Posts
Coca-Cola Announces Reorganization. Coca-Cola (KO) has announced a major reorganization
of its Americas business. The company
will split its North American unit into two units as part of their strategy to
return to a franchise model in the U.S. Additionally, Steve Cahillane head
of Americas, who was considered a possible successor to CEO Muhtar Kent will
depart the company. This now leave International boss Ahmet Bozer as the number
two in the company and possible CEO successor. Pre-market: 39.64 +0.43 (1.10%)
Upgrades:
Advance Auto Parts (AAP):
RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $131.00 on the company.
Amazon.com (AMZN): ISI
Group raised their rating from Buy to Strong
Buy. Pre-market: 385.25 +4.00 (1.05%)
Bed Bath & Beyond (BBBY): ISI Group raised their rating from Cautious to Neutral.
FedEx (FDX):
Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $124.00 to $190.00. Pre-market: 138.00 +1.66 (1.22%)
Northern Trust (NTRS):
Macquarie raised their rating from Neutral to Outperform.
Quicksilver (ZQK): B. Riley raised
their rating from Neutral to Buy and
raised their target price from $6.50 to $10.00. Pre-market: 7.82 +0.09 (1.16%)
United States Steel (X): Cowen raised
their rating from Neutral to Outperform.
Western Digital (WDC): Citigroup
raised their rating from Neutral to Buy
and raised their target price from $71.00 to $100.00.
Downgrades:
BP plc (BP): UBS
lowered their rating from Buy to Neutral.
Pre-market: 45.74 -0.43 (-0.93%)
Restoration Hardware (RH): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price
from $92.00 to $65.00. Pre-market: 60.00 -5.27 (-8.07%)
Coverage Initiated:
Chevron (CVX): RBC Capital
initiated coverage with a Sector Perform
rating and placed a target price of $120.00 on the company. Pre-market: 121.20 +0.21 (0.17%)
Coca-Cola (KO): Janney Capital initiated
coverage with a Buy rating and placed
a target price of $52.00 on the company. Pre-market: 39.64 +0.43 (1.10%)
Exxon Mobil (XOM): RBC Capital
initiated coverage with an Outperform
rating and placed a target price of $105.00 on the company. Pre-market: 95.75 +0.39 (0.41%)
Earning Reports:
Adobe Systems (ADBE): Reported EPS of $0.32 in-line with estimates. Pre-market: 57.60 +3.61 (6.69%)
Quicksilver (ZQK): Reported EPS of -$0.04 missing estimates by -$0.08. Pre-market: 7.82 +0.09 (1.16%)
Restoration Hardware (RH): Reported EPS of $0.32 beating estimates by +$0.04. Pre-market: 60.00 -5.27 (-8.07%)
Markets:
Futures at 6:31: Dow +0.29%. S&P +0.38%. Nasdaq +0.41%. Crude -0.45% to $97.06. Gold +0.24% to $1228.30. U.S. 10 Year +2/32 to 2.877%.
Futures at 6:31: Dow +0.29%. S&P +0.38%. Nasdaq +0.41%. Crude -0.45% to $97.06. Gold +0.24% to $1228.30. U.S. 10 Year +2/32 to 2.877%.
Europe:
London +0.16%.
Paris +0.28%.
Frankfurt +0.18%.
Asia: Japan +0.40% to
15403. Hong Kong +0.12% to 23246. China -0.31% to 2196. India -1.00% to
20716.
No comments:
Post a Comment