President Obama Will Act Alone

President Obama Will Act Alone. During last night’s State of the Union speech President Obama said that he would use his executive power to implement his economic and other policies, while highlighting the gap between the rich and poor that has widened during his administration. President Obama announced a dozen proposals including raising the minimum wage to $10.10 an hour for future federal contract workers that would affect about 560,000 people.  Additionally, some analysts believe he will also attempt to use his executive power to act on immigration reform and gun control, two hot buttons with American’s that many constitutional scholars say would be unconstitutional and illegal. During his speech the President also said he plans to create a government-coordinated retirement savings program that would provide a guaranteed return, but not additional specific are available at this time.

Upgrades:

CIT Group (CIT): Buckingham raised their rating from Neutral to Buy and placed a target price of $54.00 on the company.

VMware (VMW): Raymond James raised their rating from Outperform to Strong Buy and placed a target price of $109.00 on the company. Pre-market: 94.00 -0.94 (-0.99%)

Wal-Mart (WMT): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $80.00 to $87.00. Pre-market: 74.81 +0.14 (0.19%)

Downgrades:

WellPoint (WLP): Monness Crespi lowered their rating from Neutral to Sell. Pre-market: 81.60 -2.70 (-3.20%)

Yahoo! (YHOO): Gabelli lowered their rating from Buy to Hold. Pre-market: 35.90 -2.32 (-6.07%)

Earning Reports:

Amgen (AMGN): Reported EPS of $1.82 beating estimates by +0.14. Pre-market: 117.09 -3.61 (-2.99%)

AT&T (T): Reported EPS of $0.53 beating estimates by +0.03. Pre-market: 32.77 -0.93 (-2.76%)

Boeing (BA): Reported EPS of $1.88 beating estimates by +0.31. Pre-market: 131.75 -5.34 (-3.90%)

Cirrus Logic (CRUS): Reported EPS of $0.89 beating estimates by +0.12. Pre-market: 17.50 -1.24 (-6.62%)

Dow Chemical (DOW): Reported EPS of $0.65 beating estimates by +0.22.

EMC (EMC): Reported EPS of $0.60 beating estimates by +0.01. Pre-market: 25.50 +0.12 (0.47%)

Jetblue Airways (JBLU): Reported EPS of $0.14 beating estimates by +0.01. Pre-market: 8.74 0.00 (0.00%)

Novartis AG (NVS): Reported EPS of $1.20 beating estimates by +0.01. Pre-market: 78.94 -0.62 (-0.78%)

Phillips 66 (PSX): Reported EPS of $1.34 beating estimates by +0.24. Pre-market: 73.00 -2.08 (-2.77%)

VMware (VMW): Reported EPS of $1.01 beating estimates by +$0.01. Pre-market: 94.00 -0.94 (-0.99%)

WellPoint (WLP): Reported EPS of $0.87 in-line with estimates. Pre-market: 81.60 -2.70 (-3.20%)

Yahoo! (YHOO): Reported EPS of $0.46 beating estimates by +0.08. Pre-market: 35.90 -2.32 (-6.07%)

Markets:
Futures at 8:33: Dow -0.49%. S&P -0.45%. Nasdaq -0.46%. Crude -0.15% to $97.27. Gold +1.02% to $1263.70. U.S. 10 Year +10/32 to 2.724%.

Europe: London -0.51%. Paris -0.86%. Frankfurt -0.48%.

Asia: Japan +2.70% to 15384. Hong Kong +0.82% to 22142. China +0.56% to 2050. India -0.18% to 20647.

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Morning Coffee Pre-Market Wall Street News

Ford Post Strong Q3 Profits. Ford Motor reports very strong Q3 profits, driven by strength in North America and smaller losses in Europe. The auto maker reported pre-tax earnings of $2.6 billion or EPS of $0.45, easily beating Wall Street estimates of only $0.37. Bob Shanks, Ford's chief financial officer said "North America continues to achieve strong profits and we saw significantly improved results outside North America."  He went on to say "We substantially reduced our losses in Europe, set a record third quarter profit in Asia Pacific Africa and saw a $150 million improvement in South America."

 The company also raised full-year guidance. It expects its full-year pre-tax profit to beat 2012 and expects its automotive operating margins to be higher than last year.

Ford also said it contributed $1.1 billion during Q3 to fund its pension plans worldwide. $700 million was contributed to its U.S. plans. Pre-market: 18.11 +0.59 (3.37%)

Upgrades:

Canadian Pacific Railway (CP): Desjardins raised their rating from Hold to Buy. Pre-market: 142.82 -0.17 (-0.12%)

Canadian Pacific Railway (CP): RBC Capital raised their rating from Underperform to Sector Perform. Pre-market: 142.82 -0.17 (-0.12%)

Eli Lilly (LLY): MKM Partners raised their rating from Neutral to Buy and placed a target price of $59.00 on the company.

Goldman Sachs (GS): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $163.00 to $181.00.

Downgrades:

Caterpillar (CAT): Raymond James lowered their rating from Outperform to Market Perform.

Caterpillar (CAT): JPMorgan lowered their rating from Overweight to Neutral and lowered its target price from $105.00 to $90.00.

Coach (COH): Atlantic Equities lowered their rating from Overweight to Neutral. Pre-market: 48.51 -0.04 (-0.08%)

Green Mountain Coffee Roasters (GMCR): Argus lowered their rating from Buy to Hold.

O”Reilly Automotive (ORLY): Raymond James lowered their rating from Strong Buy to Market Perform.

U.S. Bancorp (USB): Deutsche Bank raised their rating from Buy to Hold and raised their target price from $41.00 to $38.00.

Coverage Initiated:

21^st Century Fox (FOXA): Guggenheim initiated coverage with a Buy rating and target price of $41.00. Pre-market: 34.77 0.00 (0.00%)

CBS Corp (CBS): Guggenheim initiated coverage with a Buy rating and target price of $69.00.

CVS Caremark (CVS): FBR Capital initiated coverage with an Outperform rating and target price of $69.00.

Express Scripts (ESRX): FBR Capital initiated coverage with an Outperform rating and target price of $75.00.

News Corp (NWSA): Guggenheim initiated coverage with a Neutral rating and target price of $19.00.

Time Warner (TWX): Guggenheim initiated coverage with a Buy rating and target price of $80.00.

Viacom B (VIAB): Guggenheim initiated coverage with a Neutral rating and target price of $94.00.

Walgreen (WAG): FBR Capital initiated coverage with a Market Perform rating and target price of $62.00.

Walt Disney (DIS): Guggenheim initiated coverage with a Neutral rating and target price of $78.00.

Earning Reports:

3M (MMM): Reported EPS of $1.78 beating estimates by +$0.03. Pre-market: 123.50 +0.30 (0.24%)

Ball Corp (BLL): Reported EPS of $1.78 beating estimates by +$0.03.

Cabela’s (CAB): Reported EPS of $0.70 missing estimates by -$0.01. Pre-market: 59.82 -2.57 (-4.12%)

Celgene (CELG): Reported EPS of $1.56 beating estimates by +$0.03. Pre-market: 158.50 -1.50 (-0.94%)

Colgate-Palmolive (CL): Reported EPS of $0.73 in-line with estimates. Pre-market: 63.00 -0.47 (-0.74%)

Dow Chemical (DOW): Reported EPS of $0.50 missing estimates by -$0.04. Pre-market: 40.00 -1.04 (-2.53%)

Ford Motor (F): Reported EPS of $0.45 beating estimates by +$0.08. Pre-market: 18.11 +0.59 (3.37%)

Hershey Foods (HSY): Reported EPS of $1.04 beating estimates by +$0.03. Pre-market: 98.00 +1.15 (1.19%)

International Paper (IP): Reported EPS of $0.94 missing estimates by -$0.01. Pre-market: 44.63 +0.24 (0.54%)

Old Dominion Freight (ODFL): Reported EPS of $0.70 missing estimates by -$0.01. Pre-market: 47.00 -0.74 (-1.55%)

Potash (POT): Reported EPS of $0.41 in-line with estimates. Pre-market: 31.05 -0.65 (-2.05%)

Under Armour (UA): Reported EPS of $0.68 beating estimates by +$0.02. Pre-market: 78.97 -5.01 (-5.97%)

Xerox (XRX): Reported EPS of $0.26 beating estimates by +$0.01. Pre-market: 10.41 -0.32 (-2.98%)

Zimmer Hldgs (ZMH): Reported EPS of $1.25 beating estimates by +$0.01.

Markets: 
Futures at 6:20: Dow +0.4%. S&P +0.4%. Nasdaq +0.4%. Crude +0.4% to $97.27. Gold +0.1% to $1335.90. U.S. 10 Year +2/32 2.497%

Europe: London +0.4%. Paris +0.2%. Frankfurt +0.6%. 

Asia: Japan +0.4% to 14486. Hong Kong -0.7% to 22836. China -0.8% to 2165. India -0.2% to 20725. 

Morning Coffee Pre-Market Wall Street News

Shineway in Talks with Smithfield Foods. China based Shineway has been reported to be in talks with Smithfield Foods (SFD) to purchase the company in a deal worth $4.5-5 billion. The acquisition if completed would represent a 25-30% premium over Smithfield's close yesterday of $25.97. Pre-market: 32.34 +6.37 (24.53%)

Upgrades

Analog Devices (ADI): Citigroup raised their rating from Neutral to Buy and raised their target price from $48.00 to $54.00. Pre-market: 45.60 +0.12 (0.26%)

Microchip Tech (MCHP): Citigroup raised their rating from Neutral to Buy and raised their target price from $39.00 to $47.00.

Peugot SA (PEUGY): HSBC Securities raised their rating from Underweight to Neutral.

Downgrades

Brocade (BRCD): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $4.50 on the company. Pre-market: 5.25 -0.13 (-2.42%)

Comerica (CMA): Wunderlich lowered their rating from Buy to Hold and placed a target price of $40.00 on the company.

Coverage Initiated

Flagstar Bancorp (FBC): BTIG initiated coverage with a Buy rating and target price of $18.00.

SeaWorld Entertainment (SEAS): Lazard Capital initiated coverage with a Neutral rating. Pre-market: 37.00 -0.71 (-1.88%)

SeaWorld Entertainment (SEAS): Macquarie initiated coverage with an Outperform rating and target price of $44.00. Pre-market: 37.00 -0.71 (-1.88%)

SeaWorld Entertainment (SEAS): KeyBank initiated coverage with a Buy rating and target price of $45.00. Pre-market: 37.00 -0.71 (-1.88%)

SeaWorld Entertainment (SEAS): JPMorgan initiated coverage with a Neutral rating and target price of $41.00. Pre-market: 37.00 -0.71 (-1.88%)

Earning Reports

Bank of Montreal (BMO): Reported EPS of $1.46 missing estimates by -$0.04. Pre-market: 60.70 -0.51 (-0.83%)

Brown Shoes (BWS): Reported EPS of $0.32 beating estimates by +$0.10.

Chico's FAS (CHS): Reported EPS of $0.32 missing estimates by -$0.04. Pre-market: 18.18 -1.16 (-6.00%)

Movado Group (MOV): Reported EPS of $0.28 beating estimates by +$0.06.

Trina Solar (TSL): Reported EPS of -$0.90 missing estimates by -$0.16.

Wet Seal (WTSL): Reported EPS of $0.03 beating estimates by +$0.03. Pre-market: 4.66 +0.16 (3.56%)

Markets: 
Futures at 8:30: Dow -0.39%. S&P -0.54%. Nasdaq -0.45%. Crude -0.69% to $94.35. Gold +0.66% to $1388.10.

Europe: London -1.47%. Paris -1.22%. Frankfurt -1.42%. 

Asia: Japan +0.10% to 14326. Hong Kong -1.61% to 22555. China +0.12% to 2324. India -0.07% to 20148. 

Morning Coffee Pre-Market Wall Street News

Durable Goods Beats Forecast. Orders for U.S. durable goods increase more than economists had estimated in April. Bookings for equipment, meant to last more than three years rose 3.3%, while economists had expected an increase of only 1.6%.  This come on the heels of March’s revised -5.9% decline. Bookings for commercial aircraft climbed 18.1% last month after slumping 43% in March. Excluding transportation equipment, durable orders climbed 1.3%, which is the first gain in three months. Bookings for non-defense capital goods excluding aircraft increased 1.2% after a 0.9% in March.

Upgrades

Pandora Media (P): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $16.00 to $24.00. Pre-market: 19.07 +1.91 (11.13%)

Procter & Gamble (PG): UBS raised their rating from Neutral to Buy and raised their target price from $75.00 to $95.00. Pre-market: 81.65 +2.95 (3.75%)

Sherwin-Williams (SHW): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $180.00 to $205.00.

Wendy’s (WEN): Janney Capital raised their rating from Neutral to Buy. Pre-arket: 6.20 +0.20 (3.33%)

Downgrades

Cirrus Logic (CRUS): Canaccord lowered their rating from Buy to Hold and lowered their target price from $25.00 to $18.00. Pre-market: 17.86 +0.10 (0.56%)

rue21 (RUE): Janney Capital lowered their rating from Buy to Neutral and placed a target price of $42.00 on the company.

Saks (SKS): Argus lowered their rating from Buy to Hold.

Salesforce.com (CRM): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $51.00 to $42.00. Pre-market: 43.02 -2.67 (-5.84%)

Earning Reports

Abercrombie & Fitch (ANF): Reported EPS of -$0.09 missing estimates by -$0.04. Pre-market: 49.85 -4.52 (-8.31%)

Aeropostale (ARO): Reported EPS of -$0.16 beating estimates by +$0.01. Pre-market: 15.50 -0.98 (-5.95%)

Foot Locker (FL): Reported EPS of $0.91 beating estimates by +$0.03. Pre-market: 34.85 -0.83 (-2.33%)

Gap (GPS): Reported EPS of $0.71 beating estimates by +$0.02. Pre-market: 40.50 -0.86 (-2.08%)

Pandora Media (P): Reported EPS of -$0.10 in-line with estimates. Pre-market: 19.07 +1.91 (11.13%)

Ross Stores (ROST): Reported EPS of $1.07 in-line with estimates.

Salesforce.com (CRM): Reported EPS of $0.10 in-line with estimates. Pre-market: 43.02 -2.67 (-5.84%)

Sears Holdings (SHLD): Reported EPS of -$1.29 missing estimates by -$0.69. Pre-market: 48.95 -9.22 (-15.85%)

Williams-Sonoma (WSM): Reported EPS of $0.41 beating estimates by +$0.05.

Zumiez (ZUMZ): Reported EPS of $0.13 beating estimates by +$0.01.

Markets: 
Futures at 8:25: Dow -0.28%. S&P -0.40%. Nasdaq -0.46%. Crude -0.67% to $93.60. Gold +0.01% to $1392.10.

Europe: London -0.40%. Paris +0.34%. Frankfurt -0.23%. 

Asia: Japan +0.89% to 14612. Hong Kong -0.23% to 22619. China +0.57% to 2289. India +0.15% to 19704. 

Morning Coffee Pre-Market Wall Street News

Microsoft Unveils Xbox One. Yesterday Microsoft (MSFT) unveiled the highly anticipated Xbox One calling it "the ultimate all-in-one entertainment system." The device allows usurers to instantly switch between games, live TV, movies, Skype and the internet using voice recognition and hand jesters. Xbox One also allows multi tasking such as watching TV and browsing the internet or taking a Skype call at the same time. The design is similar to set-top box and has an improved controller, improved Xbox Live UI, improved app and game loading. Switching times have been dramatically improved as you move to different application and the device has new voice and gesture controls.  Pre-market: 34.91 +0.06 (0.17%)

Upgrades

Bristol-Meyers Squibb (BMY): Citigroup raised their rating from Neutral to Buy and raised their target price from $33.00 to $55.00. Pre-market: 44.70 +0.64 (1.45%)

Cree (CREE): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $72.00 on the company. Pre-market: 61.90 +2.05 (3.43%)

Volvo (VOLVY): HSBC Securities raised their rating from Underweight to Neutral.

Downgrades

Comerica (CMA): Oppenheimer lowered their rating from Perform to Underperform and placed a target price of $22.00 on the company. Pre-market: 39.00 -0.65 (-1.64%)

Dick’s Sporting Goods (DKS): BMO Capital lowered their rating from Outperform to Market Perform and placed a target price of $57.00 on the company. Pre-market: 52.34 -0.41 (-0.78%)

Research In Motion (BBRY): BNP Paribas lowered their rating from Neutral to Underperform. Pre-market: 14.59 -0.18 (-1.22%)

Soda Stream (SODA): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 63.30 -1.53 (-2.36%)

SunTrust Banks (STI): Oppenheimer lowered their rating from Outperform to Perform and placed a target price of $32.00 on the company. Pre-market: 32.15 0.00 (0.00%)

Coverage Initiated

Coca-Cola (KO): BMO Capital initiated coverage with a Market Perform rating and target price of $45.00. Pre-market: 42.54 +0.20 (0.47%)

Dr Pepper Snapple (DPS): BMO Capital initiated coverage with a Market Perform rating and target price of $48.00.

Monster Beverage (MNST): BMO Capital initiated coverage with an Outperform rating and target price of $65.00.

PepsiCo (PEP): BMO Capital initiated coverage with an Outperform rating and target price of $92.00. Pre-market: 82.64 +0.01 (0.01%)

Earning Reports

American Eagle (AEO): Reported EPS of $0.18 beating estimates by +$0.01. Pre-market: 19.96 -0.35 (-1.72%)

Analog Devices (ADI): Reported EPS of $0.52 in-line with estimates.

Compuware (CPWR): Reported EPS of -$0.30 missing estimates by -$0.35.

Dycom (DY): Reported EPS of $0.21 beating estimates by +$0.04. Pre-market: 23.89 +3.48 (17.05%)

Intuit (INTU): Reported EPS of $2.97 beating estimates by +$0.04. Pre-market: 58.64 +0.75 (1.30%)

Lowe's (LOW): Reported EPS of $0.49 missing estimates by -$0.01. Pre-market: 41.85 -0.60 (-1.41%)

NetApp (NTAP): Reported EPS of $0.69 beating estimates by +$0.01. Pre-market: 38.85 +2.22 (6.06%)

Staples (SPLS): Reported EPS of $0.26 missing estimates by -$0.01. Pre-market: 14.36 -0.39 (-2.64%)

Target (TGT): Reported EPS of $0.77 missing estimates by -$0.10. Pre-market: 69.69 -1.57 (-2.20%)

Markets: 
Futures at 7:00: Dow +0.12%. S&P +0.17%. Nasdaq +0.17%. Crude -0.93% to $95.81. Gold +0.62% to $1386.00.

Europe: London -0.16%. Paris -0.43%. Frankfurt -0.18%. 

Asia: Japan +1.60% to 15627. Hong Kong -0.45% to 23261. China -0.12% to 2302. India -0.25% to 20062.