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Morning Coffee Pre-Market Wall Street News

82 views  2013-08-23 08:30   Tagsbackground  possible  include  rating  agency 

Moody’s Warns of Possible Bank Downgrades. The rating agency Moody's (MCO) said that it has put several major U.S. Banks on review for possible downgrades. Banks that could receive credit downgrades include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS) and Wells Fargo (WFC).

Upgrades:

First Solar (FSLR): Raymond James raised their rating from Underperform to Market Perform.

Toronto-Domino Bank (TD): Scotia Capital raised their rating from Sector Perform to Outperform.

Trina Solar (TSL): Raymond James raised their rating from Underperform to Market Perform.

VMware (VMW): Jefferies raised their rating from Hold to Buy and raised their target price from $86.00 to $105.00.

Downgrades:

Abercrombie & Fitch (ANF): RW Baird lowered their rating from Outperform to Neutral and lowered their target price from $59.00 to $42.00.

Aeropostale (AEO): Topeka lowered their rating from Buy to Hold.

Dick’s Sporting Goods (DKS): Oppenheimer lowered their rating from Outperform to Perform and lowered their target price from $56.00 to $44.00.

Guess? Inc (GES): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $35.00 to $31.00.

Pandora Media (P): Stifel lowered their rating from Buy to Hold.

Pandora Media (P): Raymond James lowered their rating from Outperform to Market Perform.

Staples (SPLS): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price to $15.00 on the company.

Coverage Initiated:

Ball Corp (BLL): Northcoast initiated coverage with a Neutral rating.

Chipotle Mexican Grill (CMG): Northcoast initiated coverage with a Sell rating and target price of $400.00.

Dean Foods (DF): Northcoast initiated coverage with a Neutral rating.

Dunkin Brands Group (DNKN): Northcoast initiated coverage with a Neutral rating.

Panera Bread Co (PNRA): Northcoast initiated coverage with a Buy rating and target price of $205.00.

Tim Hortons (THI): Northcoast initiated coverage with a Buy rating and target price of $72.00.

Earning Reports:

Aeropostale (AEO): Reported EPS of -$0.34 missing estimates by -$0.09.

Autodesk (ADSK): Reported EPS of $0.45 beating estimates by +$0.03.

Foot Locker (FL): Reported EPS of $0.46 missing estimates by -$0.01.

Gap (GPS): Reported EPS of $0.64 in-line with estimates.

Pandora Media (P): Reported EPS of $0.04 beating estimates by +$0.02.

Ross Stores (ROST): Reported EPS of $0.98 beating estimates by +$0.05.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq 0.0%. Crude +0.2% to $105.22. Gold +0.3% to $1374.90.

Europe: London +0.2%. Paris -0.5%. Frankfurt 0.0%. 

Asia: Japan +2.2% to 13661. Hong Kong -0.1% to 21864. China -0.5% to 2057. India +1.1% to 18519. 

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