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Morning Coffee Pre-Market Wall Street News

110 views  2013-05-01 07:57   Tagsbackground  corporate  offering  white  style 

Apple Issues Debt. Apple's (AAPL) new debt offering will be the largest corporate bond deal in history. Yesterday, Apple sold a total of $17 billion in bonds made up of six different offerings. The offerings consisted of: $1 billion of three-year floating-rate notes, $1.5 billion of three-year fixed-rate notes, $2 billion of five-year floating-rate notes, $4 billion of five-year fixed-rate notes, $5.5 billion of 10-year fixed-rate notes and $3 billion of 30-year fixed-rate notes. The rate of the newly issued three-year was 0.511%. Pre-market: 443.20 +0.42 (0.09%)

Upgrades

Amgen (AMGN): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $100.00 to $130.00.

Infosys (INFY): Susquehanna raised their rating from Negative to Neutral and raised their target price from $38.00 to $40.00.

Downgrades

Biogen Idec (BIIB): Goldman Sachs lowered their rating from Conviction Buy to Neutral and lowered their target price from $215.00 to $211.00.

Eastman Chemical (EMN): CLSA lowered their rating from Outperform to Buy and lowered their target price from $90.00 to $75.00.

Edison International (EIX): ISI Group lowered their rating from Buy to Hold and raised their target price from $54.00 to $55.50.

Edison International (EIX): BMO Capital lowered their rating from Outperform to Market Perform.

Fiserv (FISV): Oppenheimer lowered their rating from Outperform to Perform.

Helen of Troy (HELE): Imperial Capital lowered their rating from Outperform to In-Line.

Coverage Initiated

Maximus (MMS): Avondale initiated coverage with an Outperform rating and target price of $94.00.

Potash (POT): Cantor Fitzgerald initiated coverage with a Buy rating and target price of $50.00.

Earning Reports

ADT (ADT): Reported EPS of $0.41 missing estimates by -$0.02. Pre-market: 41.99 -1.65 (-3.78%)

Clorox (CLX): Reported EPS of $1.00 missing estimates by -$0.06. Pre-market: 85.31 -0.94 (-1.09%)

Comcast (CMCSA): Reported EPS of $0.51 beating estimates by +$0.01. Pre-market: 42.05 +0.75 (1.82%)

CVS Caremark (CVS): Reported EPS of $0.83 beating estimates by +$0.04. Pre-market: 59.10 +0.92 (1.58%)

MasterCard (MA): Reported EPS of $6.23 beating estimates by +$0.06. Pre-market: 537.55 -15.38 (-2.78%)

Merck (MRK): Reported EPS of $0.85 beating estimates by +$0.06. Pre-market: 44.82 -2.18 (-4.64%)

Sealed Air (SEE): Reported EPS of $0.17 missing estimates by -$0.01.

Viacom (VIAB): Reported EPS of $0.96 beating estimates by +$0.01.

Markets: 
Futures at 8:49: Dow -0.16%. S&P -0.11%. Nasdaq: +0.07%. Crude -1.67% to $91.91. Gold -0.41% to $1466.10.

Europe: London +0.55%. Paris: Closed. Frankfurt: Closed. 

Asia: Japan -0.44% to 13799. Hong Kong: Closed. China: Closed. India: Closed. 

 

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