Berkshire Hathaway Buys Exxon Mobil

Berkshire Hathaway Buys Exxon Mobil. Berkshire Hathaway (BRK.A / BRK.B) has bought 40.1 million shares of Exxon Mobil (XOM). The purchase makes Warren Buffett’s company the 6^th largest shareholder of Exxon. During the third quarter he also added to his position in the Bank of New York Mellon (BK), DaVita HealthCare Partners (DVA), Suncor Energy (SU), U.S. Bancorp (USB) and VeriSign (VRSN). During the quarter he also lowered his holdings in ConocoPhillips (COP), DirecTV (DTV), GlaxoSmithKline (GSK) and Sanofi (SNY). Pre-market: 115.60 -0.09 (-0.08%)

Upgrades:

Allscripts Healthcare Solutions (MDRX): Leerink raised their rating from Market Perform to Outperform and raised their target price from $16.00 to $18.00.

Ball Corp (BLL): BofA Merrill Lynch raised their rating from Neutral to Buy and raised their target price from $49.00 to $56.00.

Downgrades:

BlackBerry (BBRY): Macquarie lowered their rating from Neutral to Underperform and lowered their target price from $7.00 to $5.50.

Kellogg Co. (K): Barclays lowered their rating from Equal Weight to Underweight.

Kolh’s (KSS): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $66.00 to $55.00.

W.W. Grainger (GWW): Raymond James lowered their rating from Outperform to Market Perform.

Coverage Initiated:

Guess? (GES): Mizuho initiated coverage with a Neutral rating and target price of $30.00.

Twitter (TWTR): UBS initiated coverage with a Neutral rating and target price of $45.00.

Yelp (YELP): Janney Capital initiated coverage with a Neutral rating and target price of $70.00.

Earning Reports:

Agilent (A): Reported EPS of $0.81 beating estimates by +$0.05. Pre-market: 54.00 +3.46 (6.85%)

Applied Materials (AMAT): Reported EPS of $0.19 beating estimates by +$0.01. Pre-market: 17.65 +0.09 (0.51%)

Nordstrom (JWN): Reported EPS of $0.69 beating estimates by +$0.03. Pre-market: 62.70 -0.73 (-1.15%)

Maximus (MMS): Reported EPS of $0.51 beating estimates by +$0.01.

Markets: 
Futures at 8:01: Dow +0.20%. S&P +0.20%. Nasdaq +0.13%. Crude +0.37% to $94.10. Gold -0.01% to $1286.20. U.S. 10 Year -3/32 2.701%.

Europe: London +0.32%. Paris +0.25%. Frankfurt +0.25%. 

Asia: Japan +1.95% to 15166. Hong Kong +1.69% to 23032. China +1.68% to 2136. India closed. 

#RLPaler #WallStreet #PreMarket #WealthManagement #EarningReports #AnalystsRatings #WarrenBuffett #BerkshireHathaway #ExxonMobil

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.