MORNING COFFEE

Jobless Claims At Four Year Low. The Labor Department reported that the number of Americans claiming new jobless benefits fell to a four-year low last week. Claims for unemployment benefits dropped 14,000 to a seasonally adjusted 351,000.

Upgrades

Pf Chang’s (PFCB): Argus raised their rating from Sell to Hold.

Coverage Initiated

Discover Financial Services (DFS): Argus initiated coverage with a Buy rating and target price of $40.00.

Celgene (CELG): Stifel Nicolaus initiated coverage with a Buy rating and target price of $87.00.

Amgen (AMGN): Stifel Nicolaus initiated coverage with a Hold.

Coverage Reiterated/Price Target Changed

Guess? (GES): Brean Murray reiterated their Buy rating and lowered their target price from $50.00 to $42.00.

Emerson (EMR): Oppenheimer reiterated their Outperform rating and raised their target price from $58.00 to $61.00.

Earning Reports

Guess? (GES): Reported EPS of $1.05 in-line with estimates.

Ross Stores (ROST): Reported EPS of $0.85 in-line with estimates.

Scholastic Corp (SCHL): Reported EPS of -$0.04 beating estimates by +$0.66.

Winnebago Inds (WGO): Reported EPS of -$0.03 missing estimates by -$0.06.

Markets: 
Futures at 8:51: Dow +0.21%. S&P +0.24%. Nasdaq +0.34%. Crude +0.54% at $106.06. Gold +0.21% to $1645.70. 

Europe: London -0.23%. Paris -0.09%. Frankfurt +0.30%. 

Asia: Japan +0.72% to 10123. Hong Kong +0.21% to 21354. China -0.73% to 2374. India -1.36% at 17675.