IMF Worries About Emerging Markets Economic Growth

IMF Worries About Emerging Markets Economic Growth. The International Monetary Fund has lowered their world economic outlook mostly due to slower projected growth in Brazil and Russia. The IMF now projects that world economic activity will grow by 3.6% in 2014 and 3.7% in 2015. The U.S. economy is expected to grow at a modest 2.8% in 2014 and 3% in 2015.

Upgrades:

Eli Lilly (LLY): BMO Capital raised their rating from Underperform to Market Perform and placed a target price of $62.00 on the company. Pre-market: 57.99 -0.63 (-1.07%)

Google (GOOGL): S&P raised their rating from 3 Stars to 4 Stars. Pre-market: 545.04 +4.41 (0.82%)

Nike (NKE): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $87.00 on the company. Pre-market: 72.24 +1.41 (1.99%)

Downgrades:

American Eagle Outfitters (AEO): Janney Capital lowered their rating from Buy to Neutral and placed a target price of $10.00 on the company. Pre-market: 11.60 -0.08 (-0.68%)

Canadian Imperial Bank (CM): First Call lowered their rating from Buy to Hold.

Cisco Systems (CSCO): Wunderlich lowered their rating from Buy to Hold and lowered their target price from $25.00 to $24.00. Pre-market: 22.75 -0.10 (-0.44%)

Dr Pepper Snapple (DPS): Wells Fargo lowered their rating from Market Perform to Underperform.

Royal Caribbean (RCL): Pareto lowered their rating from Buy to Hold. Pre-market: 52.73 -0.03 (-0.06%)

Coverage Initiated:

Pinnacle Foods (PF): Deutsche Bank initiated coverage with a Buy and placed a target price of $32.00 on the company.

Earning Reports:

Intl Speedway (ISCA): Reported EPS of $0.33 missing estimates by -$0.01.

Markets: 
Futures at 8:38: Dow +0.03%. S&P +0.05%. Nasdaq +0.23%. Crude +0.85% to $101.33. Gold +1.18% to $1313.80. US 10 Year -2/32 to 2.712%

Europe: London -0.85%. Paris -0.71%. Frankfurt -0.66%. 

Asia: Japan -1.36% to 14607. Hong Kong +0.98% to 22597. China +1.92% to 2098. India closed. 

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