Morning Coffee Pre-Market Wall Street News74 views 2013-07-02 07:48 Tags: background initial white color style
Home Prices Rise. Home prices in May rose the most in seven years according to CoreLogic. Prices were up +12.2% compared to May of last year and up +2.6% from April. This was the largest increase since February 2006. Excluding distressed sales, which include foreclosures and short sales, prices were up +11.6% on a yearly basis. The analysts on Wall Street forecast prices will rise by another +2.9% in June for a yearly gain of +13.2%. Nevada saw the biggest price increases, followed by Arizona , California, Hawaii and Oregon.
JPMorgan Chase (JPM): Raymond James raised their rating from Outperform to Strong Buy and raised their target price from $55.00 to $64.00. Pre-market: 52.65 +0.16 (0.30%)
Las Vegas Sands (LVS): ISI Group raised their rating from Neutral to Buy.
Quicksilver (ZQK): B. Riley raised their rating from Neutral to Buy and placed a target price of $9.25 on the company.
Accenture (ACN): Argus lowered their rating from Buy to Hold. Pre-market: 71.21 -0.89 (-1.23%)
Barrick Gold (ABX): Jefferies lowered their rating from Buy to Hold and lowered their target price from $30.00 to $14.00.
Newmont Mining (NEM): Jefferies lowered their rating from Hold to Underperform and lowered their target price from $30.00 to $18.00.
Pfizer (PFE): Standpoint Research lowered their rating from Hold to Sell. Pre-market: 27.56 -0.22 (-0.79%)
Tractor Supply Co (TSCO): Nomura lowered their rating from Buy to Neutral. Pre-market: 114.89 -1.49 (-1.28%)
Groupon (GRPN): Wunderlich initiated coverage with a Buy rating and target price of $11.00.
Ryder Systems (R): Wunderlich initiated coverage with a Buy rating and target price of $72.00.
Acuity Brands (AYI): Reported EPS of $0.97 beating estimates by +$0.10. Pre-market: 79.00 +3.07 (4.04%)
Constellation Brands (STZ): Reported EPS of $0.38 missing estimates by -0.03. Pre-market: 52.38 -0.77 (-1.45%)
Futures at 8:18: Dow . S&P -0.07. Nasdaq . Crude to $1254.00.
Europe: London . Paris . Frankfurt .
Asia: Japan to
14099. Hong Kong to 20659. China to 2007. India to