Macy’s Beats Wall Street’s Estimates.

Macy’s Beats Wall Street’s Estimates. Shares retailer Macy's (M) are higher in the pre-market after the company posted Q3 profits that beat Wall Street expectations and made positive comments about the upcoming holiday shopping season. The company reported EPS $0.47, up 31% from a year ago. Analysts' consensus estimate was only $0.39. Macy's has posted 15 straight quarters of improved earnings. Revenue came in at $6.28 billion, up 3.3% also beating estimates. Sales were up 3.5%.

Upgrades:

Qualcomm (QCOM): Goldman Sachs raised their rating from Buy to Conviction Buy and raised their target price of $80.00.

Transocean (RIG): Guggenheim raised their rating from Neutral to Buy and placed a target price of $70.00 on the company.

United States Steel (X): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $32.00 to $35.00.

Union Pacific (UNP): ResearchTeam raised their rating from Reduce to Hold.

Downgrades:

Agrium (AGU): BGC Financial lowered their rating from Buy to Hold.

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

ConocoPhillips (COP): ResearchTeam lowered their rating from Accumulate to Hold.

Dean Foods (DF): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $24.00 to $19.00.

Mosaic (MOS): ResearchTeam lowered their rating from Hold to Reduce.

Nucor (NUE): Morgan Stanley lowered their rating from Overweight to Equal Weight and lowered their target price from $58.00 to $56.00.

Coverage Initiated:

Humana (HUM): FBR Capital initiated coverage with a Market Perform rating and target price of $92.00.

J.M. Sucker (SJM): Credit Suisse initiated coverage with a Neutral rating and target price of $115.00.

MGM Resorts (MGM): FBR Capital initiated coverage with an Outperform rating and target price of $25.00.

Las Vegas Sands (LVS): FBR Capital initiated coverage with an Outperform rating and target price of $80.00.

UnitedHealth (UNH): FBR Capital initiated coverage with an Outperform rating and target price of $77.00.

Wellpoint (WLP): FBR Capital initiated coverage with a Market Perform rating and target price of $93.00.

Wynn Resorts (WYNN): FBR Capital initiated coverage with a Market Perform rating and target price of $175.00.

Earning Reports:

Macy's (M): Reported EPS of $0.47 beating estimates by +$0.08.

MBIA (MBI): Reported EPS of $0.67 beating estimates by +$0.41.

Pinnacle Foods (PF): Reported EPS of $0.36 beating estimates by +$0.01.

Potbelly (PBPB): Reported EPS of $0.15 beating estimates by +$0.09.

Woodward (WWD): Reported EPS of $0.76 beating estimates by +$0.06.

Markets:
Futures at 6:20: Dow -0.2%. S&P -0.2%. Nasdaq -0.3%. Crude +0.3% to $93.33. Gold +0.35% to $1275.00. U.S. 10 Year +11/32 2.736%.

Europe: London -1%. Paris -0.5%. Frankfurt -0.3%. 

Asia: Japan -0.15% to 14567. Hong Kong -1.9% to 22463. China -1.8% to 2087. India -0.4% to 20194. 

Twitter Begins Trading.

Twitter Begins Trading. Shares of Twitter (TWTR) will begin trading this morning on the NYSE after being priced last night at $26.00. The price was above the already increased $23-$25 range. Twitter raised $1.82B by selling 70M shares and it will have a market cap of $14.2B. CEO Dick Costolo said "There's nothing structural about Twitter that prevents us from having the kind of margin profiles of our peer group." Currently Twitter generates no profits.

Downgrades:

Caterpillar (CAT): ISI Group lowered their rating from Buy to Neutral. Pre-market: 83.91 -0.31 (-0.37%)

Deere & Co (DE): ISI Group lowered their rating from Neutral to Cautious. Pre-market: 81.85 +0.05 (0.06%)

Garmin (GRMN): Bank of America Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $51.00 to $46.00.

Qualcomm (QCOM): Northland Securities lowered their rating from Outperform to Market Perform. Pre-market: 67.32 -2.42 (-3.47%)

United Rentals (UTI): ISI Group lowered their rating from Strong Buy to Buy.

Coverage Initiated:

Twitter (TWTR): Evercore initiated coverage with an Overweight rating and target price of $43.00.

Twitter (TWTR): Cantor initiated coverage with a Buy rating and target price of $32.00.

Earning Reports:

Activision Blizzard (ATVI): Reported EPS of $0.08 beating estimates by +$0.04. Pre-market: 16.10 -0.43 (-2.60%)

Beazer Homes (BZH): Reported EPS of $0.36 beating estimates by +$0.10. Pre-market: 19.00 +0.95 (5.26%)

Calpine (CPN): Reported EPS of $0.70 missing estimates by -$0.09. Pre-market: 20.55 +0.81 (4.10%)

CBS (CBS): Reported EPS of $0.76 in-line with estimates. Pre-market: 59.60 -0.02 (-0.03%)

Chiquita Brands (CQB): Reported EPS of -$0.38 missing estimates by -$0.15.

Huntington Ingalls (HII): Reported EPS of $1.17 beating estimates by +$0.33.

Tim Hortons (THI): Reported EPS of $0.77 in-line with estimates.

TreeHouse Foods (THS): Reported EPS of $0.82 beating estimates by +$0.05.

Qualcomm (QCOM): Reported EPS of $1.05 missing estimates by -$0.03. Pre-market: 67.40 -2.34 (-3.36%)

Transocean (RIG): Reported EPS of $1.37 beating estimates by +$0.30. Pre-market: 51.08 +2.05 (4.18%)

Wendy’s (WEN): Reported EPS of $0.08 beating estimates by +$0.02. Pre-market: 8.14 -0.95 (-10.45%)

Markets: 
Futures at 8:05: Dow +0.35%. S&P +0.40%. Nasdaq +0.25%. Crude +0.03% to $94.83. Gold -0.24% to $1314.60. U.S. 10 Year +4/32 2.628%.

Europe: London +0.40%. Paris +1.36%. Frankfurt +1.28%. 

Asia: Japan -0.76% to 14228. Hong Kong -0.68% to 22881. China -0.48% to 2129. India -0.35% to 20823. 

#RLPaler #WallStreet #TwitterIPO #WealthManagement #EarningReports #AnalystsR

Morning Coffee Pre-Market Wall Street News

Celgene’s Arthritis Drug Gets Positive Results. After a year log study Celgene's (CELG) new drug Apremilast saw lasting reductions in the signs and symptoms of psoriatic arthritis. The FDA should make a decision in March on the sale of the drug.  Wall Street estimates for the sales of Apremilast range from $475M-1.5B over the next few years. Pre-market: 156.32 +0.58 (0.37%)

Upgrades:

Bristol Myers Squibb (BMY): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $45.00 to $60.00. Pre-market: 50.15 +1.38 (2.83%)

T. Rowe Price (TROW): UBS raised their rating from Neutral to Buy and raised their target price from $77.00 to $90.00. Pre-market: 76.43 +0.68 (0.90%)

Downgrades:

Baidu (BIDU): BNP Paribas lowered their rating from Buy to Hold and lowered their target price from $168.00 to $145.00. Pre-market: 157.31 -2.05 (-1.29%)

Boeing (BA): Buckingham lowered their rating from Buy to Neutral and lowered their target price from $142.00 to $136.00. Pre-market: 129.75 -1.44 (-1.10%)

Owens Corning (OC): KeyBanc lowered their rating from Buy to Hold. Pre-market: 36.51 -1.29 (-3.41%)

Transocean (RIG): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $53.00 to $50.00. Pre-market: 49.08 -0.42 (-0.85%)

Coverage Initiated:

Bally Technologies (BYI): Citigroup initiated coverage with a Neutral rating and target price of $77.50.

International Game Technology (IGT): Citigroup initiated coverage with a Buy rating and target price of $23.50. Pre-market: 18.68 0.00 (0.00%)

Earning Reports:

Biogen Idec (BIIB): Reported EPS of $2.35 beating estimates by +$0.25. Pre-market: 259.47 +7.21 (2.86%)

Burger King (BKW): Reported EPS of $0.23 beating estimates by +$0.02. Pre-market: 20.30 +0.54 (2.73%)

Kirby (KEX): Reported EPS of $1.21 beating estimates by +$0.09.

Lowes Corp (L): Reported EPS of $0.73 missing estimates by -$0.05. Pre-market: 50.99 +2.18 (4.47%)

Merck (MRK): Reported EPS of $0.92 beating estimates by +$0.04. Pre-market: 45.47 -1.07 (-2.30%)

Markets: 

Futures at 6:20: Dow +0.2%. S&P +0.25%. Nasdaq +0.4%. Crude +0.05% to $97.90. Gold 0.0% at $1352.70. U.S. 10 Year -1/32 2.518%

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

Asia: Japan +2.2% to 14396. Hong Kong +0.5% to 22807. China +0.04% at 2134. India -0.4% at 20595. 

Morning Coffee Pre-Market Wall Street News

Qualcomm Announces Smartwatch. Qualcomm (QCOM) announced the launch of its own smartwatch at the company's annual Uplinq developer conference. The Toq smartwatch use of the company's low-power Mirasol display, features WiPower LE wireless charging, text-message viewing, Bluetooth connectivity, and 3rd-party app support. Other companies that have wearable devices include Samsung’s Galaxy Gear and Google Glass.

Upgrades:

InterContinental Hotel Group (IHG): UBS raised their rating from Neutral to Buy and placed a target price of $32.24 on the company.

Louisiana Pacific (LPX): DA Davidson raised their rating from Neutral to Buy.

Louisiana Pacific (LPX): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $20.00 to $21.00.

Sherwin Williams (SHW): Longbow raised their rating from Neutral to Buy and placed a target price of $215.00 on the company.

Transocean (RIG): Credit Suisse raised their rating from Neutral to Outperform and placed a target price of $60.00 on the company.

Downgrades:

Lockheed Martin (LMT): RBC Capital lowered their rating from Outperform to Sector Perform and placed a target price of $126.00 on the company.

Viacom (VIAB): B. Riley lowered their rating from Buy to Neutral and placed a target price of $85.00 on the company.

Earning Reports:

Jos A. Bank (JOSB): Reported EPS of $0.51 missing estimates by -$0.01.

Markets: 
Futures at 6:20: Dow -0.15%. S&P -0.14%. Nasdaq -0.04%. Crude +0.69% to $107.81. Gold +0.24% to $1393.40. -11/32 2.944%.

Europe: London -0.04%. Paris -0.05%. Frankfurt -0.16%. 

Asia: Japan +0.08% to 14064. Hong Kong +1.22% to 22597. China -0.24% to 2122. India +2.22% to 18969. 

Morning Coffee Pre-Market Wall Street News

U.S. Housing Numbers Miss Estimates. The Commerce Department reported that July’s housing starts rose 5.9% to a seasonally adjusted annual rate of 896,000 units. Wall Street Economists had estimated that housing starts would come in at 900,000 units. June's numbers were revised upward to 846,000-units from the previously reported. Permits to build new homes increased 2.7% in July to a 943,000-unit pace also missing estimates. Economists had expected permits to rise to 945,000. Wall Street analysts are pointing to higher interest rates as the cause of the misses.

Upgrades:

Applied Materials (AMAT): DA Davidson raised their rating from Neutral to Buy and raised their target price from $15.00 to $18.00.

JetBlue Airlines (JBLU): Raymond James raised their rating from Underperform to Market Perform.

Pandora Media (P): Goldman Sachs raised their rating from Neutral to Buy and placed a target price of $27.00 on the company.

Wal-Mart (WMT): S&P raised their rating from 3 Stars to 4 Stars.

Downgrades:

Alcoa (AA): Bank of America Merrill Lynch lowered their rating from Neutral to Underperform and placed a target price of $8.00 on the company.

Colgate-Palmolive (CL): Argus lowered their rating from Buy to Hold.

General Mills (GIS): Jefferies lowered their rating from Hold to Underperform and lowered their target price from $45.00 to $44.00.

Noble Energy (NE): ISI Group lowered their rating from Strong Buy to Buy and placed a target price of $67.00 on the company.

Nordstrom (JWN): Sterne Agee lowered their rating from Buy to Neutral and placed a target price of $62.00 on the company.

Transocean (RIG): Johnson Rice lowered their rating from Overweight to Underweight.

Coverage Initiated:

Xcel Energy (XEL): UBS initiated coverage with a Neutral rating and target price of $30.00.

Earning Reports:

Applied Materials (AMAT): Reported EPS of $0.18 missing estimates by -$0.01.

Dell (DELL): Reported EPS of $0.25 beating estimates by +$0.01.

Nordstrom (JWN): Reported EPS of $0.93 beating estimates by +$0.05.

Markets: 
Futures at 9:01: Dow 0.00%. S&P +0.10%. Nasdaq +0.27%. Crude +0.08% to $107.44. Gold +0.34% at $1365.40. U.S. 10 Year -1/32 2.778%

Europe: London 0.00%. Paris +0.06%. Frankfurt -0.36%. 

Asia: Japan -0.75% to 13650. Hong Kong -0.10% to 22518. China -0.65% to 2068. India -3.97% to 18618. 

Morning Coffee Pre-Market Wall Street News

Eurozone Exits Recession. Things just got better for Europe and the world economy. The Eurozone GDP expanded by +0.3% in Q2, topping economist estimates and ending the Eurozone’s recession. Germany’s GDP expanded by +0.7% exceeding estimates and Q1’s flat GDP. Frances GDP came in at +0.5% vs. -0.2% in Q1, which beat estimates. Surprising the market was Portugal Q2 GDP which came in at +1.1% vs -0.4% in Q1 and economists consensus of -0.15%.

Upgrades:

GlaxoSmithKline (GSK): JPMorgan raised their rating from Underweight to Neutral. Pre-market: 52.36 +0.35 (0.67%)

Marvell Tech (MRVL): B Riley raised the rating from Neutral to Buy.

Downgrades:

Aeropostale (ARO): KeyBanc lowered their rating from Hold to Underweight and placed a target price of $10.00 on the company.

AMR Corp. (AAMRQ): JPMorgan lowered their rating from Overweight to Neutral.

Cree (CREE): Northland Securities lowered their rating from Outperform to Market Perform and lowered their target price from $63.00 to $61.00. Pre-market: 63.70 -12.06 (-15.92%)

Cree (CREE): Susquehanna lowered their rating from Positive to Neutral. Pre-market: 63.70 -12.06 (-15.92%)

Cree (CREE): DA Davidson lowered their rating from Buy to Neutral and lowered their target price from $79.00 to $65.00. Pre-market: 63.70 -12.06 (-15.92%)

Delta Airlines (DAL): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 19.46 -0.09 (-0.46%)

ENSCO PLC (ESV): ISI Group lowered their rating from Buy to Neutral.

Noble Corp (NE): ISI Group lowered their rating from Strong Buy to Neutral.

Transocean (RIG): ISI Group lowered their rating from Strong Buy to Neutral. Pre-market: 47.39 -0.13 (-0.27%)

US Airways (LCC): Deutsche Bank lowered their rating from Buy to Hold. Pre-market: 16.31 -0.05 (-0.31%)

US Airways (LCC): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 16.31 -0.05 (-0.31%)

Western Union (WU): JPMorgan lowered their rating from Neutral to Underweight and lowered their target price from $18.00 to $17.00.

Coverage Initiated:

WisdonTree Investments (WETF): Susquehanna initiated coverage with a Neutral rating and target price of $13.00.

Earning Reports:

Brocade (BRCD): Reported EPS of $0.19 beating estimates by +$0.07. Pre-market: 7.72 +0.82 (11.88%)

Cree (CREE): Reported EPS of $0.38 beating estimates by +$0.01. Pre-market: 63.70 -12.06 (-15.92%)

Deere (DE): Reported EPS of $2.56 beating estimates by +$0.40. Pre-market: 84.60 +0.69 (0.82%)

Jack Henry (JKHY): Reported EPS of $0.55 beating estimates by +$0.03. After Hours: 50.80 +0.03 (0.06%)

Macy's (M): Reported EPS of $0.82 beating estimates by +$0.04. Pre-market: 46.89 -1.61 (-3.32%)

Towers Watson (TW): Reported EPS of $1.36 beating estimates by +$0.09.

Markets: 
Futures at 6:20: Dow -0.13%. S&P -0.15%. Nasdaq -0.12%. Crude -0.70% to $106.10. Gold +0.35% to $1325.10. U.S. 10 Year +1/32 2.722%.

Europe: London -0.11%. Paris +0.36%. Frankfurt +0.12%. 

Asia: Japan +1.32% to 14050. Hong Kong closed. China -0.29% to 2100. India +0.72% to 19368.