MORNING COFFEE

Banks Fight Cybercrime. Last year it is estimated that cybercrime cost banks $2.5 billion. Phishing is common among cybercriminals were people are directed to bogus web sites that look authentic. In an attempt to prevent the practice of phishing, financial companies are buying new Internet domain suffixes to replace the common dot-com and dot-net.  The new suffixes include dot-bofa (BAC), dot-barclays (BCS), dot-citi (C). American Express (AXP), Capital One (COF), and JPMorgan (JPM) are also buying addresses.

Upgrades

Viacom Inc (VIAB): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $50.00-$52.00 to $57.00-$59.00. Pre-market: 50.33 +0.39 (0.78%)

Medtronic (MDT): Argus raised their rating from Hold to Buy. Pre-market: 50.33 +0.39 (0.78%)

Downgrades

Groupon (GRPN): Evercore lowered their rating from Equal Weight to Underweight. Pre-market: 4.88 -0.12 (-2.40%)

Coverage Initiated

eBay (EBAY): Caris initiated coverage with an Above Average rating and target price of $52.00. Pre-market: 46.10 +0.31 (0.68%)

Phillips 66 (PSX): JPMorgan Chase initiated coverage with an Overweight rating and target price of $59.00. Pre-market: 41.64 +0.46 (1.12%)

Earning Reports

Foot Locker (FL): Reported EPS of $0.38 beating estimates by +0.05. Pre-Market: 35.60 +1.11 (3.22%)

Gap (GPS): Reported EPS of $0.49 beating estimates by +0.02.

Brocade (BRCD): Reported EPS of $0.14 beating estimates by +0.02.

Markets: 
Futures at 8:42: Dow +0.01%. S&P -0.04%. Nasdaq +0.20%. Crude +0.05% to $95.60.  Gold +0.09% at $1620.90.

Europe: London +0.10%. Paris -0.07%. Frankfurt +0.32%. 

Asia: Japan +0.77%. Hong Kong +0.77%. China +0.13%. India +0.19%.