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 07/14/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Bloomberg: Germany may benefit from bailing out weak neighbors.
- Bloomberg: Goldman Sachs showed the SEC that it gets good returns for IPO clients.
- Bloomberg: Seventy percent of Americans think the country is still in a recession. Many believe that the nation is in a fight over increasing employment and decreasing the budget deficit.
- The New York Times: U.S. retail sales fell in June for the second straight month.
- The New York Times: Federal appeals court struck down FCC policy, holding that barring the use of "fleeting expletives" was a violations of the Free Speech
- The New York Times: The Wall Street Reform Bill should pass by the end of the week
- The New York Times: Based on increase in imports, U.S. trade deficit grew to largest in two years.
- Reuters: Citing demand, Intel (NYSE: INTC) posted stronger than expected earnings.
- Reuters: Toyota Motor (NYSE: TM) blamed driver error for some problems with recalled cars.
- Reuters: GlaxoSmithKline (NYSE: GSK) will settle claims over Avandia effects for $400 million just as the FDA votes on whether to withdraw the drug.
- Reuters: Apple Inc’s (NASDAQ: AAPL) stock dropped over concerns about the iPhone 4.
- Reuters: Ebay (NASDAQ: EBAY) was served with a patent suit from its PayPal unit.
- Reuters: Nokia (NYSE: NOK) stock down on rumors that it may buy Motorola’s (NYSE: MOT) telecom equipment unit.
These are this Wednesday's top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
- Allstate Corp. (NYSE: ALL) Started as Perform at Oppenheimer.
- American Superconductor Corp. (NASDAQ: AMSC) Started as Buy at Jefferies
- Boston Scientific Corp. (NYSE: BSX) Started as Perform at Oppenheimer.
- Itron Inc. (NASDAQ: ITRI) Started as Buy at Jefferies.
- JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Started as Buy at Jefferies.
- KB Home (NYSE: KBH) Raised to Buy at Stifel Nicolaus; Goldman Sachs maintains Neutral at cut target to $13.
- Medtronic, Inc. (NYSE: MDT) Started as Outperform at Oppenheimer.
- ProLogis (NYSE: PLD) Started as Outperform at FBR.
- Sherwin-Williams Co. (NYSE: SHW) Cut to Sell at Goldman Sachs.