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Morning Coffee Pre-Market Wall Street News

266 views  2013-01-04 08:46

Traders Wait for Jobs Report. Stock futures are somewhat flat ahead of the December nonfarm payroll data. Economists are expecting that 160,000 jobs were created vs only 146,000 in November.  The unemployment rating is expected to be unchanged at 7.7%.

Upgrades

Johnson & Johnson (JNJ): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $75.00 to $82.00. Pre-market: 71.39 +0.65 (0.92%)

Hormel Foods (HRL): CLSA raised their rating from Underperform to Outperform and raised their target price from $32.00 to $37.00. Pre-market: 33.59 +0.39 (1.17%)

Textron (TXT): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $26.00 to $30.00.

Under Armour (AU): Credit Suisee raised their rating from Neutral to Outperform and raised their target price from $57.00 to $59.00.

Aruba Networks (ARUN): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $27.00 on the company. Pre-market: 21.64 +0.44 (2.08%)

Mattel (MAT): Needham raised their rating from Hold to Buy.

Cardinal Health (CAH): Mizuho raised their rating from Neutral to Buy and raised their target price from $44.00 to $46.00.

Downgrades

Microsoft (MSFT): Argus lowered their rating from Buy to Hold. Pre-market: 27.27 +0.02 (0.07%)

Illumina (ILMN): Wedbush lowered their rating from Outperform to Neutral. Pre-market: 55.50 -0.05 (-0.09%)

AmerisourceBergen (ABC): Mizuho lowered their rating from Buy to Neutral and placed a target price of $45.00 on the company.

JPMorgan Chase (JPM): Goldman Sachs lowered their rating from Conviction Buy to Buy and placed a target price of $52.00 on the company. Pre-market: 44.42 -0.15 (-0.34%)

Wells Fargo (WFC): Goldman Sachs lowered their rating from Buy to Neutral and placed a target price of $40.00 on the company. Pre-market: 34.59 -0.17 (-0.49%)

Abbott Labs (ABT): Deutsche Bank lowered their rating from Buy to Hold. Pre-market: 33.35 +0.08 (0.24%)

Coverage Initiated

National Oilwell (NOV): Macquarie initiated coverage with an Outperform rating and target price of $82.00.

Gilead Sciences (GILD): Robert W. Baird resumed coverage with an Outperform rating and target price of $86.00. Pre-market: 74.95 0.00 (0.00%)

Earning Reports

Finish Line (FL): Reported EPS of $0.00 missing estimates by -$0.10. Pre-market: 31.85 -0.65 (-2.00%)

Mosaic (MOS): Reported EPS of $1.05 beating estimates by +$0.07. Pre-market: 57.50 +0.73 (1.29%)

Markets: 
Futures at 7:00: Dow +0.11%. S&P +0.20%. Nasdaq +0.14%. Crude -0.97% to $91.02. Gold -2.01% to $1640.00.

Europe: London +0.35%. Paris -0.21%. Frankfurt -0.05%. 

Asia: Japan +2.82% to 10688. Hong Kong -0.29% to 23331. China +0.35% to 2277. India +0.10% to 19784. 

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