Overseas Business Activity Slows

Overseas Business Activity Slows. Business activities in both China and the Eurozone are continuing to slow. For the fifth straight month in China, the flash manufacturing PMI fell to 48.1 in March from 48.5 in February and missing economist estimates of 48.7. In the Eurozone the flash composite PMI fell to 53.2 from 53.3 in February but topped economist consensus of 52.6. The latest PMI survey signals a 0.5% increase in Q1 GDP after growth of 0.3% in Q4.

Upgrades:

Boston Scientific (BSX): Bernstein raised their rating from Market Perform to Outperform and raised their target price from $12.00 to $15.00. Pre-market: 13.07 +0.25 (1.95%)

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

Ross Stores (ROST): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $79.00 to $81.00. Pre-market: 74.40 +1.43 (1.96%)

United Continental Holdings (UAL): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $52.00 on the company. Pre-market: 45.02 +0.69 (1.56%)

US Bancorp (USB): Atlantic Equities raised their rating from Underweight to Neutral. Pre-market: 43.08 +0.06 (0.14%)

VMware (VMW): Sterne Agee raised their rating from Neutral to Buy. Pre-market: 110.33 +1.12 (1.03%)

Wells Fargo (WFC): Atlantic Equities raised their rating from Underweight to Neutral. Pre-market: 49.50 +0.38 (0.77%)

Yelp (YELP): JMP Securities raised their rating from Market Perform to Outperform and placed a target price of $113.00 on the company. Pre-market: 86.00 +2.57 (3.08%)

Downgrades:

Abbott (ABT): ResearchTeam lowered their rating from Hold to Reduce.

AFLAC (AFL): ResearchTeam lowered their rating from Hold to Reduce.

Bank of America (BAC): Alantic Equities lowered their rating from Overweight to Neutral and lowered their target price from $20.00 to $18.50. Pre-market: 45.02 +0.69 (1.56%)

National Oilwell (NOV): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 74.58 +0.11 (0.15%)

Nike (NKE): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 75.49 +0.28 (0.37%)

Tiffany & Co. (TIF): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $101.00 to $100.00. Pre-market: 89.11 -1.62 (-1.79%)

Coverage Initiated:

T-Mobile (TMUS): Evercore initiated coverage with an Equal Weight rating and target price of $34.00.

Markets: 
Futures at 8:34: Dow +0.20%. S&P +0.26%. Nasdaq +0.31%. Crude +0.52% to $99.98. Gold -0.97% to $1323.10. U.S. 10 Year -6/32 to 2.768%.

Europe: London -0.13%. Paris -0.20%. Frankfurt -0.23%. 

Asia: Japan +1.77% to 14475.3. Hong Kong +1.91% to 21846. China +0.91% to 2066. India +1.38% to 22055. 

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