Intel Reports Mixed Results

Intel Reports Mixed Results. Intel (INTC) reported that their Q4 net profit rose +6.4% to $2.63B and that the company’s revenue increased +2.6% to $13.83B topping forecast. But the company also report EPS of only $0.51 missing Wall Street estimates by a penny. Intel also said that it "saw the (PC) market stabilize in the back half" of 2013. Sales at the PC CPU division were flat and operating profit rose 20%. PC sales have been in a decline for some time as consumers switch to mobile devices like smartphones and tablets. Pre-market: 25.29 -1.25 (-4.71%)

Upgrades:

American Express (AXP): Buckingham raised their rating from Neutral to Buy and raised their target price from $90.00 to $104.00. Pre-market: 89.15 +1.37 (1.56%)

American Express (AXP): Susquehanna raised their rating from Neutral to Positive and raised their target price from $90.00 to $107.00. Pre-market: 89.15 +1.37 (1.56%)

IBM (IBM): CLSA raised their rating from Outperform to Buy and raised their target price from $215.00 to $225.00. Pre-market: 189.00 +0.24 (0.13%)

Downgrades:

Best Buy (BBY): UBS lowered their rating from Buy to Neutral and lowered their target price from $48.00 to $29.00. Pre-market: 27.10 +0.27 (1.01%)

Best Buy (BBY): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $45.00 to $28.00. Pre-market: 27.10 +0.27 (1.01%)

Coverage Initiated:

Activision Blizzard (ATVI): CRT Capital initiated coverage with a Buy rating and target price of $23.00. Pre-market: 17.41 +0.08 (0.46%)

Electronic Arts (EA): CRT Capital initiated coverage with a Buy rating and target price of $26.00. Pre-market: 22.80 +1.26 (5.85%)

LinkedIn (LNKD): Topeka initiated coverage with a Hold rating. Pre-market: 229.50 -1.06 (-0.46%)

Nike (NKE): Macquarie initiated coverage with a Neutral rating and target price of $80.00. Pre-market: 74.82 +0.03 (0.04%)

Take-Two Interactive (TTWO): CRT Capital initiated coverage with a Fair Value rating and target price of $19.00. Pre-market: 16.68 0.00 (0.00%)

Earning Reports:

American Express (AXP): Reported EPS of 1.21 missing estimates by -$0.04. Pre-market: 89.15 +1.37 (1.56%)

BNY Mellon (BK): Reported EPS of $0.54 in-line with estimates. Pre-market: 33.46 -0.46 (-1.36%)

Comerica (CMA): Reported EPS of $0.77 beating estimates by +$0.03. Pre-market: 47.67 +0.24 (0.51%)

General Electric (GE): Reported EPS of $0.53 in-line with estimates. Pre-market: 26.55 -0.65 (-2.39%)

Intel (INTC): Reported EPS of 0.51 missing estimates by -$0.01. Pre-market: 25.29 -1.25 (-4.71%)

Morgan Stanley (MS): Reported EPS of $0.50 beating estimates by +$0.08. Pre-market: 32.45 +0.45 (1.41%)

Sallie Mae (SLM): Reported EPS of 0.61 missing estimates by -$0.12.

Schlumberger (SLB): Reported EPS of $1.35 beating estimates by +$0.02. Pre-market: 89.80 +1.19 (1.34%)

SunTrust Bank (STI): Reported EPS of $0.77 beating estimates by +$0.08. Pre-market: 38.55 +0.54 (1.42%)

Markets: 
Futures at 8:32: Dow +0.08%. S&P +0.05%. Nasdaq -0.05%. Crude +0.79% to $94.70. Gold +0.30% to $1243.90. U.S. 10 Year +3/32 to 2.837%.

Europe: London -0.01%. Paris -0.04%. Frankfurt +0.08%. 

Asia: Japan -0.08% to 15734. Hong Kong +0.64% to 23133. China -0.93% to 2005. India -0.95% to 21063. 

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New Year, New “Dogs of the Dow.”

New Year, New “Dogs of the Dow.” With the New Year comes a list of the new “Dogs of the Dow.” This year’s list of the 10 “Dogs of the Dow” looks a lot like the list from 2013. The list consists of the 10 highest yielding stocks in the Dow Jones Index. This year the top honor goes to AT&T (T) with a yield of 5.3%, followed by Verizon (VZ) with a dividend yield of 4.4%. Other companies making the Dog list this year include Merck (MRK), Intel (INTC), Pfizer (PFE), McDonald’s (MCD), Chevron (CVX), General Electric (GE), Cisco (CSCO) and Microsoft (MSFT). Collectively, this year’s “Dogs of the Dow” have a dividend yield of near 4%. Last year the “Dogs” outperform the market with a return of 33%.

Upgrades:

Cadence Design Systems (CDNS): Needham raised their rating from Hold to Buy and placed a target price of $16.00 on the company. Pre-market: 14.51 +0.50 (3.57%)

Infosys Ltd (INFY): HSBC raised their rating from Neutral to Overweight.

Metlife (MET): Janney Capital raised their rating from Neutral to Buy. Pre-market: 53.19 0.00 (0.00%)

Downgrades:

Chubb (CB): Janney Capital lowered their rating from Buy to Neutral.

General Electric (GE): Oppenheimer lowered their rating from Outperform to Perform.

Joy Global (JOY): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $52.00 on the company. Pre-market: 55.00 -1.36 (-2.41%)

Micron Tech (MU): RBC Capital lowered their rating from Outperform to Sector Perform and maintained their target price of $19.00. Pre-market: 21.19 -0.47 (-2.17%)

Prudential Financial (PRU): Janney Capital lowered their rating from Buy to Neutral. Pre-market: 90.76 0.00 (0.00%)

Sprint (S): Stifel lowered their rating from Hold to Sell. Pre-market: 10.08 -0.32 (-3.08%)

Coverage Initiated:

Bank of Montreal (BMO): RBC Capital initiated coverage with an Outperform rating.

Bank of Nova Scotia (BNS): RBC Capital initiated coverage with an Outperform rating.

Canadian Imperial Bank (CM): RBC Capital initiated coverage with a Sector Perform rating.

Toronto Dominion Bank (TD): RBC Capital initiated coverage with an Outperform rating.

Markets: 

Futures at 8:38: Dow +0.20%. S&P +0.20%. Nasdaq +0.06%. Crude -0.31% to $95.13. Gold +0.24% to $1228.20. U.S. 10 Year -3/32 to 3.004%.

Europe: London +0.28%. Paris +0.66%. Frankfurt +0.41%. 

Asia: Japan +0.69% to 16291. Hong Kong -2.25% to 22817. China -0.31% to 2083. India -0.18% to 20851. 

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