BABA | Morning News

bullish reversal daySEPTEMBER 14, 2013

US futures poised to open higher at this 7AM hour as markets trade mixed around the world and investors await the results of the FOMC meeting later this week. Overnight, crude trimmed its gains, no down slightly at his hour as oversupply continues to haunt the commodity.

NEWS:

  • BABA: Alibaba could fall 50%, reports Barrons
  • AAPL: New iPhone could lift shares, reports Barrons
  • SVU: Supervalu could see 50% upside, reports Barrons
  • RPTP: RP103 Phase 2b did not meet primary endpoint
  • MNST: announces $500M buyback
  • AN: announces additional $250M buyback
  • GOOG: GOOGL: Google hires Detroit heavyweight to head driverless car business
  • SLH: Solera to be acquired by Vista Equity Partners at $55.85/share
  • BIDU: Baidu announces strategic partnership with CloudFire
  • RDY:Dr. Reddy’s Laboratories signs an commercialization deal with Australian pharma firm Hatchtech for the exclusive rights to its head lice product, Xeglyze Lotion, for the U.S., Canada, India, Russia, the CIS, New Zealand and Venezuela, reports SA
  • NOK: ALU: CFIUS clears Nokia-Alcatel-Lucent merger
  • MBLY: Citi out positive on the stock: Buy: $77 pt
  • WMB:Williams raises quarterly dividend 8.5% to 64c per share
  • COLL: Collegium’s painkiller gets green light from FDA panel, reports reuters
  • QCOM: AMBA:Qualcomm introduces the Snapdragon Flight, a brain for smarter, more powerful drones, reports digitaltrends

ON THE ECONOMIC CALENDAR:

  • nothing scheduled

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • FULL, JRJC, MCOX, PCYG, SHLO, STB, UNIS

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • VRTX: upgrade: equal weight to overweight: Barclays: pt raised from $120 to $150
  • XLNX: upgrade: neutral to buy: Goldman: $50
  • AVAV: upgrade; neutral to overweight: Piper Jaffray
  • NOK: upgrade: buy to conviction buy: Goldman:
  • TCO; upgrade: sector weight to overweight: KeyBanc: $82
  • BHP: upgrade: hold to buy: Jefferies: $40

DOWNGRADES

  • ALXN: downgrade:overweight to equal weight: Barclays: $205
  • MRVL: downgrade: outperform to market perform: BMO Capital : $9
  • SLW: downgrade; outperform to market perform: BMO Capital: $13
  • SIRO: downgrade: overweight to equal eight: Morgan Stanley: $101
  • TMST: downgrade: outperform to market perform: Cowen: pt cut from $28 to $12

INITIATIONS:

  • FLT: initiated: outperform: Keefe Bruyette: $185
  • CAC: initiated: outperform: Keefe Bruyette: $47

PRICE TARGET CHANGES:

  • CHDN: pt raised from $125 to $150: Imperial Capital
  • MRVL: pt cut from $15 to $9: Northland Capital
  • PPG: pt cut from $126 to $115: RBC Capital
  • SGEN: pt cut from $56 to $54: RBC Capital
  • DDC: pt cut from $21 to $18: RBC Capital
  • BABA: pt cut from $89 to $85:Deutsche Bank

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