: Oil fell as US stocks of crude rose.
- Reuters: Research In Motion (NASDAQ: RIMM) released a new phone to compete with the Apple Inc. (NASDAQ: AAPL) iPhone.
- Reuters: Motorola Inc. (NYSE: MOT) and Verizon Communications (NYSE: VZ) will build a tablet PC to rival the Apple iPad. The unit will use Google Inc.’s (NASDAQ: GOOG) Android OSReuters: Sharp will launch a 3D handset.
- Reuters: Continental Air (NYSE: CAL) and UAL (NASDAQ: UAUA) will release more information on their merger talks.
- New York Times: About three-quarters of the Gulf oil spill is already dissipating.
- New York Times: A National League of Cities survey shows more cities are cutting pay instead of laying off workers.
- New York Times: Germany is experiencing a broad recovery.
- Bloomberg: Facebook says its largest advertisers are increasing their investments by 1000%
These are this Wednesday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- American Electric Power Co., Inc. (NYSE: AEP) Cut to Neutral at Goldman Sachs.
- Barnes & Noble, Inc. (NYSE: BKS) Raised to Neutral at Goldman Sachs.
- BP plc (NYSE: BP) Started at Market Perform at Bernstein; Reiterated Overweight at JPMorgan.
- Caterpillar Inc. (NYSE: CAT) Started as Outperform at Raymond James.
- The Dow Chemical Company (NYSE: DOW) Cut to Neutral at Goldman Sachs.
- Eli Lilly & Co. (NYSE: LLY) Cut to Hold at Jefferies.
- First Energy Corp. (NYSE: FE) Cut to Market Perform at FBR.
- Leap Wireless International Inc. (NASDAQ: LEAP) Raised to Buy at Auriga; Cut to Neutral at SunTrust.
- MetLife, Inc. (NYSE: MET) Raised to Buy at BofA/Merrill Lynch.
- priceline.com Inc. (NASDAQ: PCLN) Raised to Buy at Stifel Nicolaus.
- Sequenom Inc. (NASDAQ: SQNM) Raised to Buy at Soleil.