Morning Coffee Pre-Market Wall Street News101 views 2013-08-26 07:44 Tags: background reported white style
U.S. Durable Goods Miss Estimates. The Commerce Department reported that durable goods orders fell 7.3% marking the largest decline since last August. Durable goods are manufactured products designed to last three years or more. Wall Street economist had estimated that durable goods would fall only 4% in July. Non-defense capital goods orders excluding aircraft fell 3.3%, ending four months of gains. It was the biggest fall since February. Economists had expected capital goods orders to increase 0.5%. The decline in orders for both durable and capital goods suggests manufacturing is slowing and that the economy may not grow in Q3 as much as some expected.
Adobe Systems (ADBE): Pacific Crest raised their rating from Sector Perform to Outperform and placed a target price of $60.00 on the company.
Aeropostale (AEO): Brean Capital raised their rating from Sell to Hold.
Altera (ALTR): Citigroup raised their rating from Neutral to Buy and raised their target price from $39.00 to $41.00.
Amgen (AMGN): Piper Jaffray raised their rating from Neutral to Overweight and raised their target price from $120.00 to $140.00.
Big Lots (BIG): JPMorgan raised their rating from Underweight to Neutral and placed a target price of $32.25 on the company. Pre-market: 33.00 +0.75 (2.33%)
Dollar Tree (DLTR): Deutsche Bank raised their rating from Hold to Buy and placed a target price of $60.00 on the company. Pre-market: 53.97 +0.68 (1.28%)
Hasbro (HAS): Citigroup raised their rating from Sell to Buy and raised their target price from $40.00 to $53.00.
Family Dollar Store (FDO): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $74.00 on the company. Pre-market: 71.88 -0.40 (-0.55%)
Tyson Foods (TSN): BofA Merrill Lynch lowered their rating from Buy to Neutral and placed a target price of $32.00 on the company. Pre-market: 30.76 -0.72 (-2.29%)
Futures at 8:31: Dow . S&P . Nasdaq +0.06%. Crude -0.15% at $106.24. Gold + to $1396.70. U.S. 10 Year +4/32 2.799%.
Europe: London closed. Paris . Frankfurt .
Asia: Japan to
13636. Hong Kong to 22005. China to 2096. India to