Bank of America Being Investigated Again. Once again Bank of America seems to be in trouble with regulators.  This time reports say that the Department of Justice and the Commodity Futures Trading Commission are investigating Bank of America (BAC) for improper trading. The allegations are that the bank improperly carried out its own transactions before executing orders for clients. The probes appear to shed light on an The investigation could pertain to an FBI bulletin that said it suspected traders at two banks of conspiring to manipulate rates on major orders from Fannie Mae (FNMA) and Freddie Mac (FMCC), and of front running the GSE’s in the markets for interest-rate swaps.

Upgrades:

AGL Resources (GAS): ResearchTeam raised their rating from Reduce to Hold.

Potash (POT): Raymond James raised their rating from Market Perform to Outperform and raised their target price from $30.00 $37.00.

Downgrades:

Cisco Systems (CSCO): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $21.00 to $17.00.

ConocoPhillips (COP): Guggenheim lowered their rating from Buy to Neutral and lowered their target price from $80.00 to $73.00.

Coverage Initiated:

AMC Entertainment (AMC): B. Riley initiated coverage with a Neutral rating and target price of $24.00.

AMC Entertainment (AMC): Stifel initiated coverage with a Buy rating and target price of $24.00.

AMC Entertainment (AMC): Credit Suisse initiated coverage with an Outperform rating and target price of $25.00.

Cabelvision (CVC): Buckingham initiated coverage with a Neutral rating and target price of $18.00.

DIRECTV (DTV): Buckingham initiated coverage with a Buy rating and target price of $85.00.

Dish Network (DISH): Buckingham initiated coverage with a Neutral rating and target price of $60.00.

Finish Line (FINL): initiated coverage with a Neutral rating and target price of $28.00.

Foot Locker (FL): JPMorgan initiated coverage with an Overweight rating and target price of $47.00.

Earning Reports:

Caterpillar (CAT): Reported EPS of $1.54 beating estimates by +$0.36.

Rayonier (RYN): Reported EPS of $0.64 beating estimates by +$0.13.

Regis (RGS): Reported EPS of -$0.04 missing estimates by -$0.06.

Royal Caribbean (RCL): Reported EPS of $0.23 beating estimates by +$0.05.

Markets: 
Futures at 6:20: Dow 0.0%. S&P +0.2%. Nasdaq +0.1%. Crude +0.2% to $96.79. Gold +0.4% to $1269.10. 

Europe:London -1.5%. Paris -0.3%. Frankfurt -0.5%. 

Asia: Japan -2.5% to 15006. Hong Kong -2.1% to 21976. China -1% to 2033. India -2% to 20707. 

#TopWealthManager # RLPaler #WallStreet # PreMarket #WealthManagement #AnalystsRatings 

Morning Coffee Pre-Market Wall Street News

Syria Causes World Markets to Fall. U.S. stock futures, Asia and European markets are all lower on worries that the U.S. will take military action against Syria. This comes after Sec. of State John Kerry said yesterday that Syria did use chemical weapons against its own civilian population. The U.S. military has moved both equipment and personnel into the area and now has four destroyer ships in the Mediterranean along with several nuclear-powered submarines, all within cruise-missile range. The thought of a U.S. military response has also sent the Turkish lira to a record low of 2.0299 to the dollar and oil up+2.36% to $108.38 a barrel.

Upgrades:

Gulfport Energy (GPOR): Capital One raised their rating from Add to Strong Buy and raised their target price from $79.00 to $85.00. Pre-market: 57.72 +0.12 (0.21%)

Monsanto (MON): UBS raised their rating from Neutral to Buy and maintained their target price of $110.00. Pre-market: 98.02 +0.37 (0.38%)

Downgrades:

Apache Corp (APA): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 78.50 -1.23 (-1.54%)

Coverage Initiated:

Athlon Energy (ATHL): Goldman Sachs initiated coverage with a Neutral rating and placed a target price of $33.00 on the company. Pre-market: 30.00 0.00 (0.00%)

Athlon Energy (ATHL): Wells Fargo initiated coverage with an Outperform rating and placed a target range of $33.00-$36.00 on the company. Pre-market: 30.00 0.00 (0.00%)

Athlon Energy (ATHL): UBS initiated coverage with a Neutral rating and placed a target price of $31.00 on the company. Pre-market: 30.00 0.00 (0.00%)

Athlon Energy (ATHL): RBC Capital initiated coverage with an Outperform rating and placed a target price of $37.00 on the company. Pre-market: 30.00 0.00 (0.00%)

DirecTV (DTV): Raymond James initiated coverage with an Outperform rating and placed a target price of $69.00 on the company. Pre-market: 57.34 -0.15 (-0.26%)

DISH Network (DISH): Raymond James initiated coverage with an Underperform rating.

IntercontinentalExchange (ICE): Wells Fargo initiated coverage with an Outperform.

Earning Reports:

Bank of Montreal (BMO): Reported EPS of $1.68 beating estimates by +$0.14.

Brown Shoe (BWS): Reported EPS of $0.33 beating estimates by +$0.11. Pre-market: 24.75 +1.05 (4.43%)

Movado Group (MOV): Reported EPS of $0.44 beating estimates by +$0.12. Pre-market: 39.97 +1.97 (5.18%)

Regis (RGS): Reported EPS of $0.06 missing estimates by -$0.06.

Tiffany & Co (TIF): Reported EPS of $0.83 beating estimates by +$0.11. Pre-market: 82.25 +0.58 (0.71%)

Markets: 
Futures at 8:01: Dow -0.56%. S&P -0.75%. Nasdaq -0.77%. Crude +2.36% to $108.38. Gold +1.76% to $1417.70. U.S. 10 Year +9/32 2.759%

Europe: London -0.75%. Paris -1.83%. Frankfurt -1.89%. 

Asia: Japan -0.69% to 13542. Hong Kong -0.59% to 21875. China +0.34% to 2104. India -3.18% to 17968.