Gold Prices Fall.

Gold Prices Fall. Gold has dropped to $1200 an ounce for the first time since June after the Fed's decided to taper its QE program by $10B a month. , Gold prices have fallen over -28% this year and is currently trading at $1.201.50 down -2.74%. Silver was -3.7% at $19.32.

Upgrades:

Sirius XM (SIRI): Wunderlich raised their rating from Hold to Buy and raised their target price from $4.20 to $4.50.

Downgrades:

Ford Motor Co. (F): Craig-Hullum lowered their rating from Buy to Hold and lowered their target price from $21.00 to $16.00.

Comerica (CMA): Macquarie lowered their rating from Neutral to Underperform and placed a target price of $41.00 on the company.

JPMorgan Chase (JPM): SunTrust lowered their rating from Buy to Neutral and lowered their target price from $62.00 to $59.00.

Coverage Initiated:

Edison International (EIX): Tudor Pickering initiated coverage with an Accumulate rating.

Ralph Lauren (RL): Stephens initiated coverage with an Equal Weight rating and target price of $184.00.

Southwest Airlines (LUV): UBS initiated coverage with a Buy rating and target price of $25.00.

Standard Pacific (SPF): Sterne Agee initiated coverage with a Neutral rating and target price of $8.00.

Tiffany & Co (TIF): Stephens initiated coverage with an Equal Weight rating and target price of $95.00.

Xylem (XYL): Sterne Agee initiated coverage with a Neutral rating and target price of $32.00.

Earning Reports:

Accenture (ACN): Reported EPS of $1.15 beating estimates by +$0.05. Pre-market: 78.08 +2.46 (3.25%)

ConAgra (CAG): Reported EPS of $0.62 beating estimates by +$0.06. Pre-market: 33.09 +1.30 (4.09%)

KB Home (KBH): Reported EPS of $0.31 missing estimates by -$0.16. Pre-market: 16.95 -0.60 (-3.42%)

Oracle (ORCL): Reported EPS of $0.69 beating estimates by +$0.02. Pre-market: 35.34 +0.74 (2.14%)

Paychex (PAYX): Reported EPS of $0.43 beating estimates by +$0.01. Pre-market: 44.00 +0.68 (1.57%)

Rite Aid (RAD): Reported EPS of $0.04 in-line with estimates. Pre-market: 5.42 -0.34 (-5.90%)

Winnebago Inds (WGO): Reported EPS of $0.40 beating estimates by +$0.02. Pre-market: 31.65 +0.01 (0.03%)

Markets: 
Futures at 8:59: Dow -0.42%. S&P -0.51%. Nasdaq -0.53%. Crude -0.09% to $97.71. Gold -2.74% to $1201.50. U.S. 10 Year -13/32 to 2.944%.

Europe: London +0.87%. Paris +0.93%. Frankfurt +0.94%. 

Asia: Japan +1.74% to 15859. Hong Kong -1.10% to 22889. China -0.95% to 2128. India -0.73% to 20709. 

#RLPaler #WallStreet #PreMarket #WealthManagement#EarningReports #AnalystsRatings #Gold

JCPenny Received Inquiry From Regulators.

JCPenney Received Inquiry From Regulators. Troubled retailer J.C. Penney (JCP) has received a letter of inquiry from the SEC according to reports. The request is for information about the company’s "liquidity, cash position, and debt and equity financing." Regulators are also requesting information about the company’s recent stock offering. Pre-market: 8.65 -0.20 (-2.26%)

Upgrades:

Boston Scientific (BSX): Cowen raised their rating from Market Perform to Outperform. Pre-market: 11.48 +0.14 (1.23%)

Dollar General (DG): Goldman Sachs raised their rating from Neutral to Conviction Buy and raised their target price from $64.00 to $71.00.

Infosys (INFY): Cowen raised their rating from Market Perform to Outperform and raised their target price from $55.00 to $65.00. Pre-market: 54.95 +1.08 (2.00%)

Intel (INTC): Drexel Hamilton raised their rating from Hold to Buy and raised their target price from $26.00 to $30.00. Pre-market: 24.93 +0.67 (2.76%)

Intel (INTC): Citigroup raised their rating from Neutral to Buy. Pre-market: 24.93 +0.67 (2.76%)

Downgrades:

Accenture (ACN): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $92.00 to $72.00. Pre-market: 75.66 -0.13 (-0.17%)

Family Dollar (FDO): Sterne Agee lowered their rating from Neutral to Underperform and placed a target price of $56.00 on the company. Pre-market: 67.30 -0.30 (-0.44%)

IBM (IBM): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $234.00 to $165.00. Pre-market: 176.79 +0.71 (0.40%)

Tyco Intl (TYC): Argus lowered their rating from Buy to Hold. Pre-market: 37.40 +0.15 (0.40%)

Coverage Initiated:

Chevron (CVX): HSBC initiated coverage with an Overweight rating and target price of $138.00. Pre-market: 122.15 +1.05 (0.87%)

Ensco (ESV): FBR Capital initiated coverage with a Market Perform rating and target price of $62.00.

Exxon Mobil (XOM): HSBC initiated coverage with an Underweight rating and target price of $92.00. 

Pre-market: 94.95 +0.82 (0.87%)

National Oilwell (NOV): FBR Capital initiated coverage with an Outperform rating and target price of $100.00.

Nokia (NOK): JPMorgan initiated coverage with an Overweight rating and target price of $10.80. Pre-market: 7.84 +0.11 (1.42%)

Earning Reports:

American Eagle (AEO): Reported EPS of $0.19 beating estimates by +$0.01. Pre-market: 15.75 -0.65 (-3.96%)

Big Lots (BIG): Reported EPS of -$0.16 missing estimates by -$0.08. Pre-market: 33.80 -3.33 (-8.97%)

Diamond Foods (DMND): Reported EPS of $0.18 beating estimates by +$0.01. Pre-market: 23.00 -1.14 (-4.72%)

Five Below (FIVE): Reported EPS of $0.05 beating estimates by +$0.01. Pre-market: 45.25 -2.50 (-5.24%)

Pacific Sunwear (PSUN): Reported EPS of -$0.05 in-line with estimates. Pre-market: 3.20 +0.44 (15.94%)

Ulta Salon (ULTA): Reported EPS of $0.72 missing estimates by -$0.02. Pre-market: 96.26 -21.74 (-18.42%)

Zumiez (ZUMZ): Reported EPS of -$0.46 in-line with estimates. Pre-market: 25.20 -1.04 (-3.96%)

Markets: 
Futures at 6:20: Dow +0.3%. S&P +0.4%. Nasdaq +0.3%. Crude to $97.24. Gold -0.2% to $1229.60. 

Europe: London +0.4%. Paris +0.1%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 15300. Hong Kong +0.1% to 23743. China -0.4% to 2237. India +0.15% to 20989. 

#RLPaler #WallStreet #PreMarket #WealthManagement#EarningReports #AnalystsRatings

Morning Coffee Pre-Market Wall Street News

Govt. Set to Shut Down. The U.S. federal government is set to shut down tonight after midnight if a funding agreement is not worked out. Republican-led House passed a measure to fund the government that included a one-year delay to the individual mandate to Obamacare.  It also repealed the tax on medical devices. Businesses have already received the one-year delay. The Democrat-led Senate is due to meet today at 2 pm and they are expected to reject the House funding measures.

Upgrades:

Accenture (ACN): Societe Generale raised their rating from Sell to Hold and raised their target price from $70.00 to $75.00.

BlackBerry (BBRY): Bernstein raised their rating from Underperform to Market Perform and placed a target price of $7.00 on the company. Pre-market: 7.93 -0.10 (-1.25%)

CIT Group (CIT): Janney Capital raised their rating from Neutral to Buy and raised their target price from $52.00 to $58.00.

Colgate-Palmolive (CL): Morgan Stanley raised their rating from Equal Weight to Overweight and placed a target price of $68.00 on the company.

JM Smucker (SJM): Citigroup raised their rating from Neutral to Buy and raised their target price from $115.00 to $119.00.

Marathon Oil (MRO): Argus raised their rating from Hold to Buy and placed a target price of $42.00 on the company. Pre-market: 34.70 -0.20 (-0.57%)

Xilinx (XLNX): Pacific Crest raised their rating from Sector Perform to Outperform and placed a target price of $55.00 on the company. Pre-market: 46.24 -0.30 (-0.64%)

Downgrades:

J. C. Penney (JCP): Maxim Group lowered their rating from Buy to Hold. Pre-market: 8.79 -0.26 (-2.87%)

Earning Reports:

Cal-Maine Foods (CALM): Reported EPS of $0.36 missing estimates by -$0.13.

Omnova Solutions (OMN): Reported EPS of $0.19 missing estimates by -$0.03.

Markets: 
Futures at 6:20: Dow -0.84%. S&P -0.90%. Nasdaq -0.65%. Crude -1.22% to $101.59. Gold -0.46% to $1332.70. U.S. 10 Year +4/32 2.613%. 

Europe: London -0.81%. Paris -1.1%. Frankfurt -0.91%. 

Asia: Japan -2.06% to 14455.8. Hong Kong -1.50% to 22860. China +0.68% to 2175. India -1.76% to 19,380. 

Morning Coffee Pre-Market Wall Street News

Nike Beats EPS Estimates. Nike (NKE) shares are 7% higher premarket after the company reported EPS that beat Wall Street estimates. The company reported FQ1 EPS of $0.86 beat estimates of $0.78. Profits at the company jumped 38% to $780M and revenue rose 8% to an expected $6.97B. Nike saw high demand in the U.S. and many international markets for its athletic products, except for China.  Global futures orders, a leading indicator for top line growth, rose 8%. Pre-market: 75.36 +5.02 (7.14%)

Upgrades:

Nike (NKE): Sterne Agee raised their rating from Neutral to Buy. Pre-market: 75.36 +5.02 (7.14%)

Occidental Petroleum (OXY): Susquehanna raised their rating from Neutral to Positive and placed a target price of $114.00 on the company. Pre-market: 93.57 -0.01 (-0.01%)

Downgrades:

Bank of America (BAC): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 13.99 -0.09 (-0.64%)

Goldman Sachs (GS): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 161.50 -0.79 (-0.49%)

International Game Technology (IGT): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $22.00 on the company. After Hours: 20.60 -0.07 (-0.34%)

International Paper (IP): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $54.00 to $51.00. Pre-market: 46.50 -0.79 (-1.67%)

Marathon Oil (MRO): Stifel lowered their rating from Buy to Hold. Pre-market: 35.00 -0.28 (-0.79%)

Coverage Initiated:

Masco Corp (MAS): FBR Capital initiated coverage with a Market Perform rating and target price of $24.00.

Owens Corning (OC): FBR Capital initiated coverage with an Outperform rating and target price of $50.00.

Earning Reports:

Accenture (ACN): Reported EPS of $1.01 missing estimates by -$0.01. After Hours: 72.90 -2.97 (-3.91%)

BlackBerry (BBRY): Reported EPS of -$0.47 in-line with estimates. Pre-market: 8.00 +0.05 (0.63%)

Finish Line (FINL): Reported EPS of $0.54 beating estimates by +$0.08. Pre-market: 25.00 +2.61 (11.66%)

Nike (NKE): Reported EPS of $0.86 beating estimates by +$0.08. Pre-market: 75.36 +5.02 (7.14%)

Thor Industries (THO): Reported EPS of $1.04 beating estimates by +$0.09.

Markets:

Futures at 6:20: Dow -0.31%. S&P -0.43%. Nasdaq -0.34%. Crude -0.57% to $102.49. Gold +0.14% at $1325.90. U.S. 10 Year +6/32 2.630%.

Europe:  London -0.82%. Paris -0.18%. Frankfurt -0.27%. 

Asia: Japan -0.26% to 14760. Hong Kong +0.35% to 23207. China +0.20% to 2160. India -0.84% to 19727. 

Morning Coffee Pre-Market Wall Street News

Home Prices Rise. Home prices in May rose the most in seven years according to CoreLogic. Prices were up +12.2% compared to May of last year and up +2.6% from April. This was the largest increase since February 2006. Excluding distressed sales, which include foreclosures and short sales, prices were up +11.6% on a yearly basis. The analysts on Wall Street forecast prices will rise by another +2.9% in June for a yearly gain of +13.2%. Nevada saw the biggest price increases, followed by Arizona , California,  Hawaii and Oregon.

Upgrades:

JPMorgan Chase (JPM): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $55.00 to $64.00. Pre-market: 52.65 +0.16 (0.30%)

Las Vegas Sands (LVS): ISI Group raised their rating from Neutral to Buy.

Quicksilver (ZQK): B. Riley raised their rating from Neutral to Buy and placed a target price of $9.25 on the company.

Downgrades:

Accenture (ACN): Argus lowered their rating from Buy to Hold. Pre-market: 71.21 -0.89 (-1.23%)

Barrick Gold (ABX): Jefferies lowered their rating from Buy to Hold and lowered their target price from $30.00 to $14.00.

Newmont Mining (NEM): Jefferies lowered their rating from Hold to Underperform and lowered their target price from $30.00 to $18.00.

Pfizer (PFE): Standpoint Research lowered their rating from Hold to Sell. Pre-market: 27.56 -0.22 (-0.79%)

Tractor Supply Co (TSCO): Nomura lowered their rating from Buy to Neutral. Pre-market: 114.89 -1.49 (-1.28%)

Coverage Initiated:

Groupon (GRPN): Wunderlich initiated coverage with a Buy rating and target price of $11.00.

Ryder Systems (R): Wunderlich initiated coverage with a Buy rating and target price of $72.00.

Earning Reports:

Acuity Brands (AYI): Reported EPS of $0.97 beating estimates by +$0.10. Pre-market: 79.00 +3.07 (4.04%)

Constellation Brands (STZ): Reported EPS of $0.38 missing estimates by -0.03. Pre-market: 52.38 -0.77 (-1.45%)     

      

Markets: 
Futures at 8:18: Dow +0.01%. S&P -0.07%. Nasdaq +0.14%. Crude +0.35% to $98.33. Gold -0.14% to $1254.00.

Europe: London -0.45%. Paris -0.74%. Frankfurt -1.05%. 

Asia: Japan +1.78% to 14099. Hong Kong -0.70% to 20659. China +0.57% to 2007. India -0.58% to 19464.