Panic for people with Bitcoins

Panic for people with Bitcoins. One of the largest Bitcoin exchanges has disappeared causing the price of Bitcoins to tank. One of the world’s largest Bitcoin exchanges Mt Gox website is gone. Reports say that the company may have experienced a major security breach and is about to go bankrupt. A leaked document shows that 744,400 bitcoins worth $350M have been stolen from the company.

Upgrades:

Canadian Imperial Bank (CM): ResearchTeam raised their rating from Reduce to Hold.

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

Hormel Foods (HRL): ResearchTeam raised their rating from Reduce to Hold.

McDonalds (MCD): ResearchTeam raised their rating from Reduce to Hold.

Nike (NKE): ResearchTeam raised their rating from Reduce to Hold.

Royal Bank of Canada (RY): ResearchTeam raised their rating from Reduce to Hold.

UnitedHealth (UNH): ResearchTeam raised their rating from Reduce to Hold.

Verizon (VZ): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $54.00 to $57.00. Pre-market: 46.06 -0.17 (-0.37%)

Downgrades:

Sonoco Products (SON): S&P lowered their rating from 3 stars to 1 star.

Tenet Healthcare (THC): CRT Capital lowered their rating from Buy to Fair Value and lowered their rating from $51.00 to $41.50. Pre-market: 47.63 -0.70 (-1.45%)

Coverage Initiated:

Adobe Systems (ADBE): Susquehanna initiated coverage with a Positive rating and target price of $83.00. Pre-market: 68.83 +0.07 (0.09%)

Alaska Air (ALK): Stifel initiated coverage with a Buy rating and target price of $100.00.

Delta Air Lines (DAL): Stifel initiated coverage with a Buy rating and target price of $40.00.

Spirit Airlines (SAVE): Stifel initiated coverage with a Buy rating and target price of $65.00. Pre-market: 56.00 +0.71 (1.28%)

Southwest Airlines (LUV): Stifel initiated coverage with a Hold rating.

United Continental (UAL): Stifel initiated coverage with a Buy rating and target price of $60.00. Pre-market: 46.12 +0.02 (0.04%)

Earning Reports:

EOG Resources (EOG): Reported EPS of $2.00 beating estimates by +$0.05. Pre-market: 183.10 +2.70 (1.50%)

Home Depot (HD): Reported EPS of $0.73 beating estimates by +$0.03. Pre-market: 79.70 +1.83 (2.35%)

Macy’s (M): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 51.64 -1.42 (-2.68%)

Office Depot (ODP): Reported EPS of -$0.03 missing estimates by -$0.07. Pre-market: 4.34 -1.01 (-18.88%)

Toll Brothers (TOLL): Reported EPS of $0.25 beating estimates by +$0.06. Pre-market: 38.30 -0.04 (-0.10%)

Markets: 
Futures at 7:43: Dow -0.13%. S&P -0.22%. Nasdaq -0.17%. Crude -0.89% to $101.90. Gold -0.38% to $1332.90. U.S. 10 Year 0/32 to 2.738%.

Europe: London -1.05%. Paris -0.53%. Frankfurt -0.50%. 

Asia: Japan +1.44% to 15051.6. Hong Kong -0.32% to 22317. China -2.05% to 2034. India +0.20% to 20844. 

#TopWealthManager #RLPaler #WallStreet #AnalystsRatings #EarningReports #FinancialPlanning 

Coca-Cola Announces Reorganization

Coca-Cola Announces Reorganization. Coca-Cola (KO) has announced a major reorganization of its Americas business.  The company will split its North American unit into two units as part of their strategy to return to a franchise model in the U.S. Additionally, Steve Cahillane head of Americas, who was considered a possible successor to CEO Muhtar Kent will depart the company. This now leave International boss Ahmet Bozer as the number two in the company and possible CEO successor. Pre-market: 39.64 +0.43 (1.10%)

Upgrades:

Advance Auto Parts (AAP): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $131.00 on the company.

Amazon.com (AMZN): ISI Group raised their rating from Buy to Strong Buy. Pre-market: 385.25 +4.00 (1.05%)

Bed Bath & Beyond (BBBY): ISI Group raised their rating from Cautious to Neutral.

FedEx (FDX): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $124.00 to $190.00. Pre-market: 138.00 +1.66 (1.22%)

Northern Trust (NTRS): Macquarie raised their rating from Neutral to Outperform.

Quicksilver (ZQK): B. Riley raised their rating from Neutral to Buy and raised their target price from $6.50 to $10.00. Pre-market: 7.82 +0.09 (1.16%)

United States Steel (X): Cowen raised their rating from Neutral to Outperform.

Western Digital (WDC): Citigroup raised their rating from Neutral to Buy and raised their target price from $71.00 to $100.00.

Downgrades:

BP plc (BP): UBS lowered their rating from Buy to Neutral. Pre-market: 45.74 -0.43 (-0.93%)

Restoration Hardware (RH): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $92.00 to $65.00. Pre-market: 60.00 -5.27 (-8.07%)

Coverage Initiated:

Chevron (CVX): RBC Capital initiated coverage with a Sector Perform rating and placed a target price of $120.00 on the company. Pre-market: 121.20 +0.21 (0.17%)

Coca-Cola (KO): Janney Capital initiated coverage with a Buy rating and placed a target price of $52.00 on the company. Pre-market: 39.64 +0.43 (1.10%)

Exxon Mobil (XOM): RBC Capital initiated coverage with an Outperform rating and placed a target price of $105.00 on the company. Pre-market: 95.75 +0.39 (0.41%)

Earning Reports:

Adobe Systems (ADBE): Reported EPS of $0.32 in-line with estimates. Pre-market: 57.60 +3.61 (6.69%)

Quicksilver (ZQK): Reported EPS of -$0.04 missing estimates by -$0.08. Pre-market: 7.82 +0.09 (1.16%)

Restoration Hardware (RH): Reported EPS of $0.32 beating estimates by +$0.04. Pre-market: 60.00 -5.27 (-8.07%)

Markets: 
Futures at 6:31: Dow +0.29%. S&P +0.38%. Nasdaq +0.41%. Crude -0.45% to $97.06. Gold +0.24% to $1228.30. U.S. 10 Year +2/32 to 2.877%.

Europe: London +0.16%. Paris +0.28%. Frankfurt +0.18%. 

Asia: Japan +0.40% to 15403. Hong Kong +0.12% to 23246. China -0.31% to 2196. India -1.00% to 20716. 

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

Morning Coffee Pre-Market Wall Street News

Gold & Silver Tarnished. Better than expected U.S. economic data yesterday, has sent gold and silver prices lower. Gold prices have dropped to their lowest since August 2010, and are down -3.55% this morning to $1229.80. Shares of SPDR Gold Trust (GLD) have fallen -23.79% year-to-date, while shares of iShares Silver Trust (SLV) have fallen -35.61% year-to-date. This morning spot prices for silver are off another -5.4% at $18.58. (GLD) Pre-market: 119.21 -4.26 (-3.45%) (SLV) Pre-market: 18.03 -0.88 (-4.65%)

Upgrades:

Adobe Systems (ADBE): Jefferies raised their rating from Hold to Buy and raised their target price from $45.00 to $57.00. Pre-market: 45.35 +0.98 (2.21%)

KeyCorp (KEY): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $10.00 to $13.00. Pre-market: 11.00 +0.28 (2.61%)

Pandora Media (P): Cowen raised their rating from Neutral to Outperform. Pre-market: 17.20 +0.79 (4.81%)

Downgrades:

Barrick Gold (ABX): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $36.00 to $20.00. Pre-market: 15.39 -0.72 (-4.47%)

Mosaic (MOS): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $69.00 to $57.00. After Hours: 55.75 -0.16 (-0.29%)

NETGEAR (NTGR): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $33.00 to $28.00.

Southwest Airlines (LUV): Morgan Stanley lowered their rating from Equal Weight to Underweight and maintained a target price of $13.00. After Hours: 13.38 +0.03 (0.22%)

Coverage Initiated:

Google (GOOG): Janney Capital initiated coverage with a Buy rating and target price of $1050.00. Pre-market: 870.51 +4.31 (0.50%)

Orbitz Worldwide (OWW): Ascendiant initiated coverage with a Buy rating and target price of $10.00.

Earning Reports:

General Mills (GIS): Reported EPS of $0.53 in-line with estimates. Pre-market: 48.00 -0.33 (-0.68%)

Smith & Wesson (SWHC): Reported EPS of $0.44 beating estimates by +$0.01. Pre-market: 10.16 +0.17 (1.70%)

Markets: 
Futures at 7:34: Dow +0.40%. S&P +0.52%. Nasdaq +0.64%. Crude -0.21% to $95.13. Gold -3.55% to $1229.80.

Europe: London +0.97%. Paris +1.91%. Frankfurt +1.70%. 

Asia: Japan -1.04% to 12834. Hong Kong +2.43% to 20339. China -0.41% to 1952. India -0.41% to 18552. 

Morning Coffee Pre-Market Wall Street News

Wall Street Awaits Fed Decision. The FOMC will be wrapping up their two day policy meeting today and Wall Street will be watching closely. Economists are now more confident now that the Fed won't signal the end of its QE program, but their policy statement will be analyzed closely for any hints that the Fed may end their QE program in the future or begin to raise interest rates.

Upgrades:

Adobe Systems (ADBE): BofA Merrill Lynch raised their rating from Neutral to Buy and raised their target price from $47.00 to $57.00. Pre-market: 46.57 +3.21 (7.40%)

Ball Corp (BLL): RW Baird raised their rating from Neutral to Outperform and raised their target price from $48.00 to $50.00.

Toll Brothers (TOLL): Argus raised their rating from Hold to Buy and placed a target price of $42.00 on the company. Pre-market: 34.49 +0.45 (1.32%)

Downgrades:

American Eagle (AEO): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $23.00 to $21.00. Pre-market: 18.75 -0.41 (-2.14%)

Brown & Brown (BRO): William Blair lowered their rating from Outperform to Market Perform.

News Corp (NWSA): BTIG lowered their rating from Outperform to Neutral. Pre-market: 31.75 +0.19 (0.60%)

Research in Motion (BBRY): Bernstein lowered their rating from Market Perform to Underperform and lowered their target price from $15.00 to $10.00. Pre-market: 14.51 -0.33 (-2.22%)

Sprint Nextel (S): Macquarie lowered their rating from Outperform to Neutral and placed a target price of $8.00 on the company. Pre-market: 7.11 -0.21 (-2.87%)

Coverage Initiated:

Coca-Cola (KO): Credit Suisse initiated coverage with a Outperform rating and target price of $48.00. Pre-market: 41.05 +0.12 (0.29%)

Dr Pepper Snapple (DPS): Credit Suisse initiated coverage with a Neutral rating and target price of $50.00.

PepsiCo (PEP): Credit Suisse initiated coverage with a Neutral rating and target price of $87.00.

Teva Pharm (TEVA): Maxim initiated coverage with a Buy rating and target price of $56.00.

Earning Reports:

Actuant (ATU): Reported EPS of $0.62 beating estimates by $0.04. Pre-market: 33.70 +0.62 (1.87%)

Adobe Systems (ADBE): Reported EPS of $0.36 beating estimates by $0.02. Pre-market: 46.40 +3.04 (7.01%)

FedEx (FDX): Reported EPS of $2.13 beating estimates by $0.18. Pre-market: 98.99 -0.49 (-0.49%)

La-Z-Boy (LZB): Reported EPS of $0.30 beating estimates by $0.02. After Hours: 19.91 -0.37 (-1.82%)

Markets: 
Futures at 7:31: Dow +0.10%. S&P -0.05%. Nasdaq +0.13%. Crude +0.17% to $98.62. Gold +0.31 at $1371.20.

Europe: London -0.53%. Paris -0.71%. Frankfurt -0.29%. 

Asia: Japan +1.83% to 13245. Hong Kong -1.13% to 20987. China-0.73% to 2143. India +0.12% to 19246.