Government Wants BofA Fined Again.

Government Wants BofA Fined Again. The U.S. government is seeking to fine of Bank of America (BAC) again. This comes after a long list of resent fines, with the most recent for discrimination against black employees. The government is looking to fine the troubled bank the maximum $864 million that is allowed for their Countrywide loan program called. "Hustle." The program was designed to accelerate the creation and sale of loans to Fannie Mae (FNMA) and Freddie Mac (FMCC).

Upgrades:

Best Buy (BBY): UBS raised their rating from Neutral to Buy and raised their target price from $45.00 to $49.00. Pre-market: 43.15 +0.74 (1.74%)

ExxonMobil (XOM): Argus raised their rating from Hold to Buy and placed a target price of $104.00 on the company. Pre-market: 92.86 +0.13 (0.14%)

INVESCO Ltd. (IVZ): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $33-$37 to $38-$42.

TD Ameritrade (AMTD): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $33.00 on the company.

Downgrades:

Deutsche Telekom (DTEGY): Goldman Sachs lowered their rating from Neutral to Sell.

Tata Motors (TTM): Nomura lowered their rating from Buy to Neutral. Pre-market: 29.88 -0.89 (-2.89%)

Coverage Initiated:

Chico’s FAS (CHS): Goldman Sachs initiated coverage with a Neutral rating and target price of $17.00.

Express (EXPR): Goldman Sachs initiated coverage with a Buy rating and target price of $28.00.

Movado (MOV): KeyBanc initiated coverage with a Hold rating.

Twitter (TWTR): Sterne Agee initiated coverage with a Neutral rating. Pre-market: 40.84 -0.81 (-1.94%)

Markets: 
Futures at 8:20: Dow +0.10%. S&P +0.10%. Nasdaq +0.07%. Crude -0.22% to $94.37. Gold -0.12% to $1283.00. U.S. 10 Year +2/32 2.747%

Europe: London +0.29%. Paris +0.48%. Frankfurt +0.18%. 

Asia: Japan +1.30% to 14270. Hong Kong +1.43% to 23070. China +0.16% to 2109. India -0.85% to 20491. 

#RLPaler #WallStreet  #WealthManagement #EarningReports #AnalystsRatings #BankofAmerica #Discrimination #WorstBank

Morning Coffee Pre-Market Wall Street News

Bank of America Pays for Racial Discrimination Against Black Employees. Bank of America (BAC) will pay $160 million after it was sued by black employees. The lawsuit was brought by hundreds of black financial advisers, who accused the bank of not giving them the same opportunities as white advisors in the areas of account distributions and investment teams. Pre-market: 14.09 -0.02 (-0.14%)

Upgrades:

USG Corp (USG): Longbow raised their rating from Neutral to Buy and placed a target price of $28.00 on the company. Pre-market: 23.33 +0.27 (1.17%)

Downgrades:

Taser International (TASR): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $12.00 on the company.

Tiffany & Co (TIF): CLSA lowered their rating from Outperform to Underperform. Pre-market: 79.50 -1.32 (-1.63%)

Coverage Initiated:

Applied Materials (AMAT): Northland Securities initiated coverage with an Outperform rating and target price of $19.00. Pre-market: 15.04 -0.03 (-0.19%)

Arch Coal (ACI): FBR Capital initiated coverage with an Outperform rating and target price of $6.00. Pre-market: 4.65 +0.03 (0.65%)

Laboratory Corp (LH): Craig-Hallum initiated coverage with a Buy rating and target price of $116.00.

Lam Research (LRCX): Northland Securities initiated coverage with an Outperform rating and target price of $59.00.

Earning Reports:

Chico’s FAS (CHS): Reported EPS of $0.27 missing estimates by -$0.05. Pre-market: 15.67 +0.34 (2.22%)

Express (EXPR): Reported EPS of $0.20 in-line with estimates. Pre-market: 21.75 +1.95 (9.85%)

Joy Global (JOY): Reported EPS of $1.70 beating estimates by +$0.34. Pre-market: 48.80 -2.51 (-4.89%)

Zale (ZLC): Reported EPS of- $0.25 beating estimates by +$0.58. Pre-market: 10.49 +1.53 (17.08%)

Markets: 
Futures at 8:45: Dow +0.09%. S&P +0.04%. Nasdaq +0.09%. Crude +1.28% to $110.38. Gold +0.44% to $1426.40. U.S. 10 Year -15/32 2.767%.

Europe: London -0.60%. Paris -0.49%. Frankfurt -1.54%. 

Asia: Japan -1.51% to 13338. Hong Kong -1.60% to 21525. China -0.11% to 2101. India +0.16% to 17996.