Gun Sales Propel Smith & Wesson. Smith & Wesson's (SWHC) reported FQ2 earnings of $0.28 beating estimates by a wide margin.  The company also issued higher-than-expected FQ3 guidance. Revenue for the weapons manufacture rose 2% to $139.3M, while income from continuing operations increased to $17.1M. Sales of handguns at the company continue to climb, up a whopping +27% as people rush to purchase weapons for self protects and amid a fresh push for gun control. Pre-market: 12.76 +0.64 (5.28%)

Upgrades:

3M Co. (MMM): Nomura raised their rating from Neutral to Buy and placed a target price of $150.00 on the company. Pre-market: 128.15 +0.60 (0.47%)

Cardinal Health (CAH): Leerink raised their rating from Market Perform to Outperform and raised their target price from $64.00 to $75.00.

General Dynamics (GD): CRT Capital raised their rating from Sell to Fair Value and placed a target price of $89.00 on the company.

Downgrades:

Scripps Networks (SNI): Citigroup lowered their rating from Neutral to Sell. Pre-market: 81.02 +5.77 (7.67%)

Coverage Initiated:

Cisco Systems (CSCO): Mizuho initiated coverage with a Neutral rating and placed a target price of $23.00 on the company.

Cisco Systems (CSCO): Citigroup initiated coverage with a Sell rating and placed a target price of $18.00 on the company.

Ericsson (ERIC): Mizuho initiated coverage with a Buy rating and placed a target price of $15.00 on the company. Pre-market: 11.88 -0.06 (-0.50%)

Motorola Solutions (MSI): Mizuho initiated coverage with a Neutral rating and placed a target price of $63.00 on the company. Pre-market: 21.05 -0.16 (-0.75%)

Nokia (NOK): Mizuho initiated coverage with a Neutral rating and placed a target price of $8.00 on the company. Pre-market: 7.94 +0.02 (0.25%)

Twitter (TWTR): Macquarie initiated coverage with a Neutral rating. Pre-market: 52.90 +0.91 (1.75%)

Earning Reports:

Costco (COST): Reported EPS of $0.96 missing estimates by -$0.06. Pre-market: 118.50 -1.54 (-1.28%)

H&R Block (HRB): Reported EPS of -0.42 missing estimates by -$0.05. Pre-market: 28.55 -0.25 (-0.87%)

Joy Global (JOY): Reported EPS of $1.11 missing estimates by -$0.01. Pre-market: 53.30 -2.94 (-5.23%)

Smith & Wesson (SWHC): Reported EPS of 0.28 beating estimates by +$0.07. Pre-market: 12.76 +0.64 (5.28%)

Markets: 
Futures at 8:10: Dow +0.08%. S&P -0.28%. Nasdaq +0.01%. Crude -0.15% at $98.38. Gold -0.52% to $1254.60. U.S. 10 Year -3/32 to 2.819%.

Europe: London +0.37%. Paris +0.76%. Frankfurt +0.29%. 

Asia: Japan -0.62% to 15515. Hong Kong -1.71% to 23338. China -1.49% at 2204. India -0.39% at 21171. 

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

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. 

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

Morning Coffee Pre-Market Wall Street News

Netflix Shares Jump on EPS. Netflix's (NFLX) shares jumped after the company reported Q3 earnings that topped Wall Street estimates. Netflix reported EPS of $0.52, with net profit quadrupling to $32M. Revenue also came in at a strong $1.1 billion, up 22%.  The video service added 1.29M subscribers in the U.S. to give it 31.09M customers vs. the 30M that was expected. Pre-market: 381.48 +26.49 (7.46%)

Upgrades:

Kohl’s (KSS): Deutsche Bank raised their rating from Sell to Hold and raised their target price from $46.00 to $50.00.

Netflix (NFLX): Evercore raised their rating from Equal Weight to Overweight and placed a target price of $350.00 on the company. Pre-market: 381.48 +26.49 (7.46%)

Texas Instruments (TXN): FBR Capital raised their rating from Underperform to Market Perform and placed a target price of $38.00 on the company. Pre-market: 40.30 -0.69 (-1.68%)

Downgrades:

Advanced Micro Devices (AMD): Bernstein lowered their rating from Market Perform to Underperform and lowered their target price from $3.00 to $2.50. Pre-market: 3.31 -0.06 (-1.78%)

Gap (GAP): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $50.00 to $35.00.

Marriott International (MAR): MKM Partners lowered their rating from Buy to Neutral.

Nokia (NOK): Santander lowered their rating from Buy to Underweight.

Nokia (NOK): Nordea lowered their rating from Buy to Sell.

United States Steel (X): UBS lowered their rating from Buy to Neutral and lowered their target price from $25.00 to $22.00.

Coverage Initiated:

Expedia (EXPE): Credit Suisse initiated coverage with a Neutral rating and target price of $65.00.

Goodyear Tire (GT): CLSA initiated coverage with a Buy rating and target price of $29.00. Pre-market: 21.30 +0.18 (0.85%)

Halliburton (HAL): Iberia initiated coverage with an Outperform rating and target price of $70.00. Pre-market: 50.88 +0.22 (0.43%)

Priceline.com (PCLN): Credit Suisse initiated coverage with an Outperform rating and target price of $1250.00.

Earning Reports:

CIT Group (CIT): Reported EPS of $0.99 beating estimates by +$0.04. Pre-market: 52.00 +1.03 (2.02%)

Coach (COH): Reported EPS of $0.77 beating estimates by +$0.01. Pre-market: 50.25 -3.93 (-7.25%)

DuPont (DD): Reported EPS of $0.45 beating estimates by +$0.04. Pre-market: 59.40 -0.06 (-0.10%)

Forward Air (FWRD): Reported EPS of $0.46 in-line with estimates.

Harley-Davidson (HOG): Reported EPS of $0.73 in-line with estimates. Pre-market: 66.25 +0.68 (1.04%)

Kimberly-Clark (KMB): Reported EPS of $1.44 beating estimates by +$0.04. Pre-market: 101.50 +2.67 (2.70%)

Lockheed Martin (LMT): Reported EPS of $2.57 beating estimates by +$0.30. Pre-market: 128.85 +3.55 (2.83%)

Netflix (NFLX): Reported EPS of $0.52 beating estimates by +$0.03. Pre-market: 381.48 +26.49 (7.46%)

Ryder Systems (R): Reported EPS of $1.46 beating estimates by +$0.02.

State Street (STT): Reported EPS of $1.19 in-line with estimates.

Texas Instruments (TXN): Reported EPS of $0.56 beating estimates by +$0.03. Pre-market: 40.30 -0.69 (-1.68%)

VMware (VMW): Reported EPS of $0.84 beating estimates by +$0.02. Pre-market: 90.10 +7.45 (9.01%)

Markets: 
Futures at 7:14: Dow +0.03%. S&P +0.34%. Nasdaq +0.34%. Crude -0.40% to $98.82. Gold +1.27% to $1330.20. U.S. 10 Year +18/32 2.543%.

Europe: London +0.50%. Paris +0.38% Frankfurt +0.71%. 

Asia: Japan +0.13% to 14713. Hong Kong -0.52% to 23316. China -0.83% to 2211. India -0.14% to 20865. 

#RLPaler

Morning Coffee Pre-Market Wall Street News

Eurozone PMI Continues to Rise. The Eurozone continues to recover as the composite PMI increased to a 27-month high of 52.1 from 51.5. Economists had been looking for a reading of only 51.9. Services exceeded expectations, but manufacturing unexpectedly fell. Economists say that the current reading is consistent with GDP growth of 0.2%.

Upgrades:

Copart (CPRT): RW Baird raised their rating from Neutral to Outperform and raised their target price from $38.00 to $42.00. Pre-market: 34.50 +0.75 (2.22%)

Darden Restaurants (DRI): Buckingham raised their rating from Underperform to Neutral and placed a target price of $44.00 on the company.

Maxim Integrated Products (MXIM): Goldman Sachs raised their rating from Neutral to Conviction Buy and raised their target price from $30.00 to $34.00. Pre-market: 30.48 +0.80 (2.70%)

Nokia (NOK): HSBC raised their rating from Underweight to Neutral. Pre-market: 6.56 -0.02 (-0.30%)

Walgreen (WAG): Morgan Stanley raised their rating from Equal Weight to Overweight and placed a target price of $70.00 on the company. Pre-market: 56.00 +0.48 (0.86%)

Zimmer Holdings (ZMH): RBC Capital raised their rating from Sector Perform to Outperform.

Downgrades:

BlackBerry (BBRY): RBC Capital lowered their rating from Sector Perform to Underperform. Pre-market: 8.43 -0.30 (-3.38%)

BlackBerry (BBRY): RW Baird lowered their rating from Neutral to Underperform and lowered their target price from $9.00 to $8.00. Pre-market: 8.43 -0.30 (-3.38%)

Darden Restaurants (DRI): Stephens lowered their rating from Overweight to Equal Weight and lowered their target price from $55.00 to $52.00.

DreamWorks Animation (DWA): B. Riley lowered their rating from Buy to Neutral.

FedEx (FDX): Stifel lowered their rating from Buy to Hold. Pre-market: 115.50 -1.33 (-1.14%)

ING Groep (ING): BNP Paribas lowered their rating from Outperform to Neutral. Pre-market: 11.40 -0.14 (-1.21%)

Oceaneering Intl (OII): Global Hunter lowered their rating from Buy to Neutral and lowered their target price from $92.00 to $81.00.

Coverage Initiated:

Nokia (NOK): Deutsche Bank initiated coverage with a Buy rating. Pre-market: 6.56 -0.02 (-0.30%)

Markets: 
Futures at 6:20: Dow +0.1%. S&P +0.2%. Nasdaq +0.3%. Crude +0.2% to $104.95. Gold -0.8% to $1322. U.S. 10 Year 0/32 2.736%

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

Asia: Japan closed. Hong Kong -0.6% to 23372. China +1.3% to 2221. India -1.8% to 19901. 

Morning Coffee Pre-Market Wall Street News

Obama Delays Military Strike. In a televised speech last night President Obama has asked Congress to delay the vote on approving military strikes against Syria. Earlier in the week Sec. John Kerry floated an idea to have Syria give up their chemical weapon and Russia’s Vladimir Putin took the idea to Syria where their leaders agreed to the idea.  Many analysts are saying that all the delays have made the U.S. look weak and has allowed Syria to hide their chemical stock piles.  They are also questioning whether the agreement is just a stalling tactic similar to those being used by Iran to hide their nuclear weapons program.  

Upgrades:

ConAgra Food (CAG): Goldman Sachs raised their rating from Buy to Neutral and placed a target price of $42.00 on the company.

Ingersoll-Rand (IR): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $53.00 to $72.00. Pre-market: 64.90 +0.09 (0.14%)

Kennametal (KMT): Global Hunter raised their rating from Buy to Neutral and raised their target price from $37.00 to $55.00.

Morgan Stanley (MS): UBS raised their rating from Buy to Neutral and raised their target price from $28.00 to $33.00.

Nokia (NOK): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $5.00 to $7.00.

Revlon Inc. (REV): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $25.00 to $31.00.

RF Micro Devices (RFMD): Raymond James raised their rating from Market Perform to Strong Buy.

Skyworks Solutions (SWKS): Raymond James raised their rating from Outperform to Strong Buy.

Snap-On Tools (SNA): Janney Capital raised their rating from Neutral to Buy.

Downgrades:

Apple (AAPL): UBS lowered their rating from Buy to Neutral and lowered their target price from $560.00 to $520.00. Pre-market: 467.33 -27.31 (-5.52%)

Apple (AAPL): Credit Suisse lowered their rating from Outperform to Neutral and maintained their target price of $525.00. Pre-market: 467.33 -27.31 (-5.52%)

BlackRock (BLK): UBS lowered their rating from Buy to Neutral and lowered their target price from $310.00 to $280.00.

Lions Gate Entertainment (LGF): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $36.00 to $32.00.

Proctor Gamble (PG): SunTrust lowered their rating from Buy to Neutral and lowered their target price from $88.00 to $80.00.

Rockwell Automation (ROK): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $106.00 to $91.00. Pre-market: 103.55 -0.47 (-0.45%)

Take-Two Interactive (TTWO): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 17.85 -0.29 (-1.60%)

Coverage Initiated:

W.P. Carey (WPC): BMO Capital initiated coverage with an Outperform rating and target price of $74.00.

Markets: 
Futures at 8:06: Dow +0.01%. S&P -0.07%. Nasdaq -0.38%. Crude -0.03% to $107.37. Gold -0.19% to $1361.40. U.S. 10 Year +7/32 2.946%

Europe: London -0.09%. Paris -0.10%. Frankfurt +0.55%. 

Asia: Japan +0.01% at 14425. Hong Kong -0.17% to 22937. China +0.15% to 2241. India +0.01% to 19997.