How Do Credit Inquires Affect Your Credit Score?

Your Credit Score depends on a lot of things like Credit card utilization, late bill payments, the number of credit cards, etc. and it is very easy to lower your score with just a few careless mistakes. A lot of people don’t know this but the number of credit inquiries also affect your Credit Score and could be another cause for your lowered score. So we have compiled all the information below about how a credit inquiry can ruin your chances of getting a loan and can seriously affect your credit score. Overview The Fair Credit Reporting Act (FCRA) provides you a protection against credit inquiries by defining a list of reasons which are an acceptable reason for a creditor to inquire about your credit report (Source: ). These reasons are as follows: If you have applied for a loan or a credit card, then the creditor has a right to investigate your credit report and determine whether you are eligible for the credit/loan or not. If you have been late on fulfilling your debt or any kind of late fee, then this act gives the right to Debt Collectors to gather your information from your credit report and then contact you regarding the debt collection. When you are applying for an insurance, the insurers will ask for your credit report to determine how sincerely you are going to pay the premium and if you are going to dupe them by filing a false claim or not. If you are looking for a new job, then your employer would request to see your credit report so that he can determine how responsible you are and whether you can be trusted or not. For some licenses, the government officials need to check your credit report before providing you with the license. Any company which requests your credit report and doesn’t fall in the above category is in a violation of the FCRA and you are free to sue them for it. Types of Inquiries There are two types of credit inquiries: Hard inquiry and Soft inquiry. Hard inquiries are the ones which were made by creditors and insurers when you applied for a loan or credit and they need to check your credit score before approving your loan whereas the soft inquiries entail the ones which were made by the businesses to which you didn’t apply for credit. You don’t have to worry about the soft inquiries because they don’t count in your Credit Score, it is the hard inquiries you need to look out for. If you apply for too many loans or credits in a period of 2 years, it is going to drastically affect your credit score as the inquiries made in the past 2 years reflects on your Credit Report. So always make sure you apply for new loans or credits after a substantial gap so that your credit score remains intact. How does it affect your Credit Score Around 10% of your credit score depends on the number of inquiries made for a credit report and too many hard inquiries could severely damage your Credit Score. If there are too many inquiries then it is likely that you have taken a lot of debt and this might prevent you from getting a fresh credit or loan or might develop in high-interest rates due to the low credit score. It is essential that you keep your credit report from being inquired about too much in a limited period of time and always keep your credit score on the top if you want easy and less interest rate loans.
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BofA Merrill Lynch Upgrades Siemens AG to Buy

In a report published today BofA Merrill Lynch Upgraded the rating on Siemens AG (SI) to Buy from Neutral with a price target of $ “We are upgrading Siemens from Neutral to BUY. Our price objective (PO) remains Eur106, implying upside potential, plus a >3% dividend yield. We downgraded Siemens in early Jan 14 when the stock was a bit higher and the upside looked more limited, but at these levels (all in PE of FY14 and  FY15,a 15-20% sector discount), we think the shares offer an attractive risk/reward balance.” BofA Merrill Lynch said “We think the upside will be driven by (i) the ongoing cost and portfolio restructuring story under CEO Joe Kaeser, which we think will be taken to the next phase at the May 8 capital markets day, (ii) cyclical and structural growth opportunities in automation markets, which we think the market underestimates, (iii) support from a Eur4bn share buy-back to be executed over the next 18 months and (iv) a strong balance sheet allowing Siemens to enhance its portfolio and earnings” it added Shares of Siemens AG (SI) closed at $ on Friday.
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Citi Downgrades CF Industries Holdings to Neutral

Analysts at Citi downgraded shares of CF Industries Holdings (CF) to Neutral from Buy citing valuation and limited near term catalysts. The price target on CF was retained at $ “there are risks of a softer urea market in 2H14 on higher China exports and potential for lower grain prices if a record crop develops. Plus (see Figure 1), CF’s multiple has risen to ~14x, back toward pre- “shale supremacy” levels. We see balanced risk/reward here and recommend investors stay on the sidelines for now.” Citi said in a note to clients “Global urea markets have weakened outside of the US since late February and now appear to have reversed the rebound which started late last summer. Part of this move could be seasonal. Supply uncertainty in China could increasingly pressure the market as seasonally exports should be much higher in 2H14 with lower tariffs.” it added Shares of CF Industries Holdings (CF) were trading lower by 1 percent at $ in early morning trade.
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NOMURA DOWNGRADES RANBAXY TO REDUCE

Nomura downgrades Ranbaxy to Reduce from Neutral earlier following import alert on Toansa plant. Ranbaxy’s API plant at Toansa has been placed under import alert by the USFDA. The action follows the inspection carried out by the agency in January 2014. The import alert at Toansa follows the alert imposed on a new formulation facility at Mohali in September 2013. The Toansa facility had earlier successfully concluded an FDA audit in 2011. The recent developments contradict the view that the regulatory issues are limited to the pre-2008 period and that the signing of a consent decree in January 2012 had laid the path for gradual recovery. Toansa is an important API plant with 76% of DMF filings for Ranbaxy. The target price has been cut to Rs311 from Rs436 earlier. Nomura estimates the stock can potentially drop to EV/sales, in which case the price could drop to Rs250-270.
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Brean Capital Initiates Coverage on First Solar at Buy

Research analysts at Brean Capital Initiated Coverage on First Solar, Inc (FSLR) with a Buy rating and set a price target of $83, suggesting 20 percent upside from current levels. “Given the company’s solid balance sheet, increasing cash flow generation, strong growth potential, and ability to leverage its product platforms, we believe First Solar has many advantages over its peers. We regard the stock as a must-have for solar portfolios, and worth consideration for long-term investors who seek above-average growth and have the patience to navigate the potential ups and downs of a maturing market.” Brean Capital said in a note to clients “We consider First Solar the premier market participant in the solar industry, given its breadth of vertical integration, financial strength, and ability to adapt to changing end-market conditions while continuing to innovate its product and service offerings.” it added Shares of First Solar, Inc (FSLR) closed at $ on Monday.
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BMO Capital raises Apple’s price target to $565, reiterates Outperform

Analysts at BMO Capital raised the price target on shares of Apple (AAPL) to $ from $ and reiterated their Outperform rating on the stock. “We continue to believe that AAPL’s valuation is attractive relative to historical measures as well as relative to the S&P 500. Based on changes in the multiple, we believe that the upside case is in the $635 range and the downside case is in the $470 range. We are raising our March quarter EPS estimate to $ from $ (consensus of $)” BMO Capital said “We are raising our EPS estimates on Apple, driven by aggressive share buybacks. Apple repurchased approximately $14 billion worth of stock, and we assume that the share count declines by around 22 million, to 880 million shares in the March quarter. In addition, we assume total share buybacks of about $35 billion in FY2014 and FY2015, compared with $40 billion over the past 12 months” it added Shares of Apple (AAPL) closed at $ on Thursday
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Analyst Upgrades & Downgrades for April 22, 2014

Upgrades Company Ticker Brokerage Firm Rating Price Target Baker Hughes Incorporated BHI Global Hunter Securities Neutral >> Buy $60 >> $80 Facebook FB Credit Suisse Neutral >> Outperform $65 >> $87 Fidelity Southern Corporation LION KBW Market Perform >> Outperform $16 Fiesta Restaurant Group, Inc FRGI Raymond James Outperform >> Strong Buy $60 >> $48 First Financial Bankshares FFIN Macquarie Underperform >> Neutral $56 Home Depot, Inc HD BMO Capital Market Perform >> Outperform $82 >> $90 HomeAway, Inc AWAY FBR Capital Market Perform >> Outperform $34 >> $45 Intuit Inc INTU Evercore Partners Underweight >> Equal Weight $62 >> $72 KT Corp KT Macquarie Neutral >> Outperform Lennox International, Inc LII MKM Partners Neutral >> Buy $97 >> $100 Main Street Capital Corporation MAIN Raymond James Market Perform >> Outperform NM >> $34 Modine Manufacturing Company MOD Baird Neutral >> Outperform $13 >> $19 National Bank of Greece SA NBG BofA Merrill Lynch Underperform >> Neutral Netflix NFLX Raymond James Market Perform >> Outperform NM >> $450 Netflix NFLX Cantor Fitzgerald Hold >> Buy $405 >> $425 Norwegian Cruise Line Holdings Ltd NCLH Goldman Sachs Neutral >> Buy $37 Ruth's Hospitality Group, Inc RUTH Raymond James Market Perform >> Outperform NM >> $ Sarepta Theprcs SRPT Citi Sell >> Neutral $13 >> N/A SINOPEC SNP BofA Merrill Lynch Underperform >> Neutral $ Summit Midstream Partners, LP SMLP Goldman Sachs Neutral >> Buy $43 >> $52 The NASDAQ OMX Group NDAQ Credit Suisse Neutral >> Outperform $40 >> $42 Downgrades Company Ticker Brokerage Firm Rating Price Target Cbeyond, Inc CBEY Drexel Hamilton Buy >> Hold $10 Cbeyond, Inc CBEY D. A. Davidson Buy >> Neutral $8 >> $10 CommonWealth REIT CWH Stifel Nicolaus Hold >> Sell NA Del Frisco's Restaurant Group, Inc DFRG Raymond James Outperform >> Market Perform $ >> NM Deutsche Bank AG DB UBS Buy >> Neutral ENI E UBS Buy >> Neutral Fidelity and Guaranty Life FGL Credit Suisse Outperform >> Neutral $22 >> $24 Frontier Communications Corp FTR Gabelli & Company Buy >> Hold InterXion Holding INXN Evercore Partners Overweight >> Equal weight $27 >> $28 Intevac, Inc IVAC Needham Buy >> Hold $10 >> NA QEP Resources, Inc QEP Barclays Overweight >> Equal weight $36 >> $31 Rush Enterprises, Inc RUSHA BofA Merrill Lynch Buy >> Underperform $33 >> $34 Toyota Motor TM Mitsubishi UFJ Morgan Stanley Outperform >> Neutral ¥9,600 >> ¥6,200 Valero Energy Corp VLO BofA Merrill Lynch Buy >> Neutral $63 (unch) Zions Bancorp ZION Evercore Partners Overweight >> Equal weight $33 >> $28 Initiated Coverage Company Ticker Brokerage Firm Rating Price Target 2U, Inc TWOU Goldman Sachs Buy $17 2U, Inc TWOU Needham Buy $18 Aerohive Networks, Inc HIVE William Blair Outperform NA Aerohive Networks, Inc HIVE Goldman Sachs Buy $13 Aerohive Networks, Inc HIVE Piper Jaffray Overweight $14 Aerohive Networks, Inc HIVE BofA Merrill Lynch Buy $13 Aerohive Networks, Inc HIVE JMP Securities Market Outperform $14 Akorn, Inc AKRX Jefferies Buy $28 Allergan, Inc AGN Jefferies Hold $139 Anacor Pharmaceuticals, Inc ANAC Jefferies Buy $24 Dyax Corporation DYAX BofA Merrill Lynch Buy $9 Everyday Health, Inc EVDY Stifel Nicolaus Buy $18 Everyday Health, Inc EVDY SunTrust Buy $20 Everyday Health, Inc EVDY JP Morgan Neutral $16 First Solar, Inc FSLR Brean Capital Buy $83 Glori Energy Inc GLRI Baird Outperform $12 GSV Capital Corp GSVC Roth Capital Buy $16 GW Pharmaceuticals Plc GWPH Morgan Stanley Overweight $103 Immersion Corporation IMMR B. Riley Buy $ Magna International, Inc MGA UBS Neutral $101 Maxwell Technologies, Inc MXWL Sidoti & Company Buy $21 Nektar Therapeutics NKTR Jefferies Buy $15 Nimble Storage, Inc NMBL D. A. Davidson Underperform $ Pacira Pharmaceuticals, Inc PCRX Jefferies Buy $81 PBF Energy PBF BofA Merrill Lynch Buy $35 Perrigo Company PRGO Jefferies Buy $180 Ralph Lauren Corp RL Maxim Group Buy $203 Sagent Pharmaceuticals, Inc SGNT Jefferies Hold $23 Salix Pharmaceuticals, Ltd SLXP Jefferies Buy $133 Shire plc SHPG Jefferies Buy $180 SunEdison, Inc SUNE Brean Capital Hold NA SunPower Corporation SPWR Brean Capital Buy $32 Supernus Pharmaceuticals, Inc SUPN Jefferies Hold $9 Synaptics Incorporated SYNA Sterne Agee Buy $77 Teva Pharmaceutical TEVA Jefferies Buy $61 Valeant Pharmaceuticals International, Inc VRX Jefferies Buy $153 XenoPort, Inc XNPT Jefferies Buy $6
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