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Morning Coffee Pre-Market Wall Street News

72 views  2013-07-05 07:25   Tagsbackground  created  initial  local  white 

U.S. Economy Adds 195,000 New Jobs. According to the U.S. Labor Department the economy added 195,000 new jobs in June. Wall Street economists were looking for only 166,000 new jobs to have been created in June. Private employers added 202,000 positions, while local, state and federal governments shed 7,000 workers. The Manufacturing sector which is a good barometer for the overall economy lost 6,000 jobs in June. While construction gained 13,000 new jobs.

Additionally, the unemployment rate held steady, but high at 7.6%, unchanged from May.  Two weeks ago, Fed Chairman Ben Bernanke said that he anticipated that the Fed’s current bond-buying program would begin to end when unemployment fell below 7%.

Upgrades:

Apache Corp (APA): Argus raised their rating from Hold to Buy and placed a target price of $95.00 on the company. Pre-market: 81.50 +1.27 (1.58%)

Buffalo Wild Wings (BWLD): Miller Tabak raised their rating from Hold to Buy and raised their target price from $99.00 to $117.00.

Pandora (P): HSBC raised their rating from Neutral to Overweight. Pre-market: 19.85 +0.42 (2.16%)

SABMiller (SBMRY): Societe Generale raised their rating from Hold to Buy.

Downgrades:

Mead Johnson Nutrition (MJN): Morgan Stanley lowered their rating from Overweight to Equal Weight and placed a target price of $76.00 on the company. Pre-market: 69.41 +0.56 (0.81%)

Markets: 
Futures at 7:55:
Dow +0.97%. S&P +0.81%. Nasdaq +0.73%. Crude +0.52% to $101.75. Gold -1.13% to $1237.70. U.S. 10 Year -1 6/32 2.646%

Europe: London +0.27%. Paris -0.14%. Frankfurt -0.61%. 


Asia: Japan +2.08% to 14310. Hong Kong +1.89% to 20855. China +0.05% to 2007. India +0.44% to 19496.

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