Greece in focus | Morning News

morir-solos-o-vivir-juntosJUNE 29, 2015

US futures off their overnight lows but still down sharply at this 7AM hour, following the massive display of red arrows around the world as the Greek monetary drama steps into high gear.  A divergence in the direction of bond yields is at work, with money flowing into Germany’s fixed-income market, and out of Spain, Italy, Portugal and Greece. Overnight, China entered what some would say is a bear market as the Shanghai fell another 3.3%, more than 20% below its June 12th close.

NEWS:

  • INTU: Intuit lays off almost 400 employees, reports reuters
  • AAPL: MSFT: SNE: HPQ: IBM: Notebook demand notes  strong as expected in 2H15, overall shipments to drop on year in 2015, reports digitimes
  • AAPL :Quanta Computer expects Apple Watch shipments to increase in 2H15. reports digitimes
  • INTC: Pacific Crest out negative on Intel
  • CAVM: Pacific Crest out negative on Cavium
  • SRPT :Sarepta Therapeutics Completes NDA Submission to FDA for Eteplirsen for the Treatment of Duchenne Muscular Dystrophy , reports businesswire
  • GOOG: GOOGL:Study Suggests Google Harms Consumers by Skewing Search Results, reports the wsj

ON THE ECONOMIC CALENDAR:

  • 10AM: Pending Home Sales
  • 10:30AM: Dallas Fed Manufacturing Outlook
  • 3PM: Farm Prices

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • SOHU: upgrade: neutral to buy: Mizuho: $70
  • R: upgrade: hold to buy: Stifel: $104
  • BDX: upgrade: hold to buy: UBS: $167
  • CHK: upgrade: underperform to buy: Sterne Agee: pt raised from $9 to $13

DOWNGRADES:

  • M: downgrade: hold to sell: Deutache Bank: $63
  • FFIV: downgrade: overweight to neutral: Piper: $130
  • MU: downgrade: buy to neutral: Mizuho: $30
  • YOKU: downgrade: neutral to underperform: Mizuho: $18
  • MKTX: downgrade: neutral to underperform: Macquarie: $86
  • QCOM: downgrade: hold to sell: Drexel Hamilton
  • XOMA: downgrade: positive to neutral: Susquehanna

INITIATIONS:

  • ONVO: initiated: overweight: Piper: $5
  • ONVO: initiated: buy: Jefferies: $5
  • TPH: initiated: buy: Gabelli: $19
  • DPLO: initiated: buy: Mizuho: $53

PRICE TARGET CHANGES:

  • TSLA: pt raised from $290 to $325: Credit Suisse
  • EAT: pt raised from $65 to $66: Miller Tabak
  • JAZZ: pt raised from $190 to $210: UBS
  • EBAY: pt raised from $60 to $64: JP Morgan

 

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