China Data Sends Markets Lower

China Data Sends Markets Lower. Chinese exports tumbled -18.1% in February after expanding +10.6% in January missing economist estimates of +6.8% by a wide margin. Some are questioning whether the data was distorted by the Lunar New Year holiday and fake invoicing that boosted the data a year earlier. The news sent Asian markets lower, while the Shanghai Composite fell -2.9%.

Upgrades:

Allegheny Technologies (ATI): ReaserchTeam raised their rating from Reduce to Hold.

Archer Daniels Midland (ADM): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $42.00 to $50.00.

Avery Dennison (AVY): ReaserchTeam raised their rating from Reduce to Hold.

Bank of New York (BK): ReaserchTeam raised their rating from Reduce to Hold.

Big Lots (BIG): FBR Capital raised their rating from Market Perform to Outperform and raised their target price from $35.00 to $45.00. Pre-market: 36.36 +0.39 (1.08%)

Coca-Cola (KO): ReaserchTeam raised their rating from Reduce to Hold. Pre-market: 38.52 -0.03 (-0.08%)

DreamWorks Animation (DWA): B. Riley raised their rating from Neutral to Buy and raised their target price from $32.00 to $37.00. Pre-market: 29.95 +0.49 (1.66%)

National Oilwell (NOV): ReaserchTeam raised their rating from Hold to Accumulate.

Qualcomm (QCOM): ReaserchTeam raised their rating from Hold to Accumulate. Pre-market: 76.94 +0.15 (0.20%)

W.P. Carey (WPC): ReaserchTeam raised their rating from Reduce to Hold.

United States Steel (X): Nomura raised their rating from Neutral to Buy. Pre-market: 24.75 -0.09 (-0.36%)

Downgrades:

D.R. Horton (DHI): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $27.00 to $26.00.

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

Royal Caribbean (RCL): ResearchTeam lowered their rating from Accumulate to Hold.

Staples (SPLS): BB&T lowered their rating from Buy to Hold.

Coverage Initiated:

Laboratory Corp. (LH): Piper Jaffrey initiated coverage with a Neutral rating and target price of $91.00.

Quest Diagnostics (DGX): Piper Jaffrey initiated coverage with a Neutral rating and target price of $51.00.

Markets: 
Futures at 8:03: Dow -0.11%. S&P -0.11%. Nasdaq +0.01%. Crude -1.22% to $101.33. Gold +0.06% to $1339.10. U.S. 10 Year -3/32 to 2.797%.

Europe: London +0.3%. Paris +0.9%. Frankfurt -0.1%. 

Asia: Japan -1% to 15120. Hong Kong -1.8% to 22265. China -2.9% to 1999. India +0.3% to 21983. 

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

Actavis to Buy Forest Labs

Actavis to Buy Forest Labs. Generic drug maker Actavis PLC (ACT) will buy Forest Labs (FRX) for approximately $25 billion in cash and stock. Actavis will pay $89.48 per share, representing a premium of 25% to Forest's closing price on Friday. The offer comprises $26.04 in cash and 0.3306 Actavis share for every Forest share. Actavis said the deal should increase its profits by double-digit percentages in 2015 and 2016, including about $1 billion in tax and operating savings.

Upgrades:

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

Allstate (ALL): ResearchTeam raised their rating from Reduce to Hold.

Berkshire Hathaway (BRK.B): First Call raised their rating from Buy to Strong Buy.

Blackberry (BBRY): FBR Capital raised their rating from Underperform to Market Perform and raised their target price from $6.75 to $10.00. Pre-market: 9.38 +0.40 (4.45%)

Express Scripts (ESRX): Monness Crespi raised their rating from Neutral to Buy. Pre-market: 76.99 +0.24 (0.31%)

GlaxoSmithKline (GSK): ResearchTeam raised their rating from Reduce to Hold.

Intuitive Surgical (ISRG): First Call raised their rating from Hold to Buy.

J.M. Smucker Co. (SJM): Stephens raised their rating from Equal Weight to Overweight and raised their target price from $110.00 to $115.00. Pre-market: 92.07 +0.26 (0.28%)

Kraft (KRFT): ResearchTeam raised their rating from Reduce to Hold.

Mosaic (MOS): ResearchTeam raised their rating from Reduce to Hold.

Praxair (PX): ResearchTeam raised their rating from Reduce to Hold.

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

Waste Management (WM): ResearchTeam raised their rating from Reduce to Hold. Pre-market: 42.40 -1.27 (-2.91%)

Downgrades:

Hormel (HRL): ResearchTeam lowered their rating from Hold to Reduce.

Intel (INTC): ResearchTeam lowered their rating from Hold to Reduce.

Microsoft (MSFT): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 37.58 -0.04 (-0.11%)

Coverage Initiated:

Allscripts Healthcare (MDRX): Citigroup initiated coverage with a Neutral rating and target price of $18.00.

Credit Suisse (CS): Jefferies initiated coverage with a Buy rating. Pre-market: 32.07 +0.62 (1.97%)

Deutsche Bank (DB): Jefferies initiated coverage with a Buy rating. Pre-market: 49.27 +0.35 (0.72%)

UBS (UBS): Jefferies initiated coverage with a Hold rating. Pre-market: 20.97 +0.13 (0.62%)

Earning Reports:

Coca-Cola (KO): Reported EPS of $0.46 in-line with estimates. Pre-market: 38.10 -0.83 (-2.13%)

Diana Shipping (DSX): Reported EPS of -$0.12 missing estimates by -$0.06. Pre-market: 11.90 -0.79 (-6.23%)

Duke Energy (DUK): Reported EPS of $1.00 beating estimates by +$0.05. Pre-market: 71.45 0.00 (0.00%)

Genuine Parts (GPC): Reported EPS of $0.97 beating estimates by +$0.04.

Medtronic (MDT): Reported EPS of $0.91 in-line with estimates. Pre-market: 57.00 +0.12 (0.21%)

Waste Management (WM): Reported EPS of $0.56 missing estimates by -$0.04. Pre-market: 42.40 -1.27 (-2.91%)

Markets: 
Futures at 8:34: Dow +0.09%. S&P +0.03%. Nasdaq +0.09%. Crude +0.90% to $101.20. Gold -0.02% to $1318.50. U.S. 10 Year +5/32 to 2.732%.

Europe: London +0.33%. Paris -0.25%. Frankfurt -0.06%. 

Asia: Japan +3.13% to 14843. Hong Kong +0.23% to 22588. China -0.77% to 2119. India +0.83% to 20634. 

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

Coca-Cola Announces Reorganization

Coca-Cola Announces Reorganization. Coca-Cola (KO) has announced a major reorganization of its Americas business.  The company will split its North American unit into two units as part of their strategy to return to a franchise model in the U.S. Additionally, Steve Cahillane head of Americas, who was considered a possible successor to CEO Muhtar Kent will depart the company. This now leave International boss Ahmet Bozer as the number two in the company and possible CEO successor. Pre-market: 39.64 +0.43 (1.10%)

Upgrades:

Advance Auto Parts (AAP): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $131.00 on the company.

Amazon.com (AMZN): ISI Group raised their rating from Buy to Strong Buy. Pre-market: 385.25 +4.00 (1.05%)

Bed Bath & Beyond (BBBY): ISI Group raised their rating from Cautious to Neutral.

FedEx (FDX): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $124.00 to $190.00. Pre-market: 138.00 +1.66 (1.22%)

Northern Trust (NTRS): Macquarie raised their rating from Neutral to Outperform.

Quicksilver (ZQK): B. Riley raised their rating from Neutral to Buy and raised their target price from $6.50 to $10.00. Pre-market: 7.82 +0.09 (1.16%)

United States Steel (X): Cowen raised their rating from Neutral to Outperform.

Western Digital (WDC): Citigroup raised their rating from Neutral to Buy and raised their target price from $71.00 to $100.00.

Downgrades:

BP plc (BP): UBS lowered their rating from Buy to Neutral. Pre-market: 45.74 -0.43 (-0.93%)

Restoration Hardware (RH): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $92.00 to $65.00. Pre-market: 60.00 -5.27 (-8.07%)

Coverage Initiated:

Chevron (CVX): RBC Capital initiated coverage with a Sector Perform rating and placed a target price of $120.00 on the company. Pre-market: 121.20 +0.21 (0.17%)

Coca-Cola (KO): Janney Capital initiated coverage with a Buy rating and placed a target price of $52.00 on the company. Pre-market: 39.64 +0.43 (1.10%)

Exxon Mobil (XOM): RBC Capital initiated coverage with an Outperform rating and placed a target price of $105.00 on the company. Pre-market: 95.75 +0.39 (0.41%)

Earning Reports:

Adobe Systems (ADBE): Reported EPS of $0.32 in-line with estimates. Pre-market: 57.60 +3.61 (6.69%)

Quicksilver (ZQK): Reported EPS of -$0.04 missing estimates by -$0.08. Pre-market: 7.82 +0.09 (1.16%)

Restoration Hardware (RH): Reported EPS of $0.32 beating estimates by +$0.04. Pre-market: 60.00 -5.27 (-8.07%)

Markets: 
Futures at 6:31: Dow +0.29%. S&P +0.38%. Nasdaq +0.41%. Crude -0.45% to $97.06. Gold +0.24% to $1228.30. U.S. 10 Year +2/32 to 2.877%.

Europe: London +0.16%. Paris +0.28%. Frankfurt +0.18%. 

Asia: Japan +0.40% to 15403. Hong Kong +0.12% to 23246. China -0.31% to 2196. India -1.00% to 20716. 

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

Morning Coffee Pre-Market Wall Street News

Microsoft to Buy Nokia. Reports say that Microsoft (MSFT) has agreed to purchase Nokia’s (NOK) handset unit for $5B and license its patents and mapping services for $2.2B. Nokia’s CEO Stephen Elop as well as other senior Nokia executives will be joining Microsoft, along with the company’s 32,000 workers. (MSFT) Pre-market: 31.84 -1.56 (-4.67%)  (NOK)  Pre-market: 5.54 +1.64 (42.05%)

Upgrades:

AT&T (T): Macquarie raised their rating from Underperform to Neutral. Pre-market: 34.05 +0.22 (0.65%)

Constellation Brands (STZ): Goldman Sachs raised their rating from Neutral to Buy and raised their target price for $59.00 to $65.00.

Finish Line (FINL): Janney Capital raised their rating from Neutral to Buy and raised their target price for $24.00 to $26.00.

NASDAX OMX (NDAQ): BMO Capital raised their rating from Market Perform to Outperform.

Nokia (NOK): Credit Suisse raised their rating from Underperform to Neutral. Pre-market: 5.54 +1.64 (42.05%)

Nokia (NOK): Oppenheimer raised their rating from Underperform to Perform. Pre-market: 5.54 +1.64 (42.05%)

Nokia (NOK): Bernstein raised their rating from Underperform to Market Perform. Pre-market: 5.54 +1.64 (42.05%)

Nokia (NOK): Deutsche Bank raised their rating from Sell to Hold.

Ryder Systems (R): Buckingham raised their rating from Neutral to Buy and maintained their target price of $68.00.

Verizon (VZ): RBC Capital raised their rating from Sector Perform to Outperform. Pre-market: 45.48 -1.90 (-4.33%)

Vodafone (VOD): Bernstein raised their rating from Underperform to Market Perform. Pre-market: 31.79 -0.56 (-1.73%)

Downgrades:

Apple (APPL): ABG Sundal lowered their rating from Hold to Sell and maintained their target price of $400.00. Pre-market: 492.00 +4.78 (0.98%)

Coca-Cola (KO): CLSA lowered their rating from Outperform to Underperform. Pre-market: 38.40 +0.22 (0.58%)

Dean Foods (DF): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $23.00 to $21.00.

Shaw Communications (SJR): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $27.00 to $26.00.

Coverage Initiated:

ING Groep NV (ING): UBS initiated coverage with a Buy rating and target price of $12.75. Pre-market: 11.01 +0.14 (1.29%)

Markets: 
Futures at 6:30: Dow +0.71%. S&P +0.82%. Nasdaq +0.66%. Crude -0.29% to $107.37. Gold -0.25% to $1392.80. U.S. 10 Year -15/32 2.846%.

Europe: London -0.14%. Paris -0.19%. Frankfurt -0.23%. 

Asia: Japan +2.99% to 13978. Hong Kong +0.99% to 22395. China +1.18% to 2123. India -3.45% to 18235. 

Morning Coffee Pre-Market Wall Street News

World Markets Continue Decline. Stock markets worldwide are continuing to sell off. In China stocks fell -5.3%. In mid-day trading European markets are down -1% or more. U.S. stock futures are also looking at a lower opening this morning. Also caught in the wake of the selloff are commodities which are also lower. The sell off started last week when Fed Chairman Ben Bernanke said the Fed would end its QE policy by mid 2014. Bond prices are also getting hit bring the 10-year Treasury yield to a two-year high of 2.61%.

Upgrades:

Advanced Micro (AMD): FBR Capital raised their rating from Market Perform to Outperform and raised their target price from $3.00 to $5.50.

First Solar (FSLR): Maxim raised their rating from Sell to Hold. Pre-market: 42.10 +0.73 (1.76%)

Downgrades:

Allergan (AGN): Sun Trust lowered their rating from Buy to Neutral and lowered their target price from $115.00 to $102.00. Pre-market: 89.19 -3.51 (-3.79%)

Deere & Co (DE): JPMorgan lowered their rating from Neutral to Underweight and placed a target price of $76.00 on the company. Pre-market: 80.83 -1.64 (-1.99%)

Walgreens (WAG): Cantor Fitzgerald lowered their rating from Buy to Hold and placed a target price of $49.00 on the company. Pre-market: 48.20 -0.51 (-1.05%)

Coverage Initiated:

Coca-Cola (KO): Sun Trust initiated coverage with a Buy rating and target price of $47.00.

First Solar (FSLR): JPMorgan initiated coverage with an Overweight rating and target price of $64.00. Pre-market: 42.10 +0.73 (1.76%)

Pfizer (PFE): JPMorgan initiated coverage with an Overweight rating and target price of $33.00.

Sherwin-Williams (SHW): UBS initiated coverage with a Buy rating and target price of $215.00. Pre-market: 173.10 0.00 (0.00%)

Markets: 
Futures at 6:20: Dow -0.7%. S&P -0.7%. Nasdaq -0.5%. Crude -0.1% at $93.62. Gold -0.8% to $1281.90.

Europe: London -1.5%. Paris -1.4%. Frankfurt -0.9%. 

Asia: Japan -1.3% to 13063. Hong Kong -2.2% to 19814. China -5.3% to 1963. India -1.2% to 18541.