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Morning Coffee Pre-Market Wall Street News

186 views  2013-05-13 07:02   Tagsbackground  white  style 

Retail Sales Unexpectedly Rise. The Commerce Department announced today that retail sales rose +0.1% after a revised -0.5% decline in March. Economist had expected retail sales to fall -0.3%. Retail Sales Ex-Auto fell -0.1%, but also beat economists’ estimates of -0.2%. Core sales which excludes automobiles, gasoline and building materials increased +0.5% after rising +0.1% in March. Core Sales is watched since it corresponds more closely with the consumer spending component of the GDP.

Upgrades

Cisco Systems (CSCO): FBR Capital raised their rating from Underperform to Market Perform and raised their target price form $17.00 to $19.00. Pre-market: 21.07 -0.03 (-0.14%)

Express Scripts (ESRX): Jefferies raised their rating from Hold to Buy and raised their target price from $56.00 to $74.00. Pre-market: 61.50 +0.10 (0.16%)

Johnson Controls (JCI): Lazard Capital raised their rating from Neutral to Buy.

Owens Corning (OC): KeyBanc raised their rating from Hold to Buy and placed a target price of $51.00 on the company. Pre-market: 44.05 +0.43 (0.99%)

T-Moble (TMUS): UBS raised their rating from Neutral to Buy and raised their target price from $18.00 to $24.00.

Downgrades

Aeropostale (ARO): Cowen lowered their rating from Outperform to Neutral.

AutoZone (AZO): Deutsche Bank lowered their rating from Buy to Hold and maintained their target price of $410.00 on the company. Pre-market: 61.50 +0.10 (0.16%)

Carlyle Group (CG): UBS lowered their rating from Buy to Neutral and lowered their target price from $34.00 to $32.00. Pre-market: 29.90 -0.30 (-0.99%)

True Religion (TRLG): B. Riley & Co. lowered their rating from Buy to Neutral and lowered their target price from $38.00 to $32.00.

True Religion (TRLG): The Benchmark Company lowered their rating from Buy to Hold.

Markets: 
Futures at 7:26: Dow -0.29%. S&P -0.24%. Nasdaq -0.35%. Crude -0.41% to $95.64. Gold -0.34% to $1431.60.

Europe: London -0.14%. Paris -0.14%. Frankfurt -0.30%. 

Asia: Japan +1.20% to 14782. Hong Kong -1.42% to 22989. China -0.22% to 2241. India -1.95% to 19691. 

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