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 

Overseas Growth Slows. Overseas economic growth has unexpectedly slowed. Economic growth slowed in Japan during Q3. Capex growth rose just +0.2% for Q3, far below consensus estimates. Economic growth in the eurozone came in at just +0.1% for Q3 also missing economists estimates.  Germany’s economy expanded by 0.3% in Q3, which was in-line with economists’ estimates but must slower than the +0.7% growth posted in Q2. France’s economy turned negative as their economy contracted -0.1% in Q3. Finance Minister Pierre Moscovici said France should still report a modest expansion for the full year.

Upgrades:

Office Depot (ODP): BofA Merrill Lynch raised their rating from Neutral to Buy and placed a target price of $6.50 on the company. Pre-market: 5.51 +0.13 (2.42%)

Downgrades:

Cisco Systems (CSCO): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $26.00 top $23.00. Pre-market: 5.51 +0.13 (2.42%)

Cisco Systems (CSCO): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $30.00 top $25.00. Pre-market: 5.51 +0.13 (2.42%)

Cisco Systems (CSCO): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $28.00 top $25.00. Pre-market: 5.51 +0.13 (2.42%)

PNC Financial (PNC): Oppenheimer lowered their rating from Outperform to Perform.

Coverage Initiated:

BP (BP): Credit Suisse initiated coverage with a Neutral rating.

Royal Dutch Shell (RDS.A): Credit Suisse initiated coverage with an Outperform rating.

Total S.A. (TOT): Credit Suisse initiated coverage with an Outperform rating.

Earning Reports:

Cisco Systems (CSCO): Reported EPS of $0.53 beating estimates by +$0.02. Pre-market: 20.93 -3.07 (-12.77%)

Dillard's (DDS): Reported EPS of $1.13 beating estimates by +$0.07. Pre-market: 90.87 +1.32 (1.47%)

Kolh’s (KSS): Reported EPS of $0.81 missing estimates by -$0.05. Pre-market: 54.10 -4.16 (-7.14%)

Sally Beauty (SBH): Reported EPS of $0.38 missing estimates by -$0.01. Pre-market: 27.50 -0.14 (-0.51%)

Tyco (TYC): Reported EPS of $0.52 in-line with estimates. Pre-market: 37.00 +0.27 (0.74%)

Viacom (VIAB): Reported EPS of $1.55 beating estimates by +$0.11. Pre-market: 82.00 -1.13 (-1.36%)

Wal-Mart (WMT): Reported EPS of $1.14 beating estimates by +$0.01. Pre-market: 77.60 -1.30 (-1.65%)

Markets: 

Futures at 8:12: Dow +0.07%. S&P +0.17%. Nasdaq -0.12%. Crude -0.61% to $93.30. Gold +1.34% to $1285.30. U.S. 10 Year +1/32 2.720%.

Europe: London +0.32%. Paris +0.62%. Frankfurt +0.65%. 

Asia: Japan +2.12% to 14876. Hong Kong +0.82% to 22649. China +0.60% to 2100. India -0.43% to 20399. 

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

Morning Coffee Pre-Market Wall Street News

Eurozone PMI Continues to Rise. The Eurozone continues to recover as the composite PMI increased to a 27-month high of 52.1 from 51.5. Economists had been looking for a reading of only 51.9. Services exceeded expectations, but manufacturing unexpectedly fell. Economists say that the current reading is consistent with GDP growth of 0.2%.

Upgrades:

Copart (CPRT): RW Baird raised their rating from Neutral to Outperform and raised their target price from $38.00 to $42.00. Pre-market: 34.50 +0.75 (2.22%)

Darden Restaurants (DRI): Buckingham raised their rating from Underperform to Neutral and placed a target price of $44.00 on the company.

Maxim Integrated Products (MXIM): Goldman Sachs raised their rating from Neutral to Conviction Buy and raised their target price from $30.00 to $34.00. Pre-market: 30.48 +0.80 (2.70%)

Nokia (NOK): HSBC raised their rating from Underweight to Neutral. Pre-market: 6.56 -0.02 (-0.30%)

Walgreen (WAG): Morgan Stanley raised their rating from Equal Weight to Overweight and placed a target price of $70.00 on the company. Pre-market: 56.00 +0.48 (0.86%)

Zimmer Holdings (ZMH): RBC Capital raised their rating from Sector Perform to Outperform.

Downgrades:

BlackBerry (BBRY): RBC Capital lowered their rating from Sector Perform to Underperform. Pre-market: 8.43 -0.30 (-3.38%)

BlackBerry (BBRY): RW Baird lowered their rating from Neutral to Underperform and lowered their target price from $9.00 to $8.00. Pre-market: 8.43 -0.30 (-3.38%)

Darden Restaurants (DRI): Stephens lowered their rating from Overweight to Equal Weight and lowered their target price from $55.00 to $52.00.

DreamWorks Animation (DWA): B. Riley lowered their rating from Buy to Neutral.

FedEx (FDX): Stifel lowered their rating from Buy to Hold. Pre-market: 115.50 -1.33 (-1.14%)

ING Groep (ING): BNP Paribas lowered their rating from Outperform to Neutral. Pre-market: 11.40 -0.14 (-1.21%)

Oceaneering Intl (OII): Global Hunter lowered their rating from Buy to Neutral and lowered their target price from $92.00 to $81.00.

Coverage Initiated:

Nokia (NOK): Deutsche Bank initiated coverage with a Buy rating. Pre-market: 6.56 -0.02 (-0.30%)

Markets: 
Futures at 6:20: Dow +0.1%. S&P +0.2%. Nasdaq +0.3%. Crude +0.2% to $104.95. Gold -0.8% to $1322. U.S. 10 Year 0/32 2.736%

Europe: London -0.2%. Paris +0.1%. Frankfurt 0.0%. 

Asia: Japan closed. Hong Kong -0.6% to 23372. China +1.3% to 2221. India -1.8% to 19901. 

Morning Coffee Pre-Market Wall Street News

Eurozone Exits Recession. Things just got better for Europe and the world economy. The Eurozone GDP expanded by +0.3% in Q2, topping economist estimates and ending the Eurozone’s recession. Germany’s GDP expanded by +0.7% exceeding estimates and Q1’s flat GDP. Frances GDP came in at +0.5% vs. -0.2% in Q1, which beat estimates. Surprising the market was Portugal Q2 GDP which came in at +1.1% vs -0.4% in Q1 and economists consensus of -0.15%.

Upgrades:

GlaxoSmithKline (GSK): JPMorgan raised their rating from Underweight to Neutral. Pre-market: 52.36 +0.35 (0.67%)

Marvell Tech (MRVL): B Riley raised the rating from Neutral to Buy.

Downgrades:

Aeropostale (ARO): KeyBanc lowered their rating from Hold to Underweight and placed a target price of $10.00 on the company.

AMR Corp. (AAMRQ): JPMorgan lowered their rating from Overweight to Neutral.

Cree (CREE): Northland Securities lowered their rating from Outperform to Market Perform and lowered their target price from $63.00 to $61.00. Pre-market: 63.70 -12.06 (-15.92%)

Cree (CREE): Susquehanna lowered their rating from Positive to Neutral. Pre-market: 63.70 -12.06 (-15.92%)

Cree (CREE): DA Davidson lowered their rating from Buy to Neutral and lowered their target price from $79.00 to $65.00. Pre-market: 63.70 -12.06 (-15.92%)

Delta Airlines (DAL): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 19.46 -0.09 (-0.46%)

ENSCO PLC (ESV): ISI Group lowered their rating from Buy to Neutral.

Noble Corp (NE): ISI Group lowered their rating from Strong Buy to Neutral.

Transocean (RIG): ISI Group lowered their rating from Strong Buy to Neutral. Pre-market: 47.39 -0.13 (-0.27%)

US Airways (LCC): Deutsche Bank lowered their rating from Buy to Hold. Pre-market: 16.31 -0.05 (-0.31%)

US Airways (LCC): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 16.31 -0.05 (-0.31%)

Western Union (WU): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $18.00 to $17.00.

Coverage Initiated:

WisdonTree Investments (WETF): Susquehanna initiated coverage with a Neutral rating and target price of $13.00.

Earning Reports:

Brocade (BRCD): Reported EPS of $0.19 beating estimates by +$0.07. Pre-market: 7.72 +0.82 (11.88%)

Cree (CREE): Reported EPS of $0.38 beating estimates by +$0.01. Pre-market: 63.70 -12.06 (-15.92%)

Deere (DE): Reported EPS of $2.56 beating estimates by +$0.40. Pre-market: 84.60 +0.69 (0.82%)

Jack Henry (JKHY): Reported EPS of $0.55 beating estimates by +$0.03. After Hours: 50.80 +0.03 (0.06%)

Macy's (M): Reported EPS of $0.82 beating estimates by +$0.04. Pre-market: 46.89 -1.61 (-3.32%)

Towers Watson (TW): Reported EPS of $1.36 beating estimates by +$0.09.

Markets: 
Futures at 6:20: Dow -0.13%. S&P -0.15%. Nasdaq -0.12%. Crude -0.70% to $106.10. Gold +0.35% to $1325.10. U.S. 10 Year +1/32 2.722%.

Europe: London -0.11%. Paris +0.36%. Frankfurt +0.12%. 

Asia: Japan +1.32% to 14050. Hong Kong closed. China -0.29% to 2100. India +0.72% to 19368.