Morning Coffee Pre-Market Wall Street News

Market Worry About Cyprus. Global markets are once again focusing on Cyprus. The government is scheduled to vote on whether to approve a raid on bank deposits by taxing them today.  The latest plan would exempt deposits below €20,000. Deposits above €20,000 would be taxed at 6.7%, while deposits above €100,000 would be taxed at 12.5%. The eurzone is demanding the tax in exchange for a $10 billion bailout plan. Cypriot banks hold about $90.7 billion in deposits, nearly half of which belong to foreigners. Russian and Ukraine citizens are the foreigners with the most to lose, causing their governments to denounce the planned tax as “unfair.”  The Russian energy company Gazprom (OGZPY) has also offered the government of Cyprus a bailout. In exchange Gazprom would receive all of rights for gas and oil exploration. Pre-market: 9.28 -0.04 (-0.43%)

Earning Reports

FactSet (FDS): Reported EPS of $1.14 beating estimates by +0.09.

Walgreens (WAG): Reported EPS of $0.96 beating estimates by +0.03. Pre-market: 43.16 +0.73 (1.72%)

Upgrades

Akamai Technologies (AKAM): S&P raised their rating from Buy to Strong Buy. Pre-market: 34.80 +0.25 (0.72%)

eBay (EBAY): Cantor Fitzgerald raised their rating from Hold to Buy. Pre-market: 50.95 +0.84 (1.68%)

Panara Bread (PNRA): BMO Capital raised their rating from Market Perform to Outperform.

Downgrades

Cracker Barrel (CBRL): Miller Tabak lowered their rating from Buy to Hold and placed a target price of $81.00 on the company.

Deer & Co. (DE): UBS lowered their rating from Buy to Neutral and lowered their target price from $103.00 to $98.00. Pre-market: 90.76 -1.06 (-1.15%)

Electronic Arts (EA): Needham lowered their rating from Buy to Hold. Pre-market: 19.05 +0.34 (1.82%)

Kolh’s (KSS): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $42.00 on the company.

Coverage Initiated

Amazon.com (AMZN): JMP Securities initiated coverage with a Market Perform rating. Pre-market: 258.40 +0.51 (0.20%)

AOL (AOL): JMP Securities initiated coverage with an Outperform rating and target price of $44.00.

eBay (EBAY): JMP Securities initiated coverage with an Outperform rating and target price of $68.00. Pre-market: 50.95 +0.84 (1.68%)

Expedia (EXPE): JMP Securities initiated coverage with a Market Perform rating.

Facebook (FB): JMP Securities initiated coverage with a Market Perform rating. Pre-market: 26.68 +0.19 (0.72%)

Google (GOOG): JMP Securities initiated coverage with an Outperform rating and target price of $955.00. Pre-market: 811.00 +3.21 (0.40%)

International Paper (IP): KeyBanc Capital Markets initiated coverage with a Hold rating. Pre-market: 45.16 -0.23 (-0.51%)

Priceline.com (PCLN): JMP Securities initiated coverage with an Outperform rating and target price of $850.00.

Yahoo! (YHOO): Raymond James Securities initiated coverage with an Outperform rating and target price of $26.00. Pre-market: 22.08 +0.07 (0.32%)

Coverage Reiterated/Price Target Changed

Dycom (DY): FBR Capital reiterated their Outperform rating and raised their target price from $26.00 to $27.00.

Electronic Arts (EA): Stifel reiterated their Buy rating and raised their target price from $17.00 to $21.00. Pre-market: 19.05 +0.34 (1.82%)

Norfolk Southern (NSC): Cowen reiterated their Buy rating and raised their target price from $82.00 to $85.00.

Markets: 
Futures at 7:00: Dow +0.01%. S&P +0.12%. Nasdaq +0.07%. Crude +0.20% to $93.92. Gold -0.10% to $1603.00.

Europe: London +0.01%. Paris -0.49%. Frankfurt -0.21%. 

Asia: Japan +2.03% to 12468. Hong Kong -0.19% to 22042. China +0.78% to 2257. India -1.48% to 19008. 

Morning Coffee Pre-Market Wall Street News

Stock Futures Point Lower. U.S. stock futures and world markets are lower after the eurozone demanded that Cyprus tax bank accounts. The eurozone wants Cyprus to tax bank savings accounts of under €100,000 at 6.7% and those above that level at 9.9%. In exchange the eurozone would provide a €10B bailout. The news is causing a run on the banks as people withdrawal their savings before its taxed.

Upgrades

Advanced Micro Devices (AMD): Macquarie raised their rating from Underperform to Outperform and raised their target price from $2.50 to $3.30. Pre-market: 2.60 0.00 (0.00%)

Apple (AAPL): ResearchTeam raised their rating from Reduce to Hold. Pre-market: 441.65 -2.01 (-0.45%)

Arch Coal (ACI): Nomura raised their rating from Reduce to Neutral and placed a target price of $11.00 on the company. Pre-market: 5.80 -0.04 (-0.68%)

Best Buy (BBY): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $29.00 on the company. Pre-market: 21.50 +0.05 (0.23%)

ConocoPhillips (COP): ResearchTeam raised their rating from Reduce to Hold. Pre-market: 58.55 -0.52 (-0.88%)

CVS Caremark (CVS): ResearchTeam raised their rating from Hold to Accumulate. Pre-market: 53.16 -0.42 (-0.78%)

Northrop Grumman (NOC): ResearchTeam raised their rating from Reduce to Hold.

Office Depot (ODP): KeyBanc raised their rating from Hold to Buy and placed a target price of $4.80 on the company. Pre-market: 4.04 +0.03 (0.75%)

Office Max (OMX): KeyBanc raised their rating from Hold to Buy and placed a target price of $14.50 on the company.

Synaptics (SYNA): Needham raised their rating from Hold to Buy and placed a target price of $52.00 on the company.

United Tech (UTX): Citigroup raised their rating from Neutral to Buy raised their target price from $88.00 to $110.00.

Verizon (VZ): Citigroup raised their rating from Neutral to Buy raised their target price from $46.00 to $54.00. Pre-market: 48.05 +0.03 (0.06%)

Downgrades

JM Smucker (SJM): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $95.00 to $93.00. Pre-market: 95.00 -2.40 (-2.46%)

Kimberly Clark (KMB): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $91.00 on the company. Pre-market: 91.76 -1.50 (-1.61%)

Micron Tech (MU): Susquehanna lowered their rating from Neutral to Negative and lowered their target price from $8.00 to $7.00. Pre-market: 9.11 -0.26 (-2.77%)

Progressive Corp (PGR): Evercore lowered their rating from Equal Weight to Underweight placed a target price of $24.00 on the company.

Teva Pharm (TEVA): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $45.00 -$48.00 to $43.00 - $45.00. Pre-market: 40.40 -0.42 (-1.03%)

Coverage Initiated

Boise Cascade (BCC): Wells Fargo initiated coverage with a Market Perform rating and placed a target range of $34.00 - $36.00 on the company. Pre-market: 32.45 -0.18 (-0.55%)

Coverage Reiterated/Price Target Changed

Honeywell (HON): FBR Capital reiterated their Market Perform rating and raised their target price from $64.00 to $76.00.

Earning Reports

Ameresco (AMRC): Reported EPS of $0.11 beating estimates by +$0.01.

Sterling Construction (STRL): Reported EPS of $0.01 missing estimates by -$0.04.

TravelCenters of America (TA): Reported EPS of -$0.08 beating estimates by +$0.03. Pre-market: 7.59 +0.02 (0.26%)

Markets: 
Futures at 7:01: Dow -0.64%. S&P -0.95%. Nasdaq -1.13%. Crude -1.13% to $92.39. Gold +0.56% to $1601.50.

Europe: London -0.79%. Paris -1.40%. Frankfurt -1.07%. 

Asia: Japan -2.71% to 12221. Hong Kong -2.00% to 22083. China -1.68% to 2240. India -0.69% to 19293. 

PREVIEW: WEEKEND NORWEIGAN SOCCER ACTION

Client Josh Gatt ready for season kickoff.

http://www.yanks-abroad.com/content.php?mode=show&id=10045

Pre Classic High Jump Includes Best In The World

Clients in the news - Jesse Williams

http://www.letsrun.com/news/2013/03/pre-classic-high-jump-includes-best-in-the-world/

Morning Coffee Pre-Market Wall Street News

The Fed Approves 14 Capital Return Plans. The Federal Reserve has approved the capital return plans of 14 banks of the largest 18 banks. The two that where rejected are Ally Bank and BB&T (BBT). The Fed also gave their conditional approval to Goldman Sachs (GS) and JPMorgan (JPM).  The two banks were told to resubmit their programs by the end of Q3 and "address weaknesses in their capital planning processes."

Upgrades

Best Buy (BBY): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $16.00 to $27.00. Pre-market: 21.62 +0.12 (0.56%)

Novartis (NVS): JPMorgan raised their rating from Neutral to Overweight. Pre-market: 69.78 +0.83 (1.21%)

Downgrades

BB&T Corp (BBT): Sandler O’Neill lowered their rating from Buy to Hold. Pre-market: 30.90 -0.83 (-2.62%)

Charles Schwab (SCHW): Compass Point lowered their rating from Neutral to Sell and placed a target price of $15.00 on the company.

JB Hunt (JBHT): Bernstein lowered their rating from Outperform to Perform and placed a target price of $75.00 on the company. Pre-market: 73.40 -1.11 (-1.49%)

Transocean (RIG): Jefferies lowered their rating from Buy to Hold and lowered their target price from $57.00 to $54.00. Pre-market: 53.20 -0.56 (-1.04%)

Ulta Salon (ULTA): Oppenheimer lowered their rating from Outperform to Perform and placed a target price of $105.00 on the company. Pre-market: 75.51 -12.86 (-14.55%)

Coverage Initiated

Akamai Tech (AKAM): Maxim Group initiated coverage with a Buy rating and target price of $44.00. Pre-market: 35.35 +0.69 (1.99%)

Earning Reports

Aeropostale (ARO): Reported EPS of $0.24 beating estimates by +$0.01. Pre-market: 13.51 -1.00 (-6.89%)

Krispy Kreme (KKD): Reported EPS of $0.11 in-line with estimates. Pre-market: 14.20 -0.75 (-5.02%)

Molycorp (MCP): Reported EPS of -$0.45 missing estimates by -$0.15. Pre-market: 6.17 +0.18 (3.01%)

Ulta Salon (ULTA): Reported EPS of $1.00 beating estimates by +$0.02. Pre-market: 75.51 -12.86 (-14.55%)

Zumiez (ZUMZ): Reported EPS of $0.75 beating estimates by +$0.02.

Markets: 
Futures at 8:38: Dow +0.02%. S&P +0.01%. Nasdaq +0.12%. Crude +0.63% to $93.61. Gold +0.15% at $1593.10.

Europe: London -0.46%. Paris -0.70%. Frankfurt -0.11%. 

Asia: Japan +1.45% to 12561. Hong Kong -0.38% to 22533. China +0.36% to 2278. India -0.73% to 19428. 

Morning Coffee Pre-Market Wall Street News

Heinz to Issue Debt. Reports say that Heinz (HNZ) will offer $2.1 billion worth of bonds and take $12 billion in loans to assist its acquisition by 3G Capital and Berkshire Hathaway (BRK.A/BRK.B). The company believes that the 7.5 year senior notes will go to market in the next few of weeks. BRK.B Pre-market: 103.84 +0.19 (0.18%)

Upgrades

Apple (AAPL): BTIG raised their rating from Neutral to Buy. Pre-market: 432.18 +3.83 (0.89%)

Avon Products (AVP): Stifel Nicholaus raised their rating from Hold to Buy and placed a target price of $26.00 on the company. Pre-market: 20.42 +0.24 (1.19%)

Coca Cola (KO): CLSA raised their rating from Underperform to Outperform and raised their target price from $41.00 to $43.00. Pre-market: 38.82 +0.23 (0.60%)

Eaton Corp. (ETN): Buckingham raised their rating from Neutral to Buy and raised their target price from $63.00 to $75.00. Pre-market: 63.69 +0.27 (0.43%)

Ebay (EBAY): Evercore their rating from Equal Weight to Overweight and placed a target price of $64.00 on the company. Pre-market: 51.71 +0.73 (1.43%)

Downgrades

Airgas (ARG): Morgan Stanley lowered their rating from Overweight to Equal Weight.

Amazon.com (AMZN): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $333.00 to $300.00. Pre-market: 268.99 -6.11 (-2.22%)

Gildan Activewear (GIL): DA Davidson lowered their rating from Buy to Neutral and lowered their target price from $43.00 to $41.00. Pre-market: 38.20 -0.45 (-1.16%)

Coverage Initiated

Chico's FAS (CHS): Ascendiant Capital Markets initiated coverage with a Strong Buy and target price of $26.00. Pre-market: 18.18 +0.18 (1.00%)

JC Penney (JCP): BTIG initiated coverage with a Buy and target price of $22.00. Pre-market: 16.08 +0.43 (2.75%)

SanDisk (SNDK): Macquarie initiated coverage with an Outperform rating and target price of $65.00. Pre-market: 55.03 +0.59 (1.08%)

Urban Outfitters (URBN): Ascendiant Capital Markets initiated coverage with a Buy and target price of $47.00.

Earning Reports

Coldwater Creek (CWTR): Reported EPS of -$0.65 beating estimates by +$0.14.

Hot Topic (HOTT): Reported EPS of $0.29 beating estimates by +$0.02.

Men's Wearhouse (MW): Reported EPS of $-0.07 missing estimates by +$0.01. Pre-market: 32.90 +3.83 (13.18%)

Markets: 
Futures at 8:14: Dow +0.14%. S&P +0.25%. Nasdaq +0.43%. Crude -0.46% to $92.09. Gold -0.55% to $1579.70.

Europe: London +0.38%. Paris +0.79%. Frankfurt +1.02%. 

Asia: Japan +1.16% to 12381. Hong Kong +0.28% to 22619. China +0.28% to 2270. India +1.07% to 19570. 

Client Ginnie Powell-Crawford takes 2nd at Millrose Games.

Client Ginnie Powell-Crawford takes 2nd at Millrose Games.

http://www.ginniecrawford.com/2013/02/19/ginnie-takes-second-at-millrose-games/

Client Tiffany Ofili-Porter wins New Balance Indoor Grand Prix

Client Tiffany Ofili-Porter wins New Balance Indoor Grand Prix

http://uk.eurosport.yahoo.com/photos/janay-deloach-r-u-congratulated-tiffany-porter-britain-photo-022010473.html