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MORNING COFFEE

227 views  2012-10-05 07:24   Tagsbackground  released  morning  white  style 

September Employment Data Surprises Market. Employment data for September were released this morning and surprised Wall Street. Economists had estimated that 120,000 new nonfarm payrolls were added in the month of September and that the Unemployment Rate would come in at 8.1%.  The Labor Department in their report said that only 115,000 new jobs were created in September.  While the unemployment rate fell to 7.8%. At first glance the fall in the unemployment rate seems to be a good thing, but Wall Street is mistrusting the report that was released just five weeks prior to the election. Looking deeper into the numbers with only 114,000 new jobs created and 873,000 people finding work, the fall in the unemployment rate does not match up.  Additionally, of the 875,000 people that found work over 600,000 of those people only found part-time work.  Since World War II, President Reagan was the only President to win re-election with unemployment above 6%.

UnitedHealth Looking to Acquire Amil Participacoes.  Reports say that UnitedHealth (UNH) is looking to acquire a part or a 100% of Brazilian insurer and hospital operator Amil Participacoes (AMPIF).  The deal if completed would allow UnitedHealth to tap a growing private-insurance market in Brazil.  Pre-market: 57.95 -0.02 (-0.03%)

Upgrades

Automatic Data Processing (ADP): Goldman Sach raised their rating from Neutral to Buy and raised their target price from $53.00 to $68.00. Pre-market: 59.22 +0.32 (0.54%)

Buffalo Wild Wings (BWLD): Wedbush raised their rating from Neutral to Outperform and raised their target price from $78.oo to $100.00. After Hours: 87.23 0.00 (0.00%)

Family Dollar Stores (FDO): Credit Suisse raised their rating from Neutral to Outperform and placed a target price of $81.00 on the company. After Hours: 68.70 +0.05 (0.07%)

Thermo Fisher (TMO): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $55.00-$60.00 to $70.00-$75.00.

Downgrades

Autoliv (ALV): UBS lowered their rating from Neutral to Sell. Pre-market: 64.74 -0.48 (-0.74%)

Zanga (ZNGA): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $6.00 to $3.00. Pre-market: 2.19 -0.63 (-22.20%)

Hewlett-Packard (HPQ): Argus lowered their rating from Buy to Hold. Pre-market: 14.77 -0.17 (-1.14%)

Hewlett-Packard (HPQ): Sterne Agee lowered their rating from Buy to Neutral. Pre-market: 14.77 -0.17 (-1.14%)

TD Ameritrade (AMTD): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 15.85 -0.10 (-0.63%)

Coverage Initiated

USG Corp (USG): Robert W. Baird initiated coverage with an Outperform rating and a target price of $27.00.

RF Micro Devices (RFMD): Lazard Capital initiated coverage with a Neutral rating. After Hours: 3.87 0.00 (0.00%)

Earning Reports

Constellation Brands (STZ): Reported EPS of $0.74 beating estimates by +$0.17. Pre-market: 36.00 +1.28 (3.69%)

Markets: 
Futures at 6:36: Dow +0.13%. S&P +0.09%. Nasdaq +0.24%. Crude -0.93% to $90.85. Gold -0.24% to $1792.50.

Europe: London +0.46%. Paris +1.02%. Frankfurt +0.76%. 

Asia: Japan +0.44% to 8863.3. Hong Kong +0.50% to 21087. China closed. India -0.63% to 18938. 

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