SPY | Morning News

SPY Bulls Surprise Stock TradersOCTOBER 05, 2015

US futures spike higher following broad gains around the world after weak jobs data on Friday fueled speculation that an interest rate hike might be put off until after the first of the year. Crude is trading higher despite a move yesterday which saw Saudi Arabia cutting prices significantly on oil sales

NEWS: 

  • F: Ford reached key agreement with workers at F-15 plant in Kansas City
  • APP: files Chapter 11 for bankruptcy protection
  • GE: Trian takes $2.5B stake in General Electric
  • WYNN: LVS: MGM: Vegas casinos fight to buy their own electricity, sidestepping Nevada power monopoly and save millions
  • FEYE: FFIV: FireEye and F5 form global partnership

IN BARRONS OVER THE WEEKEND:

  • THC: Leslie Norton writes that Tenet offers good value at this level and has a promising future
  • BSX: Jack Hough thinks the stock could rise another 20% as growth picks up
  • RL:Johanna Bennett believes the new CEO will add horsepower to the Stock

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Gallup US Consumer Spending Measure
  • 9:45AM: PMI Services Index
  • 10AM: Labor Market Condition Index
  • 10AM: ISM Non-Manufacturing Index
  • 12:30PM: TD Ameritrade IMX

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • TCS

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • BLUE: upgrade: equal weight to overweight: Morgan Stanley: $143
  • ADT: upgrade: underweight to equal weight: Barclays: $30
  • AZO: upgrade: market perform to outperform: Oppenheimer
  • CNX: upgrade: sell to hold: Deutsche Bank: $13
  • LAZ: upgrade: neutral to positive: Susquehanna: $53
  • TOL: upgrade: neutral to positive: Susquehanna: $42
  • NUE: upgrade: hold to buy: Deutsche Bank: $52
  • ATI: upgrade: hold to buy: Deutsche Bank: pt cut from $27 to $20
  • WYNN: upgrade: underperform to market perforM: Taglich Brothers: $68
  • TWTR: upgrade; hold to buy: Axiom Capital: pt cut from $40 to $37
  • KN: upgrade: equal weight to overweight: Stephens: pt raised from $21 to $25
  • IGT: upgrade: underperform to neutral: Sterne Agee:

DOWNGRADES:

  • FEYE: downgrade: buy to neutral: Piper Jaffray: $37
  • FCX: downgrade: buy to hold: Deutsche Bank: $11
  • AKS: downgrade; buy to hold: Deutsche Bank: pt cut from $6 to $3
  • TYC: downgrade: overweight to equal weight: Barclays: pt cut from $44 to $31
  • RXN: downgrade: overweight to equal weight: Barclays: pt cut from $26 to $16
  • UNP: downgrade: overweight to equal weight: Barclays: $92
  • CFX: downgrade: equal weight to underweight: Barclays: $23
  • ETN: downgrade: overweight to equal weight: Barclays: $53
  • NSC: downgrade: equal weight to underweight: Barclays: pt cut from $91 to $76
  • AMAT: downgrade: sector perform to underperform: RBC Capital: pt cut from $16 to $12
  • LRCX: downgrade: sector perform to underperform: RBC Capital: pt cut from $76 to $52

INITIATIONS:

  • SYRX: initiated: buy: B Riley: $2.50

PRICE TARGET CHANGES:

  • YHOO: pt raised from $39 to $41: Axiom Capital
  • ZOES: pt raised from $34 to $40: Stephens
  • ALV: pt raised from $105 to $110: RBC Capital
  • CNX: pt cut from $47 to $46: Topeka Capital
  • AXLL: pt cut from $32 to $18: RBC Capital
  • CUDA; pt cut from $41 to $25: Imperial Capital
  • FOSL: pt cut from $53 to $46: Piper Jaffray
  • IBM: pt cut from $170 to $155: RBC Capital

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