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Bank of America Being Investigated Again. Once again Bank of America seems to be in trouble with
regulators. This time reports say that the
Department of Justice and the Commodity Futures Trading Commission are
investigating Bank of America (BAC) for improper trading. The allegations
are that the bank improperly carried out its own transactions before executing orders
for clients. The probes appear to shed light on an The investigation could
pertain to an FBI bulletin that said it suspected traders at two banks of
conspiring to manipulate rates on major orders from Fannie Mae (FNMA)
and Freddie Mac (FMCC), and of front running the GSE’s in the markets
for interest-rate swaps.
Upgrades:
AGL Resources (GAS): ResearchTeam
raised their rating from Reduce to Hold.
Potash (POT):
Raymond James raised their rating from Market Perform to Outperform and raised their target price from $30.00 $37.00.
Downgrades:
Cisco Systems (CSCO):
JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $21.00 to $17.00.
ConocoPhillips (COP):
Guggenheim lowered their rating from Buy to Neutral and lowered their target price from $80.00 to $73.00.
Coverage Initiated:
AMC Entertainment (AMC): B.
Riley initiated coverage with a Neutral rating and target price of $24.00.
AMC Entertainment (AMC): Stifel
initiated coverage with a Buy rating
and target price of $24.00.
AMC Entertainment (AMC): Credit
Suisse initiated coverage with an Outperform
rating and target price of $25.00.
Cabelvision (CVC): Buckingham
initiated coverage with a Neutral
rating and target price of $18.00.
DIRECTV (DTV):
Buckingham initiated coverage with a Buy
rating and target price of $85.00.
Dish Network (DISH): Buckingham
initiated coverage with a Neutral
rating and target price of $60.00.
Finish Line (FINL): initiated
coverage with a Neutral rating and
target price of $28.00.
Foot Locker (FL):
JPMorgan initiated coverage with an Overweight
rating and target price of $47.00.
Earning Reports:
Caterpillar (CAT):
Reported EPS of $1.54 beating estimates by +$0.36.
Rayonier (RYN):
Reported EPS of $0.64 beating estimates by +$0.13.
Regis (RGS): Reported
EPS of -$0.04 missing estimates by -$0.06.
Royal Caribbean (RCL): Reported EPS of $0.23 beating estimates by +$0.05.
Markets:
Futures at 6:20: Dow 0.0%. S&P +0.2%. Nasdaq +0.1%. Crude +0.2% to $96.79. Gold +0.4% to $1269.10.
Futures at 6:20: Dow 0.0%. S&P +0.2%. Nasdaq +0.1%. Crude +0.2% to $96.79. Gold +0.4% to $1269.10.
Europe:London -1.5%. Paris -0.3%.
Frankfurt -0.5%.
Asia: Japan -2.5% to
15006. Hong Kong -2.1% to 21976. China -1% to 2033. India -2% to
20707.
#TopWealthManager # RLPaler #WallStreet # PreMarket #WealthManagement #AnalystsRatings
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