Google to Sell Motorola

Google to Sell Motorola. After buying cell phone manufacturer Motorola two years ago Google (GOOG) is selling it. Lenovo will purchase the smartphone maker for $2.91 billion. In the agreement Google will keep the "vast majority" of Motorola's IP. The sale will also remove a point of contention between other companies that build smatphones using Google’s Android operating system.  (GOOG): Pre-market: 1,135.00 +28.08 (2.54%)

Upgrades:

Baker Hughes (BHI): Argus raised their rating from Hold to Buy and placed a target price of $68.00 on the company. Pre-market: 56.18 +0.37 (0.66%)

Union Pacific (UNP): Atlantic Equities raised their rating from Neutral to Overweight. Pre-market: 173.50 +1.55 (0.90%)

United States Steel (X): Macquarie raised their rating from Neutral to Outperform. Pre-market: 26.00 +0.35 (1.36%)

Downgrades:

ADT (ADT): Oppenheimer lowered their rating from Outperform to Perform. Pre-market: 32.63 -5.18 (-13.70%)

Hess Corp (HES): ISI Group lowered their rating from Buy to Neutral.

Southern Co. (SO): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $45.00 to $43.00. Pre-market: 40.25 -0.64 (-1.57%)

Coverage Initiated:

Clorox (CLX): BTIG initiated coverage with a Buy rating and target price of $100.00. Pre-market: 87.76 +0.68 (0.78%)

Colgate-Palmolive (CL): BTIG initiated coverage with a Buy rating and target price of $72.00. Pre-market: 63.97 +2.38 (3.86%)

DreamWorks Animation (DWA): B. Riley initiated coverage with a Neutral rating and target price of $33.50.

Kimberly-Clark (KMB): BTIG initiated coverage with a Neutral rating and target price of $107.00.

Molson Coors Brewing Co. (TAP): BTIG initiated coverage with a Buy rating and target price of $62.00.

Procter & Gamble (PG): BTIG initiated coverage with a Buy rating and target price of $89.00. Pre-market: 78.05 +0.41 (0.53%)

Earning Reports:

3M (MMM): Reported EPS of $1.62 in-line with estimates. Pre-market: 129.50 -0.75 (-0.58%)

Ball Corp (BLL): Reported EPS of $0.86 beating estimates by +$0.14. Pre-market: 49.85 +0.78 (1.59%)

Cardinal Health (CAH): Reported EPS of $0.90 beating estimates by +$0.06. Pre-market: 69.50 +3.05 (4.59%)

Celgene (CELG): Reported EPS of $1.51missing estimates by -$0.03. Pre-market: 158.59 +0.13 (0.08%)

ConocoPhillips (COP): Reported EPS of $1.40 beating estimates by +$0.07. Pre-market: 66.07 +0.25 (0.38%)

ExxonMobil (XOM): Reported EPS of $1.91missing estimates by -$0.01. Pre-market: 93.70 -1.41 (-1.48%)

Facebook (FB): Reported EPS of $0.31 beating estimates by +$0.04. Pre-market: 63.56 +10.03 (18.74%)

Harley-Davidson (HOG): Reported EPS of $0.34 in-line with estimates.

Hershey Foods (HSY): Reported EPS of $0.86 in-line with estimates.

Potash (POT): Reported EPS of $0.31missing estimates by -$0.02. Pre-market: 30.75 -1.08 (-3.39%)

Qualcomm (QCOM): Reported EPS of 1.26 beating estimates by +$0.08. Pre-market: 72.25 +1.13 (1.59%)

Tenneco (TEN): Reported EPS of $0.96 beating estimates by +$0.12.

Under Armour (UA): Reported EPS of $0.59 beating estimates by +$0.06. Pre-market: 94.88 +9.66 (11.34%)

Viacom (VIAB): Reported EPS of $1.20 beating estimates by +$0.04. Pre-market: 81.00 +0.03 (0.04%)

Visa (V): Reported EPS of $2.20 beating estimates by +$0.04. Pre-market: 223.92 +6.80 (3.13%)

Markets: 
Futures at 8:10: Dow +0.32%. S&P +0.30%. Nasdaq +0.48%. Crude +0.47% to $97.82. Gold -0.63% to $1254.50. U.S. 10 Year +7/32 to 2.709%.

Europe: London -0.36%. Paris -0.39%. Frankfurt -0.39%. 

Asia: Japan -2.45% to 15007. Hong Kong -0.48% to 22035. China +0.56% to 2050. India -0.72% to 20498. 

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