24/7 Wall St. Daily 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 09/16/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: Japan says it is ready to move into the forex market to support the yen.
- Reuters: George Soros says that China was the big winner coming out of the recession.
- Reuters: The Senate could pass the small business bill this week.
- Reuters: The Department of Justice dropped charges against a former Merrill broker in an Enron case.
- Reuters: Microsoft (NASDAQ: MSFT) “Halo Reach” hit $200 million in sales during the first day.
- Reuters: Microsoft released a new version of its web browser.
- Reuters: Yahoo! (NASDAQ: YHOO) said it will not sell its stake in Alibaba.
- Reuters: Potash (NYSE: POT) has begun work on a China-lead buyout to top the bid of BHP Billiton (NYSE: BHP).
- New York Times: The payout from the BP escrow fund has been slow.
- New York Times: Geithner will testify that China has kept the value of the yuan at levels to improve trade.
- New York Times: China has begun to move from low-cost factories as it builds a middle class.
- Bloomberg: Fiat and Ford (NYSE: F) both had drops in sales as Europe vehicle sales fell for a fifth month.
- Bloomberg: Shares in Berkshire Hathaway (NYSE: BRK.B) hit their highest level since 2008.
- Bloomberg: Nokia (NYSE: NOK) investors were not impressed with the firm’s new smartphones.
- Barclays raised Ford (NYSE: F) to “overweight” from “equal weight” with a $16 target.
- Credit Suisse upgraded NetFlix (NASDAQ: NFLX) to “neutral” from “underperform.”
- Morgan Stanley downgraded BT Group from “overweight” to “equal weight.”
- Oppenheimer cut Savient Pharma (NASDAQ: SVNT) to “perform.”
- Idex (NYSE: IDEX) upgraded to “outperform” at RW Baird.
- Lear (NYSE: LEA) downgraded to “equal weight” by Barclays.
- Citigroup downgraded Nokia (NYSE: NOK) to “sell” from “hold.”