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Morning Coffee Pre-Market Wall Street News

179 views  2013-05-15 07:50   Tagsinto  background  struggles  during 

France Joins EU Recession. As a majority of the EU struggles with recession France joined the group. The French economy slipped into recession during Q1 as the French economy contracted -0.2% Q/Q after contracting the same amount in Q4. Economists are projecting the French economy will contract -0.2% for the full year.  Germany once again avoided recession as their economy grew by +0.1% during Q1. Economists had expected the German economy to grow by +0.3%. The statistics office also revised down its GDP data for Q4, to -0.7% during the period, more than the -0.6% previously reported. Additionally, both JPMorgan and BofA Merrill Lynch cut their growth forecast in China.


Gap (GSP): Citigroup raised their rating from Neutral to Buy and raised their target price from $40.00 to $48.00.

Noble Energy (NBL): Stifel raised their rating from Hold to Buy and placed a target price of $140.00 on the company.


Clorox (CLX): Credit Suisse lowered their rating from Outperform to Neutral and maintained a target price of $87.00. Pre-market: 88.11 0.00 (0.00%)

Domino's Pizza (DPZ): Miller Tabak lowered their rating from Buy to Hold.

ITT Educational (ESI): First Analysis Sec lowered their rating from Overweight to Equal Weight. Pre-market: 24.50 -0.61 (-2.43%)

Research In Motion (BBRY): Bernstein lowered their rating from Outperform to Market Perform and lowered their target price from $22.00 to $15.00. Pre-market: 14.86 -0.39 (-2.56%)

Coverage Initiated

AbbVie (ABBV): Cowen initiated coverage with an Outperform rating.

LinkedIn (LNKD): Robert W. Baird initiated coverage with a Neutral rating and target price of $190.00. Pre-market: 184.50 +0.10 (0.05%)

Safeway (SWY): Goldman Sachs initiated coverage with a Sell rating and target price of $21.00. Pre-market: 25.25 -0.20 (-0.79%)

Earning Reports

Agilent (A): Reported EPS of $0.77 beating estimates by +$0.10. Pre-market: 44.60 +0.63 (1.43%)

Arctic Cat (ACAT): Reported EPS of -$0.38 beating estimates by +$0.02.

Deere & Co (DE): Reported EPS of $2.76 beating estimates by +$0.03. Pre-market: 90.20 -3.57 (-3.81%)

Macy’s (M): Reported EPS of $0.55 beating estimates by +$0.02. Pre-market: 48.30 +0.91 (1.92%)

Pinnacle Foods (PF): Reported EPS of $0.34 beating estimates by +$0.07. Pre-market: 24.60 +0.56 (2.33%)

Futures at 8:21: Dow -0.06%. S&P -0.19%. Nasdaq: -0.03%. Crude -0.89% at $93.96. Gold -0.77% at 1413.40.

Europe: London +0.01%. Paris -0.10%. Frankfurt +0.17%. 

Asia: Japan +2.29% to 15096. Hong Kong +0.50% to 23044. China +0.35% to 2224. India +2.49% to 20212. 

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