IBM product launch suspiciously low key-Globes Online
IBM (IBM) announced the first product of XIV following the acquisition eight months ago. The company issued no press release on the launch but merely mentioned it on its web page about system launches.

Retail: June quarter preview@WEDB
Wedbush expects to see upside to results and or guidance from: Ann Taylor (ANN), Aeropostale (ARO), Gymboree (GYMB) and Children’s Place (PLCE). They expect to see downside to results from: Casual Male (CMRG), Pacific Sunwear (PSUN) and Zumiez (ZUMZ).

American Express-AXP: difficult macro environ to result in high credit cost@FBRC
The time frame for higher-than-anticipated credit costs will be over the next 6-9 months when FBRC expects the stock to decrease from its current levels. Also boding negatively for card issuers are the two consecutive quarters of negative GDP growth, 4Q08 and 1Q09, that is anticipated by FBRC’s Chief Economist. Reiterate $32 price target and Underperform rating.

Research in Motion-RIMM: Checks suggest in-line August quarter@PACS
Based on PacCrest’s checks, August sell-thru for RIMM is not as strong as expected, and the direct to business sales are weaker. However, PacCrest still expects a strong November quarter on new product launches. The shares remain Outperform rated.

Dolby Laboratories-DLB: See slight upside to Sept. Qtr@PIPR
Piper said June quarter CEA data suggests Dolby licensing revenues will be flat to up 5% vs. the firm’s down 4.5% estimate. Shares are Buy rated.

Energy sector downgraded to Neutral from Overweight@JPMS
JP Morgan believes energy fundamentals are solid but expects capital flows to shift toward other sectors like Financials.

SanDisk-SNDK: Recommend selling shares on recent strength@SBSH
Citigroup believes contract pricing is tracking to a 22% drop in Q3 and sees risk to margins and 2009 consensus estimates. The firm maintains a Sell rating.

Focus Media-FMCN: Believe company’s guidance is conservative@OPCO
After Focus Media reported better than expected Q2 results, Oppenheimer thinks the company’s guidance for its fiscal year is conservative, and the firm would buy the stock at its current levels.

Potash-POT added to Top Picks Live List@SBSH
Citigroup believes the recent sell-off is overdone and maintains a Buy rating with a $264 target.

Vertex Pharma-VRTX volatility Flat at 60
VRTX closed at $28.46. Barron’s “VRTX, another company that some investors view as an eventual takeover candidate, is developing Telaprevir, a substance that promises to reduce the time needed to treat hepatitis-C, a potentially fatal liver ailment. Telparevir is currently in stage three testing.” VRTX over all option implied volatility of 60 is near its 26-week average of according to Track Data, suggesting non-directional price fluctuations.

Broker Q3 estimates cut given weak environment@UBSW
UBS cut estimates for C, JPM, GS and MS citing weakness across the board.

Japan’s economic comeback likely to be a long one-WSJ
Japan’s economic downturn isn’t too steep but the recovery time may be long, economists say. Last week the Japanese reported its worst GDP quarter in seven years, according to the Wall Street Journal, contracting at an annualized rate of 2.4%, but there wasn’t one overshadowing issued that caused it.

Google-GOOG: View recent weakness as a buying opportunity@WBLR
William Blair believes shares are attractive at current levels and maintains an Outperform rating

Google-GOOG: Expect benefit from Yahoo deal to be disproportionate@JEFF
Jefferies expects GOOG to benefit disproportionately from its deal with Yahoo (YHOO) given the increased network inventory and its ability to look into Yahoo’s display business.

Omrix $25 a share buyout offer would take them private-Globes
Omrix Biopharmaceuticals (OMRI) is considering a $25 a share buyout offer from a U.S. hedge fund that would take the company private.