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MORNING COFFEE

202 views  2012-10-16 07:19   Tagsbackground  reported  company  profit  white 

UnitiedHealth Profit Surge. UnitedHealth's (UNH) reported that their Q3 net profit surged 28% to $1.6 billion.  The company also reported that their Q3 EPS came in at $1.50 beating Wall Street estimates of only $1.34 by 12%.  Year-ago EPS was only $1.17.  Revenues at the company rose to $27.3 billion, an 8% increase. UnitedHealth added 670,000 new customers in the quarter.  The company also raised it 2012 EPS outlook to $5.20-$5.25, above Wall Street’s consensus of $5.10. Pre-market: 58.24 +0.75 (1.30%)

Upgrades

Sprint Nextel (S): Robert W. Baird raised their rating from Underperform to Neutral and raised their target price from $4.00 to $6.00. Pre-market: 5.73 +0.04 (0.70%)

Sprint Nextel (S): Bernstein raised their rating from Underperform to Market Perform and placed a target price of $6.00 on the company. Pre-market: 5.73 +0.04 (0.70%)

Citigroup (C): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $35.00 to $44.00. Pre-market: 35.55 -1.11 (-3.03%)

Kroger (KR): Jefferies raised their rating from Hold to Buy and raised their target price from $25.00 to $30.00.

Fossil (FOSL): Citigroup raised their rating from Neutral to Buy and placed a target price of $100.00 on the company. Pre-market: 87.50 +2.41 (2.83%)

LG Display Co. (LPL): CLSA raised their rating from Underperform to Outperform.

Downgrades

Sprint Nextel (S): Hudson Square Research lowered their rating from Buy to Hold. Pre-Market: 5.73 +0.04 (0.70%)

UPS (UPS): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $84.00 to $80.00.

Expeditors International (EXPD): Robert W. Baird lowered their rating from Outperform to Neutral and placed a target price of $40.00 on the company.

Clearwire (CLWR): DA Davidson lowered their rating from Buy to Neutral and placed a target price of $3.00 on the company. Pre-market: 2.19 -0.50 (-18.59%)

Coverage Initiated

Halliburton (HAL): Credit Suisse initiated coverage with an Outperform rating and target price of $44.00. Pre-market: 34.15 +0.31 (0.92%)

Schlumberger (SLB): Credit Suisse initiated coverage with a Neutral rating and target price of $68.00. Pre-market: 73.02 +0.26 (0.36%)

Baker Hughes (BHI): Credit Suisse initiated coverage with a Neutral rating and target price of $40.00.

Earning Reports:

WD-40 (WDFC): Reported EPS of $0.56 missing estimates by -$0.14. After Hours: 46.42 -4.92 (-9.58%)

Coca-Cola (KO): Reported EPS of $0.51 in-line with estimates Pre-market: 38.25 +0.12 (0.31%).

Domino’s Pizza (DPZ): Reported EPS of $0.43 beating estimates by +$0.02. Pre-market: 39.50 +1.26 (3.29%)

Forest Labs (FRX): Reported EPS of $0.08 beating estimates by +$0.06.

Goldman Sachs (GS): Reported EPS of $2.85 beating estimates by +$0.58. Pre-market: 125.25 +0.75 (0.60%)

Johnson & Johnson (JNJ): Reported EPS of $1.25 beating estimates by +$0.04. Pre-market: 69.26 +0.66 (0.96%)

Mattel (MAT): Reported EPS of $1.04 beating estimates by +$0.05. Pre-market: 36.90 +1.48 (4.18%)

PNC Financial (PNC): Reported EPS of $1.64 beating estimates by +$0.04. Pre-market: 61.80 -1.13 (-1.80%)

State Street Corp (STT): Reported EPS of $0.99 beating estimates by +$0.03.

UnitedHealth (UNH): Reported EPS of $1.50 beating estimates by +$0.16. Pre-market: 58.24 +0.75 (1.30%)

Markets: 
Futures at 7:50: Dow +0.43%. S&P +0.54%. Nasdaq +0.47%. Crude +0.20% to $92.04. Gold +0.38% to $1744.30.

Europe: London +0.99%. Paris +1.02%. Frankfurt +1.21%. 

Asia: Japan +1.44% to 8701. Hong Kong +0.28% to 21207. China 0.00% to 2099. India -0.73% to 18578. 

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