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Morning Coffee Pre-Market Wall Street News

88 views  2013-08-01 07:50   Tagsbackground  border  white  color  style 

J.C. Penney shares get hit. Shares of J.C. Penney (JCP) fell -10.2% yesterday following news that commercial lender CIT is no longer financing deliveries from small manufacturers to the company's stores due to credit fears. According to RetailSails JCP is still receiving financing from other companies other than CIT.

Upgrades:

Baker Hughes (BHI): Argus raised their rating from Sell to Hold.

Comcast (CMCSA): RW Baird raised their rating from Neutral to Outperform and raised their target price from $45.00 to $54.00.

Covance (CVD): First Analysis raised their rating from Equal Weight to Overweight and placed a target price of $96.00 on the company.

J.C. Penney (JCP): Atlantic Equities raised their rating from Neutral to Overweight. Pre-market: 15.53 +0.93 (6.37%)

Downgrades:

Humana (HUM): Stifel lowered their rating from Buy to Hold. Pre-market: 90.70 -0.56 (-0.61%)

J.C. Penney (JCP): Citigroup lowered their rating from Neutral to Sell and lowered their target price from $20 to $11.00.

Raymond James (RJF): Susquehanna lowered their rating from Positive to Neutral. Pre-market: 43.83 -0.24 (-0.54%)

Starbucks (SBUX): Williams Capital raised their rating from Hold to Buy and placed a target price of $85.00 on the company.

Coverage Initiated:

Chico’s FAS (CHS): FBR Capital initiated coverage with a Market Perform rating and target price of $17.00.

Gap (GPS): FBR Capital initiated coverage with an Outperform rating and target price of $53.00.

Guess? (GES): Susquehanna initiated coverage with a Neutral rating and target price of $38.00.

Earning Reports:

Allstate (ALL): Reported EPS of $1.12 beating estimates by +$0.14. Pre-market: 51.75 +0.77 (1.51%)

AstraZeneca (AZN): Reported EPS of $1.20 beating estimates by +$0.17. Pre-market: 50.31 -0.41 (-0.81%)

Automatic Data (ADP): Reported EPS of $0.55 missing estimates by -$0.02. Pre-market: 69.85 -2.24 (-3.11%)

Boston Beer Co (SAM): Reported EPS of $1.45 beating estimates by +$0.11. Pre-market: 190.00 +11.02 (6.16%)

Cardinal Health (CAH): Reported EPS of $0.79 beating estimates by +$0.02.

CBS (CBS): Reported EPS of $0.76 beating estimates by +$0.04. Pre-market: 54.10 +1.26 (2.38%)

Clorox (CLX): Reported EPS of $1.38 beating estimates by +$0.04.

ConocoPhillips (COP): Reported EPS of $1.41 beating estimates by +$0.11. Pre-market: 65.90 +1.04 (1.60%)

DIRECTV (DTV): Reported EPS of $1.18 missing estimates by -$0.16. Pre-market: 60.00 -3.28 (-5.18%)

Dreamworks Animation (DWA): Reported EPS of $0.26 beating estimates by +$0.08. Pre-market: 26.49 +1.73 (6.99%)

Exxon Mobil (XOM): Reported EPS of $1.55 missing estimates by -$0.35. Pre-market: 92.75 -1.00 (-1.07%)

Fluor (FLR): Reported EPS of $0.98 missing estimates by -$0.03. Pre-market: 62.56 0.00 (0.00%)

Kellogg (K): Reported EPS of $1.00 beating estimates by +$0.02. Pre-market: 65.45 -0.79 (-1.19%)

Microchip (MCHP): Reported EPS of $0.57 beating estimates by +$0.03.

Procter & Gamble (PG): Reported EPS of $0.79 beating estimates by +$0.02. Pre-market: 81.67 +1.37 (1.71%)

Sturm Ruger (RGR): Reported EPS of $1.63 beating estimates by +$0.45. Pre-market: 54.15 +3.28 (6.45%)

SunPower (SPWR): Reported EPS of $0.48 beating estimates by +$0.37. Pre-market: 27.63 -0.02 (-0.07%)

Markets: 
Futures at 8:20: Dow +0.73%. S&P +0.77%. Nasdaq +0.78%. Crude +1.94% to $107.07. Gold +1.08% to $1327.20. U.S. 10 Year -16/32 2.642%

Europe: London +0.07%. Paris +0.55%. Frankfurt +1.24%. 

Asia: Japan +2.47% to 14006. Hong Kong +0.94% to 22089. China +1.77% to 2029. India -0.15% to 19,314. 

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