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MORNING COFFEE

196 views  2012-10-08 07:16   Tagseconomic  overseas  initial  growth  white 

U.S. Stock Futures Fall After World Bank Cuts Growth Forecast.  U.S. Stock futures and overseas markets fell after the World Bank cut is economic growth forecast for East Asia and the Pacific region.  Additionally they said the slowdown in China could worsen.  The county’s growth has slowed as the Eurozone debt crisis has caused the Euozone’s economy to stall.  Wall Street analysts are also a little jumpy ahead out the third quarter earnings season.  Earnings season will officially begin on Tuesday with Alcoa (AA) reporting their earnings.  Consensus estimates are for the company to report EPS of $0.01 versus $0.15 a year ago. Pre-market: 9.01 -0.08 (-0.88%)

Upgrades

BlackRock (BLK): Citigroup raised their rating from Neutral to Buy and raised their target price from $190.00 to $220.00. Pre-market: 187.93 +0.54 (0.29%)

Constellation Brands (STZ): HSBC Securities raised their rating from Underweight to Neutral.

Downgrades

Facebook (FB): BTIG lowered their rating from Neutral to Sell and placed a target price of $16.00 on the company. Pre-market: 20.37 -0.54 (-2.58%)

Abercrombie & Fitch (ANF): CLSA lowered their rating from Outperform to Buy and placed a target price of $39.00 on the company. Pre-market: 32.33 -0.33 (-1.01%)

Texas Instruments (TXN): ISI Group lowered their rating from Buy to Hold and lowered their target price from $37.00 to $38.00.

Panera Bread (PNRA): BMO Capital lowered their rating from Outperform to Market Perform and placed a target price of $180.00 on the company.

Walt Disney (DIS): Caris & Company lowered their rating from Above Average to Average.

Sonoco Products (SON): DA Davidson lowered their rating from Buy to Neutral and lowered their target price from $38.00 to $33.00.

Coverage Initiated

DirecTV (DTV): Pacific Crest initiated coverage with a Sector Perform rating and target price of $54.00.

Markets: 
Futures at 7:43: Dow -0.33%. S&P -0.37%. Nasdaq -0.44%. Crude -1.40% to $88.62. Gold -0.48% to $1772.20.

Europe: London -0.68%. Paris -0.99%. Frankfurt -1.21%. 

Asia: Japan closed. Hong Kong -0.89% to 20825. China -0.56% to 2074. India -1.21% to 18727. 

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