Nike Post Nice Earnings

Nike Post Nice Earnings. Nike's (NKE) reported that their FQ2 profit jumped +40% to $537M. Earnings at the company came in at $0.59 topping Wall Street estimates, while revenue climbed +8% to $6.43B, but missed consensus. Nike saw strong sales growth in North America, Western Europe and China. The company also gave upbeat future guidance. Pre-market: 77.50 -0.76 (-0.97%)

Upgrades:

3M Co. (MMM): JPMorgan raised their rating from Underweight to Neutral and raised their target price from $120.00 to $128.00. Pre-market: 136.69 +0.28 (0.21%)

Carnival (CCL): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $30.00 to $43.00. Pre-market: 39.35 +1.30 (3.42%)

RedHat (RHT): Raymond James raised their rating from Market Perform to Outperform. Pre-market: 55.90 +6.90 (14.08%)

RedHat (RHT): UBS raised their rating from Neutral to Buy and raised their target price from $53.00 to $58.00. Pre-market: 55.90 +6.90 (14.08%)

Coverage Initiated:

Silicon Labs (SLAB): Stephens initiated coverage with an Equal Weight rating and target price of $40.00. Pre-market: 41.10 0.00 (0.00%)

Tesco Corp (TESO): Iberia initiated coverage with an Outperform rating and target price of $26.00. Pre-market: 18.89 0.00 (0.00%)

Twitter (TWTR): BMO Capital initiated coverage with a Market Perform rating and target price of $55.00. Pre-market: 58.26 +0.77 (1.34%)

Wynn Resorts (WYNN): Argus initiated coverage with a Buy rating and target price of $210.00. Pre-market: 185.50 +0.39 (0.21%)

Earning Reports:

BlackBerry (BBRY): Reported EPS of -$0.67 missing estimates by -$0.24. Pre-market: 6.36 +0.11 (1.76%)

CarMax (KMX): Reported EPS of $0.47 missing estimates by -$0.01. Pre-market: 50.50 -2.55 (-4.81%)

Cintas (CTAS): Reported EPS of $0.70 beating estimates by +$0.02. Pre-market: 56.48 0.00 (0.00%)

Finish Line (FINL): Reported EPS of $0.70 beating estimates by +$0.02. Pre-market: 28.20 +2.06 (7.88%)

Navistar (NAV): Reported EPS of -$1.90 missing estimates by -$0.33. Pre-market: 37.50 -1.96 (-4.97%)

Nike (NKE): Reported EPS of $0.59 beating estimates by +$0.01. Pre-market: 77.50 -0.76 (-0.97%)

RedHat (RHT): Reported EPS of $0.42 beating estimates by +$0.07. Pre-market: 55.90 +6.90 (14.08%)

Walgreens (WAG): Reported EPS of $0.72 in-line with estimates. Pre-market: 55.68 -1.26 (-2.21%)

Markets: 
Futures at 8:03: Dow +0.11%. S&P +0.12%. Nasdaq +0.16%. Crude -0.27% to $98.79. Gold -0.14% to $1191.70. U.S. 10 Year -5/32 to 2.949%.

Europe: London +0.22%. Paris +0.06%. Frankfurt +0.44%. 

Asia: Japan +0.07% to 15870. Hong Kong -0.33% to 22812. China -2.02% to 2085. India +1.79% to 21079. 

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

Morning Coffee Pre-Market Wall Street News

BlackBerry to be Acquired. Troubled cell phone maker BlackBerry (BBRY) has agreed to be acquired for $4.7 billion. A consortium led by Fairfax Financial will pay $9.00 share in cash and roll over its existing 9.9% stake into its buyout offer.  Fairfax Financial will rely on other investors to finance the rest of the deal via equity and debt. BlackBerry can look at competing bids up until the due diligence is completed. Pre-market: 8.79 -0.03 (-0.34%)

Upgrades:

Apple (AAPL): Susquehanna raised their rating from Neutral to Positive and raised their target price from $440.00 to $625.00. Pre-market: 495.60 +4.96 (1.01%)

BlackBerry (BBRY): Cowen raised their rating from Underperform to Market Perform and raised their target price from $8.00 to $9.00. Pre-market: 8.79 -0.03 (-0.34%)

BlackBerry (BBRY): Canaccord raised their rating from Sell to Hold and placed a target price of $9.00 on the company. Pre-market: 8.79 -0.03 (-0.34%)

Microchip Tech (MCHP): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $42.00 to $46.00. Pre-market: 40.84 +0.51 (1.26%)

Downgrades:

Automatic Data Processing (ADP): RBC Capital lowered their rating from Outperform to Sector Perform.

DirecTV (DTV): Moffett Research lowered their rating from Buy to Neutral.

Equifax (EFX): RBC Capital lowered their rating from Outperform to Sector Perform.

Red Hat (RHT): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 47.55 -5.38 (-10.16%)

Coverage Initiated:

Automatic Data Processing (ADP): UBS initiated coverage with a Neutral rating and target price of $110.00.

Sturm Ruger & Company (RGR): Dougherty initiated coverage with a Neutral rating.

Tata Motors (TTM): Bernstein initiated coverage with an Outperform rating.

Earning Reports:

CarMax (KMX): Reported EPS of $0.62 beating estimates by +$0.07. Pre-market: 52.22 +2.21 (4.42%)

KB Home (KBH): Reported EPS of $0.28 beating estimates by +$0.07. Pre-market: 16.86 -0.17 (-1.00%)

Lennar (LEN): Reported EPS of $0.54 beating estimates by +$0.08. Pre-market: 35.10 +0.56 (1.62%)

Red Hat (RHT): Reported EPS of $0.35 beating estimates by +$0.02. Pre-market: 47.55 -5.38 (-10.16%)

Markets: 
Futures at 8:14: Dow +0.02%. S&P -0.02%. Nasdaq +0.09%. Crude -0.60% to $102.96. Gold -0.93% to $1315.00. U.S. 10 Year +5/32 2.688%

Europe: London +0.27%. Paris +0.69%. Frankfurt +0.25%. 

Asia: Japan -0.07% to 14732. Hong Kong -0.82% to 23179. China -0.61% to 2207. India +0.10% to 19911. 

Morning Coffee Pre-Market Wall Street News

Oracle Misses Earnings, Shares Get Hammered. Oracle (ORCL) reported Q4 net profit rose 10% to $3.8B and adjusted EPS came in at $0.87 missing Wall Street estimates. Revenue at the company was flat at $10.9B. Some on Wall Street view the company as coming late to the “Cloud” and playing catch-up causing the pressure on earnings and organic growth. Additionally the company said that it would move from the NASDAQ to the NYSE on July 15^th. Once the move is completed Oracle will continue to trade under its current ticket symbol ORCL. Pre-market: 30.75 -2.46 (-7.41%)

Upgrades:

Bayer AG (BAYRY): Goldman Sachs raised their rating from Neutral to Buy.

Cardinal Health (CAH): William Blair raised their rating from Market Perform to Outperform. After Hours: 47.32 +0.25 (0.54%)

Facebook (FB): UBS raised their rating from Neutral to Buy and raised their target price from $28.00 to $30.00. Pre-market: 24.42 +0.52 (2.18%)

Forest Labs (FRX): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $40.00 to $50.00. Pre-market: 41.08 +0.89 (2.21%)

Kennametal (KMT): Barrington raised their rating from Market Perform to Outperform and placed a target price of $45.00 on the company.

Kimberly-Clark (KMB): BMO Capital raised their rating from Underperform to Market Perform and placed a target price of $96.00 on the company. After Hours: 95.00 +0.34 (0.36%)

NetGear (NTGR): Wedbush raised their rating from Neutral to Outperform and raised their target price from $32.00 to $38.00.

Southern Co (SO): Citigroup raised their rating from Neutral to Buy and maintained their target price of $51.00. Pre-market: 43.00 +0.52 (1.22%)

Streelcase (SCS): Longbow raised their rating from Neutral to Buy and placed a target price of $18.00 on the company.

Downgrades:

Diageo PLC (DEO): Santander lowered their rating from Buy to Hold. Pre-market: 115.78 +2.08 (1.83%)

ITT Educational (ESI): Argus lowered their rating from Hold to Sell. Pre-market: 24.85 -0.08 (-0.32%)

Newmont Mining (NEM): UBS lowered their rating from Buy to Neutral. Pre-market: 29.90 +0.15 (0.50%)

Coverage Initiated:

Burger King Worldwide (BKW): Wells Fargo initiated coverage with a Market Perform rating and target range of $21.00 - $22.00.

Wendy’s (WEN): Wells Fargo initiated coverage with a Market Perform rating and target range of $6.00 - $7.00.

Earning Reports:

CarMax (KMX): Reported EPS of $0.64 beating estimates by +$0.06. Pre-market: 45.24 +0.67 (1.50%)

Darden Restaurants (DRI): Reported EPS of $1.01 missing estimates by -$0.04. Pre-market: 51.00 -0.23 (-0.45%)

Oracle (ORCL): Reported EPS of $0.87 missing estimates by -$0.01. Pre-market: 30.75 -2.46 (-7.41%)

TIBCO Software (TIBX): Reported EPS of $0.18 in-line with estimates. Pre-market: 21.36 +0.35 (1.67%)

Markets: 

Futures at 7:00: Dow +0.63%. S&P +0.65%. Nasdaq +0.52%. Crude +0.36% to $95.49. Gold +0.45% to $1292.20.

Europe: London +0.87%. Paris +0.67%. Frankfurt +0.21%. 

Asia: Japan +1.66% to 13230. Hong Kong -0.59% to 20263. China -0.52% to 2073. India +0.29% at 18774.