World Economic Growth Accelerating

World Economic Growth Accelerating. The World Bank announced that they expect global economic growth to accelerate to 3.2% in 2014 from 2.4% in 2013. The banks Global Economic Prospects report forecast that the U.S. economy will expand by 2.8% from 1.8% and goes on to say that the worlds advanced economies seem "to be finally turning the corner" following the financial crisis.

Upgrades:

Dick’s Sporting Goods (DKS): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $56.00 to $65.00.

Intel (INTC): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $21.00 to $31.00. Pre-market: 26.75 +0.24 (0.91%)

Western Digital (WDC): Pacific Crest raised their rating from Sector Perform to Outperform and placed a target price of $105.00 on the company. Pre-market: 88.70 +0.81 (0.92%)

Downgrades:

Airgas (ARG): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $101.00 on the company.

Cirrus Logic (CRUS): Pacific Crest lowered their rating from Sector Perform to Underperform and placed a target price of $14.00 on the company. Pre-market: 19.30 -0.80 (-3.98%)

Dollar General (DG): S&P lowered their rating from 4 Stars to 2 Stars.

PETsMART (PETM): UBS lowered their rating from Buy to Neutral and lowered their target price from $82.00 to $72.00. Pre-market: 65.88 -1.22 (-1.82%)

Unilever (UN/UL): JPMorgan lowered their rating from Neutral to Underweight. Pre-market: 38.32 -0.73 (-1.87%) / Pre-market: 39.30 -0.66 (-1.65%)

Coverage Initiated:

FedEx (FDX): Susquehanna initiated coverage with a Neutral rating and target price of $150.00.

Morgan Stanley (MS): Keefe Bruyette initiated coverage with a Market Perform rating and target price of $34.00. Pre-market: 31.48 +0.38 (1.22%)

United Parcel Service (UPS): Susquehanna initiated coverage with a Neutral rating and target price of $107.00.

Earning Reports:

Bank of America (BAC): Reported EPS of $0.29 beating estimates by +$0.03. Pre-market: 17.16 +0.39 (2.33%)

Fastenal (FAST): Reported EPS of $0.33 missing estimates by -$0.01. After Hours: 48.49 +0.28 (0.58%)

Markets: 
Futures at 7:16: Dow +0.23%. S&P +0.20%. Nasdaq +0.34%. Crude +0.55% to $92.10. Gold -0.61% to $1237.80. U.S. 10 Year +1/32 to 2.868%.

Europe: London +0.40%. Paris +0.92%. Frankfurt +1.22%. 

Asia: Japan +2.50% to 15809. Hong Kong +0.49% to 22902. China -0.17% to 2023. India +1.22% to 21289. 

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

Bitcoin Value Sinks. China’s largest Bitcoin exchange BTC China was forced to stop accepting deposits in the Chinese currency on Wednesday, sending the price of the virtual money crashing. By Wednesday evening, BTC was quoting Bitcoins at about 2,300 renminbi, or about $380, apiece a decline in price of nearly -40%.  According to reports, the People’s Bank of China and the Chinese central bank, met Monday with the country’s largest third-party payment processing companies and ordered them to stop all transactions involving digital currencies.

Upgrades:

Western Union (WU): Macquarie raised their rating from Neutral to Outperform. Pre-market: 16.90 +0.43 (2.61%)

Downgrades:

Jabil Circuits (JBL): Longbow lowered their rating from Buy to Neutral. Pre-market: 16.20 -3.52 (-17.85%)

Coverage Initiated:

Fresh Markets (TFM): Stephens initiated coverage with an Overweight and target price of $50.00.

Groupon (GRPN): Northland Securities initiated coverage with an Outperform rating. Pre-market: 10.81 +0.14 (1.31%)

Sprouts Farmers Market (SFM): Stephens initiated coverage with an Equal Weight and target price of $40.00.

Whole Foods Market (WFM): Stephens initiated coverage with an Equal Weight and target price of $61.00. Pre-market: 57.60 +0.29 (0.51%)

Earning Reports:

FedEx (FDX): Reported EPS of $1.57 missing estimates by -$0.08. Pre-market: 138.27 -0.82 (-0.59%)

General Mills (GIS): Reported EPS of $0.83 missing estimates by -$0.05. Pre-market: 48.25 -1.33 (-2.68%)

Jabil Circuits (JBL): Reported EPS of $0.51 missing estimates by -$0.03. Pre-market: 16.20 -3.52 (-17.85%)

VeriFone (PAY): Reported EPS of $0.27 beating estimates by +$0.01. Pre-market: 23.80 -1.20 (-4.80%)

Markets: 
Futures at 7:39: Dow +0.25%. S&P +0.14%. Nasdaq +0.11%. Crude +0.16% to $97.38. Gold +0.15% to $1232.00. U.S. 10 Year -8/32 to 2.873%

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Europe: London +0.27%. Paris +0.88%. Frankfurt +1.12%. 

Asia: Japan +2.02% to 15587.8. Hong Kong +0.32% to 23144. China -0.13% to 2148. India +1.20% 20860. 

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

Coca-Cola Announces Reorganization

Coca-Cola Announces Reorganization. Coca-Cola (KO) has announced a major reorganization of its Americas business.  The company will split its North American unit into two units as part of their strategy to return to a franchise model in the U.S. Additionally, Steve Cahillane head of Americas, who was considered a possible successor to CEO Muhtar Kent will depart the company. This now leave International boss Ahmet Bozer as the number two in the company and possible CEO successor. Pre-market: 39.64 +0.43 (1.10%)

Upgrades:

Advance Auto Parts (AAP): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $131.00 on the company.

Amazon.com (AMZN): ISI Group raised their rating from Buy to Strong Buy. Pre-market: 385.25 +4.00 (1.05%)

Bed Bath & Beyond (BBBY): ISI Group raised their rating from Cautious to Neutral.

FedEx (FDX): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $124.00 to $190.00. Pre-market: 138.00 +1.66 (1.22%)

Northern Trust (NTRS): Macquarie raised their rating from Neutral to Outperform.

Quicksilver (ZQK): B. Riley raised their rating from Neutral to Buy and raised their target price from $6.50 to $10.00. Pre-market: 7.82 +0.09 (1.16%)

United States Steel (X): Cowen raised their rating from Neutral to Outperform.

Western Digital (WDC): Citigroup raised their rating from Neutral to Buy and raised their target price from $71.00 to $100.00.

Downgrades:

BP plc (BP): UBS lowered their rating from Buy to Neutral. Pre-market: 45.74 -0.43 (-0.93%)

Restoration Hardware (RH): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $92.00 to $65.00. Pre-market: 60.00 -5.27 (-8.07%)

Coverage Initiated:

Chevron (CVX): RBC Capital initiated coverage with a Sector Perform rating and placed a target price of $120.00 on the company. Pre-market: 121.20 +0.21 (0.17%)

Coca-Cola (KO): Janney Capital initiated coverage with a Buy rating and placed a target price of $52.00 on the company. Pre-market: 39.64 +0.43 (1.10%)

Exxon Mobil (XOM): RBC Capital initiated coverage with an Outperform rating and placed a target price of $105.00 on the company. Pre-market: 95.75 +0.39 (0.41%)

Earning Reports:

Adobe Systems (ADBE): Reported EPS of $0.32 in-line with estimates. Pre-market: 57.60 +3.61 (6.69%)

Quicksilver (ZQK): Reported EPS of -$0.04 missing estimates by -$0.08. Pre-market: 7.82 +0.09 (1.16%)

Restoration Hardware (RH): Reported EPS of $0.32 beating estimates by +$0.04. Pre-market: 60.00 -5.27 (-8.07%)

Markets: 
Futures at 6:31: Dow +0.29%. S&P +0.38%. Nasdaq +0.41%. Crude -0.45% to $97.06. Gold +0.24% to $1228.30. U.S. 10 Year +2/32 to 2.877%.

Europe: London +0.16%. Paris +0.28%. Frankfurt +0.18%. 

Asia: Japan +0.40% to 15403. Hong Kong +0.12% to 23246. China -0.31% to 2196. India -1.00% to 20716. 

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

Walmart Announces Black Friday Deals.

Walmart Announces Black Friday Deals. Today Walmart, the nation's largest retailer announced their highly anticipated Black Friday deals.  The retailer plans to begin its sales deals on Thanksgiving evening at 6:00 p.m. Electronics will play an even more prominent role this year at the retailer, with an expanded list of TV’s, tablets, and video games going on sale. The company is offering a 32” HD TV for only $98.00. Walmart is also expanding its "one-hour guarantee" policy. The policy is that if you're in line between 6 p.m. and 7 p.m. or 8 p.m. and 9 p.m. on Thursday, Nov. 28, the company guarantees you'll either be able to purchase the item that night, or receive it by Christmas. This year, 21 items will be covered by the guarantee. According to the National Retail Federation holiday shoppers are expected to spend about 3.9% more this year than they did last year. Walmart’s sales deals can be found at: http://www.walmart.com/cp/1076614

Upgrades:

Western Union (WU): First Analysis raised their rating from Equal Weight to Overweight and placed a target price of $22.00 on the company.

Downgrades:

Costco (COST): UBS lowered their rating from Buy to Neutral and placed a target price of $24.00 on the company.

Intel (INTC): MKM Partners lowered their rating from Buy to Neutral and placed a target price of $25.00 on the company.

FedEx (FDX): Cowen lowered their rating from Outperform to Market Perform.

Symantec (SYNA): Macquarie lowered their rating from Outperform to Neutral.

Coverage Initiated:

Tenet Healthcare (THC): JPMorgan initiated coverage with an Overweight rating and target price of $50.00.

Twitter (TWTR): RW Baird initiated coverage with a Neutral rating and target price of $48.00.

Earning Reports:

Dean Foods (DF): Reported EPS of $0.12 missing estimates by -$0.01.

DISH Network (DISH): Reported EPS of $0.68 beating estimates by +$0.25.

DR Horton (DHI): Reported EPS of $0.40 in-line with estimates.

NRG Energy (NRG): Reported EPS of $0.37 missing estimates by -$0.52.

Yingli Green Energy (YGE): Reported EPS of $0.24 missing estimates by -$0.03.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.2%. Nasdaq -0.2%. Crude -0.3% to $94.90. Gold -0.1% to $1280.

Europe: London -0.3%. Paris -0.3%. Frankfurt -0.3%. 

 Asia: Japan +2.2% to 14589. Hong Kong -0.7% to 22901. China +0.8% to 2127. India -1% to 20282. 

#RLPaler #WallStreet #WealthManagement #EarningReports #AnalystsRatings #Walmart #BlackFriday #ThanksgivingSale

Morning Coffee Pre-Market Wall Street News

Fitch Warns of Possible U.S. Credit Rating Downgrade. Fitch announced that they have placed the United States AAA debt rating on rating “watch negative." The company could lower their rating even if the debt ceiling is raised, stating that "Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default." Standard & Poor's downgraded the rating to AA-plus with a stable outlook back in 2011. Moody's Investors Service rates U.S. government debt at Aaa with a stable outlook.

Upgrades:

Alaska Air Group (ALK): Imperial Capital raised their rating from In-Line to Outperform.

Intel (INTC): B. Riley raised their rating from Neutral to Buy.

Downgrades:

Brown & Brown (BRO): Stephens lowered their rating from Overweight to Equal Weight and lowered their target price from $38.00 to $35.00.

Cisco Systems (CSCO): MKM Partners lowered their rating from Buy to Neutral and lowered their target price from $28.00 to $26.00.

Diamond Offshore (DO): BMO Capital lowered their rating from Market Perform to Underperform and lowered their target price from $70.00 to $64.00.

ENCSO (ESV): BMO Capital lowered their rating from Market Perform to Underperform and lowered their target price from $65.00 to $61.00.

FedEx (FDX): Buckingham lowered their rating from Buy to Neutral and lowered their target price from $122.00 to $120.00.

INVESCO (IVZ): JPMorgan lowered their rating from Overweight to Neutral.

INVESCO (IVZ): JPMorgan lowered their rating from Buy to Neutral and placed a target price of $33.00 on the company.

Noble Energy (NE): BMO Capital lowered their rating from Market Perform to Underperform and lowered their target price from $47.00 to $70.00.

Stanley Black & Decker (SWK): RW Baird lowered their rating from Outperform to Neutral.

Transocean (RIG): BMO Capital lowered their rating from Market Perform to Underperform and lowered their target price from $54.00 to $43.00.

Coverage Initiated:

Allegheny Technology (ATI): Sterne Agee initiated coverage with an Underperform rating and target price of $27.00.

Smith & Wesson (SWHC): Lake Street Agee initiated coverage with Hold rating and target price of $12.00.

United States Steel (X): Credit Suisse initiated coverage with Neutral rating and target price of $19.00.

Earning Reports:

Abbott Labs (ABT): Reported EPS of $0.55 beating estimates by +$0.03.

Bank of America (BAC): Reported EPS of $0.20 beating estimates by +$0.01.

BlackRock (BLK): Reported EPS of $3.88 missing estimates by -$0.01.

BNY Mellon (BK): Reported EPS of $0.60 beating estimates by +$0.02.

Intel (INTC): Reported EPS of $0.58 beating estimates by +$0.05.

Mattel (MAT): Reported EPS of $1.16 beating estimates by +$0.04.

Northern Trust (NTRS): Reported EPS of $0.76 missing estimates by -$0.01.

PepsiCo (PEP): Reported EPS of $1.24 beating estimates by +$0.07.

PNC (PNC): Reported EPS of $1.69 beating estimates by +$0.07.

St Jude Medical (STJ): Reported EPS of $0.90 beating estimates by +$0.01.

Yahoo! (YHOO): Reported EPS of $0.34 beating estimates by +$0.01.

Markets: 
Futures at 6:20: Dow +0.4%. S&P +0.4%. Nasdaq +0.1%. Crude 0.0% at $101.18. Gold +0.4% to $1278.50. U.S. 10 Year -1/32 to 2.72%

Europe: London -0.6%. Paris -0.9%. Frankfurt -0.1%. 

Asia: Japan +0.2% to 14467. Hong Kong -0.5% to 23228. China -1.8% to 2193. India closed. 

#RLPaler