Economy Adds 175,000 Jobs in February

Economy Adds 175,000 Jobs in February. After two disappointing job reports in December and January the Labor Department reported that 175,000 jobs were added in February. Economists had expected only 157,000 new jobs would have been created for the month. The unemployment rate did rise to 6.7% from 6.6%. While the December report was revised upward from 75,000 to 82,000 and January was revised to 129,000 from 113,000.

Upgrades:

Charter Communications (CHTR): Northland Securities raised their rating from Market Perform to Outperform.

Clean Harbors (CLH): Raymond James raised their rating from Market Perform to Buy and placed a target price of $60.00 on the company.

Fresh Market (TFM): UBS raised their rating from Neutral to Buy and raised their target price from $45.00 to $48.00. Pre-market: 34.90 +0.90 (2.65%)

Safeway (SWY): UBS raised their rating from Sell to Neutral. Pre-market: 38.08 -1.39 (-3.52%)

Sirius XM (SIRI): Macquarie raised their rating from Neutral to Outperform.

Skullcandy (SKUL): DA Davidson raised their rating from Underperform to Neutral. Pre-market: 9.27 +1.84 (24.76%)

Downgrades:

Safeway (SWY): BB&T lowered their rating from Buy to Hold. Pre-market: 38.08 -1.39 (-3.52%)

Staples (SPLS): Argus lowered their rating from Buy to Hold. Pre-market: 28.66 +0.27 (0.95%)

Coverage Initiated:

MGM Resorts (MGM): Ascendiant initiated coverage with a Buy rating and target price of $33.00. Pre-market: 28.66 +0.27 (0.95%)

Magna International (MGA): TD Securities initiated coverage with a Buy rating.

Salesforce.com (CRM): B. Riley initiated coverage with a Neutral rating and target price of $65.00. Pre-market: 63.14 0.00 (0.00%)

Earning Reports:

Big Lots (BIG): Reported EPS of $0.98 missing estimates by -$0.22. Pre-market: 34.02 +4.77 (16.31%)

Foot Locker (FL): Reported EPS of $0.82 beating estimates by +$0.06. Pre-market: 45.10 +2.37 (5.55%)

Skullcandy (SKUL): Reported EPS of $0.13 beating estimates by +$0.04. Pre-market: 9.27 +1.84 (24.76%)

Markets: 
Futures at 8:33: Dow +0.44%. S&P +0.40%. Nasdaq +0.30%. Crude +0.25% to $101.81. Gold -0.08% to $1350.70. U.S. 10 Year -17/32 to 2.799%.

Europe: London +0.05%. Paris +0.22%. Frankfurt -0.29%. 

Asia: Japan +0.92% to 15274. Hong Kong -0.19% to 22660. China -0.08% to 2058. India +1.89% to 21920. 

#TopWealthManager #RLPaler #FinancialPlanning #WallStreet #AnalystsRatings #EarningReports #LaborDepartment #JobNumbers #Unemployment

Bank of America Being Investigated Again. Once again Bank of America seems to be in trouble with regulators.  This time reports say that the Department of Justice and the Commodity Futures Trading Commission are investigating Bank of America (BAC) for improper trading. The allegations are that the bank improperly carried out its own transactions before executing orders for clients. The probes appear to shed light on an The investigation could pertain to an FBI bulletin that said it suspected traders at two banks of conspiring to manipulate rates on major orders from Fannie Mae (FNMA) and Freddie Mac (FMCC), and of front running the GSE’s in the markets for interest-rate swaps.

Upgrades:

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

Potash (POT): Raymond James raised their rating from Market Perform to Outperform and raised their target price from $30.00 $37.00.

Downgrades:

Cisco Systems (CSCO): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $21.00 to $17.00.

ConocoPhillips (COP): Guggenheim lowered their rating from Buy to Neutral and lowered their target price from $80.00 to $73.00.

Coverage Initiated:

AMC Entertainment (AMC): B. Riley initiated coverage with a Neutral rating and target price of $24.00.

AMC Entertainment (AMC): Stifel initiated coverage with a Buy rating and target price of $24.00.

AMC Entertainment (AMC): Credit Suisse initiated coverage with an Outperform rating and target price of $25.00.

Cabelvision (CVC): Buckingham initiated coverage with a Neutral rating and target price of $18.00.

DIRECTV (DTV): Buckingham initiated coverage with a Buy rating and target price of $85.00.

Dish Network (DISH): Buckingham initiated coverage with a Neutral rating and target price of $60.00.

Finish Line (FINL): initiated coverage with a Neutral rating and target price of $28.00.

Foot Locker (FL): JPMorgan initiated coverage with an Overweight rating and target price of $47.00.

Earning Reports:

Caterpillar (CAT): Reported EPS of $1.54 beating estimates by +$0.36.

Rayonier (RYN): Reported EPS of $0.64 beating estimates by +$0.13.

Regis (RGS): Reported EPS of -$0.04 missing estimates by -$0.06.

Royal Caribbean (RCL): Reported EPS of $0.23 beating estimates by +$0.05.

Markets: 
Futures at 6:20: Dow 0.0%. S&P +0.2%. Nasdaq +0.1%. Crude +0.2% to $96.79. Gold +0.4% to $1269.10. 

Europe:London -1.5%. Paris -0.3%. Frankfurt -0.5%. 

Asia: Japan -2.5% to 15006. Hong Kong -2.1% to 21976. China -1% to 2033. India -2% to 20707. 

#TopWealthManager # RLPaler #WallStreet # PreMarket #WealthManagement #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

JPMorgan Hired Relatives To Get Deals.

JPMorgan Hired Relatives To Get Deals. Reports indicate that JPMorgan (JPM) began hiring relatives of government and other officials to secure banking deals. According to the NYTreports one email says "We lost a deal to DB (Deutsche Bank) today because they got (the) chairman's daughter (to) work for them this summer." JPMorgan and several other U.S. banks are being investigated for their recruitment policies in China and other overseas countries.

Upgrades:

Crocs (CROX): Sterne Agee raised their rating from Underperform to Neutral and placed a target price of $10.00 on the company.

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

Expeditors International (EXPD): ReserchTeam raised their rating from Reduce to Hold.

Foot Locker (FL): ReserchTeam raised their rating from Hold to Accumulate.

Mattel (MAT): ReserchTeam raised their rating from Hold to Accumulate.

Mosaic (MOS): ReserchTeam raised their rating from Reduce to Hold.

Total SA (TOT): ReserchTeam raised their rating from Reduce to Hold.

Walt Disney (DIS): Guggenhein raised their rating from Neutral to Buy and raised their target price from $77.00 to $87.00.

Downgrades:

Cardinal Health (CAH): ReserchTeam lowered their rating from Accumulate to Hold.

Earning Reports:

Cal-Marine Foods (CALM): Reported EPS of $1.08 missing estimates by -$0.03.

Markets: 
Futures at 9:03: Dow +0.02%. S&P -0.03%. Nasdaq -0.13%. Crude -0.28% at $100.04. Gold -0.63% to $1206.60. U.S 10 Year +3/32 to 2.990%

Europe: London -0.32%. Paris +0.06%. Frankfurt -0.39%. 

Asia: Japan +0.69% to 16291. Hong Kong +0.01% at 23245. China -0.18% to 2098. India -0.24% to 21143. 

Morning Coffee Pre-Market Wall Street News

Moody’s Warns of Possible Bank Downgrades. The rating agency Moody's (MCO) said that it has put several major U.S. Banks on review for possible downgrades. Banks that could receive credit downgrades include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS) and Wells Fargo (WFC).

Upgrades:

First Solar (FSLR): Raymond James raised their rating from Underperform to Market Perform.

Toronto-Domino Bank (TD): Scotia Capital raised their rating from Sector Perform to Outperform.

Trina Solar (TSL): Raymond James raised their rating from Underperform to Market Perform.

VMware (VMW): Jefferies raised their rating from Hold to Buy and raised their target price from $86.00 to $105.00.

Downgrades:

Abercrombie & Fitch (ANF): RW Baird lowered their rating from Outperform to Neutral and lowered their target price from $59.00 to $42.00.

Aeropostale (AEO): Topeka lowered their rating from Buy to Hold.

Dick’s Sporting Goods (DKS): Oppenheimer lowered their rating from Outperform to Perform and lowered their target price from $56.00 to $44.00.

Guess? Inc (GES): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $35.00 to $31.00.

Pandora Media (P): Stifel lowered their rating from Buy to Hold.

Pandora Media (P): Raymond James lowered their rating from Outperform to Market Perform.

Staples (SPLS): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price to $15.00 on the company.

Coverage Initiated:

Ball Corp (BLL): Northcoast initiated coverage with a Neutral rating.

Chipotle Mexican Grill (CMG): Northcoast initiated coverage with a Sell rating and target price of $400.00.

Dean Foods (DF): Northcoast initiated coverage with a Neutral rating.

Dunkin Brands Group (DNKN): Northcoast initiated coverage with a Neutral rating.

Panera Bread Co (PNRA): Northcoast initiated coverage with a Buy rating and target price of $205.00.

Tim Hortons (THI): Northcoast initiated coverage with a Buy rating and target price of $72.00.

Earning Reports:

Aeropostale (AEO): Reported EPS of -$0.34 missing estimates by -$0.09.

Autodesk (ADSK): Reported EPS of $0.45 beating estimates by +$0.03.

Foot Locker (FL): Reported EPS of $0.46 missing estimates by -$0.01.

Gap (GPS): Reported EPS of $0.64 in-line with estimates.

Pandora Media (P): Reported EPS of $0.04 beating estimates by +$0.02.

Ross Stores (ROST): Reported EPS of $0.98 beating estimates by +$0.05.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq 0.0%. Crude +0.2% to $105.22. Gold +0.3% to $1374.90.

Europe: London +0.2%. Paris -0.5%. Frankfurt 0.0%. 

Asia: Japan +2.2% to 13661. Hong Kong -0.1% to 21864. China -0.5% to 2057. India +1.1% to 18519. 

Morning Coffee Pre-Market Wall Street News

Bonds Continue to See Massive Outflows. According to a report from TrimTabs outflows from U.S. bond mutual funds and ETFs have risen to $19.7B so far in August. So far this month’s number is the fourth-highest outflow on record and up from $14.8B in July. Since the beginning of June, $103.5B or 2.7% of the total assets invested in bond funds have left the asset class. The mass exodus can be directly tired to fears of the Fed ending its stimulus program which has sent yields higher. This morning the U.S. 10 Year stands at 2.843% its highest yield in over two years. U.S. 10 Year -4/32 2.843%

Upgrades:

American Midstream Partners (AMID): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $19.00-$21.00 to $23.00-$25.00.

Dollar General (DG): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $51.00 to $64.00.

Intel (INTC): Piper Jaffray raised their rating from Underweight to Neutral and raised their target price from $20.00 to $22.00. Pre-market: 22.03 +0.11 (0.52%)

Kaiser Aluminum (KALU): Sterne Agee raised their rating from Neutral to Buy.

Orbital Sciences (ORB): ReserchTeam raised their rating from Reduce to Hold.

Public Storage (PSA): RBC Capital raised their rating from Underperform to Sector Perform and raised their target price from $158.00 to $160.00.

Pulte Group (PHM): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $15.50-$16.50 to $19.00-$20.00. Pre-market: 16.49 +0.21 (1.29%)

Ross Stores (ROST): Morgan Stanley raised their rating from Equal Weight to Overweight and placed a target price of $77.00 on the company. Pre-market: 66.00 +1.24 (1.91%)

Downgrades:

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

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

TRW Automotive (TRW): ResearchTeam lowered their rating from Accumulate to Hold.

Union Pacific (UNP): ResearchTeam lowered their rating from Hold to Reduce.

Coverage Initiated:

Lumber Liquidators (LL): Jefferies initiated coverage with a Buy rating and target price of $115.00.

Earning Reports:

Saks (SKS): Reported EPS of -0.10 missing estimates by -$0.02. Pre-market: 16.00 -0.02 (-0.12%)

Markets:

Futures at 7:28: Dow -0.03%. S&P -0.08%. Nasdaq +0.04%. Crude -0.10% to $107.06. Gold +0.08% to $1372.20. U.S. 10 Year -4/32 2.843%

Europe: London -0.45%. Paris -0.87%. Frankfurt -0.30%. 

Asia: Japan +0.79% to 13758. Hong Kong -0.24% to 22464. China +0.83% to 2086. India -1.56% to 18266.