Fiat acquires Full Control of Chrysler. Fiat (FIATY) will pay $4.35B to acquire the 41.5% stake in Chrysler owned by the United Auto Workers Retiree Medical Benefits Trust. The deal will help the company consolidate and end the UAW control of the company. The agreement also ends the need for Chrysler’s IPO. The new has sent Fiat shares rocketing in Milan and in the U.S. pre-market, up over 13%. Pre-market: 9.40 +1.10 (13.25%)

Upgrades:

Duke Energy (DUK): BMO Capital raised their rating from Market Perform to Outperform and placed a target price of $77.00 on the company. Pre-market: 69.30 +0.29 (0.42%)

Jacobs Engineering (JEC): RW Baird raised their rating from Neutral to Outperform and raised their target price from $67.00 to $74.00.

United States Steel (X): KeyBanc raised their rating from Hold to Buy and placed a target price of $37.00 on the company. Pre-market: 29.90 +0.40 (1.36%)

Xilinx (XLNX): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $45.00 to $52.00. Pre-market: 46.89 +0.97 (2.11%)

Downgrades:

Apple (AAPL): Wells Fargo lowered their rating from Outperform to Market Perform and maintained their $538.00 -$581.00 target range. Pre-market: 555.10 -5.92 (-1.06%)

Sprint (S): Macquarie lowered their rating from Outperform to Neutral and lowered their target price from $8.25 to $7.50. Pre-market: 10.50 -0.25 (-2.33%)

Sprint (S): Cowen lowered their rating from Outperform to Market Perform. Pre-market: 10.50 -0.25 (-2.33%)

T-Mobile (TMUS): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $37.00 to $32.00. Pre-market: 33.44 -0.20 (-0.59%)

US Bancorp (USB): Macquarie lowered their rating from Outperform to Neutral.

Markets: 
Futures at 8:05: Dow -0.18%. S&P -0.17%. Nasdaq -0.36%. Crude -0.79% to $97.64. Gold +1.26% to $1217.60.  U.S. 10 Year +1/32 to 3.031%.

Europe: London -0.16%. Paris -0.82%. Frankfurt -0.46%. 

Asia: Japan closed. Hong Kong +0.14% to 23340. China -0.31% to 2109. India -1.19% to 20888. 

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

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 Cofee Pre-Market Wall Street News

Google Shares Jump On Earnings. Google's (GOOG) shares jumped 9.19% in the premarket after the company reported Q3 earnings that beat Wall Street estimates. The company reported strong paid-click growth that offset ad-price weakness, with nice gains in mobile. Net profit at the company rose 36% to $2.97B. Adjusted EPS was $2.18B or $10.74 per share. Revenue climbed 12% to $14.89B. Pre-market: 970.50 +81.71 (9.19%)

Upgrades:

Amazon.com (AMZN): UBS raised their rating from Neutral to Buy and raised their target price from $305.00 to $385.00.

21^st Century Fox (FOXA): BTIG raised their rating from Neutral to Buy.

T-Mobile (TMUS): Goldman Sachs raised their rating from Buy to Conviction Buy and placed a target price of $32.00 on the company. Pre-market: 28.10 +0.66 (2.41%)

Downgrades:

Advanced Micro (AMD): Bank of America Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $6.00 to $4.50. Pre-market: 3.70 -0.39 (-9.54%)

IBM (IBM): Argus lowered their rating from Buy to Hold. Pre-market: 175.55 +0.72 (0.41%)

Las Vegas Sands (LVS):Craig-Hallum lowered their rating from Buy to Hold and lowered their target price from $71.00 to $62.00. Pre-market: 71.89 +0.92 (1.30%)

McDermott International (MDR): Macquarie lowered their rating from Outperform to Underperform and lowered their target price from $9.00 to $7.50.

Panera Bread (PNRA): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $190.00 to $165.00. Pre-market: 158.65 -1.90 (-1.18%)

Sanofi (SNY): Leerink lowered their rating from Outperform to Market Perform. Pre-market: 49.99 -0.14 (-0.28%)

UnitedHealth (UNH): Cantor Fitzgerald lowered their rating from Buy to Hold and lowered their target price from $75.00 to $70.00.

Coverage Initiated:

Finish Line (FINL): UBS initiated coverage with a Neutral rating and target price of $25.00.

Earning Reports:

Advanced Micro (AMD): Reported EPS of $0.04 beating estimates by +$0.02. Pre-market: 3.70 -0.39 (-9.54%)

Baker Hughes (BHI): Reported EPS of $0.81 beating estimates by +$0.03. Pre-market: 54.65 +2.87 (5.54%)

Capital One (COF): Reported EPS of $0.86 beating estimates by +$0.05. Pre-market: 73.00 +0.85 (1.18%)

Chipotle Mexican Grill (CMG): Reported EPS of $2.66 missing estimates by -$0.12. Pre-market: 473.55 +34.48 (7.85%)

General Electric (GE): Reported EPS of $0.36 beating estimates by +$0.01. Pre-market: 25.41 +0.73 (2.96%)

Google (GOOG): Reported EPS of $10.74 beating estimates by +0.37. Pre-market: 970.50 +81.71 (9.19%)

Honeywell (HON): Reported EPS of $1.25 beating estimates by +$0.01. Pre-market: 85.65 -1.09 (-1.26%)

Las Vegas Sands (LVS): Reported EPS of $0.82 beating estimates by +0.06. Pre-market: 71.89 +0.92 (1.30%)

Morgan Stanley (MS): Reported EPS of $0.50 beating estimates by +0.09. Pre-market: 29.88 +0.95 (3.28%)

Schlumberger (SLB): Reported EPS of $1.29 beating estimates by +0.05. Pre-market: 93.30 +1.87 (2.05%)

Stryker (SYK): Reported EPS of $0.98 missing estimates by -$0.02. Pre-market: 72.60 +0.05 (0.07%)

Textron (TXT): Reported EPS of $0.35 missing estimates by -$0.08. Pre-market: 26.20 -1.32 (-4.80%)

WD-40 (WDFC): Reported EPS of $0.53 beating estimates by +0.05.

Markets: 
Futures at 7:34: Dow +0.13%. S&P +0.30%. Nasdaq +0.58%. Crude +0.86% to $101.50. Gold -0.47% to $1316.70. U.S. 10 Year +6/32 2.571%.

Europe: London +0.48%. Paris +0.72%. Frankfurt +0.31%. 

Asia: Japan -0.17% to 14562. Hong Kong +1.06% to 23340. China +0.24% to 2194. India +2.29% to 20883. 

#RLPaler

Morning Coffee Pre-Market Wall Street News

U.S. Govt. Shutdown, Who Cares? Markets worldwide were mostly higher despite the U.S. government’s partial shutdown.  The last partial shutdown was over 17 years ago and lasted almost a month. The closure comes after the House and Senate could not agree upon a budget to fund what many consider a blotted government. Most services will remain open despite the shutdown leading many to say who cares? The IRS, postal service, and military will remain open. Additionally, social security and welfare checks will also go out as scheduled. Government agencies that are considered non-essential, which are very few, will be closed and the employees furloughed. A full list can be found at http://www.cnn.com/interactive/2013/09/politics/government-shutdown-impact/

Upgrades:

AFLAC (AFL): FBR Capitol raised their rating from Market Perform to Outperform and raised their target price from $60.00 to $71.00. Pre-market: 61.99 0.00 (0.00%)

Airgas (ARG): Global Hunter raised their rating from Neutral to Buy and raised their target price from $107.00 to $130.00.

Cree (CREE): Canaccord raised their rating from Hold to Buy. Pre-market: 62.48 +2.29 (3.80%)

Nike (NKE): Argus raised their rating from Hold to Buy and placed a target price of $84.00 on the company. Pre-market: 73.25 +0.61 (0.84%)

T-Mobile (TMUS): Oppenheimer raised their rating from Perform to Outperform. Pre-market: 26.25 +0.28 (1.08%)

Under Armour (UA): JPMorgan raised their rating from Underweight to Buy. Pre-market: 79.45 0.00 (0.00%)

Downgrades:

Agilent Technologies(A): Stifel lowered their rating from Buy to Hold and placed a target price of $52.00 on the company.

EOG Resources (EOG): Societe Generale lowered their rating from Hold to Sell and placed a target price of $160.00 on the company. Pre-market: 168.52 -0.76 (-0.45%)

Hess Corp (HES): Societe Generale lowered their rating from Buy to Hold and placed a target price of $86.00 on the company. Pre-market: 76.83 -0.51 (-0.66%)

JC Penney (JCP): Argus lowered their rating from Buy to Hold. Pre-market: 8.83 +0.02 (0.28%)

Coverage Initiated:

Advisory Board (ABCO): Keybanc initiated coverage with a Buy rating and target price of $72.00.

News Corp (NWSA): Evercore initiated coverage with an Equal Weight rating and target price of $18.00. Pre-market: 16.06 0.00 (0.00%)

Earning Reports:

Diamond Foods (DMND): Reported EPS of $0.09 beating estimates by +$0.12. Pre-market: 21.95 -1.60 (-6.79%)

Paychex (PAYX): Reported EPS of $0.44 beating estimates by +$0.01. Pre-market: 40.64 0.00 (0.00%)

Walgreens (WAG): Reported EPS of $0.73 in-line with estimates. Pre-market: 53.34 -0.46 (-0.86%)

Markets: 
Futures at 8:22: Dow +0.26%. S&P +0.27%. Nasdaq +0.26%. Crude -0.01% to $102.34. Gold -0.79% to $1317.20. U.S. 10 Year -10/32 2.646%.

Europe: London -0.45%. Paris +0.59%. Frankfurt +0.43%. 

Asia: Japan +0.20% to 14485. Hong Kong -1.50% to 22860, China closed. India +0.71% to 19517 

Morning Coffee Pre-Market Wall Street News

U.S. Stock Futures Higher Ahead of FOMC Meeting. U.S. stock futures are higher before the opening as traders anxiously await the beginning of the FOMC meeting. The two day policy meeting is scheduled to begin today. Wall Street will be waiting for comments on the direction of the economy, interest rates and the potential winding down of the Fed’s bond buying program. Additionally, the inflation data of May is scheduled to be released today. Economists estimates are that the CPI rose +0.2% month-over-month after falling -0.4% in April, with the main driver of inflation being food and energy cost.

Upgrades:

Daimler AG (DDAIF): Natixis raised their rating from Hold to Buy.

Flir Systems (FLIR): Raymond James raised their rating from Market Perform to Strong Buy and placed a target price of $33.00 on the company.

Downgrades:

Charles River Labs (CRL): Goldman Sachs lowered their rating from Neutral to Sell. Pre-market: 42.40 -0.81 (-1.87%)

HSBC Holdings PLC (HBC): Citigroup lowered their rating from Buy to Neutral. Pre-market: 54.53 +0.74 (1.38%)

Williams Cos. (WMB): Goldman Sachs lowered their rating from Conviction Buy to Buy and placed a target price of $40.00 on the company. Pre-market: 33.00 -0.64 (-1.90%)

Coverage Initiated:

Huntington Ingalls (HII): Stifel initiated coverage with a Hold rating.

LinkedIn (LNKD): Pacific Crest initiated coverage with an Outperform rating and target price of $215.00. Pre-market: 179.21 +1.62 (0.91%)

T-Mobile U.S. (TMUS): Canaccord initiated coverage with a Hold rating and target price of $22.00.

Earning Reports:

FactSet (FDS): Reported EPS of $1.15 missing estimates by -$0.11. Pre-market: 99.01 -4.75 (-4.58%)

Korn/Ferry (KFY): Reported EPS of $0.32 beating estimates by +0.01.

Markets: 

Futures at 7:00: Dow +0.21%. S&P +0.09%. Nasdaq +0.35%. Crude -0.02% to $97.75. Gold -0.68% to $1373.90.

Europe: London +0.85%. Paris -0.05%. Frankfurt +0.05%. 

Asia: Japan -0.20% to 13007. Hong Kong 0.00% at 21226. China +0.14% to 2159. India -0.53% at 19223.