MORNING COFFEE

Iran Is Playing Games. Iran is playing games once again with the international community. Following President Obama and Israeli Prime Minister Binyamin Netanyahu meeting yesterday Iran said it is willing to allow IAEA inspectors to visit its Parchin military complex, but only once. Their excuse for allowing only one visit is that it’s "a time-consuming process." This is true if you need to remove all traces of military uses for their nuclear program.  By allowing possible inspections and then turning away inspectors Iran is just buying time to complete their nuclear ambitions.

Upgrades

Sanofi (SNY): JP Morgan raised their rating from Neutral to Overweight. Pre-market: 37.55 -0.47 (-1.24%)

Downgrades

Nutrisystem (NTRI): Auriga lowered their rating from Buy to Hold and placed a target price of $11.00 on the company. Pre-market: 10.45 -1.43 (-12.04%)

Amgen (AMGN): Bernstein lowered their rating from Outperform to Market Perform and placed a target price of $76.00 on the company. Pre-market: 66.00 -1.23 (-1.83%)

Novartis (NVS): JP Morgan lowered their rating from Overweight to Neutral. Pre-market: 53.98 -0.41 (-0.75%)

Coverage Initiated

Deutsche Bank (DB): ING initiated coverage with a Buy rating. Pre-market: 45.00 -1.62 (-3.47%)

Earning Reports

Nutrisystem (NTRI): Reported EPS of -$0.04 missing estimates by -$0.02. Pre-market: 10.45 -1.43 (-12.04%)

Dick’s Sporting Goods (DKS): Reported EPS of $0.88 in-line with estimates. Pre-market: 44.85 -0.72 (-1.58%)

Vail Resorts (MTN): Reported EPS of $1.27 missing estimates by -$0.17. Pre-market: 40.00 -1.48 (-3.57%)

Markets: 
Futures at 7:44: Dow -0.62%. S&P -0.84%. Nasdaq -0.82%. Crude -0.99% to $105.66. Gold -1.16% to $1684.20. 

Europe: London -1.03%. Paris -1.63%. Frankfurt -1.42%. 

Asia: Japan -0.63% to 9638. Hong Kong -2.16% to 20806. China -1.41% to 2410. India -1.09% at 17173.