Economy Adds 175,000 Jobs in February

Economy Adds 175,000 Jobs in February. After two disappointing job reports in December and January the Labor Department reported that 175,000 jobs were added in February. Economists had expected only 157,000 new jobs would have been created for the month. The unemployment rate did rise to 6.7% from 6.6%. While the December report was revised upward from 75,000 to 82,000 and January was revised to 129,000 from 113,000.

Upgrades:

Charter Communications (CHTR): Northland Securities raised their rating from Market Perform to Outperform.

Clean Harbors (CLH): Raymond James raised their rating from Market Perform to Buy and placed a target price of $60.00 on the company.

Fresh Market (TFM): UBS raised their rating from Neutral to Buy and raised their target price from $45.00 to $48.00. Pre-market: 34.90 +0.90 (2.65%)

Safeway (SWY): UBS raised their rating from Sell to Neutral. Pre-market: 38.08 -1.39 (-3.52%)

Sirius XM (SIRI): Macquarie raised their rating from Neutral to Outperform.

Skullcandy (SKUL): DA Davidson raised their rating from Underperform to Neutral. Pre-market: 9.27 +1.84 (24.76%)

Downgrades:

Safeway (SWY): BB&T lowered their rating from Buy to Hold. Pre-market: 38.08 -1.39 (-3.52%)

Staples (SPLS): Argus lowered their rating from Buy to Hold. Pre-market: 28.66 +0.27 (0.95%)

Coverage Initiated:

MGM Resorts (MGM): Ascendiant initiated coverage with a Buy rating and target price of $33.00. Pre-market: 28.66 +0.27 (0.95%)

Magna International (MGA): TD Securities initiated coverage with a Buy rating.

Salesforce.com (CRM): B. Riley initiated coverage with a Neutral rating and target price of $65.00. Pre-market: 63.14 0.00 (0.00%)

Earning Reports:

Big Lots (BIG): Reported EPS of $0.98 missing estimates by -$0.22. Pre-market: 34.02 +4.77 (16.31%)

Foot Locker (FL): Reported EPS of $0.82 beating estimates by +$0.06. Pre-market: 45.10 +2.37 (5.55%)

Skullcandy (SKUL): Reported EPS of $0.13 beating estimates by +$0.04. Pre-market: 9.27 +1.84 (24.76%)

Markets: 
Futures at 8:33: Dow +0.44%. S&P +0.40%. Nasdaq +0.30%. Crude +0.25% to $101.81. Gold -0.08% to $1350.70. U.S. 10 Year -17/32 to 2.799%.

Europe: London +0.05%. Paris +0.22%. Frankfurt -0.29%. 

Asia: Japan +0.92% to 15274. Hong Kong -0.19% to 22660. China -0.08% to 2058. India +1.89% to 21920. 

#TopWealthManager #RLPaler #FinancialPlanning #WallStreet #AnalystsRatings #EarningReports #LaborDepartment #JobNumbers #Unemployment

Microsoft Paying Companies to Make Windows Phones

Microsoft Paying Companies to Make Windows Phones. Unconfirmed reports say that Microsoft (MSFT) will reportedly make $2.6B in "support" payments to Smartphone manufactures persuade them to make one Windows Phone each. Some may call it a bribe and others say it’s a sign that Microsoft has lost the mobile device wars. Samsung (SSNLF) will receive $1.2B, Sony (SNE) $500M, Huawei $600M and others will receive $300M. Pre-market: 36.69 -0.07 (-0.19%)

Upgrades:

AOL (AOL): CRT Capital raised their rating from Fair Value to Buy and placed a target price of $57.00 on the company. Pre-market: 48.25 +1.00 (2.11%)

Big Lots (BIG): Raymond James raised their rating from Underperform to Market Perform.

CSX Corp (CSX): Argus raised their rating from Hold to Buy and placed a target price of $35.00 on the company. Pre-market: 27.69 -1.54 (-5.27%)

Micron Tech (MU): JMP Securities raised their rating from Market Perform to Outperform and placed a target price of $31.00 on the company. Pre-market: 23.45 +0.12 (0.51%)

Downgrades:

CSX Corp (CSX): Stifel lowered their rating from Buy to Hold. Pre-market: 27.69 -1.54 (-5.27%)

Diageo PLC (DEO): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 129.23 -1.45 (-1.11%)

Dollar General (DG): ResearchTeam lowered their rating from Hold to Reduce.

EMC Corp (EMC): Monness Crespi lowered their rating from Buy to Neutral. Pre-market: 26.18 -0.11 (-0.42%)

Family Dollar (FDO): Raymond James lowered their rating from Market Perform to Underperform.

Kroger (KR): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $48.00 to $39.00.

Norfolk Southern (NSC): Stifel lowered their rating from Buy to Hold. Pre-market: 89.35 -1.81 (-1.99%)

Coverage Initiated:

Buffalo Wild Wings (BWLD): CLSA initiated coverage with an Outperform rating.

Twitter (TWTR): Telsey Advisory initiated coverage with a Not Rated rating and a target price of $70.00. Pre-market: 61.20 -0.37 (-0.60%)

Earning Reports:

BB&T Corp (BBT): Reported EPS of $0.75 beating estimates by +$0.03.

BlackRock (BLK): Reported EPS of $4.92 beating estimates by +$0.59. Pre-market: 324.26 +11.51 (3.68%)

Citigroup (C): Reported EPS of $0.82 missing estimates by -$0.16. Pre-market: 53.25 -1.74 (-3.16%)

Goldman Sachs (GS): Reported EPS of $4.60 beating estimates by +$0.42. Pre-market: 179.00 +0.25 (0.14%)

Huntington Banc (HBAN): Reported EPS of $0.18 beating estimates by +$0.01. Pre-market: 9.74 -0.16 (-1.62%)

PNC (PNC): Reported EPS of $1.85 beating estimates by +$0.22. Pre-market: 80.69 +1.85 (2.35%)

PPG Industries (PPG): Reported EPS of $1.81 beating estimates by +$0.08. Pre-market: 192.00 +1.30 (0.68%)

UnitedHealth (UNH): Reported EPS of $1.41 beating estimates by +$0.01. Pre-market: 73.00 -1.84 (-2.46%)

Markets: 
Futures at 8:00: Dow -0.10%. S&P -0.18%. Nasdaq -0.03%. Crude +0.28% to $94.42. Gold -0.09% to $1234.40. U.S. 10 Year +7/32 to 2.871%.

Europe: London +0.06%. Paris -0.19%. Frankfurt -0.22%. 

Asia: Japan -0.39% to 15747.2. Hong Kong +0.37% to 22986. China +0.02% at 2024. India -0.11% to 21265. 

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

JCPenny Received Inquiry From Regulators.

JCPenney Received Inquiry From Regulators. Troubled retailer J.C. Penney (JCP) has received a letter of inquiry from the SEC according to reports. The request is for information about the company’s "liquidity, cash position, and debt and equity financing." Regulators are also requesting information about the company’s recent stock offering. Pre-market: 8.65 -0.20 (-2.26%)

Upgrades:

Boston Scientific (BSX): Cowen raised their rating from Market Perform to Outperform. Pre-market: 11.48 +0.14 (1.23%)

Dollar General (DG): Goldman Sachs raised their rating from Neutral to Conviction Buy and raised their target price from $64.00 to $71.00.

Infosys (INFY): Cowen raised their rating from Market Perform to Outperform and raised their target price from $55.00 to $65.00. Pre-market: 54.95 +1.08 (2.00%)

Intel (INTC): Drexel Hamilton raised their rating from Hold to Buy and raised their target price from $26.00 to $30.00. Pre-market: 24.93 +0.67 (2.76%)

Intel (INTC): Citigroup raised their rating from Neutral to Buy. Pre-market: 24.93 +0.67 (2.76%)

Downgrades:

Accenture (ACN): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $92.00 to $72.00. Pre-market: 75.66 -0.13 (-0.17%)

Family Dollar (FDO): Sterne Agee lowered their rating from Neutral to Underperform and placed a target price of $56.00 on the company. Pre-market: 67.30 -0.30 (-0.44%)

IBM (IBM): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $234.00 to $165.00. Pre-market: 176.79 +0.71 (0.40%)

Tyco Intl (TYC): Argus lowered their rating from Buy to Hold. Pre-market: 37.40 +0.15 (0.40%)

Coverage Initiated:

Chevron (CVX): HSBC initiated coverage with an Overweight rating and target price of $138.00. Pre-market: 122.15 +1.05 (0.87%)

Ensco (ESV): FBR Capital initiated coverage with a Market Perform rating and target price of $62.00.

Exxon Mobil (XOM): HSBC initiated coverage with an Underweight rating and target price of $92.00. 

Pre-market: 94.95 +0.82 (0.87%)

National Oilwell (NOV): FBR Capital initiated coverage with an Outperform rating and target price of $100.00.

Nokia (NOK): JPMorgan initiated coverage with an Overweight rating and target price of $10.80. Pre-market: 7.84 +0.11 (1.42%)

Earning Reports:

American Eagle (AEO): Reported EPS of $0.19 beating estimates by +$0.01. Pre-market: 15.75 -0.65 (-3.96%)

Big Lots (BIG): Reported EPS of -$0.16 missing estimates by -$0.08. Pre-market: 33.80 -3.33 (-8.97%)

Diamond Foods (DMND): Reported EPS of $0.18 beating estimates by +$0.01. Pre-market: 23.00 -1.14 (-4.72%)

Five Below (FIVE): Reported EPS of $0.05 beating estimates by +$0.01. Pre-market: 45.25 -2.50 (-5.24%)

Pacific Sunwear (PSUN): Reported EPS of -$0.05 in-line with estimates. Pre-market: 3.20 +0.44 (15.94%)

Ulta Salon (ULTA): Reported EPS of $0.72 missing estimates by -$0.02. Pre-market: 96.26 -21.74 (-18.42%)

Zumiez (ZUMZ): Reported EPS of -$0.46 in-line with estimates. Pre-market: 25.20 -1.04 (-3.96%)

Markets: 
Futures at 6:20: Dow +0.3%. S&P +0.4%. Nasdaq +0.3%. Crude to $97.24. Gold -0.2% to $1229.60. 

Europe: London +0.4%. Paris +0.1%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 15300. Hong Kong +0.1% to 23743. China -0.4% to 2237. India +0.15% to 20989. 

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

Morning Coffee Pre-Market Wall Street News

Consumer Spending Misses Estimates. The Commerce Department reported that personal spending for July rose 0.1% missing Wall Street economists’ estimates. Wall Street had expected personal spending to rise 0.3%. June’s numbers where revised higher to 0.6% from 0.5%. Personal income for July rose 0.1% in-line with estimates, but down from the prior months 0.3% reading. Consumer spending accounts for 70% of the economy. Job growth and wage gains are needed as interest rates on mortgages and home prices continue to rise.  If not, this could cause consumers to stop spending and detail to housing recovery.

Upgrades:

Apache Corp (APA): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $93.00 to $99.00.

Deutsche Bank (DB): JPMorgan raised their rating from Neutral to Overweight.

Intel (INTC): Argus raised their rating from Hold to Buy and placed a target price of $28.00 on the company.

Downgrades:

Joy Global (JOY): BB&T lowered their rating from Buy to Hold.

OmniVision (OVTI): Northland Securities lowered their rating from Outperform to Market Perform.

OmniVision (OVTI): Craig-Hallum lowered their rating from Buy to Hold and lowered their target price from $24.00 to $18.00.

OmniVision (OVTI): Oppenheimer lowered their rating from Outperform to Perform.

Staples (SPLS): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $17.00 to $15.00.

Vodafone (VOD): RW Baird lowered their rating from Outperform to Neutral. Pre-market: 32.03 +0.23 (0.72%)

Coverage Initiated:

Baidu (BIDU): JPMorgan initiated coverage with an Overweight rating and raised their target price from $115.00 to $165.00.

Earning Reports:

bebe Stores (BEBE): Reported EPS of -$0.14 missing estimates by -$0.01.

Big Lots (BIG): Reported EPS of $0.31 beating estimates by +$0.07. Pre-market: 35.35 +0.71 (2.05%)

Krispy Kreme (KKD): d EPS of -$0.14 missing estimates by -$0.02. Pre-market: 20.82 -2.41 (-10.37%)

OmniVision (OVTI): Reported EPS of $0.55 beating estimates by +$0.12. Pre-market: 16.17 -2.24 (-12.17%)

Pacific Sunwear (PSUN): Reported EPS of $0.02 beating estimates by +$0.02. Pre-market: 3.69 -0.23 (-5.87%)

Salesforce.com (CRM): Reported EPS of $0.09 beating estimates by +$0.02. Pre-market: 47.50 +3.85 (8.82%)

Yingli Green Energy (YGE): Reported EPS of -$0.33 in-line with estimates. Pre-market: 4.36 +0.16 (3.81%)

Markets: 
Futures at 8:07: Dow +0.11%. S&P +0.18%. Nasdaq +0.26%. Crude -0.87% to $107.83. Gold -1.12% to $1396.90. U.S. 10 Year -1/32 2.766%

Europe: London -0.45%. Paris -0.76%. Frankfurt -0.71%. 

Asia: Japan -0.53% to 13389. Hong Kong +0.12% to 21731. China +0.05% to 2098. India +1.19% to 18612.