U.S.
Housing Numbers Miss Estimates. The
Commerce Department reported that July’s housing starts rose 5.9% to a
seasonally adjusted annual rate of 896,000 units. Wall Street Economists had estimated
that housing starts would come in at 900,000 units. June's numbers were
revised upward to 846,000-units from the previously reported. Permits to
build new homes increased 2.7% in July to a 943,000-unit pace also missing
estimates. Economists had expected permits to rise to 945,000. Wall Street
analysts are pointing to higher interest rates as the cause of the misses.
Upgrades:
Applied Materials (AMAT): DA Davidson raised their rating from Neutral to Buy and raised their target price from
$15.00 to $18.00.
JetBlue Airlines (JBLU):
Raymond James raised their rating from Underperform to Market Perform.
Pandora Media (P):
Goldman Sachs raised their rating from Neutral to Buy and placed a target price of $27.00 on the company.
Wal-Mart
(WMT): S&P raised their rating from 3 Stars to 4 Stars.
Downgrades:
Alcoa (AA): Bank of America Merrill Lynch lowered their rating from
Neutral to Underperform and placed a
target price of $8.00 on the company.
Colgate-Palmolive (CL): Argus lowered their rating from Buy to Hold.
General Mills (GIS): Jefferies lowered their rating from Hold to Underperform and lowered their target
price from $45.00 to $44.00.
Noble Energy (NE): ISI Group lowered their rating from Strong Buy to Buy and placed a target price of $67.00
on the company.
Nordstrom (JWN): Sterne
Agee lowered their rating from Buy to Neutral
and placed a target price of $62.00 on the company.
Transocean (RIG):
Johnson Rice lowered their rating from Overweight to Underweight.
Coverage Initiated:
Xcel Energy (XEL): UBS initiated coverage with a Neutral rating and target price of $30.00.
Earning Reports:
Applied Materials (AMAT): Reported EPS of $0.18 missing estimates by -$0.01.
Dell (DELL):
Reported EPS of $0.25 beating estimates by +$0.01.
Nordstrom (JWN):
Reported EPS of $0.93 beating estimates by +$0.05.
Markets:
Futures at 9:01: Dow 0.00%. S&P +0.10%. Nasdaq +0.27%. Crude +0.08% to $107.44. Gold +0.34% at $1365.40. U.S. 10 Year -1/32 2.778%
Futures at 9:01: Dow 0.00%. S&P +0.10%. Nasdaq +0.27%. Crude +0.08% to $107.44. Gold +0.34% at $1365.40. U.S. 10 Year -1/32 2.778%
Europe:
London 0.00%.
Paris +0.06%.
Frankfurt -0.36%.
Asia: Japan -0.75% to
13650. Hong Kong -0.10% to 22518. China -0.65% to 2068.
India -3.97% to 18618.
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