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 08/06/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: Romer left her job as a top Obama economic adviser.
- Reuters: BP plc (NYSE: BP) has cemented its leak in advance of a permanent plug.
- Reuters: Saudi Arabia continued talks with Research In Motion (NASDAQ: RIMM) about a ban of the BlackBerry in that country.
- Reuters: Wheat hit a 23-month high as Russia banned exports.
- Reuters: Oil moved above $82.
- Reuters: GM is working on an IPO but it is not ready.
- Reuters: China’s CNOOC may bid for BP’s Argentine assets.
- New York Times: GM would like the US to sell all its shares in an IPO.
- New York Times: Jean-Claude Trichet, head of the ECB, is more optimistic about Europe.
- Bloomberg: The US and Canada are helping RIM to avoid bans in the Middle East.
These are this Friday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Aeropostale, Inc. (NYSE: ARO) Cut to Market Perform at Wells Fargo.
- American Eagle Outfitters, Inc. (NYSE: AEO) Cut to Market Perform at Wells Fargo.
- American Public Education, Inc. (NASDAQ: APEI) Cut to Market Perform at BMO.
- American States Water Company (NYSE: AWR) Cut to Hold at Brean Murray.
- Autodesk Inc. (NASDAQ: ADSK) Cut to Hold at Jefferies.
- Career Education (NASDAQ: CECO) Cut to Market Perform at BMO.
- Corinthian Colleges, Inc. (NASDAQ: COCO) Cut to Market Perform at BMO.
- Devry, Inc. (NYSE: DV) Cut to Market Perform at BMO.
- Kulicke & Soffa Industries Inc. (NASDAQ: KLIC) Cut to Underperform at BofA/Merrill Lynch.
- Rio Tinto plc (NYSE: RTP) Raised to Outperform at BNP Paribas.
- Transocean Ltd. (NYSE: RIG) Cut to Underweight at JPMorgan.