Pre-Market Outlook

Mining equipment maker Joy Global (NYSE: JOY) and defense contractor SAIC (NYSE: SAI) are scheduled to step into the earnings spotlight this week, in what will be otherwise a pretty quiet week as far as quarterly reports go. Others on tap to share their results for the most recent quarter include...

Wunderlich Securities initiates a Buy rating with a price target of $32 per share on United Stationers (NASDAQ: USTR). Wunderlich Securities says, "We believe YTD share price underperformance represents an attractive opportunity, as delays in a cyclical recovery have evaded the office products...

Wunderlich Securities initiates its coverage on Anixter International (NYSE: AXE) with a Buy rating and a price target of $74. Wunderlich Securities comments, "We view Anixter's three businesses as having attractive characteristics involving either strong leadership positions in long-term secular...

Wunderlich Securities initiates its coverage on WESCO International (NYSE: WCC) with Hold rating and a price target of $64 per share. Wunderlich Securities notes, "Our Hold rating is driven by a below-consensus 2012 EPS view largely resulting from revenue growth 80-90 bps slower than Street...

Wunderlich Securities initiates its coverage on Fastenal Company (NASDAQ: FAST) with a Buy rating and a price target of $51. Wunderlich Securities notes, "While Fastenal currently trades at a substantial premium to peers, we view current levels as in line with historical precedent. We believe...

Frontline (NYSE: FRO) is trading higher pre-market following its Q1 earnings announcement. The company reported an EPS of $0.09 vs $(0.10) estimates and revenues of $167.3 million vs $100 million estimates. The company's said it sees "a challenging supply / demand situation for the tanker market...

Jefferies reiterates its Hold rating on Leap Wireless International (NASDAQ: LEAP) and reduces its price target from $10 to $6. Jefferies comments, "As the post-paid market slows, we believe the Big-Four carriers are increasingly focusing on the pre-paid market to drive growth. Additionally, ARPU...

Jefferies reiterates its Buy rating on Flowserve Corporation (NYSE: FLS) but reduces its price target from $135 to $133. Jefferies notes, "We hosted investor meetings with the CFO. End-market activity is improving. Combined with new operating strategies, we expect continued sales momentum and...

Jefferies raises its price target on Patterson companies (NASDAQ: PDCO) from $31 to $34 and reiterates a Hold rating on shares. Jefferies says, "PDCO's fiscal-4Q12 (Apr) EPS of $0.58 was $0.02 above consensus as stronger revenue growth & a lower tax rate more than offset a weaker than...

Jefferies reduces its price target on HJ Heinz Company (NYSE: HNZ) from $60 to $56 and reiterates a Hold rating on shares. Jefferies comments, "We are downgrading HNZ to Hold and are lowering out PT to $56. While the international businesses seem to do well, the North American Consumer Products...