AstraZeneca Eyes Bid on Forest Labs

AstraZeneca  Eyes Bid on Forest Labs. 

Reports say that AstraZeneca (AZN) has met with Forest Labs (FRX) top executives concerning a takeover bid for the company. Forest Labs has a market cap of $15.2B and on Monday announced a restructuring on Monday.

Upgrades:

Electronic Arts (EA): Hilliard Lyons raised their rating from Underperform to Neutral. Pre-market: 21.57 +0.03 (0.14%)

US Bancorp (USB): Goldman Sachs raised their rating from Neutral to Conviction Buy and raised their target price from $40.00 to $44.00.

Downgrades:

AT&T (T): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $38.00 on the company.

Citigroup (C): Goldman Sachs lowered their rating from Conviction Buy to Neutral and raised their target price from $58.00 to $60.00.

eBay (EBAY): Evercore lowered their rating from Overweight to Equal Weight and placed a target price of $58.00 on the company.

Coverage Initiated:

Cablevision Systems (CVC): Northland Securities initiated coverage with a Market Perform rating and target price of $19.00.

Charter Communications (CHTR): Northland Securities initiated coverage with a Market Perform rating and target price of $146.00.

Comcast (CMCSA): Northland Securities initiated coverage with an Outperform rating and target price of $61.00.

Dish Network (DISH): Northland Securities initiated coverage with a Market Perform rating and target price of $61.00.

DIRECTV (DTV): Northland Securities initiated coverage with an Outperform rating and target price of $84.00.

McDonalds (MCD): Buckingham initiated coverage with a Neutral rating and target price of $99.00.

Mosaic (MOS): RBC Capital initiated coverage with an Outperform rating and target price of $57.00.

Time Warner Cable (TWC): Northland Securities initiated coverage with an Outperform rating and target price of $165.00.

Whirlpool (WHR): MKM Partners initiated coverage with a Buy rating and Target price of $183.00.

Earning Reports:

Bob Evans (BOBE): Reported EPS of $0.35 missing estimates by -$0.20. Pre-market: 51.99 -3.11 (-5.64%)

Brown-Forman (BF.B): Reported EPS of $0.96 beating estimates by +$0.05.

Express (EXPR): Reported EPS of $0.23 missing estimates by -$0.02. Pre-market: 20.06 -4.61 (-18.69%)

OmniVision (OVTI): Reported EPS of $0.60 beating estimates by +$0.17. Pre-market: 14.22 -1.77 (-11.07%)

Markets: 
Futures at 8:47: Dow -0.17%. S&P -0.19%. Nasdaq -0.09%. Crude +1.04% to $97.03. Gold +0.20% to $1223.50. U.S. 10 Year -15/32 2.841%.

Europe: London -0.59%. Paris -0.99%. Frankfurt -1.19%. 

Asia: Japan -2.17% to 15408. Hong Kong -0.76% to 23729. China +1.31% to 2252. India -0.70% to 20709. 

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

Morning Coffee-Pre Market Wall Street News

Markets Lower On Fed Comments. World markets are lower this morning after the Fed left its bond-buying program unchanged. Wall Street economist had expected the Fed not to make any changes to its bond-buying program at this time. The Fed left out a reference to tightening financial conditions, which was included in the September statement. Wall Street seems to have interpreted that as meaning the Fed hasn't ruled out tapering in December.

Upgrades:

Archer Daniels Midland (ADM): Argus raised their rating from Hold to Buy. Pre-market: 41.10 +0.10 (0.24%)

Volkswagen (VLKAY): Citigroup raised their rating from Neutral to Buy.

Downgrades:

Eaton Corp. (ETN): Buckingham lowered their rating from Buy to Neutral and placed a target price of $75.00 on the company.

Facebook (FB): BMO Capital lowered their rating from Outperform to Market Perform and placed a target price of $50.00 on the company. Pre-market: 48.61 -0.40 (-0.82%)

Flour (FLR): Canaccord lowered their rating from Buy to Hold and maintained their target price of $80.00.

Garmin (GRMN): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 47.70 -0.57 (-1.18%)

Kraft Foods (KRFT): Canaccord lowered their rating from Buy to Hold and maintained their target price of $59.00. Pre-market: 55.33 -0.11 (-0.20%)

Mattel (MAT): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $52.00 to $46.00. Pre-market: 43.90 -0.76 (-1.70%)

Earning Reports:

Advance Auto (AAP): Reported EPS of $1.42 in-line with estimates. Pre-market: 101.50 +1.50 (1.50%)

Anheuser-Bush InBev (BUD): Reported EPS of $1.36 beating estimates by +$0.10. Pre-market: 103.82 +0.58 (0.56%)

AstraZeneca (AZN): Reported EPS of $1.21 missing estimates by -$0.03. Pre-market: 52.81 -0.76 (-1.42%)

Cardinal Health (CAH): Reported EPS of $0.92 beating estimates by +$0.07. Pre-market: 56.61 +0.93 (1.67%)

Clorox (CLX): Reported EPS of $1.04 beating estimates by +$0.03. Pre-market: 89.00 -1.14 (-1.26%)

ConocoPhillips (COP): Reported EPS of $1.47 beating estimates by +$0.02. Pre-market: 73.88 +0.63 (0.86%)

Expedia (EXPE): Reported EPS of $1.43 beating estimates by +$0.07. Pre-market: 58.19 +8.23 (16.47%)

Exxon Mobil (XOM): Reported EPS of $1.79 beating estimates by +$0.01. Pre-market: 89.07 +0.26 (0.29%)

Facebook (FB): Reported EPS of $0.25 beating estimates by +$0.06. Pre-market: 48.61 -0.40 (-0.82%)

Kraft Foods (KRFT): Reported EPS of $0.70 beating estimates by +$0.01. Pre-market: 55.33 -0.11 (-0.20%)

MasterCard (MA): Reported EPS of $7.27 beating estimates by +$0.33. Pre-market: 734.99 +9.31 (1.28%)

Sony (SNE): Reported EPS of -$18.91 missing estimates by -$29.91. Pre-market: 18.08 -1.34 (-6.90%)

Starbucks (SBUX): Reported EPS of $0.60 in-line with estimates. Pre-market: 79.00 -1.83 (-2.26%)

Teva Pharma (TEVA): Reported EPS of $1.27 beating estimates by +$0.01. Pre-market: 38.00 +0.30 (0.80%)

Visa (V): Reported EPS of $1.86 missing estimates by -$0.01. Pre-market: 198.69 -5.13 (-2.52%)

Markets: 
Futures at 6:20: Dow -0.2%. S&P -0.1%. Nasdaq -0.5%. Crude 0.0% at $96.81. Gold -1% to $1335.80. 

Europe: London -0.4%. Paris +0.2%. Frankfurt -0.2%. 

Asia: Japan -1.2% to 14328. Hong Kong -0.4% to 23206. China -0.8% to 2143. India +0.2% to 21072.

Morning Coffee Pre-Market Wall Street News

Summers Taps Out of Fed Chair Job. Reports say that Larry Summers has officially taped out for consideration as the next Fed Chairman, saying that "any possible confirmation process for me would be acrimonious." Both Democrats and Republican were expected to object to his nomination to replace Ben Bernanke. The top remaining contenders for the position are Janet Yellen, who would be the first woman Fed Chairman and Don Kohn.

Upgrades:

AstraZeneca (AZN): Nordea raised their rating from Sell to Buy. Pre-market: 51.88 +1.23 (2.43%)

Barclays (BCS): Nomura raised their rating from Reduce to Buy. Pre-market: 19.50 +0.28 (1.46%)

Bristol Myers Squibb (BMY): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $50.00 to $52.00. Pre-market: 44.41 +0.85 (1.95%)

Dominion Resources (D): ISI Group raised their rating from Neutral to Buy and raised their target price to$66.00.

Express (EXPR): The ResearchTeam raised their rating from Hold to Accumulate.

Intel (INTC): The ResearchTeam raised their rating from Reduce to Hold. Pre-market: 23.62 +0.18 (0.77%)

Mosaic (MOS): The ResearchTeam raised their rating from Reduce to Hold. Pre-market: 46.62 +0.63 (1.37%)

Synaptics (SYNA): The ResearchTeam raised their rating from Reduce to Hold. Pre-market: 64.26 +0.72 (1.13%)

Teleflex (TFX): Raymond James raised their rating from Market Perform to Outperform.

Western Union (WU): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $22.00 on the company. Pre-market: 18.87 +0.46 (2.50%)

Downgrades:

Las Vegas Sands (LVS): ISI Group lowered their rating from Buy to Neutral and placed a target price of $61.00 on the company.

Under Armour (UA): Susquehanna lowered their rating from Positive to Neutral and maintained a target price of $77.00 on the company. Pre-market: 78.25 -0.25 (-0.32%)

Wynn Resorts (WYNN): ISI Group lowered their rating from Buy to Neutral and placed a target price of $149.00 on the company. Pre-market: 151.14 +0.79 (0.53%)

Markets: 

Futures at 6:20: Dow +1.1%. S&P +1.1%. Nasdaq +1%. Crude -1.3% to $106.84. Gold +0.45% to $1314.50.  U.S. 10 Year +22/32 2.805%.

Europe: London +0.89%. Paris +0.98%. Frankfurt +1.29%. 

Asia: Japan closed. Hong Kong +1.47% to 23252. China -0.22% to 2231. India +0.05% to 19742. 

Morning Coffee Pre-Market Wall Street News

J.C. Penney shares get hit. Shares of J.C. Penney (JCP) fell -10.2% yesterday following news that commercial lender CIT is no longer financing deliveries from small manufacturers to the company's stores due to credit fears. According to RetailSails JCP is still receiving financing from other companies other than CIT.

Upgrades:

Baker Hughes (BHI): Argus raised their rating from Sell to Hold.

Comcast (CMCSA): RW Baird raised their rating from Neutral to Outperform and raised their target price from $45.00 to $54.00.

Covance (CVD): First Analysis raised their rating from Equal Weight to Overweight and placed a target price of $96.00 on the company.

J.C. Penney (JCP): Atlantic Equities raised their rating from Neutral to Overweight. Pre-market: 15.53 +0.93 (6.37%)

Downgrades:

Humana (HUM): Stifel lowered their rating from Buy to Hold. Pre-market: 90.70 -0.56 (-0.61%)

J.C. Penney (JCP): Citigroup lowered their rating from Neutral to Sell and lowered their target price from $20 to $11.00.

Raymond James (RJF): Susquehanna lowered their rating from Positive to Neutral. Pre-market: 43.83 -0.24 (-0.54%)

Starbucks (SBUX): Williams Capital raised their rating from Hold to Buy and placed a target price of $85.00 on the company.

Coverage Initiated:

Chico’s FAS (CHS): FBR Capital initiated coverage with a Market Perform rating and target price of $17.00.

Gap (GPS): FBR Capital initiated coverage with an Outperform rating and target price of $53.00.

Guess? (GES): Susquehanna initiated coverage with a Neutral rating and target price of $38.00.

Earning Reports:

Allstate (ALL): Reported EPS of $1.12 beating estimates by +$0.14. Pre-market: 51.75 +0.77 (1.51%)

AstraZeneca (AZN): Reported EPS of $1.20 beating estimates by +$0.17. Pre-market: 50.31 -0.41 (-0.81%)

Automatic Data (ADP): Reported EPS of $0.55 missing estimates by -$0.02. Pre-market: 69.85 -2.24 (-3.11%)

Boston Beer Co (SAM): Reported EPS of $1.45 beating estimates by +$0.11. Pre-market: 190.00 +11.02 (6.16%)

Cardinal Health (CAH): Reported EPS of $0.79 beating estimates by +$0.02.

CBS (CBS): Reported EPS of $0.76 beating estimates by +$0.04. Pre-market: 54.10 +1.26 (2.38%)

Clorox (CLX): Reported EPS of $1.38 beating estimates by +$0.04.

ConocoPhillips (COP): Reported EPS of $1.41 beating estimates by +$0.11. Pre-market: 65.90 +1.04 (1.60%)

DIRECTV (DTV): Reported EPS of $1.18 missing estimates by -$0.16. Pre-market: 60.00 -3.28 (-5.18%)

Dreamworks Animation (DWA): Reported EPS of $0.26 beating estimates by +$0.08. Pre-market: 26.49 +1.73 (6.99%)

Exxon Mobil (XOM): Reported EPS of $1.55 missing estimates by -$0.35. Pre-market: 92.75 -1.00 (-1.07%)

Fluor (FLR): Reported EPS of $0.98 missing estimates by -$0.03. Pre-market: 62.56 0.00 (0.00%)

Kellogg (K): Reported EPS of $1.00 beating estimates by +$0.02. Pre-market: 65.45 -0.79 (-1.19%)

Microchip (MCHP): Reported EPS of $0.57 beating estimates by +$0.03.

Procter & Gamble (PG): Reported EPS of $0.79 beating estimates by +$0.02. Pre-market: 81.67 +1.37 (1.71%)

Sturm Ruger (RGR): Reported EPS of $1.63 beating estimates by +$0.45. Pre-market: 54.15 +3.28 (6.45%)

SunPower (SPWR): Reported EPS of $0.48 beating estimates by +$0.37. Pre-market: 27.63 -0.02 (-0.07%)

Markets: 
Futures at 8:20: Dow +0.73%. S&P +0.77%. Nasdaq +0.78%. Crude +1.94% to $107.07. Gold +1.08% to $1327.20. U.S. 10 Year -16/32 2.642%

Europe: London +0.07%. Paris +0.55%. Frankfurt +1.24%. 

Asia: Japan +2.47% to 14006. Hong Kong +0.94% to 22089. China +1.77% to 2029. India -0.15% to 19,314.