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

Labor Department Reports Unemployment Drops

Labor Department Reports Unemployment Drops. The Labor Department announced that U.S. unemployment benefits dropped 26,000 last week to a seasonally adjusted 323,000, the lowest level in three months. The less volatile four-week average came in at 336,500. 3.4 million Americans remain unemployed as of Feb. 15 down from 3.49 million the previous week.

On Friday, the Labor Department will release its February jobs report in which economist estimate that 145,000 jobs will have been added. That would follow two bad reports in which December saw only 75,000 new jobs being created and January’s 113,00 jobs.

Upgrades:

Anadarko (APC): Argus raised their rating from Hold to Buy and placed a target price of $95.00 on the company. Pre-market: 85.82 +0.41 (0.48%)

Biogen Idec (BIIB): BMO Capital raised their rating from Market Perform to Outperform raised their target price from $286.00 to $422.00. Pre-market: 346.50 +7.50 (2.21%)

Consolidated Edison (ED): Argus raised their rating from Hold to Buy and placed a target price of $60.00 on the company. Pre-market: 55.68 +0.40 (0.72%)

Teva Pharmaceutical (TEVA): Leerink raised their rating from Market Perform to Outperform and raised their target price from $48.00 to $65.00. Pre-market: 50.80 +1.00 (2.01%)

Tiffany & Co. (TIF): Citigroup raised their rating from Neutral to Buy and raised their target price from $100.00 to $110.00. Pre-market: 94.55 +1.49 (1.60%)

Yum! Brands (YUM): RW Baird raised their rating from Neutral to Outperform raised their target price from $79.00 to $87.00. Pre-market: 75.99 +1.18 (1.58%)

Downgrades:

adidas AG (ADDYY): Citigroup lowered their rating from Buy to Neutral.

Bed Bath & Beyond (BBBY): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $86.00 to $66.00.

Exelon (EXC): Tudor Pickering lowered their rating from Accumulate to Hold and placed a target price of $27.00 on the company. Pre-market: 30.24 -0.04 (-0.13%)

Lowe’s (LOW): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $60.00 to $50.00.

Coverage Initiated:

Microsoft (MSFT): B. Riley initiated coverage with a Neutral rating and target price of $39.00. Pre-market: 38.23 +0.12 (0.31%)

Oracle (ORCL): B. Riley initiated coverage with a Buy rating and target price of $48.00. Pre-market: 39.56 +0.06 (0.15%)

Earning Reports:

Ciena (CIEN): Reported EPS of $0.13 beating estimates by +$0.07. Pre-market: 25.50 +0.14 (0.55%)

Costco (COST): Reported EPS of $1.05 missing estimates by -$0.12. Pre-market: 113.40 -3.07 (-2.64%)

Joy Global (JOY): Reported EPS of $0.49 missing estimates by -$0.15. Pre-market: 56.69 +0.90 (1.61%)

Staples (SPLS): Reported EPS of $0.33 missing estimates by -$0.06. Pre-market: 11.71 -1.69 (-12.61%)

Markets: 
Futures at 6:20: Dow +0.20%. S&P +0.23%. Nasdaq +0.15%. Crude -0.68% to $100.77. Gold -0.22% to $1337.30. U.S. 10 Year -7/32 to 2.732%

Europe: London +0.32%. Paris +0.80%. Frankfurt +0.31%. 

Asia: Japan +1.59% to 15135. Hong Kong +0.55% to 22703. China +0.32% to 2060. India +1.11% to 21514. 

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

U.S. Market Set to Open Flat After ADP Report and Ukraine Developments

U.S. Market Set to Open Flat After ADP Report and Ukraine Developments. ADP reported that private employers added 139,000 jobs in February, missing economists' expectations of 160,000 jobs. Additionally, January's number was revised downward by 48,000 to only 127,000 jobs. Ukraine and Russian remain at a standoff while Secretary Kerry visited the region yesterday, Russia’s President Putin said that he has no control over the Russian troops in the Ukraine Crimea region calling the troops local security forces. According to Ukrainian officials Russia has moved over 16,000 troops into the Crimea region.  Additionally, Russia test fired a ICBM missile capable of carrying multiple nuclear warheads yesterday breaking a treating with the U.S.

Upgrades:

Berkshire Hathaway (BRK.A/BRK.B): S&P raised their rating from 3 Stars to 5 Stars. Pre-market: 118.67 +0.10 (0.08%)

Ericsson (ERIC): RBC Capital raised their rating from Sector Perform to Outperform and raised their rating from $13.00 to $16.00. Pre-market: 12.91 +0.20 (1.57%)

Pandora Media (P): MKM Partners raised their rating from Sell to Neutral and placed a target price of $39.00 on the company. Pre-market: 39.45 +0.28 (0.71%)

Smith & Wesson (SWHC): Cowen raised their rating from Sector Perform to Outperform. Pre-market: 13.00 +1.20 (10.17%)

Towers Watson (TW): Goldman Sachs raised their rating from Buy to Conviction Buy and placed a target price of $134.00 on the company.

Downgrades:

Staples (SPLS): B. Riley lowered their rating from Buy to Neutral and lowered their target price from $18.00 to $15.00. Pre-market: 13.35 -0.12 (-0.89%)

Walt Disney (DIS): S&P lowered their rating from 5 Stars to 4 Stars. Pre-market: 82.08 +0.37 (0.45%)

Coverage Initiated:

Santander Consumer USA (SC): Stephens initiated coverage with an Overweight rating and target price of $30.00.

Earning Reports:

Brown Forman (BF.B): Reported EPS of $0.82 beating estimates by +$0.07. Pre-market: 85.12 +0.82 (0.97%)

Navistar (NAV): Reported EPS of -3.07 missing estimates by -$1.27. Pre-market: 36.00 -1.79 (-4.74%)

PetSmart (PETM): Reported EPS of $1.28 beating estimates by +$0.07. Pre-market: 68.60 +0.94 (1.39%)

Smith & Wesson (SWHC): Reported EPS of $0.35 beating estimates by +$0.06. Pre-market: 13.00 +1.20 (10.17%)

Markets: 
Futures at 7:58: Dow +0.10%. S&P +0.15%. Nasdaq +0.17%. Crude -0.31% to $103.01. Gold -0.16% to $1336.00. U.S. 10 Year -3/32 to 2.709%.

Europe: London -0.49%. Paris -0.09%. Frankfurt -0.15%. 

Asia: Japan +1.20% to 14898. Hong Kong -0.34% to 22580. China -0.89% to 2053. India +0.32% to 21277. 

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

Morning Coffee Pre-Market Wall Street News

Consumer Spending Misses Estimates. The Commerce Department reported that personal spending for July rose 0.1% missing Wall Street economists’ estimates. Wall Street had expected personal spending to rise 0.3%. June’s numbers where revised higher to 0.6% from 0.5%. Personal income for July rose 0.1% in-line with estimates, but down from the prior months 0.3% reading. Consumer spending accounts for 70% of the economy. Job growth and wage gains are needed as interest rates on mortgages and home prices continue to rise.  If not, this could cause consumers to stop spending and detail to housing recovery.

Upgrades:

Apache Corp (APA): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $93.00 to $99.00.

Deutsche Bank (DB): JPMorgan raised their rating from Neutral to Overweight.

Intel (INTC): Argus raised their rating from Hold to Buy and placed a target price of $28.00 on the company.

Downgrades:

Joy Global (JOY): BB&T lowered their rating from Buy to Hold.

OmniVision (OVTI): Northland Securities lowered their rating from Outperform to Market Perform.

OmniVision (OVTI): Craig-Hallum lowered their rating from Buy to Hold and lowered their target price from $24.00 to $18.00.

OmniVision (OVTI): Oppenheimer lowered their rating from Outperform to Perform.

Staples (SPLS): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $17.00 to $15.00.

Vodafone (VOD): RW Baird lowered their rating from Outperform to Neutral. Pre-market: 32.03 +0.23 (0.72%)

Coverage Initiated:

Baidu (BIDU): JPMorgan initiated coverage with an Overweight rating and raised their target price from $115.00 to $165.00.

Earning Reports:

bebe Stores (BEBE): Reported EPS of -$0.14 missing estimates by -$0.01.

Big Lots (BIG): Reported EPS of $0.31 beating estimates by +$0.07. Pre-market: 35.35 +0.71 (2.05%)

Krispy Kreme (KKD): d EPS of -$0.14 missing estimates by -$0.02. Pre-market: 20.82 -2.41 (-10.37%)

OmniVision (OVTI): Reported EPS of $0.55 beating estimates by +$0.12. Pre-market: 16.17 -2.24 (-12.17%)

Pacific Sunwear (PSUN): Reported EPS of $0.02 beating estimates by +$0.02. Pre-market: 3.69 -0.23 (-5.87%)

Salesforce.com (CRM): Reported EPS of $0.09 beating estimates by +$0.02. Pre-market: 47.50 +3.85 (8.82%)

Yingli Green Energy (YGE): Reported EPS of -$0.33 in-line with estimates. Pre-market: 4.36 +0.16 (3.81%)

Markets: 
Futures at 8:07: Dow +0.11%. S&P +0.18%. Nasdaq +0.26%. Crude -0.87% to $107.83. Gold -1.12% to $1396.90. U.S. 10 Year -1/32 2.766%

Europe: London -0.45%. Paris -0.76%. Frankfurt -0.71%. 

Asia: Japan -0.53% to 13389. Hong Kong +0.12% to 21731. China +0.05% to 2098. India +1.19% to 18612.