Twitter to Price IPO Shares.

Twitter to Price IPO Shares. The microblogging Web site Twitter (TWTR) is expected to price its IPO today with shares to begin trading tomorrow on the NYSE. The company raised the price range of the IPO shares to $23-$25 a share. The company is expected to sell 70M shares, which would generate $1.61-1.75B for the company and have a market cap of $12.5-13.6B.

Upgrades:

Cardinal Health (CAH): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $73.00 on the company.

Louisiana-Pacific (LPX): TD Securities raised their rating from Reduce to Hold.

T-Mobile (TMUS): Canaccord raised their rating from Hold to Buy and raised their target price from $25.00 to $33.00.

Downgrades:

Advisory Board (ABCO): Raymond James lowered their rating from Outperform to Market Perform.

Buffalo Wild Wings (BWLD): Miller Tabak lowered their rating from Buy to Hold.

Tenet Healthcare (THC): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $50-$55 to $41-$47.

Unilever (UN/UL): Normura lowered their rating from Buy to Neutral.

Coverage Initiated:

Morningstar (MORN): Keefe Bruyette initiated coverage with a Market Perform rating and target price of $91.00.

Earning Reports:

Carlyle (CG): Reported EPS of $0.51 missing estimates by -$0.08. Pre-market: 29.12 -1.01 (-3.35%)

Humana (HUM): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 91.50 -2.45 (-2.61%)

Magna (MGA): Reported EPS of $1.39 beating estimates by +$0.04.

Polo Ralph Lauren (RL): Reported EPS of $2.23 beating estimates by +$0.03. Pre-market: 179.50 +8.31 (4.85%)

Sturm Ruger (RSG): Reported EPS of $1.44 missing estimates by -$0.02.

Tesla Motors (TSLA): Reported EPS of $0.12 beating estimates by +$0.02. Pre-market: 154.74 -22.07 (-12.48%)

Time Warner (TWX): Reported EPS of $1.01 beating estimates by +$0.12. Pre-market: 68.60 +0.37 (0.54%)

Zillow (Z): Reported EPS of -$0.05 beating estimates by +$0.02. Pre-market: 87.00 +4.69 (5.70%)

Markets: 
Futures at 6:20: Dow +0.5%. S&P +0.6%. Nasdaq +0.4%. Crude +0.8% to $94.11. Gold +0.7% to $1317.30. 

Europe: London +0.1%. Paris +0.9%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 14337. Hong Kong 0.0% at 23037. China -0.8% to 2140. India -0.4% to 20895. 

#RLPaler #WallStreet #TwitterIPO #WealthManagement #EarningReports #AnalystsRatings

Morning Coffee Pre-Market Wall Street News

BlackBerry to be Acquired. Troubled cell phone maker BlackBerry (BBRY) has agreed to be acquired for $4.7 billion. A consortium led by Fairfax Financial will pay $9.00 share in cash and roll over its existing 9.9% stake into its buyout offer.  Fairfax Financial will rely on other investors to finance the rest of the deal via equity and debt. BlackBerry can look at competing bids up until the due diligence is completed. Pre-market: 8.79 -0.03 (-0.34%)

Upgrades:

Apple (AAPL): Susquehanna raised their rating from Neutral to Positive and raised their target price from $440.00 to $625.00. Pre-market: 495.60 +4.96 (1.01%)

BlackBerry (BBRY): Cowen raised their rating from Underperform to Market Perform and raised their target price from $8.00 to $9.00. Pre-market: 8.79 -0.03 (-0.34%)

BlackBerry (BBRY): Canaccord raised their rating from Sell to Hold and placed a target price of $9.00 on the company. Pre-market: 8.79 -0.03 (-0.34%)

Microchip Tech (MCHP): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $42.00 to $46.00. Pre-market: 40.84 +0.51 (1.26%)

Downgrades:

Automatic Data Processing (ADP): RBC Capital lowered their rating from Outperform to Sector Perform.

DirecTV (DTV): Moffett Research lowered their rating from Buy to Neutral.

Equifax (EFX): RBC Capital lowered their rating from Outperform to Sector Perform.

Red Hat (RHT): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 47.55 -5.38 (-10.16%)

Coverage Initiated:

Automatic Data Processing (ADP): UBS initiated coverage with a Neutral rating and target price of $110.00.

Sturm Ruger & Company (RGR): Dougherty initiated coverage with a Neutral rating.

Tata Motors (TTM): Bernstein initiated coverage with an Outperform rating.

Earning Reports:

CarMax (KMX): Reported EPS of $0.62 beating estimates by +$0.07. Pre-market: 52.22 +2.21 (4.42%)

KB Home (KBH): Reported EPS of $0.28 beating estimates by +$0.07. Pre-market: 16.86 -0.17 (-1.00%)

Lennar (LEN): Reported EPS of $0.54 beating estimates by +$0.08. Pre-market: 35.10 +0.56 (1.62%)

Red Hat (RHT): Reported EPS of $0.35 beating estimates by +$0.02. Pre-market: 47.55 -5.38 (-10.16%)

Markets: 
Futures at 8:14: Dow +0.02%. S&P -0.02%. Nasdaq +0.09%. Crude -0.60% to $102.96. Gold -0.93% to $1315.00. U.S. 10 Year +5/32 2.688%

Europe: London +0.27%. Paris +0.69%. Frankfurt +0.25%. 

Asia: Japan -0.07% to 14732. Hong Kong -0.82% to 23179. China -0.61% to 2207. India +0.10% to 19911. 

Morning Coffee Pre-Market Wall Street News

J.C. Penney shares get hit. Shares of J.C. Penney (JCP) fell -10.2% yesterday following news that commercial lender CIT is no longer financing deliveries from small manufacturers to the company's stores due to credit fears. According to RetailSails JCP is still receiving financing from other companies other than CIT.

Upgrades:

Baker Hughes (BHI): Argus raised their rating from Sell to Hold.

Comcast (CMCSA): RW Baird raised their rating from Neutral to Outperform and raised their target price from $45.00 to $54.00.

Covance (CVD): First Analysis raised their rating from Equal Weight to Overweight and placed a target price of $96.00 on the company.

J.C. Penney (JCP): Atlantic Equities raised their rating from Neutral to Overweight. Pre-market: 15.53 +0.93 (6.37%)

Downgrades:

Humana (HUM): Stifel lowered their rating from Buy to Hold. Pre-market: 90.70 -0.56 (-0.61%)

J.C. Penney (JCP): Citigroup lowered their rating from Neutral to Sell and lowered their target price from $20 to $11.00.

Raymond James (RJF): Susquehanna lowered their rating from Positive to Neutral. Pre-market: 43.83 -0.24 (-0.54%)

Starbucks (SBUX): Williams Capital raised their rating from Hold to Buy and placed a target price of $85.00 on the company.

Coverage Initiated:

Chico’s FAS (CHS): FBR Capital initiated coverage with a Market Perform rating and target price of $17.00.

Gap (GPS): FBR Capital initiated coverage with an Outperform rating and target price of $53.00.

Guess? (GES): Susquehanna initiated coverage with a Neutral rating and target price of $38.00.

Earning Reports:

Allstate (ALL): Reported EPS of $1.12 beating estimates by +$0.14. Pre-market: 51.75 +0.77 (1.51%)

AstraZeneca (AZN): Reported EPS of $1.20 beating estimates by +$0.17. Pre-market: 50.31 -0.41 (-0.81%)

Automatic Data (ADP): Reported EPS of $0.55 missing estimates by -$0.02. Pre-market: 69.85 -2.24 (-3.11%)

Boston Beer Co (SAM): Reported EPS of $1.45 beating estimates by +$0.11. Pre-market: 190.00 +11.02 (6.16%)

Cardinal Health (CAH): Reported EPS of $0.79 beating estimates by +$0.02.

CBS (CBS): Reported EPS of $0.76 beating estimates by +$0.04. Pre-market: 54.10 +1.26 (2.38%)

Clorox (CLX): Reported EPS of $1.38 beating estimates by +$0.04.

ConocoPhillips (COP): Reported EPS of $1.41 beating estimates by +$0.11. Pre-market: 65.90 +1.04 (1.60%)

DIRECTV (DTV): Reported EPS of $1.18 missing estimates by -$0.16. Pre-market: 60.00 -3.28 (-5.18%)

Dreamworks Animation (DWA): Reported EPS of $0.26 beating estimates by +$0.08. Pre-market: 26.49 +1.73 (6.99%)

Exxon Mobil (XOM): Reported EPS of $1.55 missing estimates by -$0.35. Pre-market: 92.75 -1.00 (-1.07%)

Fluor (FLR): Reported EPS of $0.98 missing estimates by -$0.03. Pre-market: 62.56 0.00 (0.00%)

Kellogg (K): Reported EPS of $1.00 beating estimates by +$0.02. Pre-market: 65.45 -0.79 (-1.19%)

Microchip (MCHP): Reported EPS of $0.57 beating estimates by +$0.03.

Procter & Gamble (PG): Reported EPS of $0.79 beating estimates by +$0.02. Pre-market: 81.67 +1.37 (1.71%)

Sturm Ruger (RGR): Reported EPS of $1.63 beating estimates by +$0.45. Pre-market: 54.15 +3.28 (6.45%)

SunPower (SPWR): Reported EPS of $0.48 beating estimates by +$0.37. Pre-market: 27.63 -0.02 (-0.07%)

Markets: 
Futures at 8:20: Dow +0.73%. S&P +0.77%. Nasdaq +0.78%. Crude +1.94% to $107.07. Gold +1.08% to $1327.20. U.S. 10 Year -16/32 2.642%

Europe: London +0.07%. Paris +0.55%. Frankfurt +1.24%. 

Asia: Japan +2.47% to 14006. Hong Kong +0.94% to 22089. China +1.77% to 2029. India -0.15% to 19,314.