Google to Sell Motorola

Google to Sell Motorola. After buying cell phone manufacturer Motorola two years ago Google (GOOG) is selling it. Lenovo will purchase the smartphone maker for $2.91 billion. In the agreement Google will keep the "vast majority" of Motorola's IP. The sale will also remove a point of contention between other companies that build smatphones using Google’s Android operating system.  (GOOG): Pre-market: 1,135.00 +28.08 (2.54%)

Upgrades:

Baker Hughes (BHI): Argus raised their rating from Hold to Buy and placed a target price of $68.00 on the company. Pre-market: 56.18 +0.37 (0.66%)

Union Pacific (UNP): Atlantic Equities raised their rating from Neutral to Overweight. Pre-market: 173.50 +1.55 (0.90%)

United States Steel (X): Macquarie raised their rating from Neutral to Outperform. Pre-market: 26.00 +0.35 (1.36%)

Downgrades:

ADT (ADT): Oppenheimer lowered their rating from Outperform to Perform. Pre-market: 32.63 -5.18 (-13.70%)

Hess Corp (HES): ISI Group lowered their rating from Buy to Neutral.

Southern Co. (SO): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $45.00 to $43.00. Pre-market: 40.25 -0.64 (-1.57%)

Coverage Initiated:

Clorox (CLX): BTIG initiated coverage with a Buy rating and target price of $100.00. Pre-market: 87.76 +0.68 (0.78%)

Colgate-Palmolive (CL): BTIG initiated coverage with a Buy rating and target price of $72.00. Pre-market: 63.97 +2.38 (3.86%)

DreamWorks Animation (DWA): B. Riley initiated coverage with a Neutral rating and target price of $33.50.

Kimberly-Clark (KMB): BTIG initiated coverage with a Neutral rating and target price of $107.00.

Molson Coors Brewing Co. (TAP): BTIG initiated coverage with a Buy rating and target price of $62.00.

Procter & Gamble (PG): BTIG initiated coverage with a Buy rating and target price of $89.00. Pre-market: 78.05 +0.41 (0.53%)

Earning Reports:

3M (MMM): Reported EPS of $1.62 in-line with estimates. Pre-market: 129.50 -0.75 (-0.58%)

Ball Corp (BLL): Reported EPS of $0.86 beating estimates by +$0.14. Pre-market: 49.85 +0.78 (1.59%)

Cardinal Health (CAH): Reported EPS of $0.90 beating estimates by +$0.06. Pre-market: 69.50 +3.05 (4.59%)

Celgene (CELG): Reported EPS of $1.51missing estimates by -$0.03. Pre-market: 158.59 +0.13 (0.08%)

ConocoPhillips (COP): Reported EPS of $1.40 beating estimates by +$0.07. Pre-market: 66.07 +0.25 (0.38%)

ExxonMobil (XOM): Reported EPS of $1.91missing estimates by -$0.01. Pre-market: 93.70 -1.41 (-1.48%)

Facebook (FB): Reported EPS of $0.31 beating estimates by +$0.04. Pre-market: 63.56 +10.03 (18.74%)

Harley-Davidson (HOG): Reported EPS of $0.34 in-line with estimates.

Hershey Foods (HSY): Reported EPS of $0.86 in-line with estimates.

Potash (POT): Reported EPS of $0.31missing estimates by -$0.02. Pre-market: 30.75 -1.08 (-3.39%)

Qualcomm (QCOM): Reported EPS of 1.26 beating estimates by +$0.08. Pre-market: 72.25 +1.13 (1.59%)

Tenneco (TEN): Reported EPS of $0.96 beating estimates by +$0.12.

Under Armour (UA): Reported EPS of $0.59 beating estimates by +$0.06. Pre-market: 94.88 +9.66 (11.34%)

Viacom (VIAB): Reported EPS of $1.20 beating estimates by +$0.04. Pre-market: 81.00 +0.03 (0.04%)

Visa (V): Reported EPS of $2.20 beating estimates by +$0.04. Pre-market: 223.92 +6.80 (3.13%)

Markets: 
Futures at 8:10: Dow +0.32%. S&P +0.30%. Nasdaq +0.48%. Crude +0.47% to $97.82. Gold -0.63% to $1254.50. U.S. 10 Year +7/32 to 2.709%.

Europe: London -0.36%. Paris -0.39%. Frankfurt -0.39%. 

Asia: Japan -2.45% to 15007. Hong Kong -0.48% to 22035. China +0.56% to 2050. India -0.72% to 20498. 

#RLPaler #WealthManagement #EarningReports #AnalystsRatings #TopWealthManager #PreMarket

Government Motors is No Longer

Government Motors is No Longer. The U.S. government has sold its remaining 31.1M shares in General Motors (GM) for $9.2B. Because of the government ownership some had called the company Government Motors. The sale ends restrictions on executive pay and would allow the payment of dividends and share buybacks. The wisdom of the sale at this time is being questioned since the sale netted only $39B from an initial investment of $49.5B. The total loss to U.S. taxpayers will be over $10.5B.

Upgrades:

Broadcom (BRCM): Charter Equity raised their rating from Market Perform to Buy.

Celgene (CELG): Credit Suisse raised their rating from Neutral to Outperform.

Johnson Controls (JCI): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $61.00 on the company.

Royal Bank of Canada (RY): S&P raised their rating from 3 Stars to 4 Stars.

United Rentals (URI): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $85.00 on the company.

Downgrades:

Quest Diagnostics (DGX): Bank of America Merrill Lynch lowered their rating from Buy to Underperform and lowered their target price from $64.00 to $55.00.

Old Dominion Freight (ODLF): Longbow lowered their rating from Buy to Neutral.

Tenneco (TEN): RBC Capital lowered their rating from Top Pick to Outperform and placed a target price of $66.00 on the company.

Tyson Foods (TSN): Miller Tabak lowered their rating from Buy to Hold and lowered their target price from $35.00 to $33.00.

Coverage Initiated:

IMAX (IMAX): Ascendiant Jefferies initiated coverage with a Buy rating and target price of $32.00.

Papa John’s International (PZZA):  Jefferies initiated coverage with a Hold rating and target price of $86.00.

Rambus (RMBS): Jefferies initiated coverage with a Hold rating and target price of $13.00.

olHold rating

Earning Reports:

AutoZone (AZO): Reported EPS of $6.29 beating estimates by +$0.01.

Burlington Stores (BURL): Reported EPS of -$0.05 in-line with estimates.

Toll Brothers (TOL): Reported EPS of $0.54 beating estimates by +$0.10.

Markets: 
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude +1.2% to $98.49. Gold +1% to $1246.30. 

Europe: London +0.1%. Paris +0.1%. Frankfurt +0.2%. 

Asia: Japan -0.3% to 15611. Hong Kong -0.3% to 23744. China -0.02% at 2237. India -0.3% at 21256. 

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

Morning Coffee Pre-Market Wall Street News

Omnicom and Publicis to Merge. 

Omnicom Group (OMC) and Publicis Groupe (PGPEF) have agreed to merger that creating the world’s largest advertising firm valued at $35.1B. Publicis Chief Executive Maurice Levy said "This is a new company for a new world," and went on to say "It will be able to face the exponential development of new internet giants like Facebook and Google, changing consumer behavior, the explosion of big data, as well as handle the blurring of roles of all the players in the market." Under the deal, Publicis shareholders will receive one newly issued ordinary share of Publicis Omnicom Group for each Publicis share they own, plus a special dividend of 1.00 euro per share. Omnicom shareholders will receive 0.813 newly issued ordinary shares of Publicis Omnicom Group for each Omnicom share they own, together with a special dividend of $2.00 per share.

Upgrades:

Abbott Labs (ABT): ResearchTeam raised their target price from Reduce to Hold.

Apple (AAPL): ResearchTeam raised their target price from Reduce to Hold.

Bank of New York Mellon (BK): Guggenheim raised their rating from Neutral to Buy.

Harley Davidson (HOG): S&P raised their rating from *** Stars to **** Stars.

Hormel Foods (HRL): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $39.00 to $46.00.

Downgrades:

Cadence Design Systems (CDNS): ResearchTeam lowered their rating from Hold to Reduce.

Expedia (EXPE): Lazard Capital lowered their rating from Buy to Neutral. Pre-market: 47.85 +0.65 (1.38%)

ING Groep NV (ING): BTIG lowered their rating from Buy to Neutral.

Microsoft (MSFT): Atlantic Equities lowered their rating from Overweight to Neutral and lowered their target price from $35.00 to $33.00. Pre-market: 31.45 -0.17 (-0.54%)

Ryder Systems (R): ResearchTeam lowered their rating from Hold to Reduce.

Tower Watson (TW): ResearchTeam lowered their rating from Accumulate to Hold.

T. Rowe Price (TROW): RBC Capital lowered their rating from Outperform to Sector Perform and lowered their target price from $82.00 to $80.00.

Coverage Initiated:

Smith & Wesson (SWHC): Dougherty initiated coverage with a Buy and target price of $14.00. Pre-market: 11.12 +0.05 (0.45%)

Earning Reports:

Franklin Resources (BEN): Reported EPS of $0.86 beating estimates by +$0.01. Pre-market: 49.26 +0.60 (1.23%)

Hertz Global (HTZ): Reported EPS of $0.45 in-line with estimates. Pre-market: 26.10 -0.79 (-2.94%)

Loews Corp (L): Reported EPS of $0.69 missing estimates by -$0.10. Pre-market: 48.70 +2.65 (5.75%)

Tenneco (TEN): Reported EPS of $1.10 beating estimates by +$0.01. Pre-market: 49.90 +1.16 (2.38%)

Wynn Resorts (WYNN): Reported EPS of $1.51 missing estimates by -$0.06. Pre-market: 129.60 -1.38 (-1.05%)

Markets: 
Futures at 7:00: Dow -0.17%. S&P -0.21%. Nasdaq -0.15%. Crude +0.53% to $105.25. Gold +0.83% to $1332.90. U.S. 10 Year -4/32 2.584%

Europe: London +0.30%. Paris +0.32%. Frankfurt +0.26%. 

Asia: Japan -3.32% to 13661. Hong Kong -0.54% to 21850. China -1.72% to 1976. India -0.78% to 19,593.