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Morning Coffee Pre-Market Wall Street News

175 views  2013-02-01 08:45   Tagsonly  background  expected  numbers  white 

Unemployment Rate rises. Unemployment data for January unexpectedly rose for the month of January.  Economists expected that nonfarm payrolls rise by 180,000, yet the numbers disappointed coming in at only 157,000. The jobless rate was also expected to have stayed at 7.8% but jumped to 7.9%. Earlier this week both the GDP and new unemployment claims both disappointed the market, leading many traders to question the economic policies of the Obama administration.

Upgrades

AB InBev (BUD): Bernstein raised their rating from Market Perform to Outperform. Pre-market: 90.49 +1.89 (2.13%)

Buffalo Wild Wings (BWLD): KeyBanc Capital Markets raised their rating from Hold to Buy and placed a target price of $85.00 on the company. Pre-market: 73.55 0.00 (0.00%)

Ericsson (ERIC): Goldman Sachs raised their rating from Neutral to Conviction Buy. Pre-market: 12.18 +0.58 (5.00%)

Ericsson (ERIC): Credit Suisse raised their rating from Underperform to Neutral. Pre-market: 12.18 +0.58 (5.00%)

Wynn Resorts (WYNN): Janney Capital raised their rating from Neutral to Buy. Pre-market: 123.50 -1.72 (-1.37%)

Oracle (ORCL): BMO Capital Market raised their rating from Market Perform to Outperform and raised their target price from $36.00 to $43.00. Pre-market: 35.81 +0.30 (0.84%)

Verizon (VZ): Piper Jaffray raised their rating from Neutral to Outperform and raised their target price from $45.00 to $50.00. Pre-market: 44.11 +0.50 (1.15%)

Downgrades

Electronic Arts (EA): Hilliard Lyons lowered their rating from Lon-Term Buy to Neutral. Pre-market: 15.51 -0.22 (-1.40%)

Flowserve (FLS): UBS lowered their rating from Buy to Neutral and lowered their target price from $160.00 to $152.00.

UPS (UPS): Citigroup lowered their rating from Buy to Neutral and lowered their rating from $86.00 to $83.00. Pre-market: 79.20 -0.09 (-0.11%)

Zimmer Holdings (ZMH): Mizuho lowered their rating from Buy to Underperform. Pre-market: 74.60 0.00 (0.00%)

Stryker (SYK): Mizuho lowered their rating from Buy to Neutral. Pre-market: 62.65 0.00 (0.00%)

Earning Reports

Chevron (CVX): Reported EPS of $2.99 missing estimates by -$0.06. Pre-market: 115.75 +0.60 (0.52%)

Exxon Mobil (XOM): Reported EPS of $2.20 beating estimates by +$0.01. Pre-market: 90.40 +0.43 (0.48%)

Ingersoll-Rand (IR): Reported EPS of $0.76 beating estimates by +$0.05. Pre-market: 51.40 +0.01 (0.02%)

Legg Mason (LM): Reported EPS of -$3.45 missing estimates by -$0.23. Pre-market: 27.35 -0.30 (-1.08%)

Mattel (MAT): Reported EPS of $1.12 missing estimates by -$0.03. Pre-market: 36.75 -0.88 (-2.34%)

Merck (MRK): Reported EPS of $0.83 beating estimates by +$0.02. Pre-market: 41.90 -1.35 (-3.12%)

National Oilwell Varco (NOV): Reported EPS of $1.49 beating estimates by +$0.06. Pre-market: 74.20 +0.06 (0.08%)

Tidewater (TDW): Reported EPS of $0.68 beating estimates by +$0.25. Pre-market: 51.35 +2.18 (4.43%)

Markets: 
Futures at 8:33: Dow +0.54%. S&P +0.40%. Nasdaq +0.70%. Crude -0.13% to $97.37. Gold +0.06% to $1663.00.

Europe: London +0.62%. Paris +1.15%. Frankfurt +0.30%. 

Asia: Japan +0.47% to 11191. Hong Kong -0.03% at 23722. China +1.41% to 2419. India -0.57% to 19781. 

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