Twitter Begins Trading.

Twitter Begins Trading. Shares of Twitter (TWTR) will begin trading this morning on the NYSE after being priced last night at $26.00. The price was above the already increased $23-$25 range. Twitter raised $1.82B by selling 70M shares and it will have a market cap of $14.2B. CEO Dick Costolo said "There's nothing structural about Twitter that prevents us from having the kind of margin profiles of our peer group." Currently Twitter generates no profits.

Downgrades:

Caterpillar (CAT): ISI Group lowered their rating from Buy to Neutral. Pre-market: 83.91 -0.31 (-0.37%)

Deere & Co (DE): ISI Group lowered their rating from Neutral to Cautious. Pre-market: 81.85 +0.05 (0.06%)

Garmin (GRMN): Bank of America Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $51.00 to $46.00.

Qualcomm (QCOM): Northland Securities lowered their rating from Outperform to Market Perform. Pre-market: 67.32 -2.42 (-3.47%)

United Rentals (UTI): ISI Group lowered their rating from Strong Buy to Buy.

Coverage Initiated:

Twitter (TWTR): Evercore initiated coverage with an Overweight rating and target price of $43.00.

Twitter (TWTR): Cantor initiated coverage with a Buy rating and target price of $32.00.

Earning Reports:

Activision Blizzard (ATVI): Reported EPS of $0.08 beating estimates by +$0.04. Pre-market: 16.10 -0.43 (-2.60%)

Beazer Homes (BZH): Reported EPS of $0.36 beating estimates by +$0.10. Pre-market: 19.00 +0.95 (5.26%)

Calpine (CPN): Reported EPS of $0.70 missing estimates by -$0.09. Pre-market: 20.55 +0.81 (4.10%)

CBS (CBS): Reported EPS of $0.76 in-line with estimates. Pre-market: 59.60 -0.02 (-0.03%)

Chiquita Brands (CQB): Reported EPS of -$0.38 missing estimates by -$0.15.

Huntington Ingalls (HII): Reported EPS of $1.17 beating estimates by +$0.33.

Tim Hortons (THI): Reported EPS of $0.77 in-line with estimates.

TreeHouse Foods (THS): Reported EPS of $0.82 beating estimates by +$0.05.

Qualcomm (QCOM): Reported EPS of $1.05 missing estimates by -$0.03. Pre-market: 67.40 -2.34 (-3.36%)

Transocean (RIG): Reported EPS of $1.37 beating estimates by +$0.30. Pre-market: 51.08 +2.05 (4.18%)

Wendy’s (WEN): Reported EPS of $0.08 beating estimates by +$0.02. Pre-market: 8.14 -0.95 (-10.45%)

Markets: 
Futures at 8:05: Dow +0.35%. S&P +0.40%. Nasdaq +0.25%. Crude +0.03% to $94.83. Gold -0.24% to $1314.60. U.S. 10 Year +4/32 2.628%.

Europe: London +0.40%. Paris +1.36%. Frankfurt +1.28%. 

Asia: Japan -0.76% to 14228. Hong Kong -0.68% to 22881. China -0.48% to 2129. India -0.35% to 20823. 

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