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MORNING COFFEE

120 views  2012-07-27 06:54

Facebook Reports Earnings, Shares Dive On News. Facebook (FB) reported EPS of $0.12 beating Wall Street estimates by a penny, while revenue rose 32% to $1.18 billion.  When stock-based compensation, income tax and payroll tax adjustment are included the company lost -$157 million or -$0.08 per share, compared with earnings of $240 million a year ago. The company also didn’t provide future guidance which concerned traders about the company’s slower growth. Pre-market: 23.35 -3.49 (-13.02%)

Upgrades

Sprint Nextel (S): UBS raised their rating from Neutral to Buy and raised their target price from $2.50 to $6.00. Pre-market: 4.04 -0.01 (-0.25%)

Downgrades

General Electric (GE): Bernstein lowered their rating from Outperform to Market Perform and placed a target price of $22.00 on the company. Pre-market: 20.51 -0.05 (-0.24%)

Exxon Mobile (XOM): UBS lowered their rating from Buy to Neutral and placed a target price of $90.00 on the company. Pre-market: 86.25 -0.27 (-0.31%)

Unilever N.V. ADS (UN/UL): Natixis lowered their rating from Neutral to Reduce. UN Pre-market: 34.26 -0.02 (-0.06%), UL Pre-market: 35.28 -0.12 (-0.34%)

Unilever N.V. ADS (UN/UL): Societe Generale lowered their rating from Hold to Sell. UN Pre-market: 34.26 -0.02 (-0.06%), UL Pre-market: 35.28 -0.12 (-0.34%)

Boston Scientific (BSX): Northland Securities lowered their rating from Outperform to Market Perform and lowered their target price from $7.50 to $5.50. Pre-market: 5.00 +0.03 (0.60%)

Starbucks (SBUX): Robert W. Baird lowered their rating from Outperform to Market Perform and lowered their target price from $65.00 to $50.00. Pre-market: 47.10 -5.30 (-10.12%)

Coinstar (CSTR): Pacific Crest Baird lowered their rating from Outperform to Sector Perform. Pre-market: 51.20 -8.02 (-13.54%)

Coverage Reiterated/Price Target Changed 

Coinstar (CSTR): Compass Point reiterated their Neutral rating and lowered their target price from $70.00 to $60.00. Pre-market: 51.20 -8.02 (-13.54%)

Celgene (CELG): Rodman & Renshaw reiterated their Market Outperform rating and raised their target price from $76.00 to $79.00.

Earning Reports

Amazon.com (AMZN): Reported EPS of $0.01 in-line with estimates. Pre-market: 222.50 +2.49 (1.13%)

Amgen (AMGN): Reported EPS of $1.83 beating estimates by +$0.29.

Chubb (CB): Reported EPS of $1.37 beating estimates by +$0.23.

Coinstar (CSTR): Reported EPS of $1.25 beating estimates by +$0.06. Pre-market: 51.20 -8.02 (-13.54%)

Facebook (FB): Reported EPS of $0.12 beating estimates by +$0.01. Pre-market: 23.35 -3.49 (-13.02%)

NETGEAR (NTGR): Reported EPS of $0.64 missing estimates by -$0.04. Pre-market: 28.50 -6.50 (-18.57%)

Starbucks (SBUX): Reported EPS of $0.43 missing estimates by -$0.02. Pre-market: 47.10 -5.30 (-10.12%)

Triumph Group (TGI): Reported EPS of $1.48 beating estimates by +$0.21.

Markets: 
Futures at 8:13: Dow +0.35%. S&P +0.41%. Nasdaq +0.49%. Crude +0.39% to $89.74. Gold +0.76% to $1627.30.

Europe: London +0.24%. Paris +1.36%. Frankfurt +0.48%. 

Asia: Japan +1.46%. Hong Kong +2.02%. China +0.13%. India +1.20%. 

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