Panic for people with Bitcoins

Panic for people with Bitcoins. One of the largest Bitcoin exchanges has disappeared causing the price of Bitcoins to tank. One of the world’s largest Bitcoin exchanges Mt Gox website is gone. Reports say that the company may have experienced a major security breach and is about to go bankrupt. A leaked document shows that 744,400 bitcoins worth $350M have been stolen from the company.

Upgrades:

Canadian Imperial Bank (CM): ResearchTeam raised their rating from Reduce to Hold.

Ensco PLC (ESV): ResearchTeam raised their rating from Reduce to Hold.

Hormel Foods (HRL): ResearchTeam raised their rating from Reduce to Hold.

McDonalds (MCD): ResearchTeam raised their rating from Reduce to Hold.

Nike (NKE): ResearchTeam raised their rating from Reduce to Hold.

Royal Bank of Canada (RY): ResearchTeam raised their rating from Reduce to Hold.

UnitedHealth (UNH): ResearchTeam raised their rating from Reduce to Hold.

Verizon (VZ): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $54.00 to $57.00. Pre-market: 46.06 -0.17 (-0.37%)

Downgrades:

Sonoco Products (SON): S&P lowered their rating from 3 stars to 1 star.

Tenet Healthcare (THC): CRT Capital lowered their rating from Buy to Fair Value and lowered their rating from $51.00 to $41.50. Pre-market: 47.63 -0.70 (-1.45%)

Coverage Initiated:

Adobe Systems (ADBE): Susquehanna initiated coverage with a Positive rating and target price of $83.00. Pre-market: 68.83 +0.07 (0.09%)

Alaska Air (ALK): Stifel initiated coverage with a Buy rating and target price of $100.00.

Delta Air Lines (DAL): Stifel initiated coverage with a Buy rating and target price of $40.00.

Spirit Airlines (SAVE): Stifel initiated coverage with a Buy rating and target price of $65.00. Pre-market: 56.00 +0.71 (1.28%)

Southwest Airlines (LUV): Stifel initiated coverage with a Hold rating.

United Continental (UAL): Stifel initiated coverage with a Buy rating and target price of $60.00. Pre-market: 46.12 +0.02 (0.04%)

Earning Reports:

EOG Resources (EOG): Reported EPS of $2.00 beating estimates by +$0.05. Pre-market: 183.10 +2.70 (1.50%)

Home Depot (HD): Reported EPS of $0.73 beating estimates by +$0.03. Pre-market: 79.70 +1.83 (2.35%)

Macy’s (M): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 51.64 -1.42 (-2.68%)

Office Depot (ODP): Reported EPS of -$0.03 missing estimates by -$0.07. Pre-market: 4.34 -1.01 (-18.88%)

Toll Brothers (TOLL): Reported EPS of $0.25 beating estimates by +$0.06. Pre-market: 38.30 -0.04 (-0.10%)

Markets: 
Futures at 7:43: Dow -0.13%. S&P -0.22%. Nasdaq -0.17%. Crude -0.89% to $101.90. Gold -0.38% to $1332.90. U.S. 10 Year 0/32 to 2.738%.

Europe: London -1.05%. Paris -0.53%. Frankfurt -0.50%. 

Asia: Japan +1.44% to 15051.6. Hong Kong -0.32% to 22317. China -2.05% to 2034. India +0.20% to 20844. 

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