24/7 Wall St. Pre-Market Roundup
Every morning, 24/7 Wall St. editors cover the news to identify important events and market-moving stories.
The following are the highlights for our Media Digest 6/23/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
Reuters: Auto dealers win while banks lose in Wall Street bill. Auto dealers with financing operations will not be subject to new financial regulations.
Reuters: The FCC gives AT&T Inc. (NYSE: T) permission to buy assets from Verizon Communications Inc. (NYSE: VZ).
Wall Street Journal: Bank Tax Gains Ahead of G-20. The plan for a bank tax to cover future financial meltdowns is gaining momentum among G20 nations.
Wall Street Journal: Cities Grow as Housing Bust Slows Movement to Suburbs. The recession has kept people in cities according to the Census Bureau.
New York Times: Banks have paid back 75% of the government’s investment, according to Geithner’s testimony to the Congressional Oversight Panel
The Twitter-24/7 Wall St. Stock Market Report 6.23.2010:
Among the most tweeted stocks on market aggregator Top Stock Tweets are EURUSD, AUDUSD, GBPUSD, USDJPY, BP plc (NYSE: BP), Microsoft Corporation (NASDAQ: MSFT), Goldman Sachs Group (NYSE: GS), Adobe Systems, Inc (NASDAQ: ADBE), and Amazon.com Inc. (NASDAQ: AMZN).
The following are the Top Analyst calls, including upgrades, downgrades and initiations in Wall Street research notes:
- Cablevision Systems Corporation (NYSE: CVC) Started as Overweight at JPMorgan
- Dr. Pepper Snapple Group, Inc. (NYSE: DPS) Cut to Neutral at UBS
- Diodes, Inc. (NASDAQ: DIOD) Cut to Hold at Collins Stewart
- Dreamworks Animation SKG (NASDAQ: DWA) Raised to Buy at Stifel Nicolaus
- JinkoSolar Holding Co., Ltd. (NYSE: JKS) Started as Outperform at Oppenheimer
- Lululemon Athletica (NASDAQ: LULU) Started as Neutral at Baird
- Monster Worldwide Inc. (NYSE: MWW) Raised to Outperform at Oppenheimer
- ON Semiconductor Corp. (NASDAQ: ONNN) Cut to Hold at Collins Stewart.
Finally, here are today's market rumors:
- Video site Hulu is in talks to carry content from CBS Corp. (NYSE: CBS), Viacom Inc (NYSE: VIA), and Time Warner Inc. (NYSE: TWX), according to Bloomberg.
- Lloyd Blanfein of Goldman Sachs Group may appear on Oprah. (NYPost)