Morning Coffee Pre-Market Wall Street News

Fed To Continue QE in 2013. With new job creation stagnant and job losses accelerating many Fed officials want to continue buying long-term Treasurys after Operation Twist expires. The purchases are in addition to the $40 billion a month of mortgage-backed they have been buying.

Upgrades

Google (GOOG): Oracle Research raised their rating from Hold to Buy and placed a target price of $760.00 on the company. Pre-market: 686.79 +3.12 (0.46%)

Nike (NKE): HSBC Securities raised their rating from Neutral to Overweight and raised their target price from $101.00 to $112.00. Pre-market: 99.77 +0.64 (0.65%)

Expeditors International (EXPD): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $46.00 on the company. Pre-market: 37.42 +0.39 (1.05%)

DR Horton (DHI): Compass Point raised their rating from Sell to Neutral and raised their target price from $13.00 to $18.00.

Downgrades

Aeropostale (ARO): Caris & Company lowered their rating from Buy to Above Average and placed a target price of $18.00 on the company. Pre-market: 13.24 -0.88 (-6.23%)

Coverage Initiated

Western Digital (WDC): Wells Fargo initiated coverage with a Market Perform rating and target price of $33.00-$38.00.

Seagate Tech (STX): Wells Fargo initiated coverage with a Market Perform rating and target price of $28.00-$28.00. Pre-market: 26.00 +0.31 (1.21%)

Archer Daniels Midland (ADM): Stephens initiated coverage with an Equal Weight and target price of $28.00.

Texas Instruments (TXN): Sun Trust initiated coverage with a Reduce and target price of $26.00. Pre-market: 29.79 +0.01 (0.03%)

Earning Reports

Aeropostale (ARO): Reported EPS of $0.31 beating estimates by +$0.02. Pre-market: 13.24 -0.88 (-6.23%)

Guess? (GES): Reported EPS of $0.43 missing estimates by -$0.01. Pre-market: 26.84 +1.59 (6.30%)

La-Z-Boy (LZB): Reported EPS of $0.12 missing estimates by -$0.08.

Pall (PLL): Reported EPS of $0.68 beating estimates by +$0.02.

Markets: 
Futures at 7:00: Dow +0.46%. S&P +0.53%. Nasdaq +0.64%. Crude +1.23% to $87.56. Gold +0.40% to $1723.40.

Europe: London +0.90%. Paris +0.93%. Frankfurt +0.70%. 

Asia: Japan +0.99% to 9401. Hong Kong +0.99% to 21923. China -0.51% to 1963. India +1.75% to 19171.