The Fly On The Wall Market Snapshot: Feb 4, 2010

At this hour, US equity futures are down. Overseas, the Asian markets declined , while the European markets are lower. Today's UPGRADES include: Visa (V) upgraded to Overweight from Equal Weight at Barclays. MetLife (MET) upgraded to Outperform from Market Perform at Keefe Bruyette. AOL (AOL) upgraded to Neutral from Sell at Merriman. DOWNGRADES are Monster Worldwide (MWW) downgraded to Sell from Hold at Deutsche Bank. Western Union (WU) downgraded to Neutral from Buy at BofA/Merrill. Acorda Therapeutics (ACOR) downgraded to Neutral from Outperform at RW Baird. Hot News: Monster Worldwide (MWW) announced it entered into a definitive agreement to acquire the assets of Yahoo! HotJobs, a leading online recruitment website, for $225M in cash. Cisco (CSCO) CEO John Chambers said, QUOTE "Our outstanding Q2 results exceeded our expectations and we believe they provide a clear indication that we are entering the second phase of the economic recovery..."ENDQUOTE Inverness Medical Innovations (IMA) has entered into a binding agreement with Kroll, a subsidiary of Marsh and McLennan (MMC) to purchase its substance abuse testing division. The purchase price is $110M cash subject to a customary working capital adjustment. It's expected to close in 1Q10. Nicor (GAS) announced that the Illinois Commerce Commission approved a rate adjustment mechanism on February 2 for bad debt expense that was filed for in 2009 by the companys gas distribution business, Nicor Gas.



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