President Obama Will Act Alone

President Obama Will Act Alone. During last night’s State of the Union speech President Obama said that he would use his executive power to implement his economic and other policies, while highlighting the gap between the rich and poor that has widened during his administration. President Obama announced a dozen proposals including raising the minimum wage to $10.10 an hour for future federal contract workers that would affect about 560,000 people.  Additionally, some analysts believe he will also attempt to use his executive power to act on immigration reform and gun control, two hot buttons with American’s that many constitutional scholars say would be unconstitutional and illegal. During his speech the President also said he plans to create a government-coordinated retirement savings program that would provide a guaranteed return, but not additional specific are available at this time.

Upgrades:

CIT Group (CIT): Buckingham raised their rating from Neutral to Buy and placed a target price of $54.00 on the company.

VMware (VMW): Raymond James raised their rating from Outperform to Strong Buy and placed a target price of $109.00 on the company. Pre-market: 94.00 -0.94 (-0.99%)

Wal-Mart (WMT): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $80.00 to $87.00. Pre-market: 74.81 +0.14 (0.19%)

Downgrades:

WellPoint (WLP): Monness Crespi lowered their rating from Neutral to Sell. Pre-market: 81.60 -2.70 (-3.20%)

Yahoo! (YHOO): Gabelli lowered their rating from Buy to Hold. Pre-market: 35.90 -2.32 (-6.07%)

Earning Reports:

Amgen (AMGN): Reported EPS of $1.82 beating estimates by +0.14. Pre-market: 117.09 -3.61 (-2.99%)

AT&T (T): Reported EPS of $0.53 beating estimates by +0.03. Pre-market: 32.77 -0.93 (-2.76%)

Boeing (BA): Reported EPS of $1.88 beating estimates by +0.31. Pre-market: 131.75 -5.34 (-3.90%)

Cirrus Logic (CRUS): Reported EPS of $0.89 beating estimates by +0.12. Pre-market: 17.50 -1.24 (-6.62%)

Dow Chemical (DOW): Reported EPS of $0.65 beating estimates by +0.22.

EMC (EMC): Reported EPS of $0.60 beating estimates by +0.01. Pre-market: 25.50 +0.12 (0.47%)

Jetblue Airways (JBLU): Reported EPS of $0.14 beating estimates by +0.01. Pre-market: 8.74 0.00 (0.00%)

Novartis AG (NVS): Reported EPS of $1.20 beating estimates by +0.01. Pre-market: 78.94 -0.62 (-0.78%)

Phillips 66 (PSX): Reported EPS of $1.34 beating estimates by +0.24. Pre-market: 73.00 -2.08 (-2.77%)

VMware (VMW): Reported EPS of $1.01 beating estimates by +$0.01. Pre-market: 94.00 -0.94 (-0.99%)

WellPoint (WLP): Reported EPS of $0.87 in-line with estimates. Pre-market: 81.60 -2.70 (-3.20%)

Yahoo! (YHOO): Reported EPS of $0.46 beating estimates by +0.08. Pre-market: 35.90 -2.32 (-6.07%)

Markets:
Futures at 8:33: Dow -0.49%. S&P -0.45%. Nasdaq -0.46%. Crude -0.15% to $97.27. Gold +1.02% to $1263.70. U.S. 10 Year +10/32 to 2.724%.

Europe: London -0.51%. Paris -0.86%. Frankfurt -0.48%.

Asia: Japan +2.70% to 15384. Hong Kong +0.82% to 22142. China +0.56% to 2050. India -0.18% to 20647.

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