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 6/29/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
Reuters: Delay looms as Wall St. bill seen "too big to fail." The financial reform bill may be delayed until mid-July.
Reuters: Baidu Inc (NASDAQ: BIDU) will hire US engineers to work in China.
The Wall Street Journal: Two New Studies Cite Heart Risk in Glaxo's Avandia. GlaxoSmithKline’s (NYSE: GSK) Avandia has come under more attacks for creating increased risk of stroke, heart failure and even death.
The Wall Street Journal: Dubai Jet Order Is at Risk. Dubai’s air service may cancel large numbers of Airbus and Boeing (NYSE: BA) orders.
The New York Times: In Faulty-Computer Suit, Window to Dell Decline. Dell Computer (NASDAQ: DELL) shipped computers that it knew had problems in from 2003 to 2005. http://www.nytimes.com/2010/06/29/technology/29dell.html
The New York Times: Justices Take Broad View of Business Method Patents. Uphold patent offices ruling denying patent for a system that institutions like schools could use to hedge the seasonal risks of buying energy.
Bloomberg: Tesla reportedly raises $226 million with IPO of 13.3M shares.
Bloomberg: Volcker Rule May Give Goldman, Citigroup Until 2022 to comply.
24/7 Wall St.: Goldman Sachs advises in research call this morning that Berkshire Hathaway, Inc. (NYSE: BRK-A, BRK-B) is a buy at its current stock price. http://247wallst.com/2010/06/29/goldman-sachs-says-to-buy-berkshire-hathaway-brk-a-brk-b/
These are this Tuesday’s top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Athenahealth, Inc. (NASDAQ: ATHN) Started as Neutral at JPMorgan.
- Started as Neutral at Goldman Sachs
- CenterPoint Energy, Inc. (NYSE: CNP) Started as Overweight at JPMorgan
- Covidien plc (NYSE: COV) Cut to Neutral at Goldman Sachs
- Potash Corp. of Saskatchewan (NYSE: POT) target cut at Scotia Capital
- ReachLocal, Inc. (NASDAQ: RLOC) Started as Buy at Citigroup; Started as Overweight at JPMorgan
- Time Warner Inc. (NYSE: TWX) Cut to Neutral at Goldman Sachs
- U.S. Bancorp (NYSE: USB) Raised to Buy at UBS
- Vodafone plc (NYSE: VOD) Cut to Neutral at Credit Suisse.
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