Bank of America Faces More Lawsuits

Bank of America Faces More Lawsuits. Bank of America (BAC) is again being investigated by the U.S. Attorney’s Office with regards to the Federal Housing Administration's direct endorsement program. This is occurring while authorities in North America, Europe and Asia are probing BofA's conduct and practices in forex markets. The troubled banks potential litigation liabilities now stand at $6.1B versus just a year ago when it stood at $3.1B. Pre-market: 16.37 +0.03 (0.18%)

Upgrades:

Kroger (KR): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $38.00 to $46.00.

LinkedIn (LNKD): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $225.00 to $250.00. Pre-market: 216.60 +6.76 (3.22%)

Masco (MAS): KeyBanc raised their rating from Underweight to Hold. Pre-market: 22.99 +0.29 (1.28%)

Downgrades:

DreamWorks Animation (DWA): Piper Jaffray lowered their rating from Neutral to Underweight. Pre-market: 30.73 -4.47 (-12.70%)

Humana (HUM): Citigroup lowered their rating from Neutral to Sell.

Newmont Mining (NEM): Argus lowered their rating from Buy to Hold. Pre-market: 23.43 -0.32 (-1.35%)

Safeway (SWY): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $41.00 to $40.00. Pre-market: 37.00 -0.13 (-0.35%)

Toll Brothers (TOLL): Keefe Bruyette lowered their rating from Outperform to Market Perform and lowered their target price from $42.00 to $40.00.

Coverage Initiated:

La Jolla Pharmaceutical (LJPC): Wedbush initiated coverage with an Outperform rating and target price of $27.00. Pre-market: 9.54 +1.94 (25.53%)

Earning Reports:

Abercrombie & Fitch (ANF): Reported EPS of $1.34 beating estimates by +$0.29. Pre-market: 37.90 +1.91 (5.31%)

Dollar Tree (DLTR): Reported EPS of $1.02 beating estimates by +$0.04. Pre-market: 50.55 -2.13 (-4.04%)

DreamWorks Animation (DWA): Reported EPS of $0.20 missing estimates by -$0.20. Pre-market: 30.73 -4.47 (-12.70%)

Dycom (DY): Reported EPS of -$0.09 in-line with estimates.

Lowe’s (LOW): Reported EPS of $0.31 in-line with estimates. Pre-market: 49.73 +1.62 (3.37%)

Royal Bank of Canada (RY): Reported EPS of $1.44 missing estimates by -$0.01.

SodaStream (SODA): Reported EPS of $0.16 beating estimates by +$0.02. Pre-market: 39.78 +0.70 (1.79%)

Target (TGT): Reported EPS of $0.81 in-line with estimates. Pre-market: 57.31 +0.80 (1.42%)

TASER (TASR): Reported EPS of $0.13 beating estimates by +$0.05. Pre-market: 20.50 +1.40 (7.33%)

Markets: 
Futures at 8:18: Dow +0.07%. S&P +0.09%. Nasdaq +0.10%. Crude +0.55% to $102.39. Gold -0.79% to $1332.20. U.S. 10 Year -3/32 to 2.713%.

Europe: London -0.46%. Paris -0.51%. Frankfurt -0.45%. 

Asia: Japan -0.54% to 14971. Hong Kong +0.54% to 22437. China +0.35% to 2041. India +0.65% to 20987. 

#TopWealthManager #RLPaler #WallStreet #AnalystsRatings #EarningReports #FinancialPlanning 

CBO Says Obamacare Leads to Job Loss

CBO Says Obamacare Leads to Job Loss. According to the nonpartisan Congressional Budget Office, Obamacare will lead to a sharp decline in the number of hours worked equating to 2 million full-time jobs by 2017. We have already seen companies hiring part time workers instead of full time workers due to the law. Now the CBO says the law will cause some lower income workers to limit their hours to avoid losing federal subsidies provided by Obamacare.  House of Representatives Speaker John Boehner said in a statement. "The president's healthcare law creates uncertainty for small businesses, hurts take-home pay, and makes it harder to invest in new workers. The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse."

Upgrades:

Archer Daniels Midland (ADM): Scotia Capital raised their rating from Sector Perform to Outperform. Pre-market: 38.47 +0.24 (0.63%)

Archer Daniels Midland (ADM): Citigroup raised their rating from Neutral to Buy and placed a target price of $45.00 on the company. Pre-market: 38.47 +0.24 (0.63%)

Becton Dickinson (BDX): Raymond James raised their rating from Underperform to Market Perform.

BlackRock (BLK): Susquehanna raised their rating from Neutral to Positive and raised their target price from $321.00 to $348.00. Pre-market: 289.74 -0.01 (0.00%)

Church & Dwight (CHD): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $65.00 to $71.00.

Zillow Inc. (Z): CRT Capital raised their rating from Fair Value to Buy. Pre-market: 78.76 +0.15 (0.19%)

Downgrades:

Eaton Corp (ETN): MKM Partners lowered their rating from Buy to Neutral. Pre-market: 67.58 -1.07 (-1.56%)

Sirius XM (SIRI): Wunderlich lowered their rating from Buy to Hold and lowered their target price from $4.20 to $3.80.

Coverage Initiated:

Deckers Outdoors (DECK): B Riley initiated coverage with a Buy rating and target price of $98.00. Pre-market: 75.58 -0.17 (-0.22%)

Laboratory Corp. (LH): Maxim initiated coverage with a Buy rating and target price of $110.00.

Earning Reports:

AFLAC (AFL): Reported EPS of $1.40 beating estimates by +$0.01. After Hours: 62.00 +0.53 (0.86%)

Cognizant Tech (CTSH): Reported EPS of $1.15 in-line with estimates. Pre-market: 92.25 -4.76 (-4.91%)

Estee Lauder (EL): Reported EPS of $1.09 beating estimates by +$0.03. Pre-market: 69.40 +0.21 (0.30%)

GlaxoSmithKline (GSK): Reported EPS of $0.30 in-line with estimates. Pre-market: 52.05 +1.15 (2.26%)

Humana (HUM): Reported EPS of -$0.19 missing estimates by -$1.12.

Merck (MRK): Reported EPS of $0.88 missing estimates by -$0.01. Pre-market: 54.28 +0.77 (1.44%)

Time Warner (TWX): Reported EPS of $1.17 beating estimates by +$0.01. Pre-market: 62.50 +0.10 (0.16%)

Markets: 

Futures at 7:55: Dow -0.16%. S&P -0.27%. Nasdaq -0.21%. Crude +0.58% to $97.75. Gold +0.62% to $1259.00. U.S. 10 Year +6/32 to 2.612%.

Europe: London +0.27%. Paris -0.05%. Frankfurt -0.17%. 

Asia, Japan +1.23% to 14180. Hong Kong -0.60% to 21269. China closed. India +0.24% to 20261. 

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

Macy’s Beats Wall Street’s Estimates.

Macy’s Beats Wall Street’s Estimates. Shares retailer Macy's (M) are higher in the pre-market after the company posted Q3 profits that beat Wall Street expectations and made positive comments about the upcoming holiday shopping season. The company reported EPS $0.47, up 31% from a year ago. Analysts' consensus estimate was only $0.39. Macy's has posted 15 straight quarters of improved earnings. Revenue came in at $6.28 billion, up 3.3% also beating estimates. Sales were up 3.5%.

Upgrades:

Qualcomm (QCOM): Goldman Sachs raised their rating from Buy to Conviction Buy and raised their target price of $80.00.

Transocean (RIG): Guggenheim raised their rating from Neutral to Buy and placed a target price of $70.00 on the company.

United States Steel (X): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $32.00 to $35.00.

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

Downgrades:

Agrium (AGU): BGC Financial lowered their rating from Buy to Hold.

Cadence Design Systems (CDNS): ResearchTeam lowered their rating from Hold to Reduce.

ConocoPhillips (COP): ResearchTeam lowered their rating from Accumulate to Hold.

Dean Foods (DF): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $24.00 to $19.00.

Mosaic (MOS): ResearchTeam lowered their rating from Hold to Reduce.

Nucor (NUE): Morgan Stanley lowered their rating from Overweight to Equal Weight and lowered their target price from $58.00 to $56.00.

Coverage Initiated:

Humana (HUM): FBR Capital initiated coverage with a Market Perform rating and target price of $92.00.

J.M. Sucker (SJM): Credit Suisse initiated coverage with a Neutral rating and target price of $115.00.

MGM Resorts (MGM): FBR Capital initiated coverage with an Outperform rating and target price of $25.00.

Las Vegas Sands (LVS): FBR Capital initiated coverage with an Outperform rating and target price of $80.00.

UnitedHealth (UNH): FBR Capital initiated coverage with an Outperform rating and target price of $77.00.

Wellpoint (WLP): FBR Capital initiated coverage with a Market Perform rating and target price of $93.00.

Wynn Resorts (WYNN): FBR Capital initiated coverage with a Market Perform rating and target price of $175.00.

Earning Reports:

Macy's (M): Reported EPS of $0.47 beating estimates by +$0.08.

MBIA (MBI): Reported EPS of $0.67 beating estimates by +$0.41.

Pinnacle Foods (PF): Reported EPS of $0.36 beating estimates by +$0.01.

Potbelly (PBPB): Reported EPS of $0.15 beating estimates by +$0.09.

Woodward (WWD): Reported EPS of $0.76 beating estimates by +$0.06.

Markets:
Futures at 6:20: Dow -0.2%. S&P -0.2%. Nasdaq -0.3%. Crude +0.3% to $93.33. Gold +0.35% to $1275.00. U.S. 10 Year +11/32 2.736%.

Europe: London -1%. Paris -0.5%. Frankfurt -0.3%. 

Asia: Japan -0.15% to 14567. Hong Kong -1.9% to 22463. China -1.8% to 2087. India -0.4% to 20194. 

Twitter to Price IPO Shares.

Twitter to Price IPO Shares. The microblogging Web site Twitter (TWTR) is expected to price its IPO today with shares to begin trading tomorrow on the NYSE. The company raised the price range of the IPO shares to $23-$25 a share. The company is expected to sell 70M shares, which would generate $1.61-1.75B for the company and have a market cap of $12.5-13.6B.

Upgrades:

Cardinal Health (CAH): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $73.00 on the company.

Louisiana-Pacific (LPX): TD Securities raised their rating from Reduce to Hold.

T-Mobile (TMUS): Canaccord raised their rating from Hold to Buy and raised their target price from $25.00 to $33.00.

Downgrades:

Advisory Board (ABCO): Raymond James lowered their rating from Outperform to Market Perform.

Buffalo Wild Wings (BWLD): Miller Tabak lowered their rating from Buy to Hold.

Tenet Healthcare (THC): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $50-$55 to $41-$47.

Unilever (UN/UL): Normura lowered their rating from Buy to Neutral.

Coverage Initiated:

Morningstar (MORN): Keefe Bruyette initiated coverage with a Market Perform rating and target price of $91.00.

Earning Reports:

Carlyle (CG): Reported EPS of $0.51 missing estimates by -$0.08. Pre-market: 29.12 -1.01 (-3.35%)

Humana (HUM): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 91.50 -2.45 (-2.61%)

Magna (MGA): Reported EPS of $1.39 beating estimates by +$0.04.

Polo Ralph Lauren (RL): Reported EPS of $2.23 beating estimates by +$0.03. Pre-market: 179.50 +8.31 (4.85%)

Sturm Ruger (RSG): Reported EPS of $1.44 missing estimates by -$0.02.

Tesla Motors (TSLA): Reported EPS of $0.12 beating estimates by +$0.02. Pre-market: 154.74 -22.07 (-12.48%)

Time Warner (TWX): Reported EPS of $1.01 beating estimates by +$0.12. Pre-market: 68.60 +0.37 (0.54%)

Zillow (Z): Reported EPS of -$0.05 beating estimates by +$0.02. Pre-market: 87.00 +4.69 (5.70%)

Markets: 
Futures at 6:20: Dow +0.5%. S&P +0.6%. Nasdaq +0.4%. Crude +0.8% to $94.11. Gold +0.7% to $1317.30. 

Europe: London +0.1%. Paris +0.9%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 14337. Hong Kong 0.0% at 23037. China -0.8% to 2140. India -0.4% to 20895. 

#RLPaler #WallStreet #TwitterIPO #WealthManagement #EarningReports #AnalystsRatings

Morning Coffee Pre-Market Wall Street News

European Commission Lowers EU GDP Forecast. The European Commission has lowered its 2014 GDP forecast for the eurozone forecast to 1.1% from 1.2%. Germany, Belgium, Estonia and Ireland’s economy should grow in 2014. While they warned that Spain, Greece, Italy and Portugal will experience much weaker growth. Unemployment for the eurozone is expected to remain high at 12.2%. Inflation should remain low at 1.5%. The European Commission also expects that the eurozone's economy will shrink -0.4% this year.

Downgrades:

Blackberry (BBRY): CIBC lowered their rating from Sector Perform to Underperform and lowered their target price from $12.00 to $5.00. Pre-market: 6.61 +0.12 (1.77%)

Humana (HUM): Monness Crespi lowered their rating from Buy to Neutral. Pre-market: 94.00 -0.13 (-0.14%)

Kellogg (K): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $68.00 to $65.00.

St Jude Medical (STJ): Bernstein lowered their rating from Outperform to Market Perform and placed a target price of $62.00 on the company. Pre-market: 57.01 -1.88 (-3.19%)

UnitedHealth (UNH): Monness Crespi lowered their rating from Buy to Neutral. Pre-market: 68.38 -0.57 (-0.83%)

Wellpoint (WLP): Monness Crespi lowered their rating from Buy to Neutral.

Coverage Initiated:

Twitter (TWTR): CRT Capital initiated coverage with a Buy rating and target price of $40.00.

Earning Reports:

AOL (AOL): Reported EPS of $0.55 beating estimates by +0.04. Pre-market: 40.38 +1.66 (4.29%)

Cognizant Tech (CTSH): Reported EPS of $1.13 beating estimates by +0.03. Pre-market: 90.30 +3.45 (3.97%)

CVS Caremark (CVS): Reported EPS of $1.09 beating estimates by +0.07. Pre-market: 63.15 +1.17 (1.89%)

Emerson (EMR): Reported EPS of $1.18 beating estimates by +0.07. Pre-market: 65.29 -2.08 (-3.09%)

Mosaic (MOS): Reported EPS of $0.51 missing estimates by -$0.04. Pre-market: 45.83 -0.90 (-1.93%)

Markets: 
Futures at 6:20: Dow -0.34%. S&P -0.28%. Nasdaq -0.35%. Crude -0.19% to $94.44. Gold +0.11% to $1316.00 U.S. 10 Year -6/32 2.631%. 

Europe: London -0.60%. Paris -1.13%. Frankfurt -0.61%. 

Asia, Japan +0.17% to 14225. Hong Kong -0.65% to 23039. China +0.35% to 2157. India -1.25% to 20975. 

#RLPaler #WallStreet #StockMarket #WealthManagement #EarningReports