MORNING COFFEE

Wal-Mart Ups Ante In China. Wal-Mart (WMT) announced that it had increased its stake in Chinese e-commerce firm Yihaodian to around 51%.  Wal-Mart sees China’s fast-growing consumer market and is trying to make a presence in the country.  Pre-market: 60.58 -1.90 (-3.04%)

Downgrades

Limited Brands (LTD): Susquehanna lowered their rating from Positive to Neutral and placed a target price of $47.00 on the company.

Infosys (INFY): Credit Suisse lowered their rating from Outperform to Neutral and placed a target price of $47.00 on the company. Pre-market: 59.40 -0.20 (-0.34%)

Under Armour (UA): Needham lowered their rating from Buy to Hold. Pre-market: 84.00 -0.87 (-1.03%)

Allscripts Healthcare (MDRX): Leerink lowered their rating from Outperform to Market Perform.

Lam Research (LRCX): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $44.00 on the company.

Norfolk Southern (NSC): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $87.00 to $77.00. Pre-market: 68.16 -0.65 (-0.94%)

Oracle (ORCL): JMP Securities lowered their rating from Outperform to Market Perform. Pre-market: 28.70 -0.09 (-0.31%)

Earning Reports

Cracker Barrel (CBRL): Reported EPS of $1.20 beating estimates by +$0.07. Pre-market: 56.00 +0.37 (0.67%)

Home Depot (HD): Reported EPS of $0.50 beating estimates by +$0.07. Pre-market: 48.25 +1.54 (3.30%)

Kraft Foods (KFT): Reported EPS of $0.57 in-line with estimates. Pre-market: 38.40 +0.39 (1.03%)

Medtronic (MDT): Reported EPS of $0.88 beating estimates by +$0.04. Pre-market: 39.31 -0.63 (-1.58%)

RadioShack (RSH): Reported EPS of $0.12 in-line with estimates. Pre-market: 7.90 +0.02 (0.25%)

Wal-Mart (WMT): Reported EPS of $1.44 missing estimates by -$0.02. Pre-market: 60.58 -1.90 (-3.04%)

Markets:
Futures at 8:46: Dow +0.26%. S&P +0.17%. Nasdaq +0.08%. Crude +1.59% to $104.88. Gold +1.34% to $1748.80.

Europe: London -0.29%. Paris -0.55%. Frankfurt -0.66%. 

Asia: Japan -0.23% to 9463. Hong Kong +0.25% to 21479. China +0.75% to 2381. India +0.76% to 18429.