AAPL downgrade | Morning News

APRIL 8.2015

US futures struggling to hold positive at this 7AM hour with investors cautious ahead of the FOMC meeting later this afternoon and the kickoff of the earnings season which unofficially starts after the close when AA reports its earnings. Despite the mega deal penned overnight when Shell announced its purchase of BG Group, oil is under pressure as indicators point to rising inventories and record Saudi output. Nikkei hits a 15 year high after the BOJ keeps monetary stimulus at full throttle, weakening the dollar against the yen.

 

NEW:

  • GOOG: GOOGL: AAPL :  Google could benefit from AAPL removing them as the default browser for Safari, reports businessinsider
  • EYES: Second Sight Announces First Successful Implant of Model of Orion I Visual Cortical Prosthesis, reports the GlobeNewswire
  • TIF: announces long term partnership with the Whitney Museum to be lead sponsor of the Whitney Biennial, reports business wire
  • SPLK: announces award of software contract to support LMT L-35 Lightning project,reports businesswire
  • MRK: HCV combo designated a Breakthrough Therapy by the FDA
  • RGLS: after hours on Tues, announced that AZN will proceed with the clinical development of RG-125
  • WYNN: MBTA land sale could halt WYNN’s plan to open casino, reports the Boston Globe
  • RDS.A: RDS.B: Shell announces agreement to purchase BG Group for $69.6B in cash and stock
  • INO: Inovio selected by DARPA to lead $45M Ebola prevention initiative, reports Street Insider
  • ICPT: Deutsche Bank adds to short term buy list
  • COF: Top Pick at Citigroup
  • FSLR: FBR out positive on First Solar
  • TSLA: announces upgrade of lower end version of the Model S
  • MSFT:Surface tablet shipments expected to exceed 4 million units in 2015, reports DigiTimes

EARNINGS:

  • RAD: FQ4 EPS of $0.12 beats by $0.05.Revenue of $6.85B (+3.8% Y/Y) beats by $50M: guidance the company sees FY15 same-store sales of 2.5% to 4.5% and EPS of $0.19 to $0.27.: earnings conference call 8:30AM EST
  • FDO: FQ2 EPS of $0.74 beats by $0.01.Revenue of $2.8B (+2.9% Y/Y) in-line: sss +0.5% misses estimate of +1.7%: due to the pending merger with DLTR, FDO won’t be announcing guidance

ON THE ECONOMIC CALENDAR:

  • 7AM: MBA Mortgage Applications
  • 10:30AM: Petroleum Inventories
  • 1PM: $21B, 10 Year Bond Auction
  • 2PM: FOMC minutes
  • earnings of note after the close: AA: BBBY

ANALYSTS RATINGS CHANGES:

UPGRADES:

  • LULU: upgrade: neutral to buy: Sterne Agee $77
  • XRX: upgrade; neutral to buy: Citi: pt raised from $12.50 to $15
  • VC: upgrade; equal weight to overweight: Barclays: pt raised from $107 to $121
  • JBL: upgrade; market perform to outperform: Raymond James: $27
  • QLYS: upgrade; hold to buy: Topeka: pt raised from $46 to $61

DOWNGRADES:

  • YGE: downgrade: neutral to underperform: BoA/Merrill
  • BTU: downgrade; buy to hold: Jefferies: $6
  • NLY: downgrade; market perform to underperform: FBR Capital: $10
  • CMI: downgrade; buy to neutral: Goldman: $155
  • AAPL : downgrade: buy to hold: Societe Generale: $130

INITIATIONS:

  • HCP: initiated: underperform: BMO: $42
  • CPT: initiated: outperform: BMO: $90
  • HCN: initiated: outperform: BMO: $86
  • BHI: initiated: overweight: Stephens: $76
  • ETE: initiated: CONVICTION BUY: Goldman: $86
  • DYN: initiated: buy: Goldman: $38

PRICE TARGET CHANGES:

  • TSO: pt raised from $89 to $99: Cowen
  • UA: pt raised from $90 to $92: FBR
  • MDVN: pt raised from $132 to $180: Canaccord
  • ACT: pt raised from $328 to $348: Leerink

 

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