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

China Bans Banks from Bitcoin

China Bans Banks from Bitcoin. Report says that The People's Bank of China has banned banks from trading in Bitcoin. In a statement officials said that the virtual currency doesn't have "real meaning," and no legal status as a formal currency. While the ban affects banks, Chinese citizens are still free to trade the currency. Currently Bitcoins are trading down -15.8% to $1000 on the news.

Upgrades:

Aeropostale (ARO): KeyBanc raised their rating from Underweight to Neutral. Pre-market: 8.90 -0.46 (-4.91%)

Celgene (CELG): UBS raised their rating from Neutral to Buy and raised their target price from $163.00 to $200.00. Pre-market: 163.25 +3.18 (1.99%)

Jack in the Box (JACK): Wedbush raised their rating from Neutral to Outperform and raised their target price from $50.00 to $60.00. Pre-market: 47.12 +0.64 (1.38%)

Smith &Wesson (SWHC): Lake Street raised their rating from Hold to Buy and raised their target price from $12.00 to $17.00. Pre-market: 11.85 +0.25 (2.16%)

Sprint (S): Nomura raised their rating from Neutral to Buy and raised their target price from $6.00 to $10.50. Pre-market: 8.10 +0.15 (1.89%)

Tiffany & Co (TIF): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $97.00 to $105.00. Pre-market: 90.15 +1.57 (1.77%)

Union Pacific (UNP): Raymond James raised their rating from Outperform to Strong Buy. Pre-market: 163.50 +2.11 (1.31%)

Downgrades:

J.M. Smucker (SJM): Wells Fargo lowered their rating from Market Perform to Underperform. Pre-market: 103.00 -1.75 (-1.67%)

Coverage Initiated:

Boston Scientific (BSX): The Benchmark Co. initiated coverage with a Hold rating and target price of $12.00.

eBay (EBAY): CRT Capital initiated coverage with a Fair Value rating and target price of $58.00. Pre-market: 51.08 -0.01 (-0.02%)

Oracle (ORCL): BMO Capital initiated coverage with an Outperform rating and target price of $42.00.

Raymond James (RJF): Buckingham initiated coverage with a Buy rating and target price of $58.00.

Spirit Aero Systems (SPR): Citigroup initiated coverage with a Buy rating and target price of $39.00. Pre-market: 33.81 +2.17 (6.86%)

Earning Reports:

Aeropostale (ARO): Reported EPS of -$0.29 missing estimates by -$0.06. Pre-market: 8.90 -0.46 (-4.91%)

Dollar General (DG): Reported EPS of $0.72 beating estimates by +$0.02.

Guess? (GES): Reported EPS of $0.42 beating estimates by +$0.05. Pre-market: 34.00 +0.66 (1.98%)

Royal Bank of Canada (RY): Reported EPS of $1.40 beating estimates by +$0.02.

Synopsys (SNPS): Reported EPS of $0.56 beating estimates by +$0.01.

Markets: 
Futures at 7:43: Dow -0.03%. S&P +0.12%. Nasdaq +0.20%. Crude +0.14% to $97.37. Gold -1.32% to $1230.70. U.S. 10 Year -9/32 2.870%.

Europe: London +0.04%. Paris -0.13%. Frankfurt +0.31%. 

Asia: Japan -1.50% to 15177. Hong Kong -0.07% to 23713. China -0.21% to 2247. India +1.20% to 20958. 

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

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. 

Morning Coffee Pre-Market Wall Street News

Bonds Continue to See Massive Outflows. According to a report from TrimTabs outflows from U.S. bond mutual funds and ETFs have risen to $19.7B so far in August. So far this month’s number is the fourth-highest outflow on record and up from $14.8B in July. Since the beginning of June, $103.5B or 2.7% of the total assets invested in bond funds have left the asset class. The mass exodus can be directly tired to fears of the Fed ending its stimulus program which has sent yields higher. This morning the U.S. 10 Year stands at 2.843% its highest yield in over two years. U.S. 10 Year -4/32 2.843%

Upgrades:

American Midstream Partners (AMID): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $19.00-$21.00 to $23.00-$25.00.

Dollar General (DG): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $51.00 to $64.00.

Intel (INTC): Piper Jaffray raised their rating from Underweight to Neutral and raised their target price from $20.00 to $22.00. Pre-market: 22.03 +0.11 (0.52%)

Kaiser Aluminum (KALU): Sterne Agee raised their rating from Neutral to Buy.

Orbital Sciences (ORB): ReserchTeam raised their rating from Reduce to Hold.

Public Storage (PSA): RBC Capital raised their rating from Underperform to Sector Perform and raised their target price from $158.00 to $160.00.

Pulte Group (PHM): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $15.50-$16.50 to $19.00-$20.00. Pre-market: 16.49 +0.21 (1.29%)

Ross Stores (ROST): Morgan Stanley raised their rating from Equal Weight to Overweight and placed a target price of $77.00 on the company. Pre-market: 66.00 +1.24 (1.91%)

Downgrades:

Abbott (ABT): ResearchTeam lowered their rating from Hold to Reduce.

Foot Locker (FL): ResearchTeam lowered their rating from Hold to Reduce.

TRW Automotive (TRW): ResearchTeam lowered their rating from Accumulate to Hold.

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

Coverage Initiated:

Lumber Liquidators (LL): Jefferies initiated coverage with a Buy rating and target price of $115.00.

Earning Reports:

Saks (SKS): Reported EPS of -0.10 missing estimates by -$0.02. Pre-market: 16.00 -0.02 (-0.12%)

Markets:

Futures at 7:28: Dow -0.03%. S&P -0.08%. Nasdaq +0.04%. Crude -0.10% to $107.06. Gold +0.08% to $1372.20. U.S. 10 Year -4/32 2.843%

Europe: London -0.45%. Paris -0.87%. Frankfurt -0.30%. 

Asia: Japan +0.79% to 13758. Hong Kong -0.24% to 22464. China +0.83% to 2086. India -1.56% to 18266.