Google Shares Split

Google Shares Split. 

Google will split their shares today with investors will receive one class-C share for each class-A and class-B shares they own. The split will allow founders Larry Page and Sergey Brin to maintain control of the company through their class B shares they currently hold. The class-C shares will have no voting rights. Both class-A and class-C share will be included in the S&P 500 index. The class- A shares will trade under the ticker (GOOGL) and the class-C shares will trade under (GOOG) ticker. Both classes of shares are expected to trade with little spread to each other. As part of a settlement with investors the company agreed to reimburse holders of the class C shares should they fail to trade in line with the existing A shares.

Upgrades:

Eli Lilly (LLY): Cowen & Company raised their rating from Market Perform to Outperform and placed a target price of $68.00 on the company.

Monsanto (MON): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $125.00 on the company. Pre-market: 116.00 +1.58 (1.38%)

Downgrades:

BB&T Corp (BBT): Raymond James lowered their rating from Strong Buy to Outperform and placed a target price of $44.00 on the company.

CSX (CSX): Barclays lowered their rating from Overweight to Equal Weight and placed a target price of $30.00 on the company. Pre-market: 28.92 -0.30 (-1.03%)

Deutsche Bank (DB): Morgan Stanley lowered their rating from Overweight to Neutral. Pre-market: 45.13 -0.90 (-1.96%)

Royal Caribbean (RCL): Swedbank lowered their rating from Buy to Neutral. Pre-market: 56.14 -0.43 (-0.76%)

Coverage Initiated:

Altera Corp (ALTR): Piper Jaffrey initiated coverage with an Overweight rating and target price of $41.00.

Altera Corp (ALTR): FBR Capital initiated coverage with an Outperform rating.

BP p.l.c (BP): BMO Capital initiated coverage with a Market Perform rating. Pre-market: 48.33 -0.11 (-0.23%)

ConAgra (CAG): Morgan Stanley initiated coverage with an Equal Weight rating and target price of $30.00.

ConocoPhillips (COP): BMO Capital initiated coverage with a Market Perform and target price of $70.00.

Chevron (CVX): BMO Capital initiated coverage with a Market Perform and target price of $125.00.

Total (TOT): BMO Capital initiated coverage with an Outperform. Pre-market: 65.86 +0.06 (0.09%)

W.P. Carey (WPC): Capital One initiated coverage with an Equal Weight and target price of $64.00.

Earning Reports:

Greenbrier Comp (GBX): Reported EPS of $0.51 missing estimates by -$0.10. Pre-market: 45.74 -1.97 

Perry Ellis (PERY): Reported EPS of $0.06 beating estimates by +$0.03. Pre-market: 14.55 +0.30 (2.11%)

Markets: 
Futures at 8:36: Dow +0.05%. S&P 0.00%. Nasdaq -0.01%. Crude -0.12% to $99.48. Gold -0.60% to $1283.10. U.S. 10 Year -1/32 to 2.800%

Europe: London +0.10%. Paris +0.23%. Frankfurt +0.17%. 

Asia: Japan +0.84% to 15072. Hong Kong +0.18% to 22565. China -0.74% to 2044. India -0.19% to 22509. 

#RLPaler #TopWealthManager #WallStreet #Stocks #GoogleSplit 

Stock Market Futures Point to Small Gain at Opening. Stock futures show the market opening with a small gain after the release of the latest ADP employment numbers. ADP reported that private employment for March came in at 191,000 up from 178,000 in February, but below economist estimates of 215,000 jobs. Economists are also expected the government jobs report to come in at 250,000 new jobs of Friday. Factory orders for February are also expected to be released today at 10:00 a.m. Economist expect to see a 1.1% increase.

Upgrades:

Comerica (CMA): Wells Fargo raised their rating from Underperform to Market Perform.

Intuitive Surgical (ISRG): JMP Securities raised their rating from Market Underperform to Market Outperform and placed a target price of $700.00 on the company. Pre-market: 508.00 +14.40 (2.92%)

W.P. Carey (WPC): First Call raised their rating from Buy to Strong Buy.

Downgrades:

Edison International (EIX): Argus lowered their rating from Buy to Hold.

Potash Corp. (POT): Alta Corp lowered their rating from Sector Perform to Underperform and placed a target price of $28.00 on the company. Pre-market: 34.93 -0.39 (-1.10%)

U.S. Bancorp (USB): Sandler O’Neil lowered their rating from Buy to Hold. Pre-market: 42.83 -0.16 (-0.37%)

Coverage Initiated:

Ford Motor Co. (F): Nomura initiated coverage with a Neutral rating and target price of $15.00. Pre-market: 16.35 +0.03 (0.18%)

General Motors (GM): Nomura initiated coverage with a Reduce rating and target price of $32.00. Pre-market: 34.61 +0.27 (0.79%)

Honda Motor (HMC): Credit Suisse initiated coverage with a Outperform rating. Pre-market: 35.48 +0.28 (0.80%)

NRG Energy (NRG): Barclays resumed coverage with an Overweight rating and target price of $36.00.

Textron (TXT): JPMorgan resumed coverage with an Overweight rating and target price of $44.00.

Earning Reports:

Jos. A. Bank (JOSB): Reported EPS of $1.07 in-line with estimates.

Monsanto (MON): Reported EPS of $3.15 beating estimates by $0.08. Pre-market: 114.97 +0.98 (0.86%)

Markets: 
Futures at 8:46: Dow +0.08%. S&P +0.03%. Nasdaq +0.14%. Crude -0.77% to $98.97. Gold +1.00% to $1292.50. U.S. 10 Year -6/32 to 2.778%.

Europe: London +0.09%. Paris +0.09%. Frankfurt +0.26%. 

Asia: Japan +1.04% to 14946. Hong Kong +0.34% to 22524. China +0.56% to 2056. India +0.47% to 2253. 

#RLPaler #TopWealthManager #WallStreet #Stocks #ADPEmployment

China Data Sends Markets Lower

China Data Sends Markets Lower. Chinese exports tumbled -18.1% in February after expanding +10.6% in January missing economist estimates of +6.8% by a wide margin. Some are questioning whether the data was distorted by the Lunar New Year holiday and fake invoicing that boosted the data a year earlier. The news sent Asian markets lower, while the Shanghai Composite fell -2.9%.

Upgrades:

Allegheny Technologies (ATI): ReaserchTeam raised their rating from Reduce to Hold.

Archer Daniels Midland (ADM): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $42.00 to $50.00.

Avery Dennison (AVY): ReaserchTeam raised their rating from Reduce to Hold.

Bank of New York (BK): ReaserchTeam raised their rating from Reduce to Hold.

Big Lots (BIG): FBR Capital raised their rating from Market Perform to Outperform and raised their target price from $35.00 to $45.00. Pre-market: 36.36 +0.39 (1.08%)

Coca-Cola (KO): ReaserchTeam raised their rating from Reduce to Hold. Pre-market: 38.52 -0.03 (-0.08%)

DreamWorks Animation (DWA): B. Riley raised their rating from Neutral to Buy and raised their target price from $32.00 to $37.00. Pre-market: 29.95 +0.49 (1.66%)

National Oilwell (NOV): ReaserchTeam raised their rating from Hold to Accumulate.

Qualcomm (QCOM): ReaserchTeam raised their rating from Hold to Accumulate. Pre-market: 76.94 +0.15 (0.20%)

W.P. Carey (WPC): ReaserchTeam raised their rating from Reduce to Hold.

United States Steel (X): Nomura raised their rating from Neutral to Buy. Pre-market: 24.75 -0.09 (-0.36%)

Downgrades:

D.R. Horton (DHI): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $27.00 to $26.00.

International Paper (IP): ResearchTeam lowered their rating from Hold to Reduce.

Royal Caribbean (RCL): ResearchTeam lowered their rating from Accumulate to Hold.

Staples (SPLS): BB&T lowered their rating from Buy to Hold.

Coverage Initiated:

Laboratory Corp. (LH): Piper Jaffrey initiated coverage with a Neutral rating and target price of $91.00.

Quest Diagnostics (DGX): Piper Jaffrey initiated coverage with a Neutral rating and target price of $51.00.

Markets: 
Futures at 8:03: Dow -0.11%. S&P -0.11%. Nasdaq +0.01%. Crude -1.22% to $101.33. Gold +0.06% to $1339.10. U.S. 10 Year -3/32 to 2.797%.

Europe: London +0.3%. Paris +0.9%. Frankfurt -0.1%. 

Asia: Japan -1% to 15120. Hong Kong -1.8% to 22265. China -2.9% to 1999. India +0.3% to 21983. 

#TopWealthManager #RLPaler #WallStreet #AnalystsRatings #EarningReports #FinancialPlanning 

Morning Coffee Pre-Market Wall Street News

Obama Delays Military Strike. In a televised speech last night President Obama has asked Congress to delay the vote on approving military strikes against Syria. Earlier in the week Sec. John Kerry floated an idea to have Syria give up their chemical weapon and Russia’s Vladimir Putin took the idea to Syria where their leaders agreed to the idea.  Many analysts are saying that all the delays have made the U.S. look weak and has allowed Syria to hide their chemical stock piles.  They are also questioning whether the agreement is just a stalling tactic similar to those being used by Iran to hide their nuclear weapons program.  

Upgrades:

ConAgra Food (CAG): Goldman Sachs raised their rating from Buy to Neutral and placed a target price of $42.00 on the company.

Ingersoll-Rand (IR): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $53.00 to $72.00. Pre-market: 64.90 +0.09 (0.14%)

Kennametal (KMT): Global Hunter raised their rating from Buy to Neutral and raised their target price from $37.00 to $55.00.

Morgan Stanley (MS): UBS raised their rating from Buy to Neutral and raised their target price from $28.00 to $33.00.

Nokia (NOK): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $5.00 to $7.00.

Revlon Inc. (REV): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $25.00 to $31.00.

RF Micro Devices (RFMD): Raymond James raised their rating from Market Perform to Strong Buy.

Skyworks Solutions (SWKS): Raymond James raised their rating from Outperform to Strong Buy.

Snap-On Tools (SNA): Janney Capital raised their rating from Neutral to Buy.

Downgrades:

Apple (AAPL): UBS lowered their rating from Buy to Neutral and lowered their target price from $560.00 to $520.00. Pre-market: 467.33 -27.31 (-5.52%)

Apple (AAPL): Credit Suisse lowered their rating from Outperform to Neutral and maintained their target price of $525.00. Pre-market: 467.33 -27.31 (-5.52%)

BlackRock (BLK): UBS lowered their rating from Buy to Neutral and lowered their target price from $310.00 to $280.00.

Lions Gate Entertainment (LGF): Cowen lowered their rating from Outperform to Market Perform and lowered their target price from $36.00 to $32.00.

Proctor Gamble (PG): SunTrust lowered their rating from Buy to Neutral and lowered their target price from $88.00 to $80.00.

Rockwell Automation (ROK): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $106.00 to $91.00. Pre-market: 103.55 -0.47 (-0.45%)

Take-Two Interactive (TTWO): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 17.85 -0.29 (-1.60%)

Coverage Initiated:

W.P. Carey (WPC): BMO Capital initiated coverage with an Outperform rating and target price of $74.00.

Markets: 
Futures at 8:06: Dow +0.01%. S&P -0.07%. Nasdaq -0.38%. Crude -0.03% to $107.37. Gold -0.19% to $1361.40. U.S. 10 Year +7/32 2.946%

Europe: London -0.09%. Paris -0.10%. Frankfurt +0.55%. 

Asia: Japan +0.01% at 14425. Hong Kong -0.17% to 22937. China +0.15% to 2241. India +0.01% to 19997.