Actavis to Buy Forest Labs

Actavis to Buy Forest Labs. Generic drug maker Actavis PLC (ACT) will buy Forest Labs (FRX) for approximately $25 billion in cash and stock. Actavis will pay $89.48 per share, representing a premium of 25% to Forest's closing price on Friday. The offer comprises $26.04 in cash and 0.3306 Actavis share for every Forest share. Actavis said the deal should increase its profits by double-digit percentages in 2015 and 2016, including about $1 billion in tax and operating savings.

Upgrades:

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

Allstate (ALL): ResearchTeam raised their rating from Reduce to Hold.

Berkshire Hathaway (BRK.B): First Call raised their rating from Buy to Strong Buy.

Blackberry (BBRY): FBR Capital raised their rating from Underperform to Market Perform and raised their target price from $6.75 to $10.00. Pre-market: 9.38 +0.40 (4.45%)

Express Scripts (ESRX): Monness Crespi raised their rating from Neutral to Buy. Pre-market: 76.99 +0.24 (0.31%)

GlaxoSmithKline (GSK): ResearchTeam raised their rating from Reduce to Hold.

Intuitive Surgical (ISRG): First Call raised their rating from Hold to Buy.

J.M. Smucker Co. (SJM): Stephens raised their rating from Equal Weight to Overweight and raised their target price from $110.00 to $115.00. Pre-market: 92.07 +0.26 (0.28%)

Kraft (KRFT): ResearchTeam raised their rating from Reduce to Hold.

Mosaic (MOS): ResearchTeam raised their rating from Reduce to Hold.

Praxair (PX): ResearchTeam raised their rating from Reduce to Hold.

Total SA (TOT): ResearchTeam raised their rating from Reduce to Hold.

Waste Management (WM): ResearchTeam raised their rating from Reduce to Hold. Pre-market: 42.40 -1.27 (-2.91%)

Downgrades:

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

Intel (INTC): ResearchTeam lowered their rating from Hold to Reduce.

Microsoft (MSFT): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 37.58 -0.04 (-0.11%)

Coverage Initiated:

Allscripts Healthcare (MDRX): Citigroup initiated coverage with a Neutral rating and target price of $18.00.

Credit Suisse (CS): Jefferies initiated coverage with a Buy rating. Pre-market: 32.07 +0.62 (1.97%)

Deutsche Bank (DB): Jefferies initiated coverage with a Buy rating. Pre-market: 49.27 +0.35 (0.72%)

UBS (UBS): Jefferies initiated coverage with a Hold rating. Pre-market: 20.97 +0.13 (0.62%)

Earning Reports:

Coca-Cola (KO): Reported EPS of $0.46 in-line with estimates. Pre-market: 38.10 -0.83 (-2.13%)

Diana Shipping (DSX): Reported EPS of -$0.12 missing estimates by -$0.06. Pre-market: 11.90 -0.79 (-6.23%)

Duke Energy (DUK): Reported EPS of $1.00 beating estimates by +$0.05. Pre-market: 71.45 0.00 (0.00%)

Genuine Parts (GPC): Reported EPS of $0.97 beating estimates by +$0.04.

Medtronic (MDT): Reported EPS of $0.91 in-line with estimates. Pre-market: 57.00 +0.12 (0.21%)

Waste Management (WM): Reported EPS of $0.56 missing estimates by -$0.04. Pre-market: 42.40 -1.27 (-2.91%)

Markets: 
Futures at 8:34: Dow +0.09%. S&P +0.03%. Nasdaq +0.09%. Crude +0.90% to $101.20. Gold -0.02% to $1318.50. U.S. 10 Year +5/32 to 2.732%.

Europe: London +0.33%. Paris -0.25%. Frankfurt -0.06%. 

Asia: Japan +3.13% to 14843. Hong Kong +0.23% to 22588. China -0.77% to 2119. India +0.83% to 20634. 

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World Markets Up on China, the Fed and U.S. Budget Deal

World Markets Up on China, the Fed and U.S. Budget Deal. World markets are higher this morning boosted by better than expected trade data from China.  China's exports rose +10.6% in January well beyond economists estimates of only a +2% increase. Fed Chairman Jenet Yellen in testimony yesterday said that the Fed would continue with its easy money policy easing fears that the Fed would start tightening amid recent poor economic reports. Additionally, the Republican led House has agreed to suspend the U.S. debt ceiling borrowing authority until March 16, 2015.  

Upgrades:

AB InBev (BUD): Goldman Sachs raised their rating from Sell to Buy.

Downgrades:

Amazon.com (AMZN): UBS lowered their rating from Buy to Neutral and lowered their target price from $450.00 to $375.00.

American Railcar (ARII): Longbow lowered their rating from Buy to Neutral.

Dean Foods (DF): Stifel lowered their rating from Buy to Hold.

Green Mountain Coffee (GMCR): Longbow lowered their rating from Buy to Neutral.

Intuit (INTU): Evercore lowered their rating from Equal Weight to Underweight and lowered their target price from $72.00 to $62.00.

Coverage Initiated:

Allstate (ALL): Citigroup initiated coverage with a Neutral rating and target price of $53.00.

Chubb (CB): Citigroup initiated coverage with a Sell rating and target price of $76.00.

Progressive (PGR): Citigroup initiated coverage with a Neutral rating and target price of $24.00.

Traveler’s (TRV): Citigroup initiated coverage with a Sell rating and target price of $71.00.

Earning Reports:

Deere (DE): Reported EPS of $1.81 beating estimates by +0.28.

Dr Pepper Snapple (DPS): Reported EPS of $0.97 beating estimates by +0.13.

Owens Corning (OC): Reported EPS of $0.44 beating estimates by +0.16.

Vonage (VG): Reported EPS of $0.05 beating estimates by +0.01.

Markets: 
Futures at 6:20: Dow +0.2%. S&P +0.2%. Nasdaq +0.3%. Crude +0.6% to $100.53. Gold -0.2% to $1287. U.S. 10 Year +2/32 to 2.75%

Europe: London +0.2%. Paris +0.5%. Frankfurt +0.9%. 

Asia: Japan +0.6% to 14800. Hong Kong +1.5% to 22286. China +0.3% to 2110. India +0.4% to 20448. 

#RLPaler #TopWealthManager #AnalystsRatings #EarningReports #WallStreet #WealthManagement #PreMarket #FinancialPlanner        

Morning Coffee Pre-Market Wall Street News

Walgreen’s drops Medical Coverage for Employees. Walgreen (WAG) is expected to announce today that they will no longer offer health care insurance for employees and their families. Instead the company is expected to give employees cash so they can buy their own insurance on an exchange. The company is expected to site the Obamacare law for the change. Several companies have already announced that they will be dropping health insurance for their employees or spouses. They include IBM and Time Warner, Trader Joes, UPS, and Xerox. Additionally, McDonalds and Dunkin Donuts are looking to get waivers from the law.

Upgrades:

Comstock (CRK): Global Hunter Securities raised their rating from Accumulate to Buy.

Downgrades:

Caterpillar (CAT): Robert W. Baird lowered their rating from Outperform to Neutral and maintained their target price of $90.00. Pre-market: 86.41 -0.66 (-0.76%)

Exelon (EXC): RBC Capital lowered their rating from Outperform to Sector Perform.

Intuit (INTU): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $62.00 on the company.

James River Coal (JRCC): BB&T lowered their rating from Hold to Underweight.

Joy Global (JOY): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $57.00 to $55.00. Pre-market: 52.38 -0.58 (-1.10%)

Coverage Initiated:

Allstate (ALL): Guggenheim initiated coverage with a Buy rating and target price of $63.00.

Marsh & McLennan (MMC): Guggenheim initiated coverage with a Buy rating and target price of $51.00.

Symantec (SYMC): Nomura initiated coverage with a Neutral rating.

Travelers Cos. (TRV): Guggenheim initiated coverage with a Neutral rating and target price of $87.00.

United States Steel (X): BMO Capital initiated coverage with a Market Perform rating and target price of $19.00.

Earning Reports:

Adobe Systems (ADBE): Reported EPS of $0.32 missing estimates by -$0.02. Pre-market: 51.20 +3.06 (6.36%)

Cracker Barrel (CBRL): Reported EPS of $1.43 beating estimates by +$0.08. Pre-market: 103.00 -4.00 (-3.74%)

FedEx (FDX): Reported EPS of $1.53 beating estimates by +$0.03. Pre-market: 113.80 +3.12 (2.82%)

General Mills (GIS): Reported EPS of $0.70 in-line with estimates. Pre-market: 50.02 +0.24 (0.48%)

Markets: 
Futures at 8:57: Dow -0.03%. S&P -0.01%. Nasdaq +0.27%. Crude +0.43% to $105.90. Gold -0.50% to $1302.90. U.S. 10 Year -3/32 2.867%.

Europe: London -0.04%. Paris +0.37%. Frankfurt +0.28%. 

Asia: Japan +1.35% to 14505. Hong Kong -0.27% to 23117. China +0.29% to 2192. India +0.80% to 19962.