Wealth Gap Widest in Large Affluent Cities

Wealth Gap Widest in Large Affluent Cities.  A new report indicates the gap between the wealthy and the poor is most extreme in several of the U.S.’s largest cities. The largest disparities in wealth where found to be in the democratically lead cities of Atlanta, Los Angeles, Miami, New York, San Francisco and Washington D.C.  Some economists are pointing out that many of these cities have higher immigrant and illegal alien populations and higher high school dropout rates that they say add to the wealth gap. Of the nation’s 50 biggest cities, just 18 experienced greater income inequality since the recession. The report also found that not all the 50 largest cities saw large wealth gaps. Some Western and Sun Belt cities, such as Mesa, AZ and Arlington, TX that have smaller downtowns had a noticeably smaller wealth gap than the national average.

Upgrades:

Seagate Tech (STX): RBC Capital raised their rating from Sector Perform to Outperform. Pre-market: 51.10 +1.08 (2.16%)

Tim Hortons (THI): Raymond James raised their rating from Market Perform to Outperform.

Total SA (TOT): Goldman Sachs raised their rating from Sell to Neutral. Pre-market: 62.36 +0.94 (1.53%)

Downgrades:

Columbia Sportswear (COLM): McAdams Wright lowered their rating from Hold to Sell.

Groupon (GRPN): RBC Capital lowered their rating from Sector Perform to Underperform and lowered their target price from $11.00 to $7.00. Pre-market: 9.00 -1.28 (-12.44%)

Wal-Mart (WMT): Stifel lowered their rating from Buy to Hold and placed a target price of $83.00 on the company. Pre-market: 73.26 -0.26 (-0.35%)

Earning Reports:

Charter Comm (CHTR): Reported EPS of $0.35 beating estimates by +$0.06.

DISH Network (DISH): Reported EPS of $0.63 beating estimates by +$0.22.

Groupon (GRPN): Reported EPS of $0.04 beating estimates by +$0.02. Pre-market: 9.00 -1.28 (-12.44%)

Hewlett-Packard (HPQ): Reported EPS of $0.90 beating estimates by +$0.06. Pre-market: 30.45 +0.26 (0.86%)

Intuit (INTU): Reported EPS of $0.02 in-line with estimates.

Priceline.com (PCLN): Reported EPS of $8.85 beating estimates by +$0.56. Pre-market: 1,315.93 +32.93 (2.57%)

Markets: 
Futures at 8:02: Dow +0.18%. S&P +0.19%. Nasdaq +0.19%. Crude -0.27% to $102.46. Gold +0.38% to $3121.90. U.S. 10 Year -5/32 to 2.768%

Europe: London +0.09%. Paris +0.27%. Frankfurt +0.13%. 

Asia: Japan +2.88% to 14866. Hong Kong +0.78% to 22568. China -1.17% to 2114. India +0.80% to 20701. 

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