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 

Chrysler IPO to Début in December

Chrysler IPO to Début in December. Reports say that Chrysler could reportedly carry out its IPO this December. The lead underwriters Bank of America (BAC) and JPMorgan (JPM) will be joined by Barclays (BCS), Goldman Sachs (GS), Morgan Stanley (MS) and UBS (UBS).

Upgrades:

Green Mountain Coffee Roasters (GMCR): Janney Capital raised their rating from Neutral to Buy and raised their target price from $75.00 to $80.00.

Hillshire Bands (HSH): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $31.00 to $41.00.

Downgrades:

American Railcar Industries (ARII): Raymond James lowered their rating from Outperform to Underperform.

J.M. Smucker (SJM): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $110.00 on the company.

Qualcomm (QCOM): Raymond James lowered their rating from Strong Buy to Outperform and placed a target price of $79.00 on the company.

Republic Services (RSG): Goldman Sachs lowered their rating from Buy to Neutral and placed a target price of $36.00 on the company.

Coverage Initiated:

Baltic Trading (BALT): Longbow initiated coverage with a Buy rating and target price of $7.00.

Diana Shipping (DSX): Maxim initiated coverage with a Buy rating and target price of $14.00.

Facebook (FB): FBR Capital initiated coverage with an Outperform rating and target price of $60.00.

Genco Shipping & Trading (GNK): Maxim initiated coverage with a Hold rating.

LinkedIn (LNKD): FBR Capital initiated coverage with an Market Perform rating and target price of $214.00.

Navastar Intl (NAV): Longbow initiated coverage with a Neutral rating.

Star Bulk Containers (SBLK): Maxim initiated coverage with a Buy rating and target price of $12.00.

Earning Reports:

Abercrombie & Fitch (ANF): Reported EPS of $0.52 beating estimates by +$0.08. Pre-market: 34.00 -0.99 (-2.83%)

Dollar Tree (DLTR): Reported EPS of $0.58 missing estimates by -$0.02. Pre-market: 55.55 -3.37 (-5.72%)

Gamestop (GME): Reported EPS of $0.58 beating estimates by +$0.01.

Sears Hldg (SHLD): Reported EPS of -$5.03 missing estimates by -$1.64.

Target (TGT): Reported EPS of $0.54 missing estimates by -$0.10.

Markets: 
Futures at 6:20: Dow +0.25%. S&P +0.2%. Nasdaq +0.3%. Crude 0.0% at $93.35. Gold -0.9% to $1246.60. U.S. 10 Year -5/32 2.823%.

Europe: London +0.1%. Paris -0.3%. Frankfurt -0.3%. 

Asia, Japan +1.9% to 15365.6. Hong Kong -0.5% to 23580. China 0.0% at 2206. India -2% to 20229.

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

Morning Coffee Pre-Market Wall Street News

UPS and the University of Virginia Blame Obamacare for Cuts. Both UPS (UPS) and the University of Virginia announced they would end offering medical benefits to family members of employees, blaming Obamacares increased cost as the direct cause. UPS in an announcement said it will cut healthcare benefits for around 15,000 working spouses of employees starting in 2014. The company said that it expects coast to the company due to Obamacare to increase +11.25%. In a memo the company also said that it expects that 35% of companies will also drop coverage of employee spouses.  The University of Virginia announced that they also will be dropping coverage of employee spouses due to direct cost increases due to Obamacare. The University said that it expects to pay $7.3 million more in 2014 due to Obamacare. Additionally, Xerox (XRX) is having employees pay $1,000 if they wish to keep their spouse on their current company medical plan, otherwise the company will be dropping them.

Upgrades:

Microsoft (MSFT): Nomura raised their rating from Neutral to Buy and placed a target price of $38.00 on the company. Pre-market: 32.12 +0.51 (1.61%)

Precision Castparts (PCP): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $228.00-$234.00 to $240.00-$248.00.

Downgrades:

Abercrombie & Fitch (ANF): Janney Capital lowered their rating from Buy to Neutral. Pre-market: 37.74 -9.06 (-19.36%)

Target Corp (TGT): ISI Group lowered their rating from Strong Buy to Buy and placed a target price of $70.00 on the company. Pre-market: 65.25 -0.25 (-0.38%)

Target Corp (TGT): William Blair lowered their rating from Market Perform to Undrperform. Pre-market: 65.25 -0.25 (-0.38%)

Coverage Initiated:

Tesla Motors (TSLA): Stifel initiated coverage with a Hold rating. Pre-market: 149.12 +1.26 (0.85%)

Zynga (ZNGA): The Benchmark Co initiated coverage with a Hold rating and a target price of $2.98. Pre-market: 2.77 +0.02 (0.73%)

Earning Reports:

Abercrombie & Fitch (ANF): Reported EPS of $0.16 missing estimates by -$0.12. Pre-market: 37.74 -9.06 (-19.36%)

Children’s Place (PLCE): Reported EPS of -$0.42 beating estimates by +$0.11. Pre-market: 55.87 +4.47 (8.70%)

Dollar Tree (DLTR): Reported EPS of $0.56 missing estimates by -$0.01. Pre-market: 51.45 -0.39 (-0.75%)

Gamestop (GME): Reported EPS of $0.09 beating estimates by +$0.06. Pre-market: 52.40 +4.78 (10.04%)

Hewlett-Packard (HPQ): Reported EPS of $0.86 in-line with estimates. Pre-market: 23.49 -1.89 (-7.45%)

Hormel Foods (HRL): Reported EPS of $0.42 missing estimates by -$0.03. Pre-market: 41.60 -0.51 (-1.21%)

Patterson Companies (PDCO): Reported EPS of $0.46 missing estimates by -$0.03.

Sears Holdings (SHLD): Reported EPS of -$1.46 missing estimates by -$0.34. Pre-market: 40.13 -3.14 (-7.26%)

Markets: 
Futures at 8:09: Dow +0.24%. S&P +0.32%. Nasdaq +0.47%. Crude +0.22% to $104.07. Gold +0.07% to $1371.00. U.S. 10 Year -1/32 2.902%.

Europe: London +0.87%. Paris +0.96%. Frankfurt +1.08%. 

Asia: Japan -0.44% to 13365. Hong Kong +0.36% to 21895. China -0.28% to 2067. India +2.27% to 18313. 

Morning Coffee Pre-Market Wall Street News

U.S. Stock Futures Lower Before Fed Announcement. U.S. stock futures are lower as Wall Street waits for the Fed to announce the results of the latest FOMC meeting. Economists are not expecting the Fed to raise interest rates, but Wall Street traders will be looking closely at the language contained in the announcement for signs that the Fed could end their stimulus program earlier than expected. This morning the U.S. 10 Year yield is higher at 2.827%.

Upgrades:

Garmin Ltd. (GRMN): Goldman Sachs raised their rating from Sell to Neutral and placed a target price of $39.00 on the company.

Herbalife (HLF): Argus raised their rating from Hold to Buy and placed a target price of $80.00 on the company. Pre-market: 66.00 +1.28 (1.98%)

NASDAQ OMX Group (NDAQ): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $36.00 to $38.00.

Royal Caribbean Cruises (RCL): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $37.00 to $49.00. Pre-market: 38.38 +0.33 (0.87%)

Downgrades:

Agrium (AGU): HSBC lowered their rating from Overweight to Neutral.

Chesapeake Energy (CHK): Susquehanna lowered their rating from Positive to Neutral. Pre-market: 24.95 -0.31 (-1.23%)

Mosaic (MOS): HSBC lowered their rating from Neutral to Underweight. Pre-market: 41.46 -0.52 (-1.24%)

Potash Corp. of Saskatchewan (POT): HSBC lowered their rating from Overweight to Underweight. Pre-market: 29.60 -0.40 (-1.33%)

Tupperware Brands (TUP): BMO Capital lowered their rating from Outperform to Market Perform and placed a target price of $91.00 on the company.

Coverage Initiated:

Navistar Intl (NAV): Susquehanna initiated coverage with a Neutral rating and target price of $31.00.

PACCAR Inc (PCAR): Susquehanna initiated coverage with a Neutral rating and target price of $56.00.

SodaStream Intl (SODA): Longbow initiated coverage with a Buy rating and target price of $79.00. Pre-market: 65.00 +1.04 (1.63%)

Earning Reports:

American Eagle (AEO): Reported EPS of $0.09 missing estimates by -$0.01.

Barnes & Noble (BKS): Reported EPS of -$0.86 missing estimates by -$0.07. Pre-market: 14.65 +0.04 (0.27%)

Best Buy (BBY): Reported EPS of $0.32 beating estimates by +$0.21. Pre-market: 34.54 -0.26 (-0.75%)

Dick's Sporting Goods (DKS): Reported EPS of $0.71 missing estimates by -$0.03.

Home Depot (HD): Reported EPS of $1.24 beating estimates by +$0.03. Pre-market: 74.60 +0.31 (0.42%)

JC Penney (JCP): Reported EPS of $1.17 missing estimates by -$0.03.

J.M. Smucker (SJM): Reported EPS of $1.20 beating estimates by +$0.04.

Lowe’s (LOW): Reported EPS of $0.88 beating estimates by +$0.09.

Medtronic (MDT): Reported EPS of $0.88 in-line with estimates.

PetSmart (PETM): Reported EPS of $0.89 beating estimates by +$0.03.

Staples (SPLS): Reported EPS of $0.16 missing estimates by -$0.02.

Target (TGT): Reported EPS of $0.95 in-line with estimates.

TJX (TJX): Reported EPS of $0.66 beating estimates by +$0.03.

Toll Brothers (TOLL): Reported EPS of $0.26 beating estimates by +$0.01.

Trina Solar (TSL): Reported EPS of -$0.47 beating estimates by +$0.11.

Markets: 
Futures at 7:47: Dow -0.17%. S&P -0.18%. Nasdaq -0.19%. Crude -0.55% to $104.53. Gold -0.48% to $1366.10. U.S. 10 Year -3/32 2.827%.

Europe: London -0.50%. Paris 0.00%. Frankfurt -0.13%. 

Asia: Japan +0.21% to 13424. Hong Kong -0.69% to 21818. China +0.02% at 2073. India -1.86% to 17906. 

Morning Coffee Pre-Market Wall Street News

Tesla’s Earnings Beat Estimates. Tesla's (TSLA) reported EPS of shares $0.05 vs consensus for a loss of $0.17, while revenues surged to $405.1M from $26.6M last year and the gross margin hit 22%. Helping the numbers is the very popular all electric Model S. Shares of the company rose 12.5% in the pre-market.

Upgrades:

Groupon (GRPN): Raymond James raised their rating from Underperform to Market Perform.

Microsoft (MSFT): Evercore raised their rating from Equal Weight to Overweight.

Lowe’s Cos (LOW): Cleveland Research raised their rating from Neutral to Buy.

Lowe’s Cos (LOW): JPMorgan raised their rating from Neutral to Overweight.

Tata Motors (TTM): Nomura raised their rating from Neutral to Buy.

Downgrades:

Ralph Lauren (RL): ISI Group lowered their rating from Strong Buy to Buy.

Target Corp (TGT): JPMorgan lowered their rating from Overweight to Neutral.

Whole Food Markets (WFM): Northcoast lowered their rating from Buy to Neutral.

Coverage Initiated:

Netflix (NFLX): RW Baird initiated coverage with a Neutral rating and target price of $263.00.

Nike (NKE): Wells Fargo initiated coverage with an Outperform rating and target range of $73.00 - $76.00.

Stryker (SYK): Needham initiated coverage with a Hold rating.

Under Armour (UA): Wells Fargo initiated coverage with a Market Perform rating and target range of $73.00 - $75.00.

Zimmer Holdings (ZMH): Needham initiated coverage with a Buy rating and target price of $98.00.

Earning Reports:

Advance Auto (AAP): Reported EPS of $1.59 beating estimates by +$0.10.

Chiquita Brands (CQB): Reported EPS of $0.66 beating estimates by +$0.20.

Cooper Tire (CTB): Reported EPS of $0.55 missing estimates by -$0.38.

Foster Wheeler (FWTL): Reported EPS of $0.54 beating estimates by +$0.21.

MAXIMUS (MMS): Reported EPS of $0.41 in-line with estimates.

Orbitz (OWW): Reported EPS of $0.00 missing estimates by -$0.10.

Tesla Motors (TSLA): Reported EPS of $0.05 beating estimates by +$0.22.

TreeHouse Foods (THS): Reported EPS of $0.65 beating estimates by +$0.02.

Transocean (RIG): Reported EPS of $1.08 in-line with estimates.

Markets: 

Futures at 9:10: Dow +0.42%. S&P +0.41%. Nasdaq +0.44%. Crude -0.89% to $103.50. Gold +0.59% to $1292.90. U.S. 10 Year 5/32 2.594

Europe: London +0.59%. Paris +0.70%. Frankfurt +0.90%. 

Asia: Japan -1.59% to 13606. Hong Kong +0.31% to 21656. China -0.09% to 2045. India +0.67% to 18,789.