Berkshire Hathaway Buys Exxon Mobil

Berkshire Hathaway Buys Exxon Mobil. Berkshire Hathaway (BRK.A / BRK.B) has bought 40.1 million shares of Exxon Mobil (XOM). The purchase makes Warren Buffett’s company the 6^th largest shareholder of Exxon. During the third quarter he also added to his position in the Bank of New York Mellon (BK), DaVita HealthCare Partners (DVA), Suncor Energy (SU), U.S. Bancorp (USB) and VeriSign (VRSN). During the quarter he also lowered his holdings in ConocoPhillips (COP), DirecTV (DTV), GlaxoSmithKline (GSK) and Sanofi (SNY). Pre-market: 115.60 -0.09 (-0.08%)

Upgrades:

Allscripts Healthcare Solutions (MDRX): Leerink raised their rating from Market Perform to Outperform and raised their target price from $16.00 to $18.00.

Ball Corp (BLL): BofA Merrill Lynch raised their rating from Neutral to Buy and raised their target price from $49.00 to $56.00.

Downgrades:

BlackBerry (BBRY): Macquarie lowered their rating from Neutral to Underperform and lowered their target price from $7.00 to $5.50.

Kellogg Co. (K): Barclays lowered their rating from Equal Weight to Underweight.

Kolh’s (KSS): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $66.00 to $55.00.

W.W. Grainger (GWW): Raymond James lowered their rating from Outperform to Market Perform.

Coverage Initiated:

Guess? (GES): Mizuho initiated coverage with a Neutral rating and target price of $30.00.

Twitter (TWTR): UBS initiated coverage with a Neutral rating and target price of $45.00.

Yelp (YELP): Janney Capital initiated coverage with a Neutral rating and target price of $70.00.

Earning Reports:

Agilent (A): Reported EPS of $0.81 beating estimates by +$0.05. Pre-market: 54.00 +3.46 (6.85%)

Applied Materials (AMAT): Reported EPS of $0.19 beating estimates by +$0.01. Pre-market: 17.65 +0.09 (0.51%)

Nordstrom (JWN): Reported EPS of $0.69 beating estimates by +$0.03. Pre-market: 62.70 -0.73 (-1.15%)

Maximus (MMS): Reported EPS of $0.51 beating estimates by +$0.01.

Markets: 
Futures at 8:01: Dow +0.20%. S&P +0.20%. Nasdaq +0.13%. Crude +0.37% to $94.10. Gold -0.01% to $1286.20. U.S. 10 Year -3/32 2.701%.

Europe: London +0.32%. Paris +0.25%. Frankfurt +0.25%. 

Asia: Japan +1.95% to 15166. Hong Kong +1.69% to 23032. China +1.68% to 2136. India closed. 

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Overseas Growth Slows. Overseas economic growth has unexpectedly slowed. Economic growth slowed in Japan during Q3. Capex growth rose just +0.2% for Q3, far below consensus estimates. Economic growth in the eurozone came in at just +0.1% for Q3 also missing economists estimates.  Germany’s economy expanded by 0.3% in Q3, which was in-line with economists’ estimates but must slower than the +0.7% growth posted in Q2. France’s economy turned negative as their economy contracted -0.1% in Q3. Finance Minister Pierre Moscovici said France should still report a modest expansion for the full year.

Upgrades:

Office Depot (ODP): BofA Merrill Lynch raised their rating from Neutral to Buy and placed a target price of $6.50 on the company. Pre-market: 5.51 +0.13 (2.42%)

Downgrades:

Cisco Systems (CSCO): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $26.00 top $23.00. Pre-market: 5.51 +0.13 (2.42%)

Cisco Systems (CSCO): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $30.00 top $25.00. Pre-market: 5.51 +0.13 (2.42%)

Cisco Systems (CSCO): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $28.00 top $25.00. Pre-market: 5.51 +0.13 (2.42%)

PNC Financial (PNC): Oppenheimer lowered their rating from Outperform to Perform.

Coverage Initiated:

BP (BP): Credit Suisse initiated coverage with a Neutral rating.

Royal Dutch Shell (RDS.A): Credit Suisse initiated coverage with an Outperform rating.

Total S.A. (TOT): Credit Suisse initiated coverage with an Outperform rating.

Earning Reports:

Cisco Systems (CSCO): Reported EPS of $0.53 beating estimates by +$0.02. Pre-market: 20.93 -3.07 (-12.77%)

Dillard's (DDS): Reported EPS of $1.13 beating estimates by +$0.07. Pre-market: 90.87 +1.32 (1.47%)

Kolh’s (KSS): Reported EPS of $0.81 missing estimates by -$0.05. Pre-market: 54.10 -4.16 (-7.14%)

Sally Beauty (SBH): Reported EPS of $0.38 missing estimates by -$0.01. Pre-market: 27.50 -0.14 (-0.51%)

Tyco (TYC): Reported EPS of $0.52 in-line with estimates. Pre-market: 37.00 +0.27 (0.74%)

Viacom (VIAB): Reported EPS of $1.55 beating estimates by +$0.11. Pre-market: 82.00 -1.13 (-1.36%)

Wal-Mart (WMT): Reported EPS of $1.14 beating estimates by +$0.01. Pre-market: 77.60 -1.30 (-1.65%)

Markets: 

Futures at 8:12: Dow +0.07%. S&P +0.17%. Nasdaq -0.12%. Crude -0.61% to $93.30. Gold +1.34% to $1285.30. U.S. 10 Year +1/32 2.720%.

Europe: London +0.32%. Paris +0.62%. Frankfurt +0.65%. 

Asia: Japan +2.12% to 14876. Hong Kong +0.82% to 22649. China +0.60% to 2100. India -0.43% to 20399. 

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