Morning Coffee Pre-Market Wall Street News250 views 2013-01-11 08:42 Tags: bay background continue window engine
Boeing Deamliner Suffers More Problems. Problems with Boeings 787 Deamliners continue to mount. Two more Deamliners had issues. One suffered a oil leak in the engine bay while another had a cockpit window. The latest problems add to three earlier incidents this week, including a battery fire that filled one plane with smoke. The resent mishaps have caused the FAA to order a safety review on the planes. Pre-market: 75.68 -1.41 (-1.83%)
California Forecast Fiscal Surplus. For the first time in years California is forecasting that it will generate an $851 million surplus in the next fiscal year which begins on July 1. Governor Jerry Brown (D) released his budget yesterday which forecasts that general-fund revenue will rise +3.3% to $98.5 billion and spending to increase +5% to $97.7 billion. Governor Brown expects the state's cost cuts, tax rises and improving economy will be the main factors behind the surplus.
Ford Motor Co (F): Goldman Sachs raised their rating from Buy to Conviction Buy and raised their target price from $15.00 to $17.00.
Sherwin-Williams (SHW): Northcoast lowered their rating from Buy to Neutral.
Legg Mason (LM): Sandler O’Neill lowered their rating from Buy to Hold.
Herbalife (HLF): Janney Capital lowered their rating from Buy to Neutral. Pre-market: 39.26 +0.02 (0.05%)
Eaton Corp (ETN): Buckingham lowered their rating from Buy to Neutral and placed a target price of $58.00 on the company.
JC Penney (JCP): UBS lowered their rating from Neutral to Sell and lowered their target price from $21.00 to $13.00.
3M (MMM): JPMorgan lowered their rating from Neutral to Underweight and placed a target price of $97.00 on the company.
Watson Pharmaceutical (WPI): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $100.00 to $96.00.
Ciena (CIEN): Maxim Group initiated coverage with a Buy rating and target price of $19.00. Pre-market: 15.02 -0.12 (-0.79%)
American International (AIG): FBR Capital initiated coverage with an Outperform rating and target price of $44.00. Pre-market: 35.83 +0.03 (0.08%)
AbbVie (ABBV): UBS initiated coverage with a Neutral rating and target price of $36.00. Pre-market: 33.75 -0.25 (-0.74%)
VeriSign (VRSN): B. Riley Caris initiated coverage with a Neutral rating and target price of $39.00.
Wells Fargo (WFC): Reported EPS of $0.91 beating estimates by +$0.03. Pre-market: 34.84 -0.56 (-1.58%)
Futures at 8:34: Dow +0.02. S&P +0.03. Nasdaq +0.07%. Crude -0.48 to $93.36. Gold to $1674.20.
Europe: London . Paris . Frankfurt .
Asia: Japan to
10802. Hong Kong to
23264. China to 2243. India 0.00% at