AAPL | Morning News

BullVsBearJULY 13, 2015

US futures strong at this 7AM hour following green arrows around the world with the Greek drama being diffused after EU leaders struck an agreement on a third Greek bailout following marathon talks. Oil down on continued Iranian talks but off it’s overnight low after OPEC sees demand picking up in 2016.

NEWS:

  • GE: GE fund sells SouceGas to Black Hills for $1.89B
  • WYNN: LVS: MGM: MPEL: Macau may relax smoking ban at casinos
  • AAPL: Apple dominants smartphone companies in operating profit, taking in a 92% share
  • AAPL: HPQ: SNE: MSFT: Upstream supply chain expect weak 2H15 PC performance, reports digitimes
  • CMCSA: Comcast introduces “Stream” TV service
  • HPQ: INTC: HP announces a High Performance Computing collaboration with Intel
  • EW: announces the purchase of CardiAQ Valve Technologies, a private developer of a mitral valve replacement system
  • ASNA: guides lower for FY15, cutting EPS from $0.70-.75 to $0.57-.60
  • WLT: BTU: ACI: ANR: CLD: CNX: Natural gas passes coal in electricity generation in US for the first time ever

ON THE ECONOMIC CALENDAR:

  • 2PM: Treasure Budget

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • IMAX: upgrade: neutral to overweight: Piper Jaffray: pt raised from $33 to $41
  • AAPL: upgrade: hold to buy: SocGen: $140
  • AN: upgrade: underweight to overweight: Morgan Stanley: pt raised from $47 to $70 (double upgrade)
  • CGI: upgrade: market perform to strong buy: Raymond James: $26
  • EW: upgrade: market perform to outperform: Northland Capital: pt raised from $140 to $170
  • EW: upgrade: sector perform to outperform: RBC Capital: pt raised from $135 to $185
  • PXD: upgrade: equal weight to overweight: Morgan Stanley: $190
  • CNC: upgrade: market perform to outperform: FBR Capital: pt raised from $80 to $90
  • GRPN: upgrade: neutral to outperform: Macquarie: $7
  • IR: upgrade: hold to buy: Stifel: $77

DOWNGRADES:

  • STM: downgrade: neutral to underweight: JP Morgan
  • SEM: downgrade: neutral to sell: UBS: $15
  • PEP: downgrade: positive to neutral: Susquehanna
  • SLG: downgrade: neutral to sell: Goldman: pt cut from $122 to $105
  • VNO: downgrade: buy to neutral: Goldman: $100
  • MUR: downgrade: equal weight to underweight: Morgan Stanley:
  • HOLX: downgrade: buy to hold: Evercore:

INITIATIONS:

  • FIT: initiated: overweight: Piper: $52
  • FIT: initiated: buy: Stifel: $57
  • FIT: initiated: equal weight: Barclays: $45
  • FIT: initiated: equal weight: Morgan Stanley: $42
  • FIT: initiated: buy: SunTrust: $50
  • FIT: initiated: buy: Deutsche Bank: $50
  • AXON: initiated: outperform: Baird: $29
  • PYPLV: initiated: buy: Cantor: $45
  • PANW: initiated: overweight: JP Morgan: $216

PRICE TARGET CHANGES:

  • EXAS: pt raised from $28 to $31: Roth Capital
  • LLY: pt raised from $100 to $105: Jefferies
  • REGN: pt raised from $455 to $650: Deutsche Bank
  • PLAY: pt raised from $43 to $55: Piper
  • YELP: pt cut from $35 to $29.50: Northland Capital
  • CUDA: pt cut from $52 to $47: Imperial Capital
  • OAS: pt cut from $24 to $20: Topeka Capital
  • CREE: pt cut from $35 to $30: JP Morgan
  • DOV: pt cut from $78 to $71: RBC Capital
  • BAX: pt cut from $74 to $37: RBC Capital
  • ASNA: pt cut from $20 to $18: RBC Capital
  • INTC: pt cut from $33 to $32: Cowen

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