Intel Reports Mixed Results

Intel Reports Mixed Results. Intel (INTC) reported that their Q4 net profit rose +6.4% to $2.63B and that the company’s revenue increased +2.6% to $13.83B topping forecast. But the company also report EPS of only $0.51 missing Wall Street estimates by a penny. Intel also said that it "saw the (PC) market stabilize in the back half" of 2013. Sales at the PC CPU division were flat and operating profit rose 20%. PC sales have been in a decline for some time as consumers switch to mobile devices like smartphones and tablets. Pre-market: 25.29 -1.25 (-4.71%)

Upgrades:

American Express (AXP): Buckingham raised their rating from Neutral to Buy and raised their target price from $90.00 to $104.00. Pre-market: 89.15 +1.37 (1.56%)

American Express (AXP): Susquehanna raised their rating from Neutral to Positive and raised their target price from $90.00 to $107.00. Pre-market: 89.15 +1.37 (1.56%)

IBM (IBM): CLSA raised their rating from Outperform to Buy and raised their target price from $215.00 to $225.00. Pre-market: 189.00 +0.24 (0.13%)

Downgrades:

Best Buy (BBY): UBS lowered their rating from Buy to Neutral and lowered their target price from $48.00 to $29.00. Pre-market: 27.10 +0.27 (1.01%)

Best Buy (BBY): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $45.00 to $28.00. Pre-market: 27.10 +0.27 (1.01%)

Coverage Initiated:

Activision Blizzard (ATVI): CRT Capital initiated coverage with a Buy rating and target price of $23.00. Pre-market: 17.41 +0.08 (0.46%)

Electronic Arts (EA): CRT Capital initiated coverage with a Buy rating and target price of $26.00. Pre-market: 22.80 +1.26 (5.85%)

LinkedIn (LNKD): Topeka initiated coverage with a Hold rating. Pre-market: 229.50 -1.06 (-0.46%)

Nike (NKE): Macquarie initiated coverage with a Neutral rating and target price of $80.00. Pre-market: 74.82 +0.03 (0.04%)

Take-Two Interactive (TTWO): CRT Capital initiated coverage with a Fair Value rating and target price of $19.00. Pre-market: 16.68 0.00 (0.00%)

Earning Reports:

American Express (AXP): Reported EPS of 1.21 missing estimates by -$0.04. Pre-market: 89.15 +1.37 (1.56%)

BNY Mellon (BK): Reported EPS of $0.54 in-line with estimates. Pre-market: 33.46 -0.46 (-1.36%)

Comerica (CMA): Reported EPS of $0.77 beating estimates by +$0.03. Pre-market: 47.67 +0.24 (0.51%)

General Electric (GE): Reported EPS of $0.53 in-line with estimates. Pre-market: 26.55 -0.65 (-2.39%)

Intel (INTC): Reported EPS of 0.51 missing estimates by -$0.01. Pre-market: 25.29 -1.25 (-4.71%)

Morgan Stanley (MS): Reported EPS of $0.50 beating estimates by +$0.08. Pre-market: 32.45 +0.45 (1.41%)

Sallie Mae (SLM): Reported EPS of 0.61 missing estimates by -$0.12.

Schlumberger (SLB): Reported EPS of $1.35 beating estimates by +$0.02. Pre-market: 89.80 +1.19 (1.34%)

SunTrust Bank (STI): Reported EPS of $0.77 beating estimates by +$0.08. Pre-market: 38.55 +0.54 (1.42%)

Markets: 
Futures at 8:32: Dow +0.08%. S&P +0.05%. Nasdaq -0.05%. Crude +0.79% to $94.70. Gold +0.30% to $1243.90. U.S. 10 Year +3/32 to 2.837%.

Europe: London -0.01%. Paris -0.04%. Frankfurt +0.08%. 

Asia: Japan -0.08% to 15734. Hong Kong +0.64% to 23133. China -0.93% to 2005. India -0.95% to 21063. 

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Twitter Begins Trading.

Twitter Begins Trading. Shares of Twitter (TWTR) will begin trading this morning on the NYSE after being priced last night at $26.00. The price was above the already increased $23-$25 range. Twitter raised $1.82B by selling 70M shares and it will have a market cap of $14.2B. CEO Dick Costolo said "There's nothing structural about Twitter that prevents us from having the kind of margin profiles of our peer group." Currently Twitter generates no profits.

Downgrades:

Caterpillar (CAT): ISI Group lowered their rating from Buy to Neutral. Pre-market: 83.91 -0.31 (-0.37%)

Deere & Co (DE): ISI Group lowered their rating from Neutral to Cautious. Pre-market: 81.85 +0.05 (0.06%)

Garmin (GRMN): Bank of America Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $51.00 to $46.00.

Qualcomm (QCOM): Northland Securities lowered their rating from Outperform to Market Perform. Pre-market: 67.32 -2.42 (-3.47%)

United Rentals (UTI): ISI Group lowered their rating from Strong Buy to Buy.

Coverage Initiated:

Twitter (TWTR): Evercore initiated coverage with an Overweight rating and target price of $43.00.

Twitter (TWTR): Cantor initiated coverage with a Buy rating and target price of $32.00.

Earning Reports:

Activision Blizzard (ATVI): Reported EPS of $0.08 beating estimates by +$0.04. Pre-market: 16.10 -0.43 (-2.60%)

Beazer Homes (BZH): Reported EPS of $0.36 beating estimates by +$0.10. Pre-market: 19.00 +0.95 (5.26%)

Calpine (CPN): Reported EPS of $0.70 missing estimates by -$0.09. Pre-market: 20.55 +0.81 (4.10%)

CBS (CBS): Reported EPS of $0.76 in-line with estimates. Pre-market: 59.60 -0.02 (-0.03%)

Chiquita Brands (CQB): Reported EPS of -$0.38 missing estimates by -$0.15.

Huntington Ingalls (HII): Reported EPS of $1.17 beating estimates by +$0.33.

Tim Hortons (THI): Reported EPS of $0.77 in-line with estimates.

TreeHouse Foods (THS): Reported EPS of $0.82 beating estimates by +$0.05.

Qualcomm (QCOM): Reported EPS of $1.05 missing estimates by -$0.03. Pre-market: 67.40 -2.34 (-3.36%)

Transocean (RIG): Reported EPS of $1.37 beating estimates by +$0.30. Pre-market: 51.08 +2.05 (4.18%)

Wendy’s (WEN): Reported EPS of $0.08 beating estimates by +$0.02. Pre-market: 8.14 -0.95 (-10.45%)

Markets: 
Futures at 8:05: Dow +0.35%. S&P +0.40%. Nasdaq +0.25%. Crude +0.03% to $94.83. Gold -0.24% to $1314.60. U.S. 10 Year +4/32 2.628%.

Europe: London +0.40%. Paris +1.36%. Frankfurt +1.28%. 

Asia: Japan -0.76% to 14228. Hong Kong -0.68% to 22881. China -0.48% to 2129. India -0.35% to 20823. 

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