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Morning Coffee Pre-Market Wall Street News

86 views  2013-08-12 07:18   TagsBlackBerry  background  executive  reported  believe 

BlackBerry Could Go Private. The once dominate cell phone maker BlackBerry (BBRY) which is struggling to stay alive could be taken private. It’s been reported that a senior executive at a Canadian pension fund believes they and other funds in Canada would consider a deal to take BlackBerry private. Last Friday, the Canada Pension Plan Investment Board said it would be open participating in a BlackBerry buyout. (BBRY) After Hours: 10.44 -0.21 (-1.97%)

Upgrades:

Cemex S.A.B. de C.V. (CX): Citigroup raised their rating from Neutral to Buy and placed a target price of $14.50 on the company.

LinkedIn (LNKD): Needham raised their rating from Hold to Buy and placed a target price of $280.00 on the company. Pre-market: 235.80 +2.99 (1.28%)

Lowe’s (LOW): Canaccord raised their rating from Sell to Hold and raised their target price from $28.00 to $48.00.

Downgrades:

Broadcom (BRCM): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $36.00 to $30.00. Pre-market: 25.84 -0.22 (-0.84%)

Juniper Networks (JNPR): RBC Capital lowered their rating from Outperform to Sector Perform.

Tesla Motors (TSLA): Lazard Capital lowered their rating from Buy to Neutral. Pre-market: 148.50 -4.50 (-2.94%)

Coverage Initiated:

AbbVie (ABBV): Argus initiated coverage with a Buy rating and target price of $52.00.

Cemex S.A.B. de C.V. (CX): Exane BNP Paribas initiated coverage with an Outperform rating and target price of $14.00.

Ralph Lauren (RL): Goldman Sachs initiated coverage with a Neutral rating and target price of $205.00.

Tiffany & Co. (TIF): Goldman Sachs initiated coverage with a Neutral rating and target price of $84.00.

Earning Reports:

Sysco (SYY): Reported EPS of $0.50 missing estimates by -0.05. Pre-market: 34.15 -0.86 (-2.46%)

Markets: 
Futures at 7:18: Dow -0.36%. S&P -0.47%. Nasdaq -0.31%. Crude -0.53% to $105.40. Gold +1.12% to $1326.70. U.S 10 Year +3/32 2.570%.

Europe: London -0.31%. Paris -0.28%. Frankfurt -0.37%. 

Asia: Japan -0.70% to 13519. Hong Kong +2.13% to 22271. China +2.39% to 2101. India +0.84% to 18947. 

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