U.S. Banks Must Raise Capital

U.S. Banks Must Raise Capital. The eight largest banks in the U.S. have to hold an additional $68B in capital to absorb future losses. U.S. regulators voted to raise the "leverage ratio" to 5-6% of their total assets which is above Basel III standard of 3%. The banks affected include Bank of America (BAC), Bank of New York Mellon (BK), Citigroup (C),  Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), State Street (ST), Wells Fargo (WFC). The banks will have until January 1, 2018 to comply.

Upgrades:

Alcoa (AA): Deutsche Bank raised their rating from Sell to Hold and placed a target price of $10.00 on the company. Pre-market: 13.01 +0.48 (3.83%)

Berkshire Hathaway (BRK.B): The ReasearchTeam raised their rating from Hold to Accumulate. Pre-market: 123.69 +0.56 (0.45%)

Nike (NKE): Stifel raised their rating from Hold to Buy and placed a target price of $87.00 on the company.

Downgrades:

Apache Corp. (APA): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $91.00 on the company. Pre-market: 84.70 -0.48 (-0.56%)

Arris Group (ARRS): The Street.com lowered their rating from Buy to Hold.

Credit Suisse (CS): JPMorgan lowered their rating from Neutral to Underweight. Pre-market: 32.27 -0.01 (-0.03%)

Cisco Systems (CSCO): Wunderlich lowered their rating from Buy to Hold and lowered their target price from $25.00 to $24.00.

The Hershey Comp. (HSY): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $70.00 on the company. Pre-market: 99.37 -2.35 (-2.31%)

Royal Caribbean (RCL): Pareto lowered their rating from Buy to Hold.

Coverage Initiated:

Ball Corp. (BLL): Credit Suisse initiated coverage with a Neutral rating and target price of $59.00.

Cabela’s (CAB): Credit Suisse initiated coverage with a Neutral rating and target price of $71.00.

CBS Corp. (CBS): JPMorgan initiated coverage with an Overweight rating.

General Motors (GM): JPMorgan initiated coverage with an Underweight rating and target price of $33.00. Pre-market: 33.94 -0.59 (-1.71%)

International Paper (IP): Credit Suisse initiated coverage with an Outperform rating and target price of $67.00.

Intuitive Surgical (ISRG): Sterne Agee initiated coverage with an Underperform rating and target price of $440.00. Pre-market: 438.76 -51.08 (-10.43%)

Kellogg Comp. (K): Nomura initiated coverage with a Buy rating and target price of $70.00.

Earning Reports:

Alcoa (AA): Reported EPS of $0.09 beating estimates by +$0.04. Pre-market: 13.01 +0.48 (3.83%)

Constellation Brands (STZ): Reported EPS of $0.81 beating estimates by +$0.05. Pre-market: 84.75 +3.27 (4.01%)

Progressive (PGR): Reported EPS of $0.54 beating estimates by +$0.15. Pre-market: 24.86 +0.70 (2.90%)

WD-40 (WDFC): Reported EPS of $0.67 missing estimates by -$0.01.

Markets: 
Futures at 8:41: Dow +0.35%. S&P +0.27%. Nasdaq +0.43%. Crude +0.13% to $102.69. Gold -0.37% to $1304.00. U.S. 10 Year -6/32 to 2.705%.

Europe: London +0.8%. Paris +0.4%. Frankfurt +0.4%. 

Asia: Japan -2.1% to 14300. Hong Kong +1.1% to 22843. China +0.3% to 2105. India +1.6% to 22702. 

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Overseas Business Activity Slows

Overseas Business Activity Slows. Business activities in both China and the Eurozone are continuing to slow. For the fifth straight month in China, the flash manufacturing PMI fell to 48.1 in March from 48.5 in February and missing economist estimates of 48.7. In the Eurozone the flash composite PMI fell to 53.2 from 53.3 in February but topped economist consensus of 52.6. The latest PMI survey signals a 0.5% increase in Q1 GDP after growth of 0.3% in Q4.

Upgrades:

Boston Scientific (BSX): Bernstein raised their rating from Market Perform to Outperform and raised their target price from $12.00 to $15.00. Pre-market: 13.07 +0.25 (1.95%)

Ensco PLC (ESV): ResearchTeam raised their rating from Reduce to Hold.

Ross Stores (ROST): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $79.00 to $81.00. Pre-market: 74.40 +1.43 (1.96%)

United Continental Holdings (UAL): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $52.00 on the company. Pre-market: 45.02 +0.69 (1.56%)

US Bancorp (USB): Atlantic Equities raised their rating from Underweight to Neutral. Pre-market: 43.08 +0.06 (0.14%)

VMware (VMW): Sterne Agee raised their rating from Neutral to Buy. Pre-market: 110.33 +1.12 (1.03%)

Wells Fargo (WFC): Atlantic Equities raised their rating from Underweight to Neutral. Pre-market: 49.50 +0.38 (0.77%)

Yelp (YELP): JMP Securities raised their rating from Market Perform to Outperform and placed a target price of $113.00 on the company. Pre-market: 86.00 +2.57 (3.08%)

Downgrades:

Abbott (ABT): ResearchTeam lowered their rating from Hold to Reduce.

AFLAC (AFL): ResearchTeam lowered their rating from Hold to Reduce.

Bank of America (BAC): Alantic Equities lowered their rating from Overweight to Neutral and lowered their target price from $20.00 to $18.50. Pre-market: 45.02 +0.69 (1.56%)

National Oilwell (NOV): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 74.58 +0.11 (0.15%)

Nike (NKE): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 75.49 +0.28 (0.37%)

Tiffany & Co. (TIF): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $101.00 to $100.00. Pre-market: 89.11 -1.62 (-1.79%)

Coverage Initiated:

T-Mobile (TMUS): Evercore initiated coverage with an Equal Weight rating and target price of $34.00.

Markets: 
Futures at 8:34: Dow +0.20%. S&P +0.26%. Nasdaq +0.31%. Crude +0.52% to $99.98. Gold -0.97% to $1323.10. U.S. 10 Year -6/32 to 2.768%.

Europe: London -0.13%. Paris -0.20%. Frankfurt -0.23%. 

Asia: Japan +1.77% to 14475.3. Hong Kong +1.91% to 21846. China +0.91% to 2066. India +1.38% to 22055. 

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Bank of America Faces More Lawsuits

Bank of America Faces More Lawsuits. Bank of America (BAC) is again being investigated by the U.S. Attorney’s Office with regards to the Federal Housing Administration's direct endorsement program. This is occurring while authorities in North America, Europe and Asia are probing BofA's conduct and practices in forex markets. The troubled banks potential litigation liabilities now stand at $6.1B versus just a year ago when it stood at $3.1B. Pre-market: 16.37 +0.03 (0.18%)

Upgrades:

Kroger (KR): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $38.00 to $46.00.

LinkedIn (LNKD): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $225.00 to $250.00. Pre-market: 216.60 +6.76 (3.22%)

Masco (MAS): KeyBanc raised their rating from Underweight to Hold. Pre-market: 22.99 +0.29 (1.28%)

Downgrades:

DreamWorks Animation (DWA): Piper Jaffray lowered their rating from Neutral to Underweight. Pre-market: 30.73 -4.47 (-12.70%)

Humana (HUM): Citigroup lowered their rating from Neutral to Sell.

Newmont Mining (NEM): Argus lowered their rating from Buy to Hold. Pre-market: 23.43 -0.32 (-1.35%)

Safeway (SWY): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $41.00 to $40.00. Pre-market: 37.00 -0.13 (-0.35%)

Toll Brothers (TOLL): Keefe Bruyette lowered their rating from Outperform to Market Perform and lowered their target price from $42.00 to $40.00.

Coverage Initiated:

La Jolla Pharmaceutical (LJPC): Wedbush initiated coverage with an Outperform rating and target price of $27.00. Pre-market: 9.54 +1.94 (25.53%)

Earning Reports:

Abercrombie & Fitch (ANF): Reported EPS of $1.34 beating estimates by +$0.29. Pre-market: 37.90 +1.91 (5.31%)

Dollar Tree (DLTR): Reported EPS of $1.02 beating estimates by +$0.04. Pre-market: 50.55 -2.13 (-4.04%)

DreamWorks Animation (DWA): Reported EPS of $0.20 missing estimates by -$0.20. Pre-market: 30.73 -4.47 (-12.70%)

Dycom (DY): Reported EPS of -$0.09 in-line with estimates.

Lowe’s (LOW): Reported EPS of $0.31 in-line with estimates. Pre-market: 49.73 +1.62 (3.37%)

Royal Bank of Canada (RY): Reported EPS of $1.44 missing estimates by -$0.01.

SodaStream (SODA): Reported EPS of $0.16 beating estimates by +$0.02. Pre-market: 39.78 +0.70 (1.79%)

Target (TGT): Reported EPS of $0.81 in-line with estimates. Pre-market: 57.31 +0.80 (1.42%)

TASER (TASR): Reported EPS of $0.13 beating estimates by +$0.05. Pre-market: 20.50 +1.40 (7.33%)

Markets: 
Futures at 8:18: Dow +0.07%. S&P +0.09%. Nasdaq +0.10%. Crude +0.55% to $102.39. Gold -0.79% to $1332.20. U.S. 10 Year -3/32 to 2.713%.

Europe: London -0.46%. Paris -0.51%. Frankfurt -0.45%. 

Asia: Japan -0.54% to 14971. Hong Kong +0.54% to 22437. China +0.35% to 2041. India +0.65% to 20987. 

#TopWealthManager #RLPaler #WallStreet #AnalystsRatings #EarningReports #FinancialPlanning 

Bank of America Being Investigated Again. Once again Bank of America seems to be in trouble with regulators.  This time reports say that the Department of Justice and the Commodity Futures Trading Commission are investigating Bank of America (BAC) for improper trading. The allegations are that the bank improperly carried out its own transactions before executing orders for clients. The probes appear to shed light on an The investigation could pertain to an FBI bulletin that said it suspected traders at two banks of conspiring to manipulate rates on major orders from Fannie Mae (FNMA) and Freddie Mac (FMCC), and of front running the GSE’s in the markets for interest-rate swaps.

Upgrades:

AGL Resources (GAS): ResearchTeam raised their rating from Reduce to Hold.

Potash (POT): Raymond James raised their rating from Market Perform to Outperform and raised their target price from $30.00 $37.00.

Downgrades:

Cisco Systems (CSCO): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $21.00 to $17.00.

ConocoPhillips (COP): Guggenheim lowered their rating from Buy to Neutral and lowered their target price from $80.00 to $73.00.

Coverage Initiated:

AMC Entertainment (AMC): B. Riley initiated coverage with a Neutral rating and target price of $24.00.

AMC Entertainment (AMC): Stifel initiated coverage with a Buy rating and target price of $24.00.

AMC Entertainment (AMC): Credit Suisse initiated coverage with an Outperform rating and target price of $25.00.

Cabelvision (CVC): Buckingham initiated coverage with a Neutral rating and target price of $18.00.

DIRECTV (DTV): Buckingham initiated coverage with a Buy rating and target price of $85.00.

Dish Network (DISH): Buckingham initiated coverage with a Neutral rating and target price of $60.00.

Finish Line (FINL): initiated coverage with a Neutral rating and target price of $28.00.

Foot Locker (FL): JPMorgan initiated coverage with an Overweight rating and target price of $47.00.

Earning Reports:

Caterpillar (CAT): Reported EPS of $1.54 beating estimates by +$0.36.

Rayonier (RYN): Reported EPS of $0.64 beating estimates by +$0.13.

Regis (RGS): Reported EPS of -$0.04 missing estimates by -$0.06.

Royal Caribbean (RCL): Reported EPS of $0.23 beating estimates by +$0.05.

Markets: 
Futures at 6:20: Dow 0.0%. S&P +0.2%. Nasdaq +0.1%. Crude +0.2% to $96.79. Gold +0.4% to $1269.10. 

Europe:London -1.5%. Paris -0.3%. Frankfurt -0.5%. 

Asia: Japan -2.5% to 15006. Hong Kong -2.1% to 21976. China -1% to 2033. India -2% to 20707. 

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World Economic Growth Accelerating

World Economic Growth Accelerating. The World Bank announced that they expect global economic growth to accelerate to 3.2% in 2014 from 2.4% in 2013. The banks Global Economic Prospects report forecast that the U.S. economy will expand by 2.8% from 1.8% and goes on to say that the worlds advanced economies seem "to be finally turning the corner" following the financial crisis.

Upgrades:

Dick’s Sporting Goods (DKS): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $56.00 to $65.00.

Intel (INTC): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $21.00 to $31.00. Pre-market: 26.75 +0.24 (0.91%)

Western Digital (WDC): Pacific Crest raised their rating from Sector Perform to Outperform and placed a target price of $105.00 on the company. Pre-market: 88.70 +0.81 (0.92%)

Downgrades:

Airgas (ARG): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $101.00 on the company.

Cirrus Logic (CRUS): Pacific Crest lowered their rating from Sector Perform to Underperform and placed a target price of $14.00 on the company. Pre-market: 19.30 -0.80 (-3.98%)

Dollar General (DG): S&P lowered their rating from 4 Stars to 2 Stars.

PETsMART (PETM): UBS lowered their rating from Buy to Neutral and lowered their target price from $82.00 to $72.00. Pre-market: 65.88 -1.22 (-1.82%)

Unilever (UN/UL): JPMorgan lowered their rating from Neutral to Underweight. Pre-market: 38.32 -0.73 (-1.87%) / Pre-market: 39.30 -0.66 (-1.65%)

Coverage Initiated:

FedEx (FDX): Susquehanna initiated coverage with a Neutral rating and target price of $150.00.

Morgan Stanley (MS): Keefe Bruyette initiated coverage with a Market Perform rating and target price of $34.00. Pre-market: 31.48 +0.38 (1.22%)

United Parcel Service (UPS): Susquehanna initiated coverage with a Neutral rating and target price of $107.00.

Earning Reports:

Bank of America (BAC): Reported EPS of $0.29 beating estimates by +$0.03. Pre-market: 17.16 +0.39 (2.33%)

Fastenal (FAST): Reported EPS of $0.33 missing estimates by -$0.01. After Hours: 48.49 +0.28 (0.58%)

Markets: 
Futures at 7:16: Dow +0.23%. S&P +0.20%. Nasdaq +0.34%. Crude +0.55% to $92.10. Gold -0.61% to $1237.80. U.S. 10 Year +1/32 to 2.868%.

Europe: London +0.40%. Paris +0.92%. Frankfurt +1.22%. 

Asia: Japan +2.50% to 15809. Hong Kong +0.49% to 22902. China -0.17% to 2023. India +1.22% to 21289. 

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