24/7 Wall St. Daily Market Roundup
Each day, 24/7 Wall St. editors cover the news, identifying important events and market-moving stories.
The following are the highlights for our Media Digest 08/18/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: BHP Billiton (NYSE: BHP) has begun an attempt at a hostile deal for Potash (NYSE: POT).
- Reuters: A female contractor of Hewlett-Packard (NYSE: HPQ) said she lost work because she would not have sex with Mark Hurd.
- Reuters: The social agenda of politicians will determine some portion of housing reform.
- Reuters: GM’s IPO has been delayed.
- Reuters: Oil fell on higher than expected reserves,
- Reuters: India will allow the Research In Motion (NASDAQ: RIMM) Blackberry to continue in service beyond an August 31 deadline.
- Reuters: RIM and the United Arab Emirates are close to a Blackberry service agreement.
- Reuters: Reynolds will buy PacTiv the Hefty Bag maker.
- New York Times: China set new rules for bank loans made off the books.
- Bloomberg: GM may sell preferred stock as well as common.
These are this Wednesday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Cisco Systems Inc. (NASDAQ: CSCO) Cut to Underperform at First Global.
- Crucell NV (NASDAQ: CRXL) Cut to Neutral at UBS.
- Illinois Tool Works Inc. (NYSE: ITW) Cut to Neutral at Goldman Sachs.
- Las Vegas Sands Corp. (NYSE: LVS) Target Raised to $22 at Citigroup.
- Netflix, Inc. (NASDAQ: NFLX) Cut to Underperform at Morgan Keegan.
- Potash Corp. of Saskatchewan (NYSE: POT) Target raised to $170 at UBS; Traget Raised to $160 at CIBC; Credit Suisse raised Target to $150.
- Portugal Telecom SA (NYSE: PT) Raised to Neutral at JPMorgan.
- SuperMedia (NASDAQ: SUPM) Cut to Perform at Oppenheimer.
- Weingarten Realty Investors Company (NYSE: WRI) Raised to Outperform at Wells Fargo.
- Xcel Energy Inc. (NYSE: XEL) Started as Neutral at JPMorgan.