'Money bytes' Addresses Challenges of Today's Financial Planner

TORONTO, July 24 (UPI) -- Canada's Toronto Dominion Bank has abandoned its legal fight over its U.S. name with a 12-outlet Massachusetts bank.

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TD Bank Financial Group (TD) offered $8.5 billion to buy Commerce Bancorp Inc. (CBH). Shares of TD plunged $4.03 to $72.91 while Commerce stock eased 11 cents to $39.50.

Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=2994953 for the full story.

(AXL) American Axle traded up after-hours as Cramer said they would benefit from UAW contracts like GM did. (BMC) BMC Software names former SVP at Oracle as head of North American sales. (BRLC) Syntax-Brillian names Li as CEO, Sollitto as Chairman. (C) Citigroup will acquire the remaining stake in Nikko Cordial through a share exchange. (CBH) Commerce Bancorp is being acquired $10.50 cash and 0.4142 shares of TD in total of $8.5 Billion cash and stock merger valued at $42.00 per share before any dilution. (DM) Dolan Media noted as positive post-IPO that has been overlooked or undercovered. (EFJI) EFJ,...

As highlighted in BusinessWeek, and illustrated by the recent acquisition of Anheuser-Busch by InBev, the United States is on sale. The weak stock market and even weaker U.S. dollar are allowing foreign buyers to purchase U.S. companies at discount prices [More...]

Filed under: Earnings reports, Conventions and conferences, Annual meetings, Microsoft (MSFT), Yahoo! (YHOO), Amazon.com (AMZN), General Motors (GM), AT and T (T), Halliburton (HAL), Bank of America (BAC), Hershey Co (HSY), Mattel, Inc (MAT), Wendy's Intl (WEN), United Parcel'B' (UPS), Lockheed Martin (LMT), Delta Air Lines (DAL)

Monday, April 21

• Mattel (NYSE:MAT) to report Q1 earnings; conference call at 8:30am.
• Halliburton (NYSE:HAL) reports Q1 earnings; conference call at 9:00am.
• Bank of America (NYSE:BAC) to report Q1 earnings; conference call at 9:30am.
• Toronto-Dominion (NYSE:TD) t o hold conference call about the acquisition of Commerce Bancorp (CBH) at 11:00am.

Tuesday, April 22

• Wyeth (NYSE:WYE) to report Q1 earnings; conference call at 8:00am.
• The Federal Reserve to host a meeting regarding the Countrywide Financial (NYSE:CFC) takeover by Bank of America at 9:30am.
• AT&T (NYSE:T) to report Q1 earnings; conference call at 10:00am.
• Lockheed Martin (NYSE:LMT) to report Q1 earnings; conference call at 11:00am.
• Yahoo (NASDAQ:YHOO) to report Q1 earnings; conference call at 5:00pm.

Wednesday, April 23

• Biovail (NYSE:BVF) PDUFA date for NDA of BVF-033 for the treatment of depression.
• UPS (NYSE:UPS) to report quarterly earnings; conference call at 8:30am.
• General Motors (NYSE:) to hold conference call on 1Q08 global sales at 9:00am.
• Delta (NYSE:DAL) to report Q1 earnings; conference call at 10:00am.
• Amazon.com (NASDAQ:AMZN) to report Q1 earnings; conference call at 5:00pm.

Thursday, April 24

• Hershey (NYSE:HSY) to report Q1 earnings; conference call at 8:30am.
• Microsoft (NASDAQ:MSFT) to report Q3 earnings; conference call at 5:30pm.

Friday, April 25

• Wendy's (NYSE:WEN) to report Q1 earnings; conference call at 9:00am.

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An increase means people are betting against the stock, a decrease means those who were betting against are getting out of those positions. Notice the short covering in Wells Fargo and Wachovia..

INCREASES- number of shares
Washington Mutual (WM)= +12,483,000
EMC (EMC)= +11,205,000
Target (TGT)= +5,720,000
Pulte Homes (PHM)= +5,392,000
Beazer Homes (BZH)= +5,209,000
Mylan (MYL)= +5,001,000

DECREASES- number of shares
Wells Fargo (WFC)= -9.180,000
Wachovia (WB)= -8,394,000
Commerce Bank (CBH) = -8,002,000
Express Jet (XJT)= -7,409,000
McDonalds (MCD)= -6,569,000

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Filed under: Analyst reports, Analyst upgrades and downgrades, Johnson Controls (JCI)

MOST NOTEWORTHY: Toronto Dominion, Cytec Industries, Ceragon Networks, Micron and Navteq were today's noteworthy downgrades:

• CIBC downgraded shares of Toronto Dominion (NYSE: TD) to Sector Performer from Outperformer following the Commerce Bancorp (NYSE: CBH) acquisition, as they see integration risks and believes the deal will limit the company's ability to buyback stock.
  
• Cytec Industries (NYSE: CYT) was downgraded to Hold from Buy at Jefferies, as they believe near-term risks to demand and margins could bring a better entry point by 1H08. Target lowered to $75 from $79.
  
• Collins Stewart downgraded shares of Ceragon Networks (NASDAQ: CRNT) to Underperform from Buy on valuation and uncertainties surrounding the stock, which include the NEC infringement issue and increased competition.
  
• Micron Technology (NYSE: MU) was downgraded to Accumulate from Buy at ThinkEquity. The firm is cautious on the sustainability of PC related demand and questions component order levels relative to PC sell through.
  
• Banc of America downgraded shares of Navteq Corporation (NYSE: NVT) to Neutral from Buy following Nokia's (NOK) proposed buyout.

OTHER DOWNGRADES:

• JP Morgan downgraded Companhia Vale do Rio Doce (NYSE: RIO) to Neutral from Overweight.
  
• Goldman removed Johnson Controls (NYSE: JCI) from its Conviction Buy List.
  
• Citigroup downgraded GameStop Corp (NYSE: GME) to Hold from Buy.
  
• Friedman Billings downgraded Brookfield Asset Management (NYSE: BAM) to Neutral from Outperform.

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Filed under: Analyst reports, Analyst upgrades and downgrades, Johnson Controls (JCI)

MOST NOTEWORTHY: Toronto Dominion, Cytec Industries, Ceragon Networks, Micron and Navteq were today's noteworthy downgrades:

• CIBC downgraded shares of Toronto Dominion (NYSE: TD) to Sector Performer from Outperformer following the Commerce Bancorp (NYSE: CBH) acquisition, as they see integration risks and believes the deal will limit the company's ability to buyback stock.
  
• Cytec Industries (NYSE: CYT) was downgraded to Hold from Buy at Jefferies, as they believe near-term risks to demand and margins could bring a better entry point by 1H08. Target lowered to $75 from $79.
  
• Collins Stewart downgraded shares of Ceragon Networks (NASDAQ: CRNT) to Underperform from Buy on valuation and uncertainties surrounding the stock, which include the NEC infringement issue and increased competition.
  
• Micron Technology (NYSE: MU) was downgraded to Accumulate from Buy at ThinkEquity. The firm is cautious on the sustainability of PC related demand and questions component order levels relative to PC sell through.
  
• Banc of America downgraded shares of Navteq Corporation (NYSE: NVT) to Neutral from Buy following Nokia's (NOK) proposed buyout.

OTHER DOWNGRADES:

• JP Morgan downgraded Companhia Vale do Rio Doce (NYSE: RIO) to Neutral from Overweight.
  
• Goldman removed Johnson Controls (NYSE: JCI) from its Conviction Buy List.
  
• Citigroup downgraded GameStop Corp (NYSE: GME) to Hold from Buy.
  
• Friedman Billings downgraded Brookfield Asset Management (NYSE: BAM) to Neutral from Outperform.

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Tammy DeRosier and Tom Dorsey discuss these Volatile Times

Back to School... Back to the Markets with Tammy Derosier and Paul Keeton

General Motors, IMPART Media Group, SonicWALL, Alloy, Inc, RadioShack, Seacoast Banking Corp

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