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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Foster Wheeler to Be Acquired. Foster Wheeler (FWLT) will be acquired by U.K. engineering company Amec (AMCBF) for £1.9B ($3.13B) in cash and stock. Foster shareholders will receive 23% in Amec which will seek a U.S. listing. The company said in a statement that the transaction will position Amec "to serve across the whole oil and gas value chain," and that, "adding mid and downstream capabilities to Amec's existing upstream focus and bringing new customer relationships."

Upgrades:

Broadcom (BRCM): B. Riley raised their rating from Neutral to Buy and raised their target price from $29.00 to $37.00. Pre-market: 29.05 +0.14 (0.48%)

Carnival (CCL): SunTrust raised their rating from Reduce to Neutral.

Jacobs Engineering (JEC): UBS raised their rating from Neutral to Buy and raised their target price from $60.00 to $75.00.

Macys’ (M): Macquarie raised their rating from Neutral to Outperform.

Visa (V): Citigroup raised their rating from Neutral to Buy and raised their target price from $212.00 to $265.00.

Downgrades:

Berkshire Hathaway (BRK.A/BRK.B): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 114.80 -0.17 (-0.15%)

Canadian Imperial Bank (CM): ResearchTeam lowered their rating from Hold to Reduce.

Charles Schwab (SCHW): CLSA lowered their rating from Outperform to Underperform.

Mattel (MAT): ResearchTeam lowered their rating from Accumulate to Hold.

Oceaneering Intl (OII): ISI Group lowered their rating from Strong Buy to Neutral.

Ryder Systems (R): ResearchTeam lowered their rating from Accumulate to Hold.

SAP AG (SAP): Pacific Crest lowered their rating from Outperform to Market Perform. Pre-market: 83.07 -0.47 (-0.56%)

Symantec (SYMC): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $21.00 on the company. Pre-market: 22.95 -0.52 (-2.22%)

Transocean (RIG): ISI Group lowered their rating from Neutral to Cautious. Pre-market: 48.48 -0.05 (-0.10%)

Coverage Initiated:

Ford Motor Co (F): ISI Group initiated coverage with a Strong Buy rating and target price of $22.00. Pre-market: 16.34 +0.27 (1.68%)

General Motors (GM): ISI Group initiated coverage with a Neutral rating and target price of $45.00. Pre-market: 40.30 +0.27 (0.67%)

Hewlett-Packard (HPQ): Atlantic Equities initiated coverage with an Overweight rating and target price of $36.00.

IBM (IBM): Atlantic Equities initiated coverage with a Neutral rating and target price of $195.00.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.3%. Nasdaq -0.3%. Crude -0.7%to $92.11. Gold -0.1% to $1245.60. 

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

Asia: Japan +0.2% to 15912. Hong Kong +0.2% to 22889. China -0.2% to 2010. India +1.8% to 21134. 

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JCPenny Received Inquiry From Regulators.

JCPenney Received Inquiry From Regulators. Troubled retailer J.C. Penney (JCP) has received a letter of inquiry from the SEC according to reports. The request is for information about the company’s "liquidity, cash position, and debt and equity financing." Regulators are also requesting information about the company’s recent stock offering. Pre-market: 8.65 -0.20 (-2.26%)

Upgrades:

Boston Scientific (BSX): Cowen raised their rating from Market Perform to Outperform. Pre-market: 11.48 +0.14 (1.23%)

Dollar General (DG): Goldman Sachs raised their rating from Neutral to Conviction Buy and raised their target price from $64.00 to $71.00.

Infosys (INFY): Cowen raised their rating from Market Perform to Outperform and raised their target price from $55.00 to $65.00. Pre-market: 54.95 +1.08 (2.00%)

Intel (INTC): Drexel Hamilton raised their rating from Hold to Buy and raised their target price from $26.00 to $30.00. Pre-market: 24.93 +0.67 (2.76%)

Intel (INTC): Citigroup raised their rating from Neutral to Buy. Pre-market: 24.93 +0.67 (2.76%)

Downgrades:

Accenture (ACN): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $92.00 to $72.00. Pre-market: 75.66 -0.13 (-0.17%)

Family Dollar (FDO): Sterne Agee lowered their rating from Neutral to Underperform and placed a target price of $56.00 on the company. Pre-market: 67.30 -0.30 (-0.44%)

IBM (IBM): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $234.00 to $165.00. Pre-market: 176.79 +0.71 (0.40%)

Tyco Intl (TYC): Argus lowered their rating from Buy to Hold. Pre-market: 37.40 +0.15 (0.40%)

Coverage Initiated:

Chevron (CVX): HSBC initiated coverage with an Overweight rating and target price of $138.00. Pre-market: 122.15 +1.05 (0.87%)

Ensco (ESV): FBR Capital initiated coverage with a Market Perform rating and target price of $62.00.

Exxon Mobil (XOM): HSBC initiated coverage with an Underweight rating and target price of $92.00. 

Pre-market: 94.95 +0.82 (0.87%)

National Oilwell (NOV): FBR Capital initiated coverage with an Outperform rating and target price of $100.00.

Nokia (NOK): JPMorgan initiated coverage with an Overweight rating and target price of $10.80. Pre-market: 7.84 +0.11 (1.42%)

Earning Reports:

American Eagle (AEO): Reported EPS of $0.19 beating estimates by +$0.01. Pre-market: 15.75 -0.65 (-3.96%)

Big Lots (BIG): Reported EPS of -$0.16 missing estimates by -$0.08. Pre-market: 33.80 -3.33 (-8.97%)

Diamond Foods (DMND): Reported EPS of $0.18 beating estimates by +$0.01. Pre-market: 23.00 -1.14 (-4.72%)

Five Below (FIVE): Reported EPS of $0.05 beating estimates by +$0.01. Pre-market: 45.25 -2.50 (-5.24%)

Pacific Sunwear (PSUN): Reported EPS of -$0.05 in-line with estimates. Pre-market: 3.20 +0.44 (15.94%)

Ulta Salon (ULTA): Reported EPS of $0.72 missing estimates by -$0.02. Pre-market: 96.26 -21.74 (-18.42%)

Zumiez (ZUMZ): Reported EPS of -$0.46 in-line with estimates. Pre-market: 25.20 -1.04 (-3.96%)

Markets: 
Futures at 6:20: Dow +0.3%. S&P +0.4%. Nasdaq +0.3%. Crude to $97.24. Gold -0.2% to $1229.60. 

Europe: London +0.4%. Paris +0.1%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 15300. Hong Kong +0.1% to 23743. China -0.4% to 2237. India +0.15% to 20989. 

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Morning Cofee Pre-Market Wall Street News

Google Shares Jump On Earnings. Google's (GOOG) shares jumped 9.19% in the premarket after the company reported Q3 earnings that beat Wall Street estimates. The company reported strong paid-click growth that offset ad-price weakness, with nice gains in mobile. Net profit at the company rose 36% to $2.97B. Adjusted EPS was $2.18B or $10.74 per share. Revenue climbed 12% to $14.89B. Pre-market: 970.50 +81.71 (9.19%)

Upgrades:

Amazon.com (AMZN): UBS raised their rating from Neutral to Buy and raised their target price from $305.00 to $385.00.

21^st Century Fox (FOXA): BTIG raised their rating from Neutral to Buy.

T-Mobile (TMUS): Goldman Sachs raised their rating from Buy to Conviction Buy and placed a target price of $32.00 on the company. Pre-market: 28.10 +0.66 (2.41%)

Downgrades:

Advanced Micro (AMD): Bank of America Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $6.00 to $4.50. Pre-market: 3.70 -0.39 (-9.54%)

IBM (IBM): Argus lowered their rating from Buy to Hold. Pre-market: 175.55 +0.72 (0.41%)

Las Vegas Sands (LVS):Craig-Hallum lowered their rating from Buy to Hold and lowered their target price from $71.00 to $62.00. Pre-market: 71.89 +0.92 (1.30%)

McDermott International (MDR): Macquarie lowered their rating from Outperform to Underperform and lowered their target price from $9.00 to $7.50.

Panera Bread (PNRA): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $190.00 to $165.00. Pre-market: 158.65 -1.90 (-1.18%)

Sanofi (SNY): Leerink lowered their rating from Outperform to Market Perform. Pre-market: 49.99 -0.14 (-0.28%)

UnitedHealth (UNH): Cantor Fitzgerald lowered their rating from Buy to Hold and lowered their target price from $75.00 to $70.00.

Coverage Initiated:

Finish Line (FINL): UBS initiated coverage with a Neutral rating and target price of $25.00.

Earning Reports:

Advanced Micro (AMD): Reported EPS of $0.04 beating estimates by +$0.02. Pre-market: 3.70 -0.39 (-9.54%)

Baker Hughes (BHI): Reported EPS of $0.81 beating estimates by +$0.03. Pre-market: 54.65 +2.87 (5.54%)

Capital One (COF): Reported EPS of $0.86 beating estimates by +$0.05. Pre-market: 73.00 +0.85 (1.18%)

Chipotle Mexican Grill (CMG): Reported EPS of $2.66 missing estimates by -$0.12. Pre-market: 473.55 +34.48 (7.85%)

General Electric (GE): Reported EPS of $0.36 beating estimates by +$0.01. Pre-market: 25.41 +0.73 (2.96%)

Google (GOOG): Reported EPS of $10.74 beating estimates by +0.37. Pre-market: 970.50 +81.71 (9.19%)

Honeywell (HON): Reported EPS of $1.25 beating estimates by +$0.01. Pre-market: 85.65 -1.09 (-1.26%)

Las Vegas Sands (LVS): Reported EPS of $0.82 beating estimates by +0.06. Pre-market: 71.89 +0.92 (1.30%)

Morgan Stanley (MS): Reported EPS of $0.50 beating estimates by +0.09. Pre-market: 29.88 +0.95 (3.28%)

Schlumberger (SLB): Reported EPS of $1.29 beating estimates by +0.05. Pre-market: 93.30 +1.87 (2.05%)

Stryker (SYK): Reported EPS of $0.98 missing estimates by -$0.02. Pre-market: 72.60 +0.05 (0.07%)

Textron (TXT): Reported EPS of $0.35 missing estimates by -$0.08. Pre-market: 26.20 -1.32 (-4.80%)

WD-40 (WDFC): Reported EPS of $0.53 beating estimates by +0.05.

Markets: 
Futures at 7:34: Dow +0.13%. S&P +0.30%. Nasdaq +0.58%. Crude +0.86% to $101.50. Gold -0.47% to $1316.70. U.S. 10 Year +6/32 2.571%.

Europe: London +0.48%. Paris +0.72%. Frankfurt +0.31%. 

Asia: Japan -0.17% to 14562. Hong Kong +1.06% to 23340. China +0.24% to 2194. India +2.29% to 20883. 

#RLPaler