Greece in Focus | Morning News

stock market newsJUNE 22, 2015

All eyes on Greece as US futures surge, following impressive European and Asian rallies (NOTE: China is closed) after Greece submitted a last-ditch package of proposals to creditors in a bid to unlock the financing needed to avoid a default. The Eurozone leaders are slated to hold their emergency summit to debate the Greek crisis at 1PM EST.

NEWS:

  • CI: ANTM:Cigna rejects Anthem’s takeover bid, calling the offer “inadequate”, reports wsj
  • WMB: ETE: announced yesterday that the company had rejected an unsolicited buyout offer worth $48 billion: Energy Transfer Equity announced that it was bidding $53.1 for Williams
  • BABA: The Hong Kong stock exchange has opened it’s door to Alibaba shares, reports the Financial Times
  • AET: HUM: Aetna bids for Humana, reports the wsj
  • AAL: DAL: UAL: LUV:Airline stocks could rise up to 50%, reported in barrons: American Airlines is Barron’s top pick: DAL, UAL and LUV round out the top 4
  • FB: Facebook gaining ground on YouTube in video ads, reports reuters
  • NDLS: COO exiting company
  • AAPL: After Taylor Swift’s Criticism, Apple Will Pay Royalties in Trial Period for new music streaming service, reports the Wall Street Journal

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Chicago Fed National Activity Index
  • 10AM: Existing Home Sales: consensus expectation 525M

NOTABLE EARNINGS AFTER THE CLOSE:

  • SONC

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • SNDK: upgrade: hold to buy: Summit Research: $85
  • CCL: upgrade: hold to buy: Deutsche Bank: $55
  • CAG: upgrade: neutral to overweight: JP Morgan: pt raised from $39 to $52
  • MET: upgrade: sector perform to outperform: RBC Capital: pt raised from $57 to $68
  • STM: upgrade: underweight to equal weight: Barclays:
  • EXPE: upgprade: hold to buy: Deutsche Bank: pt raised from $95 to $130

DOWNGRADES:

  • MU: downgrade: neutral to sell: Goldman: pt cut from $27 to $19
  • FEYE: downgrade: buy to neutral: UBS: NOTE: pt raised from $50 to $55
  • SYMC: downgrade: neutral to sell: UBS:
  • PCLN: downgrade: buy to hold: Deutsche Bank:

INITIATIONS:

  • CUDA: initiated: buy: Summit Research: $50
  • SFUN: initiated: overweight: Barclays: $112
  • LEJU: initiated: overweight: Barclays: $11.50
  • MU: initiated: outperform: Cowen: $34

PRICE TARGET CHANGES:

  • FTNT: pt raised from $43 to $49: UBS
  • PANW: pt raised from $180 to $208: UBS
  • NFLX: pt raised from $600 to $950: BTIG
  • FB: pt raised from $92 to $120: Piper
  • HOG: pt raised from $63 to $66: RBC Capital
  • HALO: pt raised from $20 to $25: JP Morgan
  • HSY: pt cut from $106 to $85: RBC Capital
  • MU: pt cut from $37 to $33: JP Morgan

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