King Obama Uses His Pen

King Obama Uses His Pen. During the State of the Union speech President Obama said that “We’re not just going to be waiting for legislation, or plans, or any logical idea of what will actually result in order to make sure that we’re providing Americans the kind of help I’ve decided they need,” He went on to say “I’ve got a pen, I’ve got paper, scotch tape, a fax machine, a copier, a phone, and a whole box of those binder clips.”  Working around Congress the President used his pen and changed his Obamacare law once again. The latest law change will delay the part of Obamacare, saying that businesses with 50-99 full-time workers won't have to provide health insurance to their workers until 2016. Which analysts say is a political move designed to put off the requirement until after the election. Larger companies will have to cover at least 70% of employees by 2015 and 95% buy 2016. The original law states that companies had to offer health coverage this year.

Upgrades:

Allscripts (MDRX): Maxim raised their rating from Hold to Buy and placed a target price of $20.00 on the company.

Eastman Chemical (EMN): ResearchTeam lowered their rating from Reduce to Hold.

Ralph Lauren (RL): Atlantic Equities raised their rating from Neutral to Overweight and placed a target price of $187.00 on the company.

Tata Motors (TTM): Nomura raised their rating from Neutral to Buy. Pre-market: 30.14 -0.48 (-1.57%)

Downgrades:

CVS Caremark (CVS): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 68.29 +1.35 (2.02%)

KB Homes (KBH): Raymond James lowered their rating from Market Perform to Underperform. Pre-market: 18.57 -0.31 (-1.64%)

Lennar (LEN): Raymond James lowered their rating from Outperform to Strong Buy and placed a target price of $46.00 on the company. Pre-market: 40.64 -0.25 (-0.61%)

United States Steel (X): Citigroup lowered their rating from Neutral to Sell and lowered their target price from $28.00 to $23.00.

Coverage Initiated:

AT&T (T): Drexel Hamilton initiated coverage with a Buy rating and target price of $40.00. Pre-market: 32.60 +0.16 (0.49%)

Thermo Fisher (TMO): JPMorgan initiated coverage with an Overweight rating and target price of $135.00.

Earning Reports:

CVS Caremark (CVS): Reported EPS of $1.12 beating estimates by +$0.01. Pre-market: 68.29 +1.35 (2.02%)

Dean Foods (DF): Reported EPS of $0.18 missing estimates by -$0.01. Pre-market: 13.40 -1.80 (-11.84%)

Health Net (HNT): Reported EPS of $0.24 missing estimates by -$0.04. Pre-market: 33.50 +0.75 (2.29%)

Marsh McLennan (MMC): Reported EPS of $0.54 missing estimates by -$0.02.

Mosaic (MOS): Reported EPS of $0.36 missing estimates by -$0.06. Pre-market: 47.35 +0.53 (1.13%)

Reynolds American (RAI): Reported EPS of $0.77 missing estimates by -$0.04. Pre-market: 48.50 -0.31 (-0.64%)

Sprint (S): Reported EPS of -$0.26 beating estimates by +$0.07. Pre-market: 8.25 +0.56 (7.28%)

Markets: 
Futures at 8:17: Dow +0.40%. S&P +0.36%. Nasdaq +0.43%. Crude +0.14% to $100.20. Gold +0.93% to $1286.50. U.S. 10 Year -8/32 to 2.70%.

Europe: London +0.83%. Paris +0.63%. Frankfurt +1.48%. 

Asia: Japan closed. Hong Kong +1.78% to 21963. China +0.84% to 2104. India +0.14% to 20363. 

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Google Reports Mixed Results. Internet giant Google (GOOG) reported that their Q4 net profit climbed +17% to $3.38B and revenue grew +17% to $16.86B. Both numbers topped Wall Street’s estimates. EPS at the company came in at only $12.01 missing expectations. Google's paid click growth continued to accelerate in Q4 and was boosted by mobile searches and product listing ads. The company also announced a stock split that is scheduled to take place on April 2.  The split will create a new none voting “C” class of shares which will trade under a new symbol GOOGL. Shareholders as of March 27 will receive one share of “C” class shares for each share of voting Class A stock owned. Pre-market: 1,183.00 +47.61 (4.19%)

Upgrades:

Baker Hughes (BHI): Argus raised their rating from Hold to Buy.

Cracker Barrel (CRBL): Miller Tabak raised their rating from Hold to Buy and placed a target price of $114.00 on the company. Pre-market: 98.25 +0.47 (0.48%)

Hillshire Brands (HSH): Wells Fargo raised their rating from Underperform to Market Perform and raised their target range from $28.00-$30.00 to $33.00-$34.00.

Raytheon (RTN): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $114.00 on the company. Pre-market: 91.89 0.00 (0.00%)

Raytheon (RTN): Drexel Hamilton raised their rating from Hold to Buy. Pre-market: 91.89 0.00 (0.00%)

Wal-Mart (WMT): Credit Suisse raised their rating from Neutral to Outperform.

Downgrades:

Constellation Brands (STZ): HSBC lowered their rating from Neutral to Underweight. Pre-market: 76.50 -1.09 (-1.40%)

Earning Reports:

AbbVie (ABBV): Reported EPS of $0.82 in-line with estimates. Pre-market: 49.85 +1.54 (3.19%)

Amazon.com (AMNZ): Reported EPS of $0.51 missing estimates by -$0.18. Pre-market: 368.20 -34.81 (-8.64%)

Broadcom (BRCM): Reported EPS of $0.60 beating estimates by +$0.03. Pre-market: 29.25 +0.04 (0.14%)

Chevron (CVX): Reported EPS of $2.57 missing estimates by -$0.01. Pre-market: 114.83 -1.62 (-1.39%)

Eastman Chemical (EMN): Reported EPS of $1.35 beating estimates by +$0.10. Pre-market: 76.55 +0.58 (0.76%)

Google (GOOG): Reported EPS of $12.01 missing estimates by -$0.28. Pre-market: 1,183.00 +47.61 (4.19%)

MasterCard (MA): Reported EPS of $0.57 missing estimates by -$0.03. Pre-market: 76.52 -3.24 (-4.06%)

Mattel (MAT): Reported EPS of $1.07 missing estimates by -$0.13. Pre-market: 76.57 -3.19 (-4.00%)

National Oilwell Varco (NOV): Reported EPS of $1.56 beating estimates by +$0.17. Pre-market: 75.10 +1.45 (1.97%)

Weyerhaeuser (WY): Reported EPS of $0.27 missing estimates by +$0.01. Pre-market: 29.23 -1.54 (-5.00%)

Wynn Resorts (WYNN): Reported EPS of $2.27 beating estimates by +$0.54. Pre-market: 206.99 +5.48 (2.72%)

Markets: 
Futures at 8:19: Dow -1.07%. S&P -0.94%. Nasdaq -0.45%. Crude -1.06% to $97.18. Gold +0.52% to $1248.60. U.S. 10 Year +9/32 to 2.662%.

Europe: London -1.63%. Paris -1.67%. Frankfurt -1.84%. 

Asia: Japan -0.62% to 14915. Hong Kong -0.48% to 22035. China +0.56% to 2050. India +0.08% to 20514. 

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