Economy Adds 175,000 Jobs in February

Economy Adds 175,000 Jobs in February. After two disappointing job reports in December and January the Labor Department reported that 175,000 jobs were added in February. Economists had expected only 157,000 new jobs would have been created for the month. The unemployment rate did rise to 6.7% from 6.6%. While the December report was revised upward from 75,000 to 82,000 and January was revised to 129,000 from 113,000.

Upgrades:

Charter Communications (CHTR): Northland Securities raised their rating from Market Perform to Outperform.

Clean Harbors (CLH): Raymond James raised their rating from Market Perform to Buy and placed a target price of $60.00 on the company.

Fresh Market (TFM): UBS raised their rating from Neutral to Buy and raised their target price from $45.00 to $48.00. Pre-market: 34.90 +0.90 (2.65%)

Safeway (SWY): UBS raised their rating from Sell to Neutral. Pre-market: 38.08 -1.39 (-3.52%)

Sirius XM (SIRI): Macquarie raised their rating from Neutral to Outperform.

Skullcandy (SKUL): DA Davidson raised their rating from Underperform to Neutral. Pre-market: 9.27 +1.84 (24.76%)

Downgrades:

Safeway (SWY): BB&T lowered their rating from Buy to Hold. Pre-market: 38.08 -1.39 (-3.52%)

Staples (SPLS): Argus lowered their rating from Buy to Hold. Pre-market: 28.66 +0.27 (0.95%)

Coverage Initiated:

MGM Resorts (MGM): Ascendiant initiated coverage with a Buy rating and target price of $33.00. Pre-market: 28.66 +0.27 (0.95%)

Magna International (MGA): TD Securities initiated coverage with a Buy rating.

Salesforce.com (CRM): B. Riley initiated coverage with a Neutral rating and target price of $65.00. Pre-market: 63.14 0.00 (0.00%)

Earning Reports:

Big Lots (BIG): Reported EPS of $0.98 missing estimates by -$0.22. Pre-market: 34.02 +4.77 (16.31%)

Foot Locker (FL): Reported EPS of $0.82 beating estimates by +$0.06. Pre-market: 45.10 +2.37 (5.55%)

Skullcandy (SKUL): Reported EPS of $0.13 beating estimates by +$0.04. Pre-market: 9.27 +1.84 (24.76%)

Markets: 
Futures at 8:33: Dow +0.44%. S&P +0.40%. Nasdaq +0.30%. Crude +0.25% to $101.81. Gold -0.08% to $1350.70. U.S. 10 Year -17/32 to 2.799%.

Europe: London +0.05%. Paris +0.22%. Frankfurt -0.29%. 

Asia: Japan +0.92% to 15274. Hong Kong -0.19% to 22660. China -0.08% to 2058. India +1.89% to 21920. 

#TopWealthManager #RLPaler #FinancialPlanning #WallStreet #AnalystsRatings #EarningReports #LaborDepartment #JobNumbers #Unemployment

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 

Morning Coffee Pre-Market Wall Street News

World Markets Rise On Debt Ceiling and Funding Hopes. World stock markets were mostly higher on hopes that Washington will come to an agreement to lift the debt ceiling. Although reports say any deal would be a short term deal. Additionally, there are reports that the debt ceiling deal could also include funding that would end the current government shutdown.

Upgrades:

Chipotle Mexican Grill (CMG): Janney Capital raised their rating from Neutral to Buy and placed a target price of $525.00 on the company. Pre-market: 440.00 +4.13 (0.95%)

JB Hunt (JBHT): BofA Merrill Lynch raised their rating from Neutral to Buy and placed a target price of $81.00 on the company. Pre-market: 72.14 0.00 (0.00%)

Johnson & Johnson (JNJ): Goldman Sachs raised their rating from Sell to Neutral and raised their target price from $87.00 to $95.00.

KB Homes (KBH): Susquehanna raised their rating from Neutral to Positive and raised their target price from $20.00 to $22.00. Pre-market: 17.09 +0.46 (2.77%)

Lennar (LEN): Susquehanna raised their rating from Neutral to Positive and raised their target price from $34.00 to $41.00. Pre-market: 34.05 +0.25 (0.74%)

Safeway (SWY): JPMorgan lowered their rating from Overweight to Neutral.

Downgrades:

Corning (GLW): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $19.00 to $14.00.

Deutsche Bank (DB): Macquarie lowered their rating from Neutral to Underperform. Pre-market: 48.10 +0.25 (0.52%)

Eli Lilly (LLY): Jefferies lowered their rating from Hold to Underperform and lowered their target price from $49.00 to $40.00.

Intel (INTC): Macquarie lowered their rating from Outperform to Neutral and placed a target price of $22.00 on the company.

Merck (MRK): Jefferies lowered their rating from Buy to Hold and lowered their target price from $53.00 to $50.00.

NVIDIA (NVDA): Macquarie lowered their rating from Neutral to Underperform. Pre-market: 15.15 -0.24 (-1.53%)

Synaptics (SYNA): JPMorgan lowered their rating from Overweight to Neutral.

Coverage Initiated:

Blackstone Group (BX): Evercore initiated coverage with an Equal Weight rating and target price of $28.00.

Carlyle Group (CG): Evercore initiated coverage with an Overweight rating and target price of $36.00.

Dr. Pepper Snapple (DPS): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $51.00-$53.00 to $44.00-46.00.

KKR & Co. (KKR): Evercore initiated coverage with an Equal Weight rating and target price of $23.00.

Earning Reports:

Infosys (INFY): Reported EPS of $45.96 missing estimates by -$0.24. Pre-market: 53.20 +2.92 (5.81%)

JPMorgan Chase (JPM): Reported EPS of $1.42 beating estimates by +$0.23. Pre-market: 53.00 +0.48 (0.91%)

Micron Technology (MU): Reported EPS of $0.20 missing estimates by -$0.10. Pre-market: 18.05 -0.38 (-2.06%)

Safeway (SWY): Reported EPS of $0.10 missing estimates by -$0.6. Pre-market: 33.69 +2.12 (6.72%)

Wells Fargo (WFC): Reported EPS of $0.99 beating estimates by +$0.03. Pre-market: 40.78 -0.66 (-1.59%)

Markets: 
Futures at 6:20: Dow +0.07%. S&P -0.05%. Nasdaq +0.06%. Crude -1.2% to $101.95. Gold -2.19% to $1277.10. U.S. 10 Year +7/32 2.657%

Europe: London +0.65%. Paris -0.12%. Frankfurt +0.22%. 

Asia: Japan +1.48% to 14405. Hong Kong +1.16% to 23218. China +1.70% to 2228. India +1.26% to 20529.