Another nice day yesterday as the market continues to push onward to new all-time highs. The jobs report came out this morning much better then expected with 236,000 jobs added in February and the unemployment rate dropping to 7.7%. January numbers were revised down and December numbers were revised up. Futures ramped right after the numbers came out and looks like we have a breakout day.
AAPL and SHLD moved nice yesterday, but AAPL is somewhat flat pre-market. Will look for follow through today.
Here are some of the analyst changes of note this morning:
Pandora upgraded to Overweight from Neutral at Piper Jaffray
Piper upgraded Pandora based on improved monetization of mobile listenership. The firm believes Pandora's mobile mobilization is at an inflection and will reduce concerns regarding high content costs. Price target raised to $17 from $11.
Whirlpool initiated with a Buy at BofA/Merrill
Target $140.
Skullcandy downgraded to Underweight from Neutral at Piper Jaffray
Piper downgraded Skullcandy citing weak guidance. Price target lowered to $4 from $7.
Apple's growth drivers remain intact, says Credit Suisse
Credit Suisse believes Apple shares discount an overly pessimistic view long-term and that drivers remain intact. The firm does not believe the iPhone market is saturated and that geographic expansion will add to incremental sales. Shares are Outperform rated with a $600 price target.
Alcoa valuation attractive, says Stifel Nicolaus
Stifel Nicolaus believes that fears of an oversupply of aluminum in China leading to exports from that country are overdone, while the firm sees growing demand for aluminum from automakers as a tailwind for Alcoa. The firm also thinks that the company has made some progress in cutting costs and it maintains a Buy rating on the shares.
LinkedIn price target raised to $200 from $160 at Macquarie
Macquarie said LinkedIn's hiring shows the company is solidly growing its Talent and Marketing Solutions businesses, indicating the company still has room to expand its footprint. The firm raised estimates and reiterates its Outperform rating.
Would expect a solid day in the markets with the S&P trying to break out over 156. Could see some nice moves in a few of the stronger players like AMZN. May try for a few lottos. Still holding quite a few positions so will be small if I do add this morning.
Strikes on watch:
Stock Ticker | Call/Put | Strike | Expiration |
AMZN | CALL | $280.00 | Weekly |
NFLX | CALL | $185.00 | Weekly |
GOOG | CALL | $840.00 | Weekly |
LeeMalones Webinar is being uploaded and will be in the forum later today. Hope to see everyone on the week ahead, and lets have a great friday!
- JB