Government Wants BofA Fined Again.

Government Wants BofA Fined Again. The U.S. government is seeking to fine of Bank of America (BAC) again. This comes after a long list of resent fines, with the most recent for discrimination against black employees. The government is looking to fine the troubled bank the maximum $864 million that is allowed for their Countrywide loan program called. "Hustle." The program was designed to accelerate the creation and sale of loans to Fannie Mae (FNMA) and Freddie Mac (FMCC).

Upgrades:

Best Buy (BBY): UBS raised their rating from Neutral to Buy and raised their target price from $45.00 to $49.00. Pre-market: 43.15 +0.74 (1.74%)

ExxonMobil (XOM): Argus raised their rating from Hold to Buy and placed a target price of $104.00 on the company. Pre-market: 92.86 +0.13 (0.14%)

INVESCO Ltd. (IVZ): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $33-$37 to $38-$42.

TD Ameritrade (AMTD): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $33.00 on the company.

Downgrades:

Deutsche Telekom (DTEGY): Goldman Sachs lowered their rating from Neutral to Sell.

Tata Motors (TTM): Nomura lowered their rating from Buy to Neutral. Pre-market: 29.88 -0.89 (-2.89%)

Coverage Initiated:

Chico’s FAS (CHS): Goldman Sachs initiated coverage with a Neutral rating and target price of $17.00.

Express (EXPR): Goldman Sachs initiated coverage with a Buy rating and target price of $28.00.

Movado (MOV): KeyBanc initiated coverage with a Hold rating.

Twitter (TWTR): Sterne Agee initiated coverage with a Neutral rating. Pre-market: 40.84 -0.81 (-1.94%)

Markets: 
Futures at 8:20: Dow +0.10%. S&P +0.10%. Nasdaq +0.07%. Crude -0.22% to $94.37. Gold -0.12% to $1283.00. U.S. 10 Year +2/32 2.747%

Europe: London +0.29%. Paris +0.48%. Frankfurt +0.18%. 

Asia: Japan +1.30% to 14270. Hong Kong +1.43% to 23070. China +0.16% to 2109. India -0.85% to 20491. 

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