Morning Coffee Pre-Market Wall Street News161 views 2013-04-22 06:08 Tags: first set accounting background investment
U.S. GDP Calculations to Change. The way in which the U.S. economy is measured is set to change beginning in July. Starting in July the U.S. government will be one of the first countries to begin using the new international standard for GDP accounting. The new calculations will now include R&D investment, and both film and music royalties. The new standard is expected to increase the GDP in small states that host a lot of military R&D and have minimal effects in other states, widening measured income gaps across the U.S. Another change is the inclusion of deficits in defined benefit pension plans. The liabilities of the underfunded plans are expected to have large ramifications for both the federal government and state governments.
BHP Billiton (BHP): HSBC Securities raised their rating from Neutral to Overweight. Pre-market: 64.38 +0.19 (0.30%)
Equifax (EFX): ResearchTeam raised their rating from Reduce to Hold.
Google (GOOG): S&P raised their rating from *** Hold to **** Buy. Pre-market: 804.00 +4.13 (0.52%)
Johnson Controls (JCI): RW Baird raised their rating from Neutral to Outperform and raised their target price from $36.00 to $44.00.
Sketchers USA (SKX): BB&T raised their rating from Hold to Buy.
USG Corp (USG): Credit Suisse raised their rating from Underperform to Neutral and raised their target price from $22.00 to $27.00.
Apple (AAPL): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 392.21 +1.68 (0.43%)
Barrick Gold (ABX): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $40.00 to $22.50. Pre-market: 18.70 +0.53 (2.92%)
Ericsson (ERIC): Societe Generale lowered their rating from Hold to Sell. Pre-market: 11.68 -0.06 (-0.55%)
General Electric (GE): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 21.67 -0.08 (-0.37%)
McCormick & Co. (MKC): KeyBanc lowered their rating from Buy to Hold.
Newmont Mining (NEM): Deutsche Bank lowered their rating from Hold to Sell and lowered their target price from $40.00 to $24.00. Pre-market: 33.50 +0.52 (1.58%)
Cabot Oil & Gas (COG): Deutsche Bank initiated coverage with a Hold rating and target price of $75.00.
Coverage Reiterated/Price Target Changed
Celgene (CELG): Cantor Fitzgerald reiterated their Buy rating and raised their target price from $121.00 to $142.00.
Caterpillar (CAT): Pre-market: 81.00 +0.57 (0.71%)
Check Point Software (CHKP): Reported EPS of $0.79 beating estimates by +$0.01.
Halliburton (HAL): Reported EPS of $0.67 beating estimates by +$0.10. Pre-market: 39.01 +1.80 (4.84%)
Hasbro (HAS): Reported EPS of $0.05 beating estimates by +$0.02. Pre-market: 45.70 +0.68 (1.51%)
Philips Electronics (PHG): Reported EPS of $0.18 missing estimates by -$0.09. Pre-market: 27.52 -0.78 (-2.76%)
Futures at 7:04: Dow +0.48%. S&P +0.53%. Nasdaq +0.72%.
Crude +0.32% to $88.01. Gold +2.60% to $1431.90.
Europe: London +0.68%. Paris +0.68%. Frankfurt +0.94%.
Asia: Japan +1.89% to 13568. Hong Kong +0.14% to 22044. China -0.11% to 2242. India +0.81% to 19170.