Disney Reports Good Quarterly Results. Walt Disney's (DIS) reported quarterly results that beat Wall Street’s expectations. Disney announced that their FQ1 net profit rose +33% to $1.84B and earnings of $1.04. Revenue at the entertainment giant climbed +8.6% to $12.31B. Sales grew across all of Disney's different divisions with close to half of the company's profit coming from Media Networks, led by ESPN. The films "Frozen" and "Thor: The Dark World" helped studio revenue leap +23% to $1.89B. Pre-market: 74.65 +2.89 (4.03%)

Upgrades:

American Express (AXP): Janney Capital raised their rating from Neutral to Buy and placed a target price of $90.00 on the company. Pre-market: 84.25 +0.53 (0.63%)

Green Mountain Coffee (GMCR): Stifel raised their rating from Sell to Hold. Pre-market: 112.20 +31.32 (38.72%)

Mosaic (MOS): HSBC raised their rating from Underweight to Neutral. Pre-market: 45.25 +0.39 (0.87%)

Downgrades:

Diamond Offshore (DO): Iberia lowered their rating from Sector Perform to Underperform and placed a target price of $30.00 on the company. Pre-market: 47.25 +0.74 (1.59%)

Ford Motor Co. (F): Argus lowered their rating from Buy to Hold. Pre-market: 14.64 -0.09 (-0.61%)

Twitter (TWTR): Sterne Agee lowered their rating from Neutral to Underperform and placed a target price of $43.00 on the company. Pre-market: 50.71 -15.26 (-23.13%)

Twitter (TWTR): Atlantic Equities lowered their rating from Neutral to Underweight. Pre-market: 50.71 -15.26 (-23.13%)

Coverage Initiated:

Dow Chemical (DOW): BGC Financial initiated coverage with a Buy rating and target price of $55.00. Pre-market: 45.40 +0.55 (1.23%)

Earning Reports:

Advance Auto (AAP): Reported EPS of $0.94 beating estimates by +$0.13. Pre-market: 123.00 +12.25 (11.06%)

AOL (AOL): Reported EPS of $0.43 missing estimates by -$0.05. Pre-market: 49.49 +1.92 (4.04%)

Dunkin Brands (DNKN): Reported EPS of $0.43 beating estimates by +$0.03. Pre-market: 48.31 +1.01 (2.14%)

General Motors (GM): Reported EPS of $0.67 missing estimates by -$0.22. Pre-market: 34.57 -0.67 (-1.90%)

Kellogg (K): Reported EPS of $0.83 beating estimates by +$0.01. Pre-market: 57.00 -0.37 (-0.64%)

Snap-On (SNA): Reported EPS of $1.60 beating estimates by +$0.04.  

Sony (SNE): Reported EPS of $26.00 beating estimates by +$11.40.  Pre-market: 15.18 -0.72 (-4.53%)

Twitter (TWTR): Reported EPS of $0.02 beating estimates by +$0.03. Pre-market: 50.71 -15.26 (-23.13%)

Walt Disney (DIS): Reported EPS of $1.04 beating estimates by +$0.15. Pre-market: 74.65 +2.89 (4.03%)

Markets: 
Futures at 8:39: Dow +0.42%. S&P +0.42%. Nasdaq +0.52%. Crude +0.77% to $98.13. Gold +0.01% to $1257.20. U.S. 10 year -3/32 to 2.683%.

Europe: London +0.74%. Paris +0.48%. Frankfurt +0.42%.

Asia: Japan -0.18% to 14155. Hong Kong +0.72% to 21423. China closed. India +0.25% at 20311. 

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Berkshire Hathaway Buys Exxon Mobil

Berkshire Hathaway Buys Exxon Mobil. Berkshire Hathaway (BRK.A / BRK.B) has bought 40.1 million shares of Exxon Mobil (XOM). The purchase makes Warren Buffett’s company the 6^th largest shareholder of Exxon. During the third quarter he also added to his position in the Bank of New York Mellon (BK), DaVita HealthCare Partners (DVA), Suncor Energy (SU), U.S. Bancorp (USB) and VeriSign (VRSN). During the quarter he also lowered his holdings in ConocoPhillips (COP), DirecTV (DTV), GlaxoSmithKline (GSK) and Sanofi (SNY). Pre-market: 115.60 -0.09 (-0.08%)

Upgrades:

Allscripts Healthcare Solutions (MDRX): Leerink raised their rating from Market Perform to Outperform and raised their target price from $16.00 to $18.00.

Ball Corp (BLL): BofA Merrill Lynch raised their rating from Neutral to Buy and raised their target price from $49.00 to $56.00.

Downgrades:

BlackBerry (BBRY): Macquarie lowered their rating from Neutral to Underperform and lowered their target price from $7.00 to $5.50.

Kellogg Co. (K): Barclays lowered their rating from Equal Weight to Underweight.

Kolh’s (KSS): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $66.00 to $55.00.

W.W. Grainger (GWW): Raymond James lowered their rating from Outperform to Market Perform.

Coverage Initiated:

Guess? (GES): Mizuho initiated coverage with a Neutral rating and target price of $30.00.

Twitter (TWTR): UBS initiated coverage with a Neutral rating and target price of $45.00.

Yelp (YELP): Janney Capital initiated coverage with a Neutral rating and target price of $70.00.

Earning Reports:

Agilent (A): Reported EPS of $0.81 beating estimates by +$0.05. Pre-market: 54.00 +3.46 (6.85%)

Applied Materials (AMAT): Reported EPS of $0.19 beating estimates by +$0.01. Pre-market: 17.65 +0.09 (0.51%)

Nordstrom (JWN): Reported EPS of $0.69 beating estimates by +$0.03. Pre-market: 62.70 -0.73 (-1.15%)

Maximus (MMS): Reported EPS of $0.51 beating estimates by +$0.01.

Markets: 
Futures at 8:01: Dow +0.20%. S&P +0.20%. Nasdaq +0.13%. Crude +0.37% to $94.10. Gold -0.01% to $1286.20. U.S. 10 Year -3/32 2.701%.

Europe: London +0.32%. Paris +0.25%. Frankfurt +0.25%. 

Asia: Japan +1.95% to 15166. Hong Kong +1.69% to 23032. China +1.68% to 2136. India closed. 

#RLPaler #WallStreet #PreMarket #WealthManagement #EarningReports #AnalystsRatings #WarrenBuffett #BerkshireHathaway #ExxonMobil

Morning Coffee Pre-Market Wall Street News

European Commission Lowers EU GDP Forecast. The European Commission has lowered its 2014 GDP forecast for the eurozone forecast to 1.1% from 1.2%. Germany, Belgium, Estonia and Ireland’s economy should grow in 2014. While they warned that Spain, Greece, Italy and Portugal will experience much weaker growth. Unemployment for the eurozone is expected to remain high at 12.2%. Inflation should remain low at 1.5%. The European Commission also expects that the eurozone's economy will shrink -0.4% this year.

Downgrades:

Blackberry (BBRY): CIBC lowered their rating from Sector Perform to Underperform and lowered their target price from $12.00 to $5.00. Pre-market: 6.61 +0.12 (1.77%)

Humana (HUM): Monness Crespi lowered their rating from Buy to Neutral. Pre-market: 94.00 -0.13 (-0.14%)

Kellogg (K): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $68.00 to $65.00.

St Jude Medical (STJ): Bernstein lowered their rating from Outperform to Market Perform and placed a target price of $62.00 on the company. Pre-market: 57.01 -1.88 (-3.19%)

UnitedHealth (UNH): Monness Crespi lowered their rating from Buy to Neutral. Pre-market: 68.38 -0.57 (-0.83%)

Wellpoint (WLP): Monness Crespi lowered their rating from Buy to Neutral.

Coverage Initiated:

Twitter (TWTR): CRT Capital initiated coverage with a Buy rating and target price of $40.00.

Earning Reports:

AOL (AOL): Reported EPS of $0.55 beating estimates by +0.04. Pre-market: 40.38 +1.66 (4.29%)

Cognizant Tech (CTSH): Reported EPS of $1.13 beating estimates by +0.03. Pre-market: 90.30 +3.45 (3.97%)

CVS Caremark (CVS): Reported EPS of $1.09 beating estimates by +0.07. Pre-market: 63.15 +1.17 (1.89%)

Emerson (EMR): Reported EPS of $1.18 beating estimates by +0.07. Pre-market: 65.29 -2.08 (-3.09%)

Mosaic (MOS): Reported EPS of $0.51 missing estimates by -$0.04. Pre-market: 45.83 -0.90 (-1.93%)

Markets: 
Futures at 6:20: Dow -0.34%. S&P -0.28%. Nasdaq -0.35%. Crude -0.19% to $94.44. Gold +0.11% to $1316.00 U.S. 10 Year -6/32 2.631%. 

Europe: London -0.60%. Paris -1.13%. Frankfurt -0.61%. 

Asia, Japan +0.17% to 14225. Hong Kong -0.65% to 23039. China +0.35% to 2157. India -1.25% to 20975. 

#RLPaler #WallStreet #StockMarket #WealthManagement #EarningReports

Morning Coffee Pre-Market Wall Street News

Government Wants Bank of America to Pay $6 Billion. Reports say that the Federal Housing Finance Agency reportedly wants Bank of America (BAC) to pay a minimum of at least $6B in fines to settle accusations that it sold faulty mortgage bonds to Fannie Mae (FNMA) and Freddie Mac (FMCC). The fin if agreed to would be much larger then JPMorgan’s (JPM) agreement to pay $4B and UBS’s fine of $885M. (BAC) Pre-market: 14.54 -0.09 (-0.62%)

Upgrades:

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

Apple ( AAPL): Societe Generale raised their rating from Hold to Buy and raised their target price from $500.00 to $575.00.

Archer Daniels Midland (ADM): BofA Merrill Lynch raised their rating from Underperform to Buy and raised their target price from $36.00 to $44.00. Pre-market: 38.27 +0.25 (0.66%)

Celgene (CELG): ResearchTeam raised their rating from Hold to Accumulate.

CVS Caremark (CVS): ResearchTeam raised their rating from Reduce to Accumulate.

Barrick Gold (ABX): HSBC raised their rating from Neutral to Overweight and placed a target price of $21.00 on the company.

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

Expeditors Intl (EXPD): ResearchTeam raised their rating from Hold to Accumulate.

Intel (INTC): ResearchTeam raised their rating from Hold to Accumulate.

Ryder Systems (R): ResearchTeam raised their rating from Reduce to Hold.

Sonoco (SON): ResearchTeam raised their rating from Reduce to Hold.

Downgrades:

Abercrombie & Fitch (ANF): Macquarie lowered their rating from Outperform to Neutral and placed a target price of $36.00 on the company.

Apache (APA): ISI Group lowered their rating from Buy to Neutral and lowered their target price from $112.00 to $111.00.

Chipotle Mexican Grill (CMG): Miller Tabak lowered their rating from Buy to Hold and maintained their target price of $490.00.

General Mills (GIS): BofA Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $54.00 to $51.00. Pre-market: 48.70 -0.49 (-1.00%)

Goodyear Tire (GT): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $29.00 to $26.00.

Kaiser Aluminum (KALU): Sterne Agee lowered their rating from Buy to Neutral.

Kaiser Aluminum (KALU): KeyBanc lowered their rating from Buy to Hold.

Kellogg (K): BofA Merrill Lynch lowered their rating from Buy to Underperform and lowered their target price from $69.00 to $62.00. Pre-market:60.37 -1.05 (-1.71%)

Marathon Oil (MRO): ISI Group lowered their rating from Buy to Neutral and maintained their target price of $42.00.

Tesco (TESO): Capital One lowered their rating from Add to Neutral and placed a target price of $18.00 on the company.

Earning Reports:

Check Point Software (CHKP): Reported EPS of $0.85 beating estimates by +$0.01. Pre-market: 60.00 +1.59 (2.72%)

Halliburton (HAL): Reported EPS of $0.83 beating estimates by +$0.01. Pre-market: 51.01 -1.46 (-2.78%)

Hasbro (HAS): Reported EPS of $1.31 beating estimates by +$0.02. Pre-market: 48.49 +1.25 (2.65%)

McDonald’s (MCD): Reported EPS of $1.52 beating estimates by +$0.01. Pre-market: 93.50 -1.70 (-1.79%)

Philips Electronics (PHG): Reported EPS of $0.31 missing estimates by -$0.02. Pre-market: 35.43 +1.88 (5.60%)

SAP AG (SAP): Reported EPS of $0.78 missing estimates by -$0.01. Pre-market: 77.26 +3.51 (4.76%)

V.F. Corp (VFC): Reported EPS of $3.91 beating estimates by +$0.13. Pre-market: 211.25 +6.95 (3.40%)

Markets: 
Futures at 7:14: Dow +0.02%. S&P +0.12%. Nasdaq +0.28%. Crude -1.20% to $99.60. Gold +0.05% to $1315.20. U.S. 10 Year -4/32 2.597%.

Europe: London +0.85%. Paris -0.28%. Frankfurt -0.06%. 

Asia: Japan +0.91% to 14694. Hong Kong +0.42% to 23438. China +1.62% to 2229. India +0.05% to 20894. 

#RLPaler

Morning Coffee Pre-Market Wall Street News

Inflation Rose Less Than Expected. The Labor Department reported this morning that inflation rose less than expected in August.  The CPI rose only +0.1% in August versus the +0.2% increase in July. The core CPI, which excludes food and energy rose +0.1%. Wall Street economist had expected a +0.2% for both the CPI and Core CPI numbers.

Upgrades:

American States Water (AWR): Brean Capital raised their rating from Hold to Buy and placed a target price of $28.00 on the company.

Broadcom (BRCM): Susquehanna raised their rating from Neutral to Positive and raised their target price from $33.00 to $35.00. Pre-market: 27.33 +0.42 (1.56%)

Delta Airlines (DAL): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $22.00 to $26.00. Pre-market: 23.64 +0.49 (2.12%)

FreightCar America (RAIL): Stephens raised their rating from Equal Weight to Overweight and raised their target price from $18.00 to $24.00. Pre-market: 19.96 +0.66 (3.42%)

Mead Johnson Nutrition (MJN): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $78.00 to $88.00. Pre-market: 76.11 0.00 (0.00%)

US Airways (LCC): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $18.00 to $26.00. Pre-market: 18.58 +0.51 (2.82%)

Verizon Communications (VZ): RBC Capital raised their rating from Sector Perform to Outperform and placed a target price of $54.00 on the company.

Downgrades:

Comstock Resources (CRK): Howard Weil lowered their rating from Sector Outperform to Sector Perform. Pre-market: 15.89 -0.12 (-0.75%)

ConAgra Foods (CAG): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $36.00 to $33.00.

Kellogg (K): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $65.00 to $60.00.

Steven Madden (SHOO): Wedbush lowered their rating from Outperform to Neutral and maintained their target price of $55.00.

Coverage Initiated:

Angie’s List (ANGI): Telsey Advisory Group placed a target price of $29.00 on the company. Pre-market: 20.83 +0.59 (2.92%)

Perrigo (PRGO): CRT Capital initiated coverage with a Buy rating and target price of $145.00.

Earning Reports:

Coty (COTY): Reported EPS of $0.03 beating estimates by +$0.01.

FactSet Research (FDS): Reported EPS of $1.20 beating estimates by +$0.01. Pre-market: 111.00 -1.25 (-1.11%)

Markets: 
Futures at 8:20: Dow +0.05%. S&P +0.01%. Nasdaq +0.11%. Crude -0.43% to $106.12. Gold +0.10% to $1319.00. U.S. 10 Year +7/32 2.841%.

Europe: London -0.49%. Paris -0.23%. Frankfurt -0.21%. 

Asia: Japan -0.65% to 14312. Hong Kong -0.31% to 23181. China -2.05% to 2186. India +0.31% to 19804.