Morning Coffee Pre-Market Wall Street News178 views 2013-04-09 07:45 Tags: background yesterday company decent report
Alcoa Kicks Off Earnings Season. At the close of trading yesterday Alcoa (AA) kicked off Q1 earnings season with a decent report. Net profits at the company rose 58% to $149 million with EPS beating Wall Street Estimates by over 37% at $0.11. Revenues at the company fell 3% to $5.83 billion, missing consensus estimates due to falling aluminum prices and lower production at Alcoa's European operations. The company did see strong demand from both the aviation and auto sectors. Pre-market: 8.31 -0.08 (-0.95%)
BB&T Corp. (BBT): Compass Point raised their rating from Neutral to Buy and raised their target price from $34.00 to $38.00. Pre-market: 30.51 +0.13 (0.43%)
Dominion Resources (D): Atlantic Equities raised their rating from Neutral to Overweight.
Bank of Hawaii (BOH): RBC Capital Markets lowered their rating from Outperform to Sector Perform.
Patterson Cos. (PDCO): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $39.00 to $36.00.
St. Jude Medical (STJ): RBC Capital Markets lowered their rating from Sector Perform to Underperform. Pre-market: 41.50 -0.44 (-1.05%)
Hyatt Hotels (H): Macquarie initiated coverage with a Neutral rating and target price of $46.00.
Lions Gate Entertainment (LGF): Argus initiated coverage with a Buy rating and target price of $31.00. Pre-market: 23.66 +0.23 (0.98%)
Marriott (MAR): Macquarie initiated coverage with an Outperform rating and target price of $48.00.
Monsanto (MON): Stifel initiated coverage with a Hold rating. Pre-market: 105.21 +0.01 (0.01%)
Starwood Hotels (HOT): Macquarie initiated coverage with an Outperform rating and target price of $73.00. Pre-market: 62.25 +0.27 (0.44%)
Alcoa (AA): Reported EPS of $0.11 beating estimates by +$0.03. Pre-market: 8.31 -0.08 (-0.95%)
Futures at 8:40: Dow +0.09%. S&P . Nasdaq . Crude
Europe: London . Paris . Frankfurt .
Asia: Japan 0.00% at 13192. Hong Kong to 21870. China to