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 6/28/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
Wall Street Journal: G-20 Says Growth A Priority, But Action Needed On Deficits. G20 nations say they will cut national deficits in half by 2013.
Wall Street Journal: “Toy Story 3″ was the No.1 box office hit for the weekend.
http://blogs.wsj.com/speakeasy/2010/06/27/toy-story-3-tops-box-office-again/
New York Times: Obama administration seeking to expand broadband availability for commercial use.
Bloomberg: Jobless Produce U.S. Profit on Productivity With Less Inflation. US companies are getting better productivity by using temporary workers who would otherwise be totally unemployed.
24/7 Wall St.: Apple Sells 1.7 Million iPhones In Three Days, Most Successful Product Launch
These are this Monday’s top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Amazon.com Inc. (NASDAQ: AMZN) Cut to Neutral at Susquehanna.
- Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) Raised to Market Perform at BMO.
- Ariba Inc. (NASDAQ: ARBA) Cut to Hold at Roth Capital.
- Halliburton Co. (NYSE: HAL) Raised to Outperform at Macquarie.
- Research in Motion Ltd. (NASDAQ: RIMM) Raised to Outperform at Raymond James.
- Suntech Power Holdings Co. Ltd. (NYSE: STP) Started as Sell at Goldman Sachs.
The following are this morning's day traders and active traders alerts:
Amazon.com, Inc. (NASDAQ: AMZN) is lower after Susquehanna cut its rating on fears of a competitive eReader market. Shares closed at $121.00 Friday, but now the stock is down 1.45% at $119.25 on relatively thin volume of under 120,000 shares.
Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) is up over 10% at $2.92 on over 60,000 shares on relatively small volume based upon weekend analysis and chatter.
Orexigen Therapeutics, Inc. (NASDAQ: OREX) is up after it announced this weekend that Contrave(R) reduced depression scores and body weight in overweight and obese patients with major depression. Shares are up over 5% at $4.37 on over 40,000 sahres.
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