Welcome to GuruFocus Investment Space.

Please Join Us to share your investment ideas with more than 100,000 GuruFocus users.

Join      Log in

MORNING COFFEE

158 views  2012-08-10 07:44   Tagsinitial  China  white  trade  style 

China sends Stocks Lower. World markets are lower after China’s trade surplus fell well below economist estimates.  For July China’s trade surplus came in at $25.1 billion falling from Junes $31.7 billion.  Export growth fell significantly to 1% from 11.3% year over year. Imports to the country declined to 4.7%. The results left traders believing that Chinas economy is slowing and has been impacted by the EU debt crisis.

Upgrades

Sanofi ADS (SNY): Cowen raised their rating from Neutral to Outperform. Pre-market: 41.19 -0.24 (-0.58%)

EOG Resources (EOG): Miller Tabak raised their rating from Neutral to Buy. Pre-market: 108.70 -0.71 (-0.65%)

Downgrades

GlaxoSmithKline (GSK): Cowen lowered their rating from Outperform to Neutral. Pre-market: 46.26 -0.43 (-0.92%)

FedEx (FDX): Avondale lowered their rating from Outperform to Market Perform. Pre-market: 88.20 -0.46 (-0.52%)

Big Lots (BIG): JPMorgan Chase lowered their rating from Neutral to Underweight and lowered their target price from $41.00 to $34.00. Pre-market: 40.35 -0.96 (-2.32%)

Brinker Intl (EAT): Raymond James lowered their rating from Outperform to Market Perform.

Rosetta Resources (ROSE): Global Hunter Securities lowered their rating from Buy to Accumulate and lowered their target price from $63.00 to $52.00. Pre-market: 42.26 -1.99 (-4.50%)

Polo Ralph Lauren (RL): Argus lowered their rating from Buy to Hold. Pre-market: 147.28 -1.15 (-0.77%)

VeriSign (VRSN): Robert W. Baird lowered their rating from Outperform to Neutral. Pre-market: 45.96 -0.64 (-1.37%)

Robbins & Myers (RBN): Capstone Investments lowered their rating from Buy to Hold. Pre-market: 59.48 -0.15 (-0.25%)

Robbins & Myers (RBN): Global Hunter Securities lowered their rating from Buy to Neutral. Pre-market: 59.48 -0.15 (-0.25%)

Robbins & Myers (RBN): Stifel Nicolaus lowered their rating from Buy to Hold. Pre-market: 59.48 -0.15 (-0.25%)

Coverage Initiated

Cisco Systems (CSCO): Needham initiated coverage with a Hold rating. Pre-market: 17.49 -0.21 (-1.19%)

Aeropostale (ARO): Lazard Capital initiated coverage with a Neutral rating. Pre-market: 13.11 -0.11 (-0.83%)

Earning Reports

DeVry (DV): Reported EPS of $0.47 beating estimates by +$0.03. Pre-market: 19.22 -0.65 (-3.27%)

Lions Gate Entertainment (LGF): Reported EPS of -$0.33 missing estimates by -$0.54. Pre-market: 13.02 -0.23 (-1.74%)

NVIDIA (NVDA): Reported EPS of $0.27 beating estimates by +$0.05. Pre-market: 15.16 +0.45 (3.06%)

JC Penney (JCP): Reported EPS of -$0.37 missing estimates by -$0.30. Pre-market: 24.06 +1.96 (8.87%)

Markets: 
Futures at 9:07: Dow -0.30%. S&P -0.34%. Nasdaq -0.27%. Crude -1.11% to $92.35. Gold -0.17% to $1617.70.

Europe: London -0.20%. Paris -0.95%. Frankfurt -0.69%. 

Asia: Japan -0.97%. Hong Kong -0.66%. China -0.24%. India -0.02%. 

Comments Comments (0 )



Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK