CBO Says Obamacare Leads to Job Loss

CBO Says Obamacare Leads to Job Loss. According to the nonpartisan Congressional Budget Office, Obamacare will lead to a sharp decline in the number of hours worked equating to 2 million full-time jobs by 2017. We have already seen companies hiring part time workers instead of full time workers due to the law. Now the CBO says the law will cause some lower income workers to limit their hours to avoid losing federal subsidies provided by Obamacare.  House of Representatives Speaker John Boehner said in a statement. "The president's healthcare law creates uncertainty for small businesses, hurts take-home pay, and makes it harder to invest in new workers. The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse."

Upgrades:

Archer Daniels Midland (ADM): Scotia Capital raised their rating from Sector Perform to Outperform. Pre-market: 38.47 +0.24 (0.63%)

Archer Daniels Midland (ADM): Citigroup raised their rating from Neutral to Buy and placed a target price of $45.00 on the company. Pre-market: 38.47 +0.24 (0.63%)

Becton Dickinson (BDX): Raymond James raised their rating from Underperform to Market Perform.

BlackRock (BLK): Susquehanna raised their rating from Neutral to Positive and raised their target price from $321.00 to $348.00. Pre-market: 289.74 -0.01 (0.00%)

Church & Dwight (CHD): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $65.00 to $71.00.

Zillow Inc. (Z): CRT Capital raised their rating from Fair Value to Buy. Pre-market: 78.76 +0.15 (0.19%)

Downgrades:

Eaton Corp (ETN): MKM Partners lowered their rating from Buy to Neutral. Pre-market: 67.58 -1.07 (-1.56%)

Sirius XM (SIRI): Wunderlich lowered their rating from Buy to Hold and lowered their target price from $4.20 to $3.80.

Coverage Initiated:

Deckers Outdoors (DECK): B Riley initiated coverage with a Buy rating and target price of $98.00. Pre-market: 75.58 -0.17 (-0.22%)

Laboratory Corp. (LH): Maxim initiated coverage with a Buy rating and target price of $110.00.

Earning Reports:

AFLAC (AFL): Reported EPS of $1.40 beating estimates by +$0.01. After Hours: 62.00 +0.53 (0.86%)

Cognizant Tech (CTSH): Reported EPS of $1.15 in-line with estimates. Pre-market: 92.25 -4.76 (-4.91%)

Estee Lauder (EL): Reported EPS of $1.09 beating estimates by +$0.03. Pre-market: 69.40 +0.21 (0.30%)

GlaxoSmithKline (GSK): Reported EPS of $0.30 in-line with estimates. Pre-market: 52.05 +1.15 (2.26%)

Humana (HUM): Reported EPS of -$0.19 missing estimates by -$1.12.

Merck (MRK): Reported EPS of $0.88 missing estimates by -$0.01. Pre-market: 54.28 +0.77 (1.44%)

Time Warner (TWX): Reported EPS of $1.17 beating estimates by +$0.01. Pre-market: 62.50 +0.10 (0.16%)

Markets: 

Futures at 7:55: Dow -0.16%. S&P -0.27%. Nasdaq -0.21%. Crude +0.58% to $97.75. Gold +0.62% to $1259.00. U.S. 10 Year +6/32 to 2.612%.

Europe: London +0.27%. Paris -0.05%. Frankfurt -0.17%. 

Asia, Japan +1.23% to 14180. Hong Kong -0.60% to 21269. China closed. India +0.24% to 20261. 

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

World Markets Worry about Fed. World markets are lower as traders wait for the Fed to announce the outcome of their latest FOMC meeting. Traders don’t expect the Fed to raise interest rates or to begin tapering, but they will be watching for any indication as to when this could begin.

Upgrades:

Adobe Systems (ADBE): Argus raised their rating from Hold to Buy and placed a target price of $71.00 on the company.

Facebook (FB): Susquehanna raised their rating from Neutral to Positive and raised their target price from $52.00 to $68.00.

Hewlett-Packard (HPQ): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $35.00 on the company.

iRobot (IRBT): Raymond James JPMorgan raised their rating from Market Perform to Strong Buy and placed a target price of $39.00 on the company.

Medtronics (MDT): Goldman Sachs raised their rating from Neutral to Buy and placed a target price of $66.00 on the company.

Downgrades:

GlaxoSmithKline (GSK): Deutsche Bank lowered their rating from Buy to Hold.

KB Home (KBH): Compass Point lowered their rating from Neutral to Sell.

D.R. Horton (DHI): Compass Point lowered their rating from Buy to Neutral.

Twitter (TWTR): Atlantic Equities lowered their rating from Overweight to Neutral and placed a target price of $50.00 on the company.

Coverage Initiated:

Archer Daniels Midland (ADM): Macquarie initiated coverage with an Outperform rating and target price of $49.00.

Dynergy (DYN): Imperial Capital initiated coverage with an Outperform rating and target price of $24.00.

Mosaic (MOS): Macquarie initiated coverage with an Outperform rating and target price of $54.00.

Zillow (Z): SunTrust initiated coverage with a Buy rating and target price of $95.00.

Earning Reports:

FactSet (FDS): Reported EPS of $1.19 missing estimates by -$0.03.

Markets: 
Futures at 8:35: Dow +0.22%. S&P +0.03%. Nasdaq +0.12%. Crude +0.31% to $97.79. Gold -0.83% to $1233.90. U.S. 10 Year 0/32 to 2.880%.

Europe: London -0.30%. Paris -0.79%. Frankfurt -0.18%. 

Asia: Japan +0.83% to 15279. Hong Kong -0.20% to 23069. China -0.45% to 2151. India -0.23% to 20612. 

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

Twitter to Price IPO Shares.

Twitter to Price IPO Shares. The microblogging Web site Twitter (TWTR) is expected to price its IPO today with shares to begin trading tomorrow on the NYSE. The company raised the price range of the IPO shares to $23-$25 a share. The company is expected to sell 70M shares, which would generate $1.61-1.75B for the company and have a market cap of $12.5-13.6B.

Upgrades:

Cardinal Health (CAH): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $73.00 on the company.

Louisiana-Pacific (LPX): TD Securities raised their rating from Reduce to Hold.

T-Mobile (TMUS): Canaccord raised their rating from Hold to Buy and raised their target price from $25.00 to $33.00.

Downgrades:

Advisory Board (ABCO): Raymond James lowered their rating from Outperform to Market Perform.

Buffalo Wild Wings (BWLD): Miller Tabak lowered their rating from Buy to Hold.

Tenet Healthcare (THC): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $50-$55 to $41-$47.

Unilever (UN/UL): Normura lowered their rating from Buy to Neutral.

Coverage Initiated:

Morningstar (MORN): Keefe Bruyette initiated coverage with a Market Perform rating and target price of $91.00.

Earning Reports:

Carlyle (CG): Reported EPS of $0.51 missing estimates by -$0.08. Pre-market: 29.12 -1.01 (-3.35%)

Humana (HUM): Reported EPS of $2.31 beating estimates by +$0.14. Pre-market: 91.50 -2.45 (-2.61%)

Magna (MGA): Reported EPS of $1.39 beating estimates by +$0.04.

Polo Ralph Lauren (RL): Reported EPS of $2.23 beating estimates by +$0.03. Pre-market: 179.50 +8.31 (4.85%)

Sturm Ruger (RSG): Reported EPS of $1.44 missing estimates by -$0.02.

Tesla Motors (TSLA): Reported EPS of $0.12 beating estimates by +$0.02. Pre-market: 154.74 -22.07 (-12.48%)

Time Warner (TWX): Reported EPS of $1.01 beating estimates by +$0.12. Pre-market: 68.60 +0.37 (0.54%)

Zillow (Z): Reported EPS of -$0.05 beating estimates by +$0.02. Pre-market: 87.00 +4.69 (5.70%)

Markets: 
Futures at 6:20: Dow +0.5%. S&P +0.6%. Nasdaq +0.4%. Crude +0.8% to $94.11. Gold +0.7% to $1317.30. 

Europe: London +0.1%. Paris +0.9%. Frankfurt +0.5%. 

Asia: Japan +0.8% to 14337. Hong Kong 0.0% at 23037. China -0.8% to 2140. India -0.4% to 20895. 

#RLPaler #WallStreet #TwitterIPO #WealthManagement #EarningReports #AnalystsRatings

Morning Coffee Pre-Market Wall Street News

Facebook Users Upset Over Privacy. Once again Facebook (FB) users are upset once they learned about the company newly proposed privacy language. The new language would allow for the indiscriminate use of members' information, likeness, and user-generated content for advertising purposes. Privacy groups are warning that the company is attempting to "routinely use the images and names of users for commercial advertising without consent. The Electronic Privacy Information Center, Center for Digital Democracy, Consumer Watchdog, Patient Privacy Rights, U.S. PIRG, and the Privacy Rights Clearinghouse have all voiced their concerns to the FTC in a letter.

Upgrades:

Diego PLC (DEO): Citigroup raised their rating from Neutral to Buy. Pre-market: 124.21 +1.13 (0.92%)

Ericsson (ERIC): Credit Suisse raised their rating from Neutral to Outperform. Pre-market: 13.00 +0.46 (3.67%)

Korn/Ferry (KFY): RW Baird raised their rating from Neutral to Outperform and raised their target price from $20.00 to $24.00. Pre-market: 19.72 +1.00 (5.34%)

Moody’s Corp (MCO): Lazard Capital raised their rating from Neutral to Buy and placed a target price of $74.00 on the company.

Stryker (SYK): Credit Suisse raised their rating from Neutral to Outperform and maintained their target price of $77.00. Pre-market: 68.50 +0.71 (1.05%)

Coverage Initiated:

Arch Coal (ACI): Macquarie initiated coverage with a Neutral rating and target price of $4.50. Pre-market: 4.78 +0.05 (1.06%)

Brinker International (EAT): Wunderlich initiated coverage with a Hold rating and target price of $44.00.

Cracker Barrel Old Country Store (CBRL): Wunderlich initiated coverage with a Hold rating and target price of $106.00. Pre-market: 98.71 0.00 (0.00%)

Darden Restaurants (DRI): Wunderlich initiated coverage with a Hold rating and target price of $50.00. Pre-market: 47.43 +0.57 (1.22%)

Jack in the Box (JACK): Wunderlich initiated coverage with a Buy rating and target price of $46.00.

Peabody Energy (BTU): Macquarie initiated coverage with a Neutral rating and target price of $18.00. Pre-market: 18.20 +0.20 (1.11%)

Under Armour (UA): Jefferies initiated coverage with a Hold rating and target price of $71.00. Pre-market: 77.35 +0.46 (0.60%)

Zillow (Z): Deutsche Bank initiated coverage with a Hold rating and target price of $83.00

Earning Reports:

Korn/Ferry (KFY): Reported EPS of $0.33 beating estimates by +$0.03. Pre-market: 19.72 +1.00 (5.34%)

Smithfield Foods (SFD): Reported EPS of $0.27 missing estimates by -$0.16. Pre-market: 33.88 -0.08 (-0.24%)

Smith &Wesson (SWHC): Reported EPS of $0.45 beating estimates by +$0.09. Pre-market: 10.85 -0.63 (-5.49%)

Zumiez (ZUMZ): Reported EPS of $0.20 beating estimates by +$0.02. Pre-market: 24.05 -1.24 (-4.90%)

Markets: 
Futures at 8:31: Dow +0.34%. S&P +0.39%. Nasdaq +0.30%. Crude +0.17% to $109.17. Gold +0.88% to $1386.00. U.S. 10 Year +31/32 2.881%.

Europe: London -0.16%. Paris -0.12%. Frankfurt +0.53%. 

Asia: Japan -1.45% to 13860. Hong Kong +0.10% to 22621. China +0.83% to 2139. India +1.53% to 19263.