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Morning Coffee Pre-Market Wall Street News

178 views  2013-01-09 08:03   Tagsbackground  company  report  white 

Alcoa Kicks Off Earnings Season. Alcoa (AA) kicked off the Q4 earnings season by reporting a good earnings report. Profits at the company rose to $242 million from a loss of $191 million a year ago. Earning at the company came in at $0.06 in-line with Wall Street estimates Revenues at the company declined 1.7% but beat estimates coming in at $5.9 billion. The company also forecast that global aluminum demand will grow 7% in 2013, up from 6% in 2012. Pre-market: 9.29 +0.19 (2.09%)

Upgrades

DISH Network (DISH): Wunderlich raised their rating from Hold to Buy and raised their target price from $29.00 to $42.00. Pre-market: 36.08 +0.11 (0.31%)

Mattel (MAT): MKM Partners raised their rating from Neutral to Buy and placed a target price of $41.00 on the company. After Hours: 35.71 +0.01 (0.03%)

KeyCorp (KEY): Oppenheimer raised their rating from Perform to Outperform and placed a target price of $11.00 on the company. Pre-market: 9.05 +0.09 (1.00%)

Visa (V): Goldman Sachs raised their rating from Buy to Conviction Buy and raised their target price from $160.00 to $188.00. Pre-market: 161.22 +1.86 (1.17%)

MasterCard (MA): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $500.00 to $575.00. Pre-market: 526.00 +8.18 (1.58%)

Cognizant Technology (CTCH): Goldman Sachs raised their rating from Sell to Neutral and raised their target price from $60.00 to $72.00.

Downgrades

Bank of America (BAC): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $12.00 to $11.00. Pre-market: 11.86 -0.12 (-1.00%)

Comerica (CMA): Oppenheimer lowered their rating from Outperform to Perform. Pre-market: 31.64 -0.29 (-0.91%)

McDonalds (MCD): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 90.44 -0.50 (-0.55%)

Western Union (WU): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $14.00 to $12.00.

Coverage Initiated

Qualcomm (QCOM): Topeka initiated coverage with a Buy rating and target price of $75.00. Pre-market: 64.10 +0.19 (0.30%)

AFLAC (AFL): Deutsche Bank initiated coverage with a Hold rating and target price of $56.00.

NASDAQ (NDAQ): Compass Point initiated coverage with a Neutral rating and target price of $55.00.

Intercontinental Exchange (ICE): Compass Point initiated coverage with a Buy rating and target price of $150.00. Pre-market: 127.05 -0.13 (-0.10%)

Amazon.com (AMZN): Goldman Sachs reinitiated coverage with a Buy rating and target price of $315.00. Pre-market: 268.54 +2.16 (0.81%)

Earnings Reports

Alcoa (AA): Reported EPS of $0.06 in-line with estimates. Pre-market: 9.26 +0.16 (1.76%)

Apollo Group (APOL): Reported EPS of $1.22 beating estimates by +$0.32. Pre-market: 19.15 -1.79 (-8.55%)

WD-40 (WDFC): Reported EPS of $0.69 beating estimates by +$0.13. After Hours: 49.99 +2.22 (4.65%)

Constellation Brands (STZ): Reported EPS of $0.63 beating estimates by +$0.12. Pre-market: 37.42 +1.36 (3.77%)

Helen of Troy (HELE): Reported EPS of $1.18 beating estimates by +$0.04. After Hours: 33.53 0.00 (0.00%)

Markets: 
Futures at 7:19: Dow +0.11%. S&P +0.17%. Nasdaq +0.10%. Crude -0.02% to $93.13. Gold -0.08% to $1660.80.

Europe: London +0.50%. Paris -0.03%. Frankfurt +0.09%. 

Asia: Japan +0.67% to 10579. Hong Kong +0.46% to 23218. China -0.03% at 2275. India -0.38% to 19667. 

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