Google Reports Mixed Results. Internet giant Google (GOOG) reported that their Q4 net profit climbed +17% to $3.38B and revenue grew +17% to $16.86B. Both numbers topped Wall Street’s estimates. EPS at the company came in at only $12.01 missing expectations. Google's paid click growth continued to accelerate in Q4 and was boosted by mobile searches and product listing ads. The company also announced a stock split that is scheduled to take place on April 2.  The split will create a new none voting “C” class of shares which will trade under a new symbol GOOGL. Shareholders as of March 27 will receive one share of “C” class shares for each share of voting Class A stock owned. Pre-market: 1,183.00 +47.61 (4.19%)

Upgrades:

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

Cracker Barrel (CRBL): Miller Tabak raised their rating from Hold to Buy and placed a target price of $114.00 on the company. Pre-market: 98.25 +0.47 (0.48%)

Hillshire Brands (HSH): Wells Fargo raised their rating from Underperform to Market Perform and raised their target range from $28.00-$30.00 to $33.00-$34.00.

Raytheon (RTN): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $114.00 on the company. Pre-market: 91.89 0.00 (0.00%)

Raytheon (RTN): Drexel Hamilton raised their rating from Hold to Buy. Pre-market: 91.89 0.00 (0.00%)

Wal-Mart (WMT): Credit Suisse raised their rating from Neutral to Outperform.

Downgrades:

Constellation Brands (STZ): HSBC lowered their rating from Neutral to Underweight. Pre-market: 76.50 -1.09 (-1.40%)

Earning Reports:

AbbVie (ABBV): Reported EPS of $0.82 in-line with estimates. Pre-market: 49.85 +1.54 (3.19%)

Amazon.com (AMNZ): Reported EPS of $0.51 missing estimates by -$0.18. Pre-market: 368.20 -34.81 (-8.64%)

Broadcom (BRCM): Reported EPS of $0.60 beating estimates by +$0.03. Pre-market: 29.25 +0.04 (0.14%)

Chevron (CVX): Reported EPS of $2.57 missing estimates by -$0.01. Pre-market: 114.83 -1.62 (-1.39%)

Eastman Chemical (EMN): Reported EPS of $1.35 beating estimates by +$0.10. Pre-market: 76.55 +0.58 (0.76%)

Google (GOOG): Reported EPS of $12.01 missing estimates by -$0.28. Pre-market: 1,183.00 +47.61 (4.19%)

MasterCard (MA): Reported EPS of $0.57 missing estimates by -$0.03. Pre-market: 76.52 -3.24 (-4.06%)

Mattel (MAT): Reported EPS of $1.07 missing estimates by -$0.13. Pre-market: 76.57 -3.19 (-4.00%)

National Oilwell Varco (NOV): Reported EPS of $1.56 beating estimates by +$0.17. Pre-market: 75.10 +1.45 (1.97%)

Weyerhaeuser (WY): Reported EPS of $0.27 missing estimates by +$0.01. Pre-market: 29.23 -1.54 (-5.00%)

Wynn Resorts (WYNN): Reported EPS of $2.27 beating estimates by +$0.54. Pre-market: 206.99 +5.48 (2.72%)

Markets: 
Futures at 8:19: Dow -1.07%. S&P -0.94%. Nasdaq -0.45%. Crude -1.06% to $97.18. Gold +0.52% to $1248.60. U.S. 10 Year +9/32 to 2.662%.

Europe: London -1.63%. Paris -1.67%. Frankfurt -1.84%. 

Asia: Japan -0.62% to 14915. Hong Kong -0.48% to 22035. China +0.56% to 2050. India +0.08% to 20514. 

#RLPaler #WealthManagement #EarningReports #AnalystsRatings #TopWealthManager #PreMarket

Foster Wheeler to Be Acquired. Foster Wheeler (FWLT) will be acquired by U.K. engineering company Amec (AMCBF) for £1.9B ($3.13B) in cash and stock. Foster shareholders will receive 23% in Amec which will seek a U.S. listing. The company said in a statement that the transaction will position Amec "to serve across the whole oil and gas value chain," and that, "adding mid and downstream capabilities to Amec's existing upstream focus and bringing new customer relationships."

Upgrades:

Broadcom (BRCM): B. Riley raised their rating from Neutral to Buy and raised their target price from $29.00 to $37.00. Pre-market: 29.05 +0.14 (0.48%)

Carnival (CCL): SunTrust raised their rating from Reduce to Neutral.

Jacobs Engineering (JEC): UBS raised their rating from Neutral to Buy and raised their target price from $60.00 to $75.00.

Macys’ (M): Macquarie raised their rating from Neutral to Outperform.

Visa (V): Citigroup raised their rating from Neutral to Buy and raised their target price from $212.00 to $265.00.

Downgrades:

Berkshire Hathaway (BRK.A/BRK.B): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 114.80 -0.17 (-0.15%)

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

Charles Schwab (SCHW): CLSA lowered their rating from Outperform to Underperform.

Mattel (MAT): ResearchTeam lowered their rating from Accumulate to Hold.

Oceaneering Intl (OII): ISI Group lowered their rating from Strong Buy to Neutral.

Ryder Systems (R): ResearchTeam lowered their rating from Accumulate to Hold.

SAP AG (SAP): Pacific Crest lowered their rating from Outperform to Market Perform. Pre-market: 83.07 -0.47 (-0.56%)

Symantec (SYMC): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $21.00 on the company. Pre-market: 22.95 -0.52 (-2.22%)

Transocean (RIG): ISI Group lowered their rating from Neutral to Cautious. Pre-market: 48.48 -0.05 (-0.10%)

Coverage Initiated:

Ford Motor Co (F): ISI Group initiated coverage with a Strong Buy rating and target price of $22.00. Pre-market: 16.34 +0.27 (1.68%)

General Motors (GM): ISI Group initiated coverage with a Neutral rating and target price of $45.00. Pre-market: 40.30 +0.27 (0.67%)

Hewlett-Packard (HPQ): Atlantic Equities initiated coverage with an Overweight rating and target price of $36.00.

IBM (IBM): Atlantic Equities initiated coverage with a Neutral rating and target price of $195.00.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.3%. Nasdaq -0.3%. Crude -0.7%to $92.11. Gold -0.1% to $1245.60. 

Europe: London 0.0%. Paris +0.1%. Frankfurt +0.2%. 

Asia: Japan +0.2% to 15912. Hong Kong +0.2% to 22889. China -0.2% to 2010. India +1.8% to 21134. 

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

Government Motors is No Longer

Government Motors is No Longer. The U.S. government has sold its remaining 31.1M shares in General Motors (GM) for $9.2B. Because of the government ownership some had called the company Government Motors. The sale ends restrictions on executive pay and would allow the payment of dividends and share buybacks. The wisdom of the sale at this time is being questioned since the sale netted only $39B from an initial investment of $49.5B. The total loss to U.S. taxpayers will be over $10.5B.

Upgrades:

Broadcom (BRCM): Charter Equity raised their rating from Market Perform to Buy.

Celgene (CELG): Credit Suisse raised their rating from Neutral to Outperform.

Johnson Controls (JCI): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $61.00 on the company.

Royal Bank of Canada (RY): S&P raised their rating from 3 Stars to 4 Stars.

United Rentals (URI): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $85.00 on the company.

Downgrades:

Quest Diagnostics (DGX): Bank of America Merrill Lynch lowered their rating from Buy to Underperform and lowered their target price from $64.00 to $55.00.

Old Dominion Freight (ODLF): Longbow lowered their rating from Buy to Neutral.

Tenneco (TEN): RBC Capital lowered their rating from Top Pick to Outperform and placed a target price of $66.00 on the company.

Tyson Foods (TSN): Miller Tabak lowered their rating from Buy to Hold and lowered their target price from $35.00 to $33.00.

Coverage Initiated:

IMAX (IMAX): Ascendiant Jefferies initiated coverage with a Buy rating and target price of $32.00.

Papa John’s International (PZZA):  Jefferies initiated coverage with a Hold rating and target price of $86.00.

Rambus (RMBS): Jefferies initiated coverage with a Hold rating and target price of $13.00.

olHold rating

Earning Reports:

AutoZone (AZO): Reported EPS of $6.29 beating estimates by +$0.01.

Burlington Stores (BURL): Reported EPS of -$0.05 in-line with estimates.

Toll Brothers (TOL): Reported EPS of $0.54 beating estimates by +$0.10.

Markets: 
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude +1.2% to $98.49. Gold +1% to $1246.30. 

Europe: London +0.1%. Paris +0.1%. Frankfurt +0.2%. 

Asia: Japan -0.3% to 15611. Hong Kong -0.3% to 23744. China -0.02% at 2237. India -0.3% at 21256. 

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

Morning Coffee Pre-Market Wall Street News

Inflation Rose Less Than Expected. The Labor Department reported this morning that inflation rose less than expected in August.  The CPI rose only +0.1% in August versus the +0.2% increase in July. The core CPI, which excludes food and energy rose +0.1%. Wall Street economist had expected a +0.2% for both the CPI and Core CPI numbers.

Upgrades:

American States Water (AWR): Brean Capital raised their rating from Hold to Buy and placed a target price of $28.00 on the company.

Broadcom (BRCM): Susquehanna raised their rating from Neutral to Positive and raised their target price from $33.00 to $35.00. Pre-market: 27.33 +0.42 (1.56%)

Delta Airlines (DAL): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $22.00 to $26.00. Pre-market: 23.64 +0.49 (2.12%)

FreightCar America (RAIL): Stephens raised their rating from Equal Weight to Overweight and raised their target price from $18.00 to $24.00. Pre-market: 19.96 +0.66 (3.42%)

Mead Johnson Nutrition (MJN): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $78.00 to $88.00. Pre-market: 76.11 0.00 (0.00%)

US Airways (LCC): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $18.00 to $26.00. Pre-market: 18.58 +0.51 (2.82%)

Verizon Communications (VZ): RBC Capital raised their rating from Sector Perform to Outperform and placed a target price of $54.00 on the company.

Downgrades:

Comstock Resources (CRK): Howard Weil lowered their rating from Sector Outperform to Sector Perform. Pre-market: 15.89 -0.12 (-0.75%)

ConAgra Foods (CAG): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $36.00 to $33.00.

Kellogg (K): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $65.00 to $60.00.

Steven Madden (SHOO): Wedbush lowered their rating from Outperform to Neutral and maintained their target price of $55.00.

Coverage Initiated:

Angie’s List (ANGI): Telsey Advisory Group placed a target price of $29.00 on the company. Pre-market: 20.83 +0.59 (2.92%)

Perrigo (PRGO): CRT Capital initiated coverage with a Buy rating and target price of $145.00.

Earning Reports:

Coty (COTY): Reported EPS of $0.03 beating estimates by +$0.01.

FactSet Research (FDS): Reported EPS of $1.20 beating estimates by +$0.01. Pre-market: 111.00 -1.25 (-1.11%)

Markets: 
Futures at 8:20: Dow +0.05%. S&P +0.01%. Nasdaq +0.11%. Crude -0.43% to $106.12. Gold +0.10% to $1319.00. U.S. 10 Year +7/32 2.841%.

Europe: London -0.49%. Paris -0.23%. Frankfurt -0.21%. 

Asia: Japan -0.65% to 14312. Hong Kong -0.31% to 23181. China -2.05% to 2186. India +0.31% to 19804. 

Morning Coffee Pre-Market Wall Street News

BlackBerry Could Go Private. The once dominate cell phone maker BlackBerry (BBRY) which is struggling to stay alive could be taken private. It’s been reported that a senior executive at a Canadian pension fund believes they and other funds in Canada would consider a deal to take BlackBerry private. Last Friday, the Canada Pension Plan Investment Board said it would be open participating in a BlackBerry buyout. (BBRY) After Hours: 10.44 -0.21 (-1.97%)

Upgrades:

Cemex S.A.B. de C.V. (CX): Citigroup raised their rating from Neutral to Buy and placed a target price of $14.50 on the company.

LinkedIn (LNKD): Needham raised their rating from Hold to Buy and placed a target price of $280.00 on the company. Pre-market: 235.80 +2.99 (1.28%)

Lowe’s (LOW): Canaccord raised their rating from Sell to Hold and raised their target price from $28.00 to $48.00.

Downgrades:

Broadcom (BRCM): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $36.00 to $30.00. Pre-market: 25.84 -0.22 (-0.84%)

Juniper Networks (JNPR): RBC Capital lowered their rating from Outperform to Sector Perform.

Tesla Motors (TSLA): Lazard Capital lowered their rating from Buy to Neutral. Pre-market: 148.50 -4.50 (-2.94%)

Coverage Initiated:

AbbVie (ABBV): Argus initiated coverage with a Buy rating and target price of $52.00.

Cemex S.A.B. de C.V. (CX): Exane BNP Paribas initiated coverage with an Outperform rating and target price of $14.00.

Ralph Lauren (RL): Goldman Sachs initiated coverage with a Neutral rating and target price of $205.00.

Tiffany & Co. (TIF): Goldman Sachs initiated coverage with a Neutral rating and target price of $84.00.

Earning Reports:

Sysco (SYY): Reported EPS of $0.50 missing estimates by -0.05. Pre-market: 34.15 -0.86 (-2.46%)

Markets: 
Futures at 7:18: Dow -0.36%. S&P -0.47%. Nasdaq -0.31%. Crude -0.53% to $105.40. Gold +1.12% to $1326.70. U.S 10 Year +3/32 2.570%.

Europe: London -0.31%. Paris -0.28%. Frankfurt -0.37%. 

Asia: Japan -0.70% to 13519. Hong Kong +2.13% to 22271. China +2.39% to 2101. India +0.84% to 18947.