JPMorgan Hired Relatives To Get Deals.

JPMorgan Hired Relatives To Get Deals. Reports indicate that JPMorgan (JPM) began hiring relatives of government and other officials to secure banking deals. According to the NYTreports one email says "We lost a deal to DB (Deutsche Bank) today because they got (the) chairman's daughter (to) work for them this summer." JPMorgan and several other U.S. banks are being investigated for their recruitment policies in China and other overseas countries.

Upgrades:

Crocs (CROX): Sterne Agee raised their rating from Underperform to Neutral and placed a target price of $10.00 on the company.

Ensco PLC (ESV): ReserchTeam raised their rating from Reduce to Hold.

Expeditors International (EXPD): ReserchTeam raised their rating from Reduce to Hold.

Foot Locker (FL): ReserchTeam raised their rating from Hold to Accumulate.

Mattel (MAT): ReserchTeam raised their rating from Hold to Accumulate.

Mosaic (MOS): ReserchTeam raised their rating from Reduce to Hold.

Total SA (TOT): ReserchTeam raised their rating from Reduce to Hold.

Walt Disney (DIS): Guggenhein raised their rating from Neutral to Buy and raised their target price from $77.00 to $87.00.

Downgrades:

Cardinal Health (CAH): ReserchTeam lowered their rating from Accumulate to Hold.

Earning Reports:

Cal-Marine Foods (CALM): Reported EPS of $1.08 missing estimates by -$0.03.

Markets: 
Futures at 9:03: Dow +0.02%. S&P -0.03%. Nasdaq -0.13%. Crude -0.28% at $100.04. Gold -0.63% to $1206.60. U.S 10 Year +3/32 to 2.990%

Europe: London -0.32%. Paris +0.06%. Frankfurt -0.39%. 

Asia: Japan +0.69% to 16291. Hong Kong +0.01% at 23245. China -0.18% to 2098. India -0.24% to 21143. 

Gun Sales Propel Smith & Wesson. Smith & Wesson's (SWHC) reported FQ2 earnings of $0.28 beating estimates by a wide margin.  The company also issued higher-than-expected FQ3 guidance. Revenue for the weapons manufacture rose 2% to $139.3M, while income from continuing operations increased to $17.1M. Sales of handguns at the company continue to climb, up a whopping +27% as people rush to purchase weapons for self protects and amid a fresh push for gun control. Pre-market: 12.76 +0.64 (5.28%)

Upgrades:

3M Co. (MMM): Nomura raised their rating from Neutral to Buy and placed a target price of $150.00 on the company. Pre-market: 128.15 +0.60 (0.47%)

Cardinal Health (CAH): Leerink raised their rating from Market Perform to Outperform and raised their target price from $64.00 to $75.00.

General Dynamics (GD): CRT Capital raised their rating from Sell to Fair Value and placed a target price of $89.00 on the company.

Downgrades:

Scripps Networks (SNI): Citigroup lowered their rating from Neutral to Sell. Pre-market: 81.02 +5.77 (7.67%)

Coverage Initiated:

Cisco Systems (CSCO): Mizuho initiated coverage with a Neutral rating and placed a target price of $23.00 on the company.

Cisco Systems (CSCO): Citigroup initiated coverage with a Sell rating and placed a target price of $18.00 on the company.

Ericsson (ERIC): Mizuho initiated coverage with a Buy rating and placed a target price of $15.00 on the company. Pre-market: 11.88 -0.06 (-0.50%)

Motorola Solutions (MSI): Mizuho initiated coverage with a Neutral rating and placed a target price of $63.00 on the company. Pre-market: 21.05 -0.16 (-0.75%)

Nokia (NOK): Mizuho initiated coverage with a Neutral rating and placed a target price of $8.00 on the company. Pre-market: 7.94 +0.02 (0.25%)

Twitter (TWTR): Macquarie initiated coverage with a Neutral rating. Pre-market: 52.90 +0.91 (1.75%)

Earning Reports:

Costco (COST): Reported EPS of $0.96 missing estimates by -$0.06. Pre-market: 118.50 -1.54 (-1.28%)

H&R Block (HRB): Reported EPS of -0.42 missing estimates by -$0.05. Pre-market: 28.55 -0.25 (-0.87%)

Joy Global (JOY): Reported EPS of $1.11 missing estimates by -$0.01. Pre-market: 53.30 -2.94 (-5.23%)

Smith & Wesson (SWHC): Reported EPS of 0.28 beating estimates by +$0.07. Pre-market: 12.76 +0.64 (5.28%)

Markets: 
Futures at 8:10: Dow +0.08%. S&P -0.28%. Nasdaq +0.01%. Crude -0.15% at $98.38. Gold -0.52% to $1254.60. U.S. 10 Year -3/32 to 2.819%.

Europe: London +0.37%. Paris +0.76%. Frankfurt +0.29%. 

Asia: Japan -0.62% to 15515. Hong Kong -1.71% to 23338. China -1.49% at 2204. India -0.39% at 21171. 

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

Twitter to Price IPO Shares.

Twitter to Price IPO Shares. The microblogging Web site Twitter (TWTR) is expected to price its IPO today with shares to begin trading tomorrow on the NYSE. The company raised the price range of the IPO shares to $23-$25 a share. The company is expected to sell 70M shares, which would generate $1.61-1.75B for the company and have a market cap of $12.5-13.6B.

Upgrades:

Cardinal Health (CAH): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $73.00 on the company.

Louisiana-Pacific (LPX): TD Securities raised their rating from Reduce to Hold.

T-Mobile (TMUS): Canaccord raised their rating from Hold to Buy and raised their target price from $25.00 to $33.00.

Downgrades:

Advisory Board (ABCO): Raymond James lowered their rating from Outperform to Market Perform.

Buffalo Wild Wings (BWLD): Miller Tabak lowered their rating from Buy to Hold.

Tenet Healthcare (THC): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $50-$55 to $41-$47.

Unilever (UN/UL): Normura lowered their rating from Buy to Neutral.

Coverage Initiated:

Morningstar (MORN): Keefe Bruyette initiated coverage with a Market Perform rating and target price of $91.00.

Earning Reports:

Carlyle (CG): Reported EPS of $0.51 missing estimates by -$0.08. Pre-market: 29.12 -1.01 (-3.35%)

Humana (HUM): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 91.50 -2.45 (-2.61%)

Magna (MGA): Reported EPS of $1.39 beating estimates by +$0.04.

Polo Ralph Lauren (RL): Reported EPS of $2.23 beating estimates by +$0.03. Pre-market: 179.50 +8.31 (4.85%)

Sturm Ruger (RSG): Reported EPS of $1.44 missing estimates by -$0.02.

Tesla Motors (TSLA): Reported EPS of $0.12 beating estimates by +$0.02. Pre-market: 154.74 -22.07 (-12.48%)

Time Warner (TWX): Reported EPS of $1.01 beating estimates by +$0.12. Pre-market: 68.60 +0.37 (0.54%)

Zillow (Z): Reported EPS of -$0.05 beating estimates by +$0.02. Pre-market: 87.00 +4.69 (5.70%)

Markets: 
Futures at 6:20: Dow +0.5%. S&P +0.6%. Nasdaq +0.4%. Crude +0.8% to $94.11. Gold +0.7% to $1317.30. 

Europe: London +0.1%. Paris +0.9%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 14337. Hong Kong 0.0% at 23037. China -0.8% to 2140. India -0.4% to 20895. 

#RLPaler #WallStreet #TwitterIPO #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

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.