U.S. Stocks Set to Open Lower

U.S. Stocks Set to Open Lower. U.S. stock futures are currently lower as traders increase their concern that the Federal Reserve may end their stimulus program earlier than expected.  If the market closes lower today it would be the third straight day the market has posted losses. Wall Street concerns amplified on Monday as stronger-than-expected data on manufacturing and construction spending were reported. Wall Street is now looking for an announcement in March that the Fed may lean towards scaling back its stimulus of $85 billion in monthly bond purchases.

Upgrades:

Apple (AAPL): UBS raised their rating from Neutral to Buy and raised their target price from $540.00 to $650.00.

Devon Energy (DVN): Argus raised their rating from Hold to Buy. Pre-market: 60.93 +0.39 (0.64%)

Flir Systems (FLIR): CRT Capital raised their rating from Fair Value to Buy and placed a target price of $37.00 on the company.

Forest Labs (FRX): SunTrust raised their rating from Neutral to Buy and raised their target price from $50.00 to $72.00.

Downgrades:

Spectra Energy (SE): Tudor Pickering lowered their rating from Accumulate to Hold.

Walt Disney (DIS): B. Riley lowered their rating from Buy to Neutral and maintained a target price of $73.00. Pre-market: 70.46 -0.45 (-0.63%)

Coverage Initiated:

Micron Tech (MU): Needham initiated coverage with a Buy rating and target price of $30.00. Pre-market: 21.38 +0.11 (0.52%)

Earning Reports:

Bank of Montreal (BMO): Reported EPS of $1.64 beating estimates by $0.06.

Krispy Kreme (KKD): Reported EPS of $0.16 beating estimates by $0.01. Pre-market: 20.86 -3.69 (-15.03%)

Thor Industries (THO): Reported EPS of $0.68 missing estimates by -$0.02.

Markets: 
Futures at 8:19: Dow -0.39%. S&P -0.28%. Nasdaq -0.11%. Crude +0.16% to $93.97. Gold -0.05% to $1221.40. U.S. 10 Year +7/32 2.772%.

Europe: London -0.71%. Paris -1.83%. Frankfurt -1.33%. 

Asia: Japan +0.60% to 15750. Hong Kong -0.53% to 23910. China +0.69% to 2223. India -0.21% to 20855. 

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