Eurozone PMI Rises as China’s Falls

Eurozone PMI Rises as China’s Falls. The Eurozone manufacturing PMI rose to a 32-month high of 54 in January up from a prior reading of 52.7 in December. The data is consistent with GDP growth of just 0.4-0.5% in Q1. While, China's PMI fell to a six-month low of 50.5 in January, down from 51 in December. Non-manufacturing print fell to the lowest level since December 2008, falling to 53.4 from 54.6. This is just the latest indicator showing that China’s economy is slowing.

Upgrades:

Baker Hughes (BHI): ResearchTeam raised their rating from Reduce to Hold.

Goldman Sachs (GS): Guggenheim raised their rating from Neutral to Buy and placed a target price of $200.00 on the company. Pre-market: 165.70 +1.58 (0.96%)

MasterCard (MA): Susquehanna raised their rating from Positive to Neutral and raised their target price from $70.00 to $91.00. Pre-market: 76.15 +0.47 (0.62%)

Microsoft (MSFT): ResearchTeam raised their rating from Reduce to Hold. Pre-market: 37.63 -0.21 (-0.55%)

Northrop Grumman (NOC): Drexel Hamilton raised their rating from Hold to Buy.

Downgrades:

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

Apple (AAPL): ReseachTeam lowered their rating from Hold to Reduce. Pre-market: 503.00 +2.40 (0.48%)

Celgene (CELG): ReseachTeam lowered their rating from Hold to Reduce. Pre-market: 152.19 +0.26 (0.17%)

ENSCO (ESV): Raymond James lowered their rating from Outperform to Market Perform.

International Paper (IP): ResearchTeam lowered their rating from Accumulate to Hold.

Lear Corp. (LEA): CRT Capital lowered their rating from Buy to Fair Value. Pre-market: 72.33 0.00 (0.00%)

Mattel (MAT): Longbow lowered their rating from Buy to Neutral. Pre-market: 37.59 -0.25 (-0.66%)

Mattel (MAT): B. Riley lowered their rating from Buy to Neutral and lowered their target price from $55.00 to $41.00. Pre-market: 37.59 -0.25 (-0.66%)

Mattel (MAT): SunTrust lowered their rating from Buy to Neutral and lowered their target price from $50.00 to $40.00. Pre-market: 37.59 -0.25 (-0.66%)

Noble Corp. (NE): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 30.88 -0.15 (-0.48%)

Praxair (PX): ReseachTeam lowered their rating from Hold to Reduce.

Earning Reports:

Sysco (SYY): Reported EPS of $0.48 in-line with estimates. Pre-market: 35.10 +0.02 (0.06%)

Markets: 
Futures at 8:20: Dow +0.20%. S&P +0.21%. Nasdaq +0.16%. Crude +0.04% to $97.54. Gold +0.56% to $1246.80. U.S. 10 Year -6/32 to 2.672%.

Europe: London -0.43%. Paris -0.34%. Frankfurt -0.71%. 

Asia: Japan -1.98% to 14619, Hong Kong -0.48% to 22035, China +0.56% to 2050. India -0.48% at 20415. 

#RLPaler #WealthManagement #EarningReports #AnalystsRatings #TopWealthManager #PreMarket #WallStreet 

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. 

#RLPaler #WealthManagement #EarningReports #AnalystsRatings #TopWealthManager #PreMarket

Men’s Wearhouse in Hostile Bid for Jos A. Bank.

Men’s Wearhouse in Hostile Bid for Jos A. Bank. Men's Wearhouse (MW) has increased its bid for Jos. A. Bank Clothiers (JOSB) to $57.50 a share. Its earlier offer of $55.00 was rejected by Jos. A. Bank back in November.  (MW) Pre-market: 52.96 +2.37 (4.68%) (JOSB) Pre-market: 57.00 +2.59 (4.76%)

Upgrades:

Boston Scientific (BSX): Oppenheimer raised their rating from Equal Weight to Overweight and placed a target price of $15.00 on the company. Pre-market: 12.15 +0.22 (1.84%)

Celgene (CELG): ResearchTeam raised their rating from Hold to Accumulate. Pre-market: 166.00 -3.81 (-2.24%)

ConocoPhillips (COP): Raymond James raised their rating from Underperform to Market Perform.

Urban Outfitters (URBN): Ascendiant raised their rating from Buy to Strong Buy and placed a target price of $55.00 on the company.

Wynn Resorts (WYNN): Citigroup raised their rating from Neutral to Buy and raised their target price from $167.92 to $222.00. Pre-market: 198.55 +2.55 (1.30%)

Zimmer Holdings (ZMH): Leerink raised their rating from Market Perform to Outperform and raised their target price from $93.00 to $110.00.

Downgrades:

AFLAC (AFL): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $67.00 to $66.00.

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

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

Apple (AAPL): Standpoint Research lowered their rating from Hold to Sell. Pre-market: 537.99 -2.99 (-0.55%)

Celgene (CELG): Goldman Sachs lowered their rating from Neutral to Sell and maintained their target price of $140.00. Pre-market: 166.00 -3.81 (-2.24%)

Devon Energy (DVN): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 60.60 -0.43 (-0.70%)

eBay (EBAY): Morgan Stanley lowered their rating from Overweight to Equal Weight. Pre-market: 52.10 -1.16 (-2.18%)

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

Foot Locker (FL): ResearchTeam lowered their rating from Accumulate to Hold.

Halliburton (HAL): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 50.31 +0.18 (0.36%)

Patterson-UTI Energy (PTEN): Guggenheim lowered their rating from Buy to Neutral.

Total SA (TOT): ResearchTeam lowered their rating from Hold to Reduce.

Twitter (TWTR): CRT Capital lowered their rating from Buy to Fair Value. Pre-market: 65.05 -3.95 (-5.72%)

Wendy’s (WEN): Janney Capital lowered their rating from Buy to Neutral and placed a target price of $9.00 on the company. Pre-market: 8.40 -0.28 (-3.23%)

Coverage Initiated:

Phillip Morris Intl (PM): Standpoint Research initiated coverage with a Sell rating. Pre-market: 86.51 +0.98 (1.14%)

Markets: 
Futures at 7:46: Dow +0.20%. S&P +0.18%. Nasdaq +0.11%. Crude +0.40% to $94.33. Gold -0.07% to $1237.70.  U.S. 10 Year +6/32 to 2.978%.

Europe: London +0.17%. Paris +0.01%. Frankfurt +0.26%. 

Asia: Japan -2.35% to 15909. Hong Kong -0.58% to 22684. China -1.80% to 2046. India -0.31% to 20787. 

#RLPaler #WallStreet #PreMarket #WealthManagement #EarningReports #AnalystsRatings

Government Motors is No Longer

Government Motors is No Longer. The U.S. government has sold its remaining 31.1M shares in General Motors (GM) for $9.2B. Because of the government ownership some had called the company Government Motors. The sale ends restrictions on executive pay and would allow the payment of dividends and share buybacks. The wisdom of the sale at this time is being questioned since the sale netted only $39B from an initial investment of $49.5B. The total loss to U.S. taxpayers will be over $10.5B.

Upgrades:

Broadcom (BRCM): Charter Equity raised their rating from Market Perform to Buy.

Celgene (CELG): Credit Suisse raised their rating from Neutral to Outperform.

Johnson Controls (JCI): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $61.00 on the company.

Royal Bank of Canada (RY): S&P raised their rating from 3 Stars to 4 Stars.

United Rentals (URI): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $85.00 on the company.

Downgrades:

Quest Diagnostics (DGX): Bank of America Merrill Lynch lowered their rating from Buy to Underperform and lowered their target price from $64.00 to $55.00.

Old Dominion Freight (ODLF): Longbow lowered their rating from Buy to Neutral.

Tenneco (TEN): RBC Capital lowered their rating from Top Pick to Outperform and placed a target price of $66.00 on the company.

Tyson Foods (TSN): Miller Tabak lowered their rating from Buy to Hold and lowered their target price from $35.00 to $33.00.

Coverage Initiated:

IMAX (IMAX): Ascendiant Jefferies initiated coverage with a Buy rating and target price of $32.00.

Papa John’s International (PZZA):  Jefferies initiated coverage with a Hold rating and target price of $86.00.

Rambus (RMBS): Jefferies initiated coverage with a Hold rating and target price of $13.00.

olHold rating

Earning Reports:

AutoZone (AZO): Reported EPS of $6.29 beating estimates by +$0.01.

Burlington Stores (BURL): Reported EPS of -$0.05 in-line with estimates.

Toll Brothers (TOL): Reported EPS of $0.54 beating estimates by +$0.10.

Markets: 
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude +1.2% to $98.49. Gold +1% to $1246.30. 

Europe: London +0.1%. Paris +0.1%. Frankfurt +0.2%. 

Asia: Japan -0.3% to 15611. Hong Kong -0.3% to 23744. China -0.02% at 2237. India -0.3% at 21256. 

#RLPaler #WallStreet #PreMarket #WealthManagement #EarningReports #AnalystsRatings

China Bans Banks from Bitcoin

China Bans Banks from Bitcoin. Report says that The People's Bank of China has banned banks from trading in Bitcoin. In a statement officials said that the virtual currency doesn't have "real meaning," and no legal status as a formal currency. While the ban affects banks, Chinese citizens are still free to trade the currency. Currently Bitcoins are trading down -15.8% to $1000 on the news.

Upgrades:

Aeropostale (ARO): KeyBanc raised their rating from Underweight to Neutral. Pre-market: 8.90 -0.46 (-4.91%)

Celgene (CELG): UBS raised their rating from Neutral to Buy and raised their target price from $163.00 to $200.00. Pre-market: 163.25 +3.18 (1.99%)

Jack in the Box (JACK): Wedbush raised their rating from Neutral to Outperform and raised their target price from $50.00 to $60.00. Pre-market: 47.12 +0.64 (1.38%)

Smith &Wesson (SWHC): Lake Street raised their rating from Hold to Buy and raised their target price from $12.00 to $17.00. Pre-market: 11.85 +0.25 (2.16%)

Sprint (S): Nomura raised their rating from Neutral to Buy and raised their target price from $6.00 to $10.50. Pre-market: 8.10 +0.15 (1.89%)

Tiffany & Co (TIF): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $97.00 to $105.00. Pre-market: 90.15 +1.57 (1.77%)

Union Pacific (UNP): Raymond James raised their rating from Outperform to Strong Buy. Pre-market: 163.50 +2.11 (1.31%)

Downgrades:

J.M. Smucker (SJM): Wells Fargo lowered their rating from Market Perform to Underperform. Pre-market: 103.00 -1.75 (-1.67%)

Coverage Initiated:

Boston Scientific (BSX): The Benchmark Co. initiated coverage with a Hold rating and target price of $12.00.

eBay (EBAY): CRT Capital initiated coverage with a Fair Value rating and target price of $58.00. Pre-market: 51.08 -0.01 (-0.02%)

Oracle (ORCL): BMO Capital initiated coverage with an Outperform rating and target price of $42.00.

Raymond James (RJF): Buckingham initiated coverage with a Buy rating and target price of $58.00.

Spirit Aero Systems (SPR): Citigroup initiated coverage with a Buy rating and target price of $39.00. Pre-market: 33.81 +2.17 (6.86%)

Earning Reports:

Aeropostale (ARO): Reported EPS of -$0.29 missing estimates by -$0.06. Pre-market: 8.90 -0.46 (-4.91%)

Dollar General (DG): Reported EPS of $0.72 beating estimates by +$0.02.

Guess? (GES): Reported EPS of $0.42 beating estimates by +$0.05. Pre-market: 34.00 +0.66 (1.98%)

Royal Bank of Canada (RY): Reported EPS of $1.40 beating estimates by +$0.02.

Synopsys (SNPS): Reported EPS of $0.56 beating estimates by +$0.01.

Markets: 
Futures at 7:43: Dow -0.03%. S&P +0.12%. Nasdaq +0.20%. Crude +0.14% to $97.37. Gold -1.32% to $1230.70. U.S. 10 Year -9/32 2.870%.

Europe: London +0.04%. Paris -0.13%. Frankfurt +0.31%. 

Asia: Japan -1.50% to 15177. Hong Kong -0.07% to 23713. China -0.21% to 2247. India +1.20% to 20958. 

#RLPaler #WallStreet #PreMarket #WealthManagement #EarningReports #AnalystsRatings #Bitcoin