Overseas Business Activity Slows

Overseas Business Activity Slows. Business activities in both China and the Eurozone are continuing to slow. For the fifth straight month in China, the flash manufacturing PMI fell to 48.1 in March from 48.5 in February and missing economist estimates of 48.7. In the Eurozone the flash composite PMI fell to 53.2 from 53.3 in February but topped economist consensus of 52.6. The latest PMI survey signals a 0.5% increase in Q1 GDP after growth of 0.3% in Q4.

Upgrades:

Boston Scientific (BSX): Bernstein raised their rating from Market Perform to Outperform and raised their target price from $12.00 to $15.00. Pre-market: 13.07 +0.25 (1.95%)

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

Ross Stores (ROST): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $79.00 to $81.00. Pre-market: 74.40 +1.43 (1.96%)

United Continental Holdings (UAL): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $52.00 on the company. Pre-market: 45.02 +0.69 (1.56%)

US Bancorp (USB): Atlantic Equities raised their rating from Underweight to Neutral. Pre-market: 43.08 +0.06 (0.14%)

VMware (VMW): Sterne Agee raised their rating from Neutral to Buy. Pre-market: 110.33 +1.12 (1.03%)

Wells Fargo (WFC): Atlantic Equities raised their rating from Underweight to Neutral. Pre-market: 49.50 +0.38 (0.77%)

Yelp (YELP): JMP Securities raised their rating from Market Perform to Outperform and placed a target price of $113.00 on the company. Pre-market: 86.00 +2.57 (3.08%)

Downgrades:

Abbott (ABT): ResearchTeam lowered their rating from Hold to Reduce.

AFLAC (AFL): ResearchTeam lowered their rating from Hold to Reduce.

Bank of America (BAC): Alantic Equities lowered their rating from Overweight to Neutral and lowered their target price from $20.00 to $18.50. Pre-market: 45.02 +0.69 (1.56%)

National Oilwell (NOV): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 74.58 +0.11 (0.15%)

Nike (NKE): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 75.49 +0.28 (0.37%)

Tiffany & Co. (TIF): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $101.00 to $100.00. Pre-market: 89.11 -1.62 (-1.79%)

Coverage Initiated:

T-Mobile (TMUS): Evercore initiated coverage with an Equal Weight rating and target price of $34.00.

Markets: 
Futures at 8:34: Dow +0.20%. S&P +0.26%. Nasdaq +0.31%. Crude +0.52% to $99.98. Gold -0.97% to $1323.10. U.S. 10 Year -6/32 to 2.768%.

Europe: London -0.13%. Paris -0.20%. Frankfurt -0.23%. 

Asia: Japan +1.77% to 14475.3. Hong Kong +1.91% to 21846. China +0.91% to 2066. India +1.38% to 22055. 

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Panic for people with Bitcoins

Panic for people with Bitcoins. One of the largest Bitcoin exchanges has disappeared causing the price of Bitcoins to tank. One of the world’s largest Bitcoin exchanges Mt Gox website is gone. Reports say that the company may have experienced a major security breach and is about to go bankrupt. A leaked document shows that 744,400 bitcoins worth $350M have been stolen from the company.

Upgrades:

Canadian Imperial Bank (CM): ResearchTeam raised their rating from Reduce to Hold.

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

Hormel Foods (HRL): ResearchTeam raised their rating from Reduce to Hold.

McDonalds (MCD): ResearchTeam raised their rating from Reduce to Hold.

Nike (NKE): ResearchTeam raised their rating from Reduce to Hold.

Royal Bank of Canada (RY): ResearchTeam raised their rating from Reduce to Hold.

UnitedHealth (UNH): ResearchTeam raised their rating from Reduce to Hold.

Verizon (VZ): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $54.00 to $57.00. Pre-market: 46.06 -0.17 (-0.37%)

Downgrades:

Sonoco Products (SON): S&P lowered their rating from 3 stars to 1 star.

Tenet Healthcare (THC): CRT Capital lowered their rating from Buy to Fair Value and lowered their rating from $51.00 to $41.50. Pre-market: 47.63 -0.70 (-1.45%)

Coverage Initiated:

Adobe Systems (ADBE): Susquehanna initiated coverage with a Positive rating and target price of $83.00. Pre-market: 68.83 +0.07 (0.09%)

Alaska Air (ALK): Stifel initiated coverage with a Buy rating and target price of $100.00.

Delta Air Lines (DAL): Stifel initiated coverage with a Buy rating and target price of $40.00.

Spirit Airlines (SAVE): Stifel initiated coverage with a Buy rating and target price of $65.00. Pre-market: 56.00 +0.71 (1.28%)

Southwest Airlines (LUV): Stifel initiated coverage with a Hold rating.

United Continental (UAL): Stifel initiated coverage with a Buy rating and target price of $60.00. Pre-market: 46.12 +0.02 (0.04%)

Earning Reports:

EOG Resources (EOG): Reported EPS of $2.00 beating estimates by +$0.05. Pre-market: 183.10 +2.70 (1.50%)

Home Depot (HD): Reported EPS of $0.73 beating estimates by +$0.03. Pre-market: 79.70 +1.83 (2.35%)

Macy’s (M): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 51.64 -1.42 (-2.68%)

Office Depot (ODP): Reported EPS of -$0.03 missing estimates by -$0.07. Pre-market: 4.34 -1.01 (-18.88%)

Toll Brothers (TOLL): Reported EPS of $0.25 beating estimates by +$0.06. Pre-market: 38.30 -0.04 (-0.10%)

Markets: 
Futures at 7:43: Dow -0.13%. S&P -0.22%. Nasdaq -0.17%. Crude -0.89% to $101.90. Gold -0.38% to $1332.90. U.S. 10 Year 0/32 to 2.738%.

Europe: London -1.05%. Paris -0.53%. Frankfurt -0.50%. 

Asia: Japan +1.44% to 15051.6. Hong Kong -0.32% to 22317. China -2.05% to 2034. India +0.20% to 20844. 

#TopWealthManager #RLPaler #WallStreet #AnalystsRatings #EarningReports #FinancialPlanning 

Eurozone PMI Rises as China’s Falls

Eurozone PMI Rises as China’s Falls. The Eurozone manufacturing PMI rose to a 32-month high of 54 in January up from a prior reading of 52.7 in December. The data is consistent with GDP growth of just 0.4-0.5% in Q1. While, China's PMI fell to a six-month low of 50.5 in January, down from 51 in December. Non-manufacturing print fell to the lowest level since December 2008, falling to 53.4 from 54.6. This is just the latest indicator showing that China’s economy is slowing.

Upgrades:

Baker Hughes (BHI): ResearchTeam raised their rating from Reduce to Hold.

Goldman Sachs (GS): Guggenheim raised their rating from Neutral to Buy and placed a target price of $200.00 on the company. Pre-market: 165.70 +1.58 (0.96%)

MasterCard (MA): Susquehanna raised their rating from Positive to Neutral and raised their target price from $70.00 to $91.00. Pre-market: 76.15 +0.47 (0.62%)

Microsoft (MSFT): ResearchTeam raised their rating from Reduce to Hold. Pre-market: 37.63 -0.21 (-0.55%)

Northrop Grumman (NOC): Drexel Hamilton raised their rating from Hold to Buy.

Downgrades:

Abbott Labs (ABT): ReseachTeam lowered their rating from Hold to Reduce.

Apple (AAPL): ReseachTeam lowered their rating from Hold to Reduce. Pre-market: 503.00 +2.40 (0.48%)

Celgene (CELG): ReseachTeam lowered their rating from Hold to Reduce. Pre-market: 152.19 +0.26 (0.17%)

ENSCO (ESV): Raymond James lowered their rating from Outperform to Market Perform.

International Paper (IP): ResearchTeam lowered their rating from Accumulate to Hold.

Lear Corp. (LEA): CRT Capital lowered their rating from Buy to Fair Value. Pre-market: 72.33 0.00 (0.00%)

Mattel (MAT): Longbow lowered their rating from Buy to Neutral. Pre-market: 37.59 -0.25 (-0.66%)

Mattel (MAT): B. Riley lowered their rating from Buy to Neutral and lowered their target price from $55.00 to $41.00. Pre-market: 37.59 -0.25 (-0.66%)

Mattel (MAT): SunTrust lowered their rating from Buy to Neutral and lowered their target price from $50.00 to $40.00. Pre-market: 37.59 -0.25 (-0.66%)

Noble Corp. (NE): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 30.88 -0.15 (-0.48%)

Praxair (PX): ReseachTeam lowered their rating from Hold to Reduce.

Earning Reports:

Sysco (SYY): Reported EPS of $0.48 in-line with estimates. Pre-market: 35.10 +0.02 (0.06%)

Markets: 
Futures at 8:20: Dow +0.20%. S&P +0.21%. Nasdaq +0.16%. Crude +0.04% to $97.54. Gold +0.56% to $1246.80. U.S. 10 Year -6/32 to 2.672%.

Europe: London -0.43%. Paris -0.34%. Frankfurt -0.71%. 

Asia: Japan -1.98% to 14619, Hong Kong -0.48% to 22035, China +0.56% to 2050. India -0.48% at 20415. 

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

Alcoa to Kickoff Q4 Earnings Season Today.

Alcoa to Kickoff Q4 Earnings Season Today. Alcoa (AA) will kickoff the Q4 earnings season today after the market close. Wall Street always watches very closely as since some believe that the company can give indications of how other industrial companies performed.  The first few days and weeks of earning season can be volatile as Wall Street interprets earning results.  Alcoa is expected to report Q4 EPS of $0.06 on a decline of revenue of 8.8% to %5.38 billion.   

Upgrades:

Dupont (DD): Bank of America Merrill Lynch raised their rating from Neutral to Buy and placed a target price of $70.00 on the company.

Forest Labs (FRX): Buckingham raised their rating from Neutral to Buy and raised their target price from $63.00 to $84.00.

Halliburton (HAL): Howard Weil raised their rating from Sector Perform to Outperform.

Johnson & Johnson (JNJ): Jefferies raised their rating from Hold to Buy and raised their target price from $102.00 to $108.00.

McDonalds (MCD): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $93.00 to $115.00.

Smith & Wesson (SWHC): Sidoti raised their rating from Neutral to Buy.

Downgrades:

Buffalo Wild Wings (BWLD): Morgan Stanley lowered their rating from Overweight to Underweight and lowered their target price from $144.00 to $143.00.

Diamond Offshore Drilling (DO): Howard Weil lowered their rating from Outperform to Sector Perform.

ENSCO (ESV): Howard Weil lowered their rating from Focus List to Outperform.

Family Dollar (FDO): MKM Partners lowered their rating from Buy to Neutral.

Yum! Brands (YUM): Morgan Stanley lowered their rating from Overweight to Equal Weight and lowered their target price from $81.00 to $77.00.

Coverage Initiated:

Bank of America (BAC): Nomura initiated coverage with a Buy rating and target price of $19.00.

Charles Schwab (SCHW): Nomura initiated coverage with a Neutral rating and target price of $23.00.

Citigroup (C): Nomura initiated coverage with a Buy rating and target price of $70.00.

CVS Caremark (CVS): Leerink initiated coverage with a Outperform rating and target price of $85.00.

E*Trade (ETFC): Nomura initiated coverage with a Buy rating and target price of $23.00.

Goldman Sachs (GS): Nomura initiated coverage with a Neutral rating and target price of $172.00.

JPMorgan Chase (JPM): Nomura initiated coverage with a Neutral rating and target price of $61.00.

Morgan Stanley (MS): Nomura initiated coverage with a Neutral rating and target price of $34.00.

Raymond James (RJF): Nomura initiated coverage with a Buy rating and target price of $60.00.

TD Ameritrade (AMTD): Nomura initiated coverage with a Neutral rating and target price of $32.00.

Western Union (WU): BTIG initiated coverage with a Buy rating and target price of $23.00.

Earning Reports:

Family Dollar (FDO): Reported EPS of $0.68 missing estimates by -$0.01.

Supervalu (SVU): Reported EPS of $0.13 in-line with estimates.

Markets: 
Futures at 9:14: Dow +0.24%. S&P +0.10%. Nasdaq +0.16%. Crude +0.34% to $92.63. Gold +0.05% to $1226.10. U.S. 10 Year +4/32 to 2.978%.

Europe: London -0.02%. Paris -0.14%. Frankfurt +0.17%.

Asia: Japan -1.50% to 15880. Hong Kong -0.91% to 22787. China -0.82% to 2028. India -0.08% to 20713. 

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

Men’s Wearhouse in Hostile Bid for Jos A. Bank.

Men’s Wearhouse in Hostile Bid for Jos A. Bank. Men's Wearhouse (MW) has increased its bid for Jos. A. Bank Clothiers (JOSB) to $57.50 a share. Its earlier offer of $55.00 was rejected by Jos. A. Bank back in November.  (MW) Pre-market: 52.96 +2.37 (4.68%) (JOSB) Pre-market: 57.00 +2.59 (4.76%)

Upgrades:

Boston Scientific (BSX): Oppenheimer raised their rating from Equal Weight to Overweight and placed a target price of $15.00 on the company. Pre-market: 12.15 +0.22 (1.84%)

Celgene (CELG): ResearchTeam raised their rating from Hold to Accumulate. Pre-market: 166.00 -3.81 (-2.24%)

ConocoPhillips (COP): Raymond James raised their rating from Underperform to Market Perform.

Urban Outfitters (URBN): Ascendiant raised their rating from Buy to Strong Buy and placed a target price of $55.00 on the company.

Wynn Resorts (WYNN): Citigroup raised their rating from Neutral to Buy and raised their target price from $167.92 to $222.00. Pre-market: 198.55 +2.55 (1.30%)

Zimmer Holdings (ZMH): Leerink raised their rating from Market Perform to Outperform and raised their target price from $93.00 to $110.00.

Downgrades:

AFLAC (AFL): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $67.00 to $66.00.

AFLAC (AFL): ResearchTeam lowered their rating from Hold to Reduce.

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

Apple (AAPL): Standpoint Research lowered their rating from Hold to Sell. Pre-market: 537.99 -2.99 (-0.55%)

Celgene (CELG): Goldman Sachs lowered their rating from Neutral to Sell and maintained their target price of $140.00. Pre-market: 166.00 -3.81 (-2.24%)

Devon Energy (DVN): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 60.60 -0.43 (-0.70%)

eBay (EBAY): Morgan Stanley lowered their rating from Overweight to Equal Weight. Pre-market: 52.10 -1.16 (-2.18%)

Ensco PLC (ESV): ResearchTeam lowered their rating from Hold to Reduce.

Foot Locker (FL): ResearchTeam lowered their rating from Accumulate to Hold.

Halliburton (HAL): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 50.31 +0.18 (0.36%)

Patterson-UTI Energy (PTEN): Guggenheim lowered their rating from Buy to Neutral.

Total SA (TOT): ResearchTeam lowered their rating from Hold to Reduce.

Twitter (TWTR): CRT Capital lowered their rating from Buy to Fair Value. Pre-market: 65.05 -3.95 (-5.72%)

Wendy’s (WEN): Janney Capital lowered their rating from Buy to Neutral and placed a target price of $9.00 on the company. Pre-market: 8.40 -0.28 (-3.23%)

Coverage Initiated:

Phillip Morris Intl (PM): Standpoint Research initiated coverage with a Sell rating. Pre-market: 86.51 +0.98 (1.14%)

Markets: 
Futures at 7:46: Dow +0.20%. S&P +0.18%. Nasdaq +0.11%. Crude +0.40% to $94.33. Gold -0.07% to $1237.70.  U.S. 10 Year +6/32 to 2.978%.

Europe: London +0.17%. Paris +0.01%. Frankfurt +0.26%. 

Asia: Japan -2.35% to 15909. Hong Kong -0.58% to 22684. China -1.80% to 2046. India -0.31% to 20787. 

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