Greek drama continues | Morning News

BullVsBearJULY 07, 2015

US futures tracking cautiously upwards at this 7AM hour, bucking the trend after most overseas market trade in the negative with China down another 1.3%. The Greek drama continues to add choppiness to the market with investors awaiting key meetings scheduled today on the country’s monetary crisis.  Also on tap will be fresh trade data and JOLTs report on job openings and labor turnover. Oil prices stabilized overnight after one of the biggest selloffs in the commodity this year.

NEWS:

  • AAPL: Brean Capital out positive on Apple into earnings
  • NKE: announces partnership with University of Michigan
  • AAP: to be added to the S&P 500 Index
  • HZNP: DEPO: HZNP proposes to acquire DEPO for $29.95/share or $3B
  • ADD: cut its outlook for Q2 revenue, from a drop of 3% to a drop of 8%

ON THE ECONOMIC CALENDAR:

  • 8:30AM: International Trade
  • 8:30AM: Gallup US ECI
  • 8:55AM: Redbook Chain Store Sales
  • 10AM: Job Openings and Labor Turnover Survey
  • 1PM: $24B, 3 Year Note Acution
  • 3PM: Consumer Credit

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • KSU: upgrade: neutral to buy: UBS
  • TIF: upgrade: market perform to outperform: Bernstein: $108
  • CRM: upgrade; hold to buy: Brean Captial: $85
  • GPN: upgrade: market perform to outperform: Keefe Bruyette: $121
  • GG: upgrade: equal weight to overweight; Morgan Stanley: $25
  • EA: upgrade: neutral to buy: UBS: $80
  • APC: upgrade; hold to buy: Jefferies: $88
  • EOG: upgrade; underperform to hold: Jefferies:$80
  • NBL: upgrade: underperform to hold: Jefferies:
  • DIS: upgrade: neutral to overweight: Atlantic Equities
  • MRVL: upgrade: underperform to perform: Oppenheimer

DOWNGRADES:

  • BAX: downgrade: outperform to market perform: BMO Capital
  • SHAK: downgrade; equal weight to underweight: Morgan Stanley: $38
  • TSLA: downgrade: buy to hold: Deutsche Bank: NOTE: pt raised from $245 to $280
  • BRCM: downgrade: outperform to perform: Oppenheimer

INITIATIONS:

  • WING: initiated: buy: Jefferies; $33
  • WING: initiated: equal weight: Barclays: $25
  • WING: initiated: outperform: Baird: $35
  • WING: initiated: neutral: Goldman: $22
  • WING: initiated: overweight: Morgan Stanley: $42
  • TEVA: initiated: buy: BTIG ResearcH: $77
  • OPHT: initiated: outperform: Cowen
  • FIT: initiated: outperform: Baird: $52

PRICE TARGET CHANGES:

  • EPAN: pt raised from $77 yo $85: Citi

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