Teddy Williams, Dallas Cowboys Hold Camp in Tyler

It great to see Teddy giving back to the community.

http://www.ketknbc.com/sports/teddy-williams-dallas-cowboys-hold-camp-in-tyler

MORNING COFFEE

World Markets Rise On Spanish Bailout. European markets and U.S. stock futures are higher after the EU agreed to provide Spain with $125 billion (€100B) in an attempt to prevent a banking collapse in the country.  The size of the bailout is larger than what economist had expected. The bailout comes just before the Greek June 17^th elections that may push Greece closer to exiting the Eurozone and cause contagion among EU’s most indebted countries. As a loan the bailout will add an additional €100B in debt to the country’s already strapped finances, leaving some to question the Spanish government’s solvency.  Additionally, there was no word if the funds will come from the European Stability Mechanism or the European Financial Stability Facility.

Upgrades

McDonalds (MCD): CLSA raised their rating from Outperform to Buy and raised their target price from $105.00 to $110.00. Pre-market: 88.85 +1.10 (1.25%)

Iron Mountain (IRM): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $42.00 on the company. Pre-market: 32.72 0.00 (0.00%)

Weyerhaeuser (WY): Goldman Sachs raised their rating from Buy to Conviction Buy and placed a target price of $25.00 on the company. Pre-market: 20.99 +0.54 (2.64%)

Time Warner (TWX): Bernstein raised their rating from Underperform to Market Perform and raised their target price from $36.00 to $37.00.

Gulfport Energy (GPOP): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $25.00 on the company.

EMC (EMC): Cantor Fitzgerald raised their rating from Hold to Buy.

Net App (NTAP): Cantor Fitzgerald raised their rating from Hold to Buy.

Downgrades

Walt Disney (DIS): Caris & Company lowered their rating from Buy to Above Average and placed a target price of $52.00 on the company. Pre-market: 46.34 +0.10 (0.22%)

Watson Pharmaceuticals (WPI): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $85.00 to $75.00.

Markets: 
Futures at 8:28: Dow +0.45%. S&P +0.54%. Nasdaq +0.55%. Crude +1.30% to $85.16. Gold +0.35% to $1597.20. 

Europe: London +0.66%. Paris +1.21%. Frankfurt +1.73%.

Asia: Japan +1.96%. Hong Kong +2.44%. China +1.07%. India -0.30%. 

Weekly Market Report

MORNING COFFEE

U.S. Banks $60B Short Under Basel III. Yesterday the Fed in a surprise move voted in favor of applying the complex regulations of Basel III to all 7,307 U.S. banks, which also includes small lenders. Analysts estimate that America's 19 largest banks are at least $50 billion short of meeting the new funding requirements under Basel III and that the smaller lenders are about $10 billion short.

Upgrades

SunTrust Banks (STI): Argus raised their rating from Hold to Buy and placed a target price of $30.00 on the company. Pre-market: 21.77 0.00 (0.00%)

Alaska Air Group (ALK): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $30.00 on the company.

Yahoo! (YHOO): Bernstein James raised their rating from Market Perform to Outperform and placed a target price of $19.00 on the company. Pre-market: 15.45 +0.09 (0.59%)

W.W. Grainger (GWW): UBS raised their rating from Neutral to Buy and maintained their target price of $225.00 on the company.

Chevron (CVX): Societe Generale raised their rating from Hold to Buy and placed a target price of $120.00 on the company. Pre-market: 100.09 -0.30 (-0.30%)

Downgrades

Air Products (APD): Robert W. Baird lowered their rating from Outperform to Neutral and placed a target price of $95.00 on the company.

Clean Channel Outdoor (CCO): Evercore lowered their rating from Equal Weight to Underweight.

Coverage Initiated

Cypress Semi (CY): Cantor Fitzgerald initiated coverage with a Sell rating and target price of $11.00 on the company.

Imax Corp (IMAX): Susquehanna initiated coverage with a Neutral rating and target price of $23.00 on the company.

Juniper Network (JNPR): Citigroup initiated coverage with a Buy rating and target price of $22.00 on the company. Pre-market: 16.65 +0.08 (0.48%)

Earning Reports

Quicksilver (ZQK): Reported EPS of -$0.02 missing estimates by -$0.03.

Thor Industries (THO): Reported EPS of $0.78 missing estimates by -$0.01.

Markets: 
Futures at 7:44: Dow -0.40%. S&P -0.42%. Nasdaq -0.47%. Crude -2.94% to $82.33. Gold -0.48% to $1580.20.

Europe: London -0.71%. Paris -0.88%. Frankfurt -0.67%. 

Asia: Japan -2.09%. Hong Kong -0.94% . China -0.51%. India +0.42%. 

MORNING COFFEE

Talk of Further Fed Easing Increases.  Over the last several days talk about the Federal Reserve taking additional easing steps have increased as poor economic data has been released.  Today Fed Chairman Ben Bernanke is due to testify before the Joint Economic Committee of Congress at 10:00 EST.  Economist and Wall Street will be watching the proceedings for any indication that further easing may be on the way. Recently three Fed officials including Vice Chair Janet Yellen, have said that further action to support growth in the U.S. 

Upgrades

Lamar Advertising (LAMR): Caris raised their rating from Above Average to Buy and placed a target price of $38.00 on the company.

American Axle & Manufacturing (AXL): Buckingham raised their rating from Neutral to Buy. Pre-market: 9.55 +0.36 (3.92%)

RF Micro Devices (RFMD): Davenport raised their rating from Neutral to Buy and placed a target price of $6.50 on the company. Pre-market: 4.31 +0.17 (4.11%)

Regions Financial (RF): Macquarie raised their rating from Neutral to Outperform and placed a target price of $7.00 on the company. Pre-market: 6.07 +0.12 (2.02%)

Medtronic (MDT): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $43.00 to $44.00.

M&T Bank (MTB): Janney Capital raised their rating from Neutral to Buy and placed a target price of $7.00 on the company.

Coverage Initiated

Kodiak Oil & Gas (KOG): Wunderlich initiated coverage with a Buy rating and target price of $10.00. Pre-market: 8.10 +0.35 (4.52%)

Chesapeake Energy (CHK): Wunderlich initiated coverage with a Buy rating and target price of $10.00. Pre-market: 18.40 +0.19 (1.04%)

Coverage Reiterated/Price Target Changed

Haliburton (HAL): FBR Capital reiterated their Outperform rating and lowered their target price from $55.00 to $50.00. Pre-market: 28.36 +0.26 (0.93%)

Earning Reports

Men's Wearhouse (MW): Reported EPS of $.053 missing estimates by -$0.01. Pre-market: 28.65 -6.92 (-19.45%)

Pall (PLL): Reported EPS of $0.70 missing estimates by -$0.08. Pre-market: 49.21 -5.42 (-9.92%)

Pep Boys (PBY): Reported EPS of $0.02 in-line with estimates. Pre-market: 8.92 +0.16 (1.83%)

Men's Wearhouse (MW): Reported EPS of $7.53 missing estimates by +$0.01. Pre-market: 28.65 -6.92 (-19.45%)

J.M. Smucker (SJM): Reported EPS of $1.10 beating estimates by +$0.12. Pre-market: 76.58 +0.53 (0.70%)

Navistar (NAV): Reported EPS of -$1.99 missing estimates by -$2.67. Pre-market: 24.25 -3.90 (-13.85%)

Markets: 
Futures at 7:00: Dow +0.51%. S&P +0.68%. Nasdaq +0.73%. Crude +1.48% to $86.26. Gold -0.63% to $1623.90. 

Europe: London +1.43%. Paris +0.91%. Frankfurt +1.38%. 

Asia: Japan +1.24%. Hong Kong +0.85%. China -0.71%. India +1.18%. 

MORNING COFFEE

Defense Companies Fight Budget Cuts.  In a move to fight back against the $50 billion in defense cuts set to be implemented Jan. 1 2013, defense companies are threatening layoff.  Boeing (BA), Lockheed Martin (LMT), Northrop Grumman (NOC) and other defense contractors have said they will announce massive layoffs just prior to the election if Congress fails act by forestalling the cuts. Many of the contractors have large facilities in battleground states which would be a large blow to President Obama.

Additionally, Lockheed Martin (LMT) has won a preliminary contract valued at $2.02 billion to build at least 42 interceptor missiles.  The contract needs to be finalized and runs through July 31, 2018.

Upgrades

Forest Oil (FST): Canaccord Genuity raised their rating from Hold to Buy and maintained their target price of $12.00 on the company. Pre-market: 8.20 +0.30 (3.80%)

Chesapeake Energy (CHK): Argus raised their rating from Sell to Hold. Pre-market: 17.52 +0.52 (3.06%)

Groupon (GRPN): Stifel Nicolaus raised their rating from Sell to Hold. Pre-market: 10.00 +0.22 (2.20%)

Occidental Petroleum (OXY): Tudor Pickering raised their rating from Accumulate to Buy. Pre-market: 81.50 +0.32 (0.39%)

Tata Motors (TTM): Deutsche Bank raised their rating from Sell to Hold. Pre-market: 20.99 +0.92 (4.58%)

Dicks Sporting Goods (DKS): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $49.00-$52.00 to $52.00-$55.00. Pre-market: 46.30 +0.69 (1.51%)

Downgrades

Symantec (SYMC): FBR Capital lowered their rating from Outperform to Market Perform and lowered their target price from $20.00 to $16.00. Pre-market: 14.56 0.00 (0.00%)

Coverage Initiated

CIT Group (CIT): Janney Capital initiated coverage with a Buy rating and target price of $42.00.

Facebook (FB): JMP Securities initiated coverage with an Outperform rating and target price of $37.00. Pre-market: 26.34 +0.47 (1.82%)

Earning Reports

Bob Evans (BOBE): Reported EPS of $0.68 missing estimates by -$0.05. Pre-market: 37.25 -3.19 

(-7.89%)

Ulta Salon (ULTA): Reported EPS of $0.54 beating estimates by +$0.01. Pre-market: 90.05 +2.67 (3.06%)

Vail Resorts (MTN): Reported PES of $2.17 in-line with estimates.

Markets: 
Futures at 9:01: Dow +0.39%. S&P +0.51%. Nasdaq +0.58%. Crude +0.83% to $84.99. Gold +1.16% to $1635.70. 

Europe: London +1.07%. Paris +1.19%. Frankfurt +0.86%. 

Asia: Japan +1.81%. Hong Kong +1.43%. China -0.10%. India +2.71%. 

Veal crushes Wicks in MMA debut

I am happy to announce that our client Demetrin won his first professional fight.

Veal crushes Wicks in MMA debut

Former Denver Broncos defensive lineman Leandro Veal proved that his athleticism translated to the cage by demolishing former WWE wrestler Chad Wicks. Veal used his jab early, but Wicks was able to score with a big slam. Veal worked his way to the feet and connected with a big shot that sent Wicks crashing to the mat. After a violent collision reminiscent of the gridiron, Veal finished Wicks with a series of right hands and elbows. A disorientated Wicks was left wondering where he was after the referee intervened.

Leandro Veal def. Chad Wicks by KO at 2:54, R1

Veal crushes Wicks in MMA debut

London 2012: Are hurdlers Robles, Oliver & Liu the best ever?

The 80,000 fans lucky enough to be in London's Olympic Stadium on 8 August could be in for a treat.

Barring injuries, the three fastest sprint hurdlers in history are likely to go head-to-head for the first time in an Olympic 110m hurdles final.

London 2012: Are hurdlers Robles, Oliver & Liu the best ever?

We believe that our client David Oliver is the best ever.

Olympian David Oliver visits YMCA

David Oliver competes on Day 10 of the Beijing 2008 Olympic Games on August 18, 2008.

EUGENE, Ore. -- Maybe David Oliver wins the 110-meter hurdles here Saturday at the Prefontaine Classic against a stacked field. Doesn't matter....
Client David Oliver visits YMCA 

MORNING COFFEE

Is Europe Sinking

Is Europe Sinking? In Spain today, Treasury Minister Cristobal Montoro said that because of the high risk premium, the country is effectively locked out of the markets. He added that the EU should bail out some of their banks which is contrary to what Prime Minister Mariano Rajoy has said publicly. Tomorrow could be a volatile time for Spain as they look to auction of €1B-€2B in bonds.

Also in the Eurozone, retail sale fell much worse than expected. April retail sales came in at -1% for the month and -2.5% on a yearly basis.  Economists had expected numbers of -0.1% and -1.1% respectively. The final PMI composite index fell to 46 from 46.7.

Upgrades

Comerica (CMA): Stifel Nicolaus raised their rating from Sell to Hold.

Mead Johnson Nutrition (MJN): Miller Tabak raised their rating from Neutral to Buy and placed a target price of $90.00 on the company. Pre-market: 79.74 +0.72 (0.91%)

Marvell Technology (MRVL): JMP Securities raised their rating from Underperform to Market Perform. Pre-market: 12.15 +0.13 (1.08%)

Downgrades

Navistar (NAV): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $56.00 to $31.00.

Coverage Initiated

SanDisk (SNDK): Pacific Crest initiated coverage with an Outperform rating and target price of $47.00. Pre-market: 31.95 +0.29 (0.92%)

Iron Mountain (IRM): Piper Jaffray initiated coverage with an Overweight rating and target price of $35.00.

Earning Reports

Dollar General (DG): Reported EPS of $0.63 beating estimates by +$0.04. Pre-market: 46.50 -1.99 (-4.10%)

JA Solar (JASO): Reported EPS of -$0.20 missing estimates by -$0.04. Pre-market: 0.930 +0.040 (4.49%)

Markets: 
Futures at 8:12: Dow +0.10%. S&P -0.02%. Nasdaq -0.38%. Crude +0.34% to $84.24. Gold +0.45% to $1621.30. 

Europe: London closed. Paris +1.01%. Frankfurt -0.49%. 

Asia: Japan +1.04%. Hong Kong +0.40%. China +0.15%. India +0.20%. 

MORNING COFFEE

New Master Plan for EU. Reports say that EU and ECB officials are working on a “master plan" to restructure Europe.  The master plan would include restructuring EU banking and fiscal planning while deepening the political union. Indications are the Germany would drop its opposition to the banking and fiscal plans in return for EU governments giving up more sovereignty.

Portuguese Banks Receive Bailout. The Portuguese government will use more than €6.6 billion of its international bailout money to bail out its banks. The government will inject €1.65 billion into state-controlled Caixa Geral de Depositos, €3.5 billion into Banco Comercial Portugues SA, and €1.5 billion into Banco BPI SA (BBSPY). The bailout will help the banks as loan losses are rising.  In return the Portuguese government will receive convertible bonds from Banco Comercial Portugues and Banco BPI in return.

Upgrades

Boeing (BA): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $80.00 on the company. Pre-market: 67.81 +0.57 (0.85%)

Bank of America (BAC): Evercore raised their rating from Equal Weight to Overweight. Pre-market: 7.07 +0.05 (0.71%)

Downgrades

Cheesecake Factory (CAKE): William Blair lowered their rating from Outperform to Market Perform.

Yum! Brands (YUM): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 64.02 -0.68 (-1.05%)

Charles Schwab (SCHW): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $20.00 to $13.00. Pre-market: 11.99 -0.11 (-0.91%)

TD Ameritrade (AMTD): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $22.00 to $18.00. Pre-market: 16.35 -0.12 (-0.73%)

Regions Financial (RF): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $7.50 to $6.50. Pre-market: 5.83 -0.05 (-0.85%)

Cummins (CMI): Wells Fargo Bank lowered their rating from Outperform to Market Perform and lowered their target price range from $132.00-$135.00 to $100.00-$103.00. Pre-market: 92.63 -0.93 (-0.99%)

Markets: 
Futures at 7:00: -0.02%. S&P +0.28%. Nasdaq +0.24%. Crude -1.08% to $82.33. Gold -0.09% to $1620.70. 

Europe: London closed. Paris +0.73%. Frankfurt -0.45%. 

Asia: Japan -1.71%. Hong Kong -2.01%. China -2.73%. India +0.15%. 

MORNING COFFEE

Unemployment Jumps to 8.2%.  The labor department reported that U.S. employers created only 69,000 jobs in May, the fewest in a year, causing the unemployment rate ticked up. Additionally, the number for March and April were also revised downward a total of 49,000 jobs.  The U.S. economy has now averaged only 73,000 new jobs over the past two months.  This is well below the 226,000 jobs created per month in the January-March quarter and well below what would be expected in a healthy economy.  The poor jobs report has caused the unemployment rate to jump to 8.2 percent from 8.1 percent in April, the first increase in 11 months.  The real unemployment rate came in at 14.8%.  The real unemployment rate includes people that can work, but stopped looking and those that are underemployed.

Upgrades

BlackRock (BLK): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $200.00 to $205.00.

Check Point Software (CHKP): Wunderlich raised their rating from Hold to Buy and placed a target price of $60.00 on the company.

Clorox (CLX): Citigroup raised their rating from Neutral to Buy and raised their target price from $72.00 to $78.00.

VMware (VMW): Mizuho raised their rating from Neutral to Buy and raised their target price from $104.00 to $107.00.

Coverage Initiated

Facebook (FB): Robert W. Baird initiated coverage with an Outperform rating and target price of $37.00.

Dycom (DY): Imperial Capital initiated coverage with an Outperform rating and target price of $24.00.

Markets: 
Futures at 8:46: Dow -1.64%. S&P -1.77%. Nasdaq -1.65%. Crude -3.25% to $83.73. Gold +1.42% to $1586.90. 

Europe: London -1.28%. Paris -2.26%. Frankfurt -3.10%. 

Asia: Japan -1.20%. Hong Kong -0.38%. China +0.05%. India -1.56% at 15965.